Ok so it’s not my chat as much as it is James Pethokoukis’s chat from “US News and World Report,” but it was chock full of information with Romney spittin’ a few verses on just aboot everything Economy related.
Coming out of the Conservative Public Action Convention (the same one where Rush Limbaugh gave his impassioned speech on how he wants American to succeed and each of us to strive) with his third “straw poll” win in a row, Romney is going to be on the top of the “2012” list until he says yes or no.
Especially if the economy stays the way it is, since Romney has both the experience AND the ability to articulate his plan, something our last candidate didn’t have either of.
Some snippets from the interview…
On economic stimulus: First of all, the economy is too big for the government to think it can pull a string and the economy will jump. It is a global economy and what is happening here will be affected by what is happening around the world. … So the best thing our government can do is encourage the conditions that allow new business to grow and old businesses to expand. And that means reduce burdens on them, provide incentives for them, encourage Americans to invest in them, build the pool of risk capital again, each of these things helps the private economy grow and that’s how you create jobs and that’s how you get us out of the doldrums we’re in.
On the banking system: About a year or so ago, I proposed a cooperative where banks could contribute their troubled assets into this cooperative and the cooperative would then work with homeowners or businesses and help work out the loans, work out specific terms which would allow them to be performing at some level, then return those funds to the owners of those assets instead forcing them to be written down at fire sale prices. … Today we are talking about a bad bank which has a similar characteristic . … The challenge in helping homeowners with their current mortgage is that you open the door to extraordinary abuse and misuse of these funds and what I have not seen is a good method for helping those who really need help and deserve help relative to those who either took advantage of the system or who were making a calculated investment bet.
On our economic challenges: We face an entirely different competitive world than we had in the past. Once again Russia is emerging as an economic and military power by virtue of its energy resources, and it intends to use energy as the source of its strength going forward. China is going to be a far more competitive economy than we have faced anywhere before. It will pass us in the scale of its GDP at some point in this coming century. Europe is becoming increasingly competitive as they are finally dealing with the threats from Asia. And so America is going to have to compete, and we can’t presume that the rest of the world is going to loan money to us so that we can live a lifestyle above that which we can create for ourselves. History has shown that free enterprise, freedom and small government is the favorite approach to growing an economy and remaining competitive, so an effort to move toward a European model of large government, high taxes and unnecessarily burdensome regulation would put us on a path to to be passed by other nations.
If the Obama economy goes the way a lot of us think it’s going to go, he’s the most qualified for the job. If there’s a miraculous turnaround…he’s next in line, and you know we ALWAYS pick the next in line (sarcasm).
Personally, I still like the rumours aboot Senator Romney better then a presidential run, and I hate even talking aboot 2012 in the first place…except of course when I’m looking for something to blog aboot.
I guess we’ll see when the book comes out.
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