Romney Argues Big Spending Cuts Would Cause 'Depression,'Submitted by Calgary4Paul on Sat, 05/26/2012 - 11:29
"Asked by Time's Mark Halperin Wednesday why he wouldn't push major cuts in his first year, Romney responded with reasoning that would be largely uncontroversial if not for the past two years' mainstreaming of an economic philosophy that insists government spending actually costs jobs, rather than creates job.
"Well because, if you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5 percent. That is by definition throwing us into recession or depression. So I'm not going to do that, of course," Romney said in an answer picked up by former bank regulator William Black, a HuffPost blogger."
He's basically abandoning the GOP base with this comment. Surely he will be "walking back" this comment in a few hours.