by RON SCHERER (Christian Science Monitor)
Mitt Romney offers a prescription for the ailing US economy that hews to Republican principles. But it also has some unorthodox differences. Well-off Americans could get fewer government benefits and pay more for Medicare.
Mitt Romney’s prescription for the sluggish US economy looks to be straight from the traditional Republican mold: Cut taxes to stimulate growth, and cut spending to shrink the federal deficit. Pour more money into defense. Promise to root out waste in government.
That means well-to-do Americans would eventually get a lesser share of benefits from those big government entitlement programs than they do now. “We don’t need Social Security to provide retirement income for upper-income people,” says Glenn Hubbard, a top economic adviser to Mr. Romney and the dean of the Columbia University Business School here, in an interview. “The nation can’t afford a very large program that’s across the board. What we can do is focus on people who really need help.” [MORE]