On August 11, GOP presidential candidate, Mitt Romney officially introduced Paul Ryan as his vice presidential running mate, an announcement that all but ensures this year’s election will turn towards the deep philosophical divisions between the two parties views on spending, taxes, and entitlements.
Based on Mr. Ryan’s time in public office, much can already be deduced about his budgetary views impacting the federal contracting landscape. Notably, in April of this year, Mr. Ryan published his proposed budgetary policies that outline his stance on many key items:
Spending Cuts: Projects $5.8 trillion in spending cuts relative to CBO’s current-policy baseline
Corporate Taxes: Lowers the corporate tax rate to 25 percent
Size of Government: Reduces spending to less than 20 percent of GDP by 2015
Health Care: Repeals universal health care
In the end however, only time will tell which party will dictate public policy and how their choices will affect the government contracting community, but as November quickly approaches, we can all rest assured that the political rhetoric around these key policy decisions will be determining factors in the 2012 presidential race.