Instead of stabilizing the debt, CRFB president Maya MacGuineas says Republican campaign platforms would add to it, some more than others.
"Under Gingrich's proposals, the debt would increase by $7 trillion compared to that amount and the debt levels would reach 114 percent of GDP," said MacGuineas.
The study, based on specific candidate proposals, shows Congressman Ron Paul's policies would reduce debt by $2.2 trillion. But the study says Paul's plan offsets proposed tax cuts by eliminating prominent government agencies, including the Federal Reserve.
Mitt Romney's blueprint would add $250 billion to the debt, while Rick Santorum's tax cuts would add $4.5 trillion.
Analysts say the accounting problem stems from Republican aversion to new taxes. Former Congressional Budget Office Director Alice Rivlin says the analysis shows a more balanced approach is needed.
"I think it is totally unrealistic that we can stabilize the debt over the long term without both increases in revenues and reductions in entitlements," said Rivlin.
U.S. Budget Watch expects Republican candidates will dispute the group's findings. But the group welcomes the dialogue if it brings more transparency and compromise. The group says it plans to release a separate analysis of President Obama's economic agenda.
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2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25