Speaking at the Americans for Prosperity Foundation’s annual meeting, Mr. Romney said his plan would cap spending at 20 percent of gross domestic product by 2016, and would require $500 billion a year in spending cuts. To accomplish this, Mr. Romney explained, he would eliminate all nonessential government programs, including Amtrak, return federal programs like Medicaid entirely to the states and improve the productivity and efficiency of the federal government. He would also immediately cut all nonsecurity discretionary spending by 5 percent across the board.
Mr. Romney’s proposal for Medicare is similar to the hotly debated plan that Representative Paul Ryan of Wisconsin, the chairman of the House Budget Committee, introduced in April. Mr. Ryan’s plan would replace Medicare and offer payments to older Americans to buy coverage from the private market.
The Ryan plan to eliminate Medicare and replace it with vouchers doesn't fare well with the public, with one poll putting disapproval at nearly 60%. Go on Mitt, tell them what you would do with Social Security...
His plans for Social Security did not include any privatization plans, which some of his Republican presidential rivals support. Instead, “for the next generation of retirees, we should slowly raise the retirement age,” he said. “And finally for the next generation of retirees, we should slow the growth of benefits for those that have higher incomes.”
It should go without saying that Mittens has already proposed $6.6 trillion in tax cuts for the wealthy and corporations over ten years and would call for a balanced budget amendment, which is interesting because his plan would leave us with a deficit of roughly the same amount. But whatever. No one pays attention to the math on these things.
All of this is not enough for the kingmakers.
Americans for Prosperity was co-founded and financed by David H. Koch. Mr. Koch, a billionaire who, along with his brother, Charles, runs Koch Industries, sat at a table in the front row at the meeting. Mr. Romney received a lukewarm welcome, with only tepid applause throughout, rising for an ovation only when he promised to repeal “Obamacare,” the president’s health care legislation.
“I should have started with that line,” he said.
Yeah, tough crowd there, Mitt. But thanks for the campaign ad fodder. That is going to come in handy later.