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![]() » Recent NewsThe following are links to media reports and stories of interest: Albany Times Union - August 3, 2012 - “Obama And Romney - Where They Stand On The Issues" From The Article: Obama: Debt: A fourth-straight year of trillion-dollar deficits is projected. Federal spending is estimated at 23.5 percent of gross domestic product this year, up from about 20 percent in the previous administration, and is forecast to decline to 21.8 percent by 2016. Won approval to raise debt limit to avoid default. Calls for tackling the debt with a mix of spending cuts and revenue increases. Central to Obama’s plan is to let Bush-era tax cuts expire for couples making more than $250,000. That would generate more than $700 billion over 10 years. Also, would set a 30 percent tax rate on taxpayers making more than $1 million, increasing taxes for some but not all millionaires and billionaires. That would generate about $47 billion over 10 years. Reached agreement with congressional Republicans to cut $487 billion in military spending over a decade. Romney: Debt: Defended 2008 bailout of financial institutions as a necessary step to avoid the system’s collapse, opposed the bailout of General Motors and Chrysler and said any such aid should not single out specific companies. Would cap federal spending at 20 percent of gross domestic product by end of first term. Stayed silent on the debt-ceiling deal during its negotiation, only announcing his opposition to the final agreement shortly before lawmakers voted on it. Instead, endorsed GOP “cut, cap and balance” bill that had no chance of enactment. Favors constitutional balanced budget amendment. Proposes broad but largely unspecified cuts in federal spending. Among the few details: 10 percent cut in federal workforce, elimination of $1.6 billion in Amtrak subsidies and cuts of $600 million in support for the arts and broadcasting.
Albany Times-Union - July 30, 2012 - Amtrak Ttickets Join The Electronic Age
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