Tax cuts and spending cuts are necessary for growth.  With a national unemployment rate of 8.1% as of September 2012 [1], the United States economy has not recovered from the global financial crisis of 2008 and the recession that followed it. Governor Mitt Romney’s plan to cut taxes would lessen the burden on American citizens, and spur businesses and entrepreneurs to create more jobs.  Governor Romney advocates a Reagan-esque devotion to laissez-faire economics, arguing that with substantial tax cuts and limited regulation on private businesses, the economy will naturally grow. Mr Romney states on his website that he would reduce government spending from its current level, around $33,000 per household, to around $25,000, while maintaining individual tax rates but decreasing rates for private corporations. [2]  Regarding government programs, Governor Romney opposes President Obama’s spending, vowing to repeal Mr Obama’s healthcare act, saving the country around $95 billion, according to his website. He also has advocated cutting spending on social programs by 5 % (without touching national security spending) and pulling funding from the National Endowment of the Arts and Humanities, the Corporation for Public Broadcasting, and the Legal Services Corporation. Furthermore, he plans to save up to $100 million by reducing foreign aid.  The budget deficit will be reduced despite the proposed tax-cuts. This is because tax cuts will have a positive effect on growth, while the spending cuts and clamp down on loopholes and inefficiencies will also help cut the deficit.  Overall, Mitt Romney’s economic policies boil down to taxing less and spending less, allowing the free market to work uninhibited. As with Obama, Romney’s position on this issue reflects his broader beliefs about the problems facing America. His plan to eliminate Title X Family Planning funding, for example, draws quite publicly from his opposition to abortion rights. While, also like Obama, his main concern is lowering the national deficit and paying back the national debt, the ways he would go about it are very different from those of his opponent, and realistically would benefit very different types of Americans.  [1] Google Public Data,  , accessed 8/10/2012  [2] Mitt Romney Website,  , accessed 8/10/2012