RE: Reagan never gutted spending, though he had a deal with Tip ONeil to decrease spending in exchange for some tax increases (ONeil lied).
Papa Bush did the same thing when he broke his “Read my lips” pledge. Result: Tax increase, no decreases in spending. See a pattern here?
Romney will have a republican House and probably Senate as well--he will have absolutely no excuse not to submit a responsible budget and expect it to be passed.