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Romney Economics Piled Debt on Companies and Massachusetts Taxpayers – and Would Do the Same to the Entire Country

Mitt Romney has no credibility on controlling debt given his $5 trillion tax plan that would blow a hole in the budget, his private-sector record of piling debt on companies and his public sector record of running up debt on constituents.

Hypocrisy: Romney is in New Hampshire attacking the President on spending and debt. He’s the last person who should lecture Americans about debt and reckless spending.

  • Businessman: Romney economics loaded companies up with debt before bankrupting some and made millions of dollars for Romney and his partners while thousands of middle-class workers lost their jobs.
  • Governor: Romney economics loaded Massachusetts taxpayers up with debt before he left his successor with a $1 billion deficit and taxpayers with the most per-capita debt in the country. State spending went up by 6.5 percent a year.
  • As President: Romney economics promise to do the same thing. He’ll give $5 trillion in tax breaks weighted to millionaires and billionaires without saying how he’ll pay for it – because he knows that no matter what, the middle class will be stuck with the bill.

Romney is attacking debt created by two unfunded wars started before the President took office. The President responsibly ended the Iraq war and he’s drawing down our combat mission in Afghanistan. Romney wants to keep fighting those wars with no end in sight.

According to nonpartisan scorekeepers like the Congressional Budget Office, federal spending, taxes and deficits are all lower today than when the President took office.

We need to make smart, responsible investments to grow our economy for everyone and create an economy built to last. The President’s balanced plan will reduce our debt by $4 trillion, and he’s already signed into law a commitment to cut more than $2 trillion.