Deregulating the market is precisely what is not required at the moment. The financial crisis of 2008 caused by irresponsible banking has shown that more than ever, regulation is necessary to ensure that corporations act responsibly and recognise the significance of social good, not just financial profit.  Cutting Medicare will lead to huge numbers of people no longer having access to affordable healthcare. Romney talks of this scenario as if a market without Medicare would be better because people would be able to choose one of the more competitive, more efficient private insurance companies for their health care. Once more however, this is only applicable for those who can afford such a choice! Not providing a safety net and preventing millions of people from attaining treatment for illnesses or chronic conditions is a huge failing from the part of the government.  Lastly, it is not true that cutting spending and taxes reduces the budget deficit. This was exactly the policy tried by George W. Bush and only led to a widening of the budget deficit and an increase of the total federal debt. By contrast, Obama’s plan of cutting inefficiencies and increasing tax on the country’s wealthiest has already been tried and tested under President Clinton and it resulted in a budget surplus.