With Apologies to Mitt Romney

Since that’s the general theme of every blog post I seem to write aboot Mitt Romney, “With Apologies…” seemed like an apropos title, what with the whole hating on him during the primaries and all. I’m still catching up on a days worth of faux outrage and demagoguery (my computer just had the hardest time spell checking “demagoguery”), but it would appear a guy who may of actually learned a thing or two aboot the economy over the course of his career running things might have been a better choice after all.

I think this might be his course of action for the next year. While other R’s throw grenades and criticized whatever they can (just like the D’s would do to us if the roles were reversed), I think the Romney strategy is too act like a grown-up and write as many editorials as he can that basically say, “I know more aboot this stuff than you.”

Like in the “D.C. Examiner” today…

But look at the consequences: a budget that grows discretionary spending by a whopping 12%, that produces trillion-dollar deficits and that means much more borrowing from the Chinese and others. We may be approaching the tipping point where people who are lending us all that money will begin to worry about what the dollar will be worth in the future. President Obama’s excessive spending and borrowing could precipitate a crisis of confidence in our currency and lead to hyper-inflation, evaporating what is left of family savings and wiping out the middle class…

But American companies that have subsidiaries doing business in other countries already pay taxes there; making them pay higher US taxes will make them uncompetitive in those markets and cost jobs here. And the multinationals themselves will simply relocate outside the US. The result will not be more jobs and more tax revenue as the President claims, but less. The administration intends to sharply raise taxes on all investment income: interest, dividends and capital gains. But the pool of risk capital that finances new jobs and new businesses has already been shrunk by trillions of dollars; raising the tax on investment will shrink it further, depress job creation and result in less government revenue…

Even the President’s mortgage plan fails to adequately consider its long term consequences. By requiring investors and lenders to reduce the principal amount of their loan and by enabling bankruptcy judges to re-write mortgages, investors in the future will demand higher mortgage interest rates to compensate for their higher risk. Housing will suffer, as will responsible borrowers…

He goes into a lot more details issue by issue, so I’d suggest reading the whole thing. Romney’s path to 2012 (or even 2010) depends on a number of things, the least of which is his wife’s health. But even if he never runs for public office again, he’ll always be one of the top leaders in our party.

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