Here 'ya go folks...
The tax plan proposed by Republican presidential candidate Newt Gingrich would add $1.3 trillion to the U.S. budget deficit in 2015 alone, a new analysis shows, complicating his goal of balancing the government's books. The analysis by the nonpartisan Tax Policy Center compares the federal government's take under Gingrich's proposal with projected U.S. revenue if current tax law ran its course and existing income tax cuts expired as scheduled after 2012.
The tax plan proposed by Republican presidential candidate Newt Gingrich would add $1.3 trillion to the U.S. budget deficit in 2015 alone, a new analysis shows, complicating his goal of balancing the government's books.
The analysis by the nonpartisan Tax Policy Center compares the federal government's take under Gingrich's proposal with projected U.S. revenue if current tax law ran its course and existing income tax cuts expired as scheduled after 2012.
Yep. Of course Newt isn't talking about the sort of reduction in spending that would be required to go with this. None of the candidates are.
Gingrich's plan would leave enough money to cover the cost of so-called mandatory spending, a category that includes Medicare, Medicaid and Social Security, along with part of the interest on the U.S. debt. Dedicating the money for those purposes wouldn't leave any funds for defense spending or any other federal agency.
Read that again.
Gingrich gets into office and does this you can kiss the United States ability to borrow goodbye. We'll get Bill Still's plan the hard way and the entitlement spending along with everything else (including defense, I note) collapses down upon our ears.
Heh Newt: It's called Ponzi Scheme for a reason you douche!