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   Defense spending to spike $2.1 trillion under Romney

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5/10/2012 8:55 am

Author

Charles Riley

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Analysis

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Entered 5/10/2012, Updated 5/10/2012

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image://i2.cdn.turner.com/money/2012/05/10/news/economy/romney-defense-spending/chart-romney-defense-spending2.top.gif Mitt Romney is campaigning on a platform that emphasizes less spending, smaller deficits and renewed fiscal responsibility. But in one budget area, Romney is running the opposite direction. The former Massachusetts governor wants to increase defense spending by leaps and bounds. By one estimate, additional spending would exceed $2 trillion over the next decade. Romney has proposed a slew of tax cuts, and plans to cap federal spending at 20% of GDP. But in both cases, the Romney campaign hasn't fully explained how those provisions will be paid for. "Romney has listed a few specific cuts he would make in discretionary spending, but they are a fraction of the extra defense spending he proposes," said Jeffrey Vanke, a senior policy analyst at the Committee for a Responsible Federal Budget.


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