Republicans pledge to cut spending to reduce debt
SPARTANBURG, S.C.—Republicans vying for their party's presidential nomination are pledging to cut spending as a central part to their strategy to reducing the federal deficit.
Mitt Romney said Saturday night that the country cannot keep borrowing money from China to pay for domestic programs that aren't necessary, offering budget cuts to the arts and public broadcasting. Jon Huntsman pointed to Wisconsin Republican Rep. Paul Ryan's budget outline as a start to reduce the federal deficit, saying it offers a template that puts everything on the table.
Newt Gingrich says the United States needs to grow the economy to bring in more tax dollars. Those funds could then help develop the economy to balance future budgets.
And Michele Bachmann says her proposal is simple: end all of the 1960s' Great Society programs.