• Mitt Romney, Republican candidate to the Presidential
election 2008 and former Governor of Massachusetts believes in
the principle of reaganomics wherein you cut taxes which is
believed to bring in economic growth. According to him the budget
should cut taxes on people earning incomes less than $200,000 a
year and also cut payroll taxes on people aged sixty five years
or older.

• He supports setting up a national catastrophic fund to
ensure that people are entitled to home owners insurance in the
event of some natural disasters like hurricanes, tornadoes etc.

• He brought forward an economic stimulus package with a
price tag of $233 billion which is aimed at generating long term
growth incentives. This can be achieved by expensing capital
expenditures in the next two years and lowering corporate tax
rate so that businesses will thrive and generate revenue.

• He perpetrates the need for becoming energy independent
by making investments in alternative energy sources, reduce gas
prices and reduce taxes on middle income Americans.

• Mitt Romney suggests bringing a cut in the 342 odd
different economic programs. Of course protecting the nation's
defense and military personnel is important therefore allocation
of funds for their welfare is important.

• He believes that he can bring in savings worth $300
billion dollars in 10 years by capping non defense discretionary
spending at inflation minus 1% and will veto any budget that
exceeds that cap.

• He wants to be known as the job senator by convincing
the government to cut deficits and raise American's savings rate
by making more capital available for companies for investment and
thereby increase employment opportunities.
		

• As the country squirms through recession, President
Obama's budget plans to reduce the decades of economic inequality
that prevails in the United States. By bringing in a progressive
tax code which would involve raising the tax rates for the high
income category proportionately and increasing the tax cuts and
credits of the middle and low income stratum.

• An overhaul of Health care thereby bringing down private
health costs is in the agenda. He signed the American Recovery
and Reinvestment Act aimed at creating 3.5 million new jobs,
making important infrastructural investments and giving tax
reliefs to 95% of working class Americans. 

• The President aims for a long term plan for the country
concerning clean and renewable energy. By developing alternative
sources of power like solar, bio fuels, thermal power etc he
plans to lessen imports of foreign oil thus reducing existing
deficits.

• By focusing on energy efficiency and conservation, and
curbing emissions the country would curb deadly pollution thereby
playing an active role in climate change issues.

• Obama recognizes the role of children and youth in
shaping the quality of America's future demography and thereby
supports reforms like 'No Child Left Behind' and improving
education in general right from the kindergarten level, giving
essential training and skills to teachers and rewarding them for
their good work etc.

• He aims to make college education accessible to all who
are competent by expanding Pell Grants and initiating new tax
credits. 

• Obama chooses to cut down on war costs in Iraq and
Afghanistan and proposes to keep aside $250 billion to bail out
the US financial industry besides the $700 billion already set
aside.

• Before his election, Obama said that he would require
disclosure of all congressional pet projects and force lawmakers
pay for any new spending or tax breaks through new revenue and
cuts in other programs.