WASHINGTON-Republican presidential nominee Mitt Romney on Sunday denounced last year's bipartisan debt-ceiling deal that helped avert an unprecedented US government debt default even though one of its backers was his running mate, Paul Ryan. Without mentioning Ryan by name, Romney called the agreement between the White House and top congressional Republicans "a big mistake," citing potential big defense spending cuts that could come as part of the deal.
Lawmakers reached an 11th-hour deal in August 2011 after a huge showdown, agreeing on nearly US$1 trillion in federal spending cuts over ten years with the promise to impose another US$1.2 trillion to reduce budget deficits. The deal was coupled with an increase in the Treasury Department's borrowing authority, as it had bumped up against a legal limit. As head of the House of Representatives Budget Committee, Ryan backed last year's deal.
Reuters
