The two major presidential candidates, incumbent Democratic President Barack Obama and Republican challenger Mitt Romney, like to portray themselves as stark opposites on fiscal issues. Former Massachusetts Governor Mitt Romney portrays Obama as a spendthrift who would continue spiking federal spending and taxes. He also claims he would return the nation to fiscal sanity. Obama, on the other hand, claims Romney's proposals would be damaging to the economy.
In the video below — part one in a four-part series produced by our video partner Liberty News Network — The New American correspondent Thomas R. Eddlem takes a hard look at the budget numbers put out by the White House and the Romney campaign. In sum, both Obama and Romney would drag the nation further into a debt pit. The plunge into the pit for working Americans would be less taxing with Romney — though the debt crash would come sooner.
(See also our videos comparing Obama and Romney on foreign policy, civil liberties, and social issues. For a detailed article comparing the two candidates on major issues, see Thomas R. Eddlem's "Obama v. Romney: Their Core Beliefs.")