U.S. & World

Epic clash nearing over tax boosts, spending cuts


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  • Doug10 Roosevelt, UT
    June 20, 2012 8:07 a.m.

    If Mitt Romney is elected president, the U.S. will experience an economic disaster the likes of which have been recently seen in Ireland, according to Paul Krugman, a nobel prize winning economist.

    "They've laid off a large fraction of their public workforce, they've slashed spending, they've had extreme austerity programs, they haven't really raised taxes on corporations or the rich at all, they have 14 percent unemployment, 30 percent youth unemployment, zero economic growth," Krugman said.

    Mitt's economic plan will increase the defict from 3.1% of GDP to 5% of GDP or approximately 1.2 trillion dollars.

    Remind me again why this country wants this economic guru in the white house.