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Obama vs. Romney 101: 5 ways they differ on debt and deficits
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President Obama and Mitt Romney agree: America’s debt situation is perilously close to a crisis. Mr. Obama inherited a $10.6 trillion national debt, which topped $16 trillion this Sept. 4. The federal government is spending $100 billion more than it takes in every month and has racked up $1 trillion-plus deficits for the past four years. It is on track to hit the national debt limit, currently set at $16.4 trillion, by late December.
Both candidates worry that a revolt in the bond market would send interest rates on US debt soaring, forcing politicians to find drastic and immediate reductions in government spending to get its fiscal house in order. But they differ sharply on how to to cope with a soaring national debt. Here are their views on government spending reductions, debt reduction targets, tax reform, the "fiscal cliff," and the national debt ceiling.
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President Obama and Mitt Romney offer sharply different views on how to get the nation back on a sustainable fiscal path. Here are five ways they differ on policies to cope with a soaring debt.
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By David Grant , Staff writer
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