Romney economic plan cuts government, taxes

DETROIT — Republican presidential hopeful Mitt Romney on Friday unveiled his plan to cut taxes, reduce the size of government and reform entitlement spending, promising a crowd of more than 1,000 that he would get the economy back on track through conservative, pro-growth policies that would require everyone to sacrifice.

Romney’s major policy address, staged at Ford Field, was an outline of how the former Massachusetts governor would slash individual tax rates by 20 percent, reduce spending by hundreds of billions of dollars and cut the cost of Medicare and Social Security by raising the eligibility age and shrinking benefits for those who are wealthy.