Presidential candidates differing views on the economy
Without getting into every detail, the most important points to be taken from the debate is that Romney sees a dynamic economy that grows and contracts. An economy that as you lower taxes, jobs will be created and the economy will grow and revenue will increase more than if you raise taxes!
President Obama views the economy as static – he thinks that if one person earns more than another, that person had to take the money from one who doesn’t have it because the economy is finite. So, you must raise the taxes on the one who has it and give it to the one who does not, to level the playing field and make the economy “fair and balanced.”
Raising the taxes to increase spending (investment) causes small businesses to reduce hiring, the economy contracts, tax revenue actually decreases, borrowing begins and debt increases. So, the Obama progressives raise taxes again to fix that problem and the downward spiral has begun.
Also, as a business leader, Romney will come to a meeting with goals and objectives, not every detail of the plan, because that will be developed with experts, not political hacks, and he will sit down and discuss his objectives with those who agree and those who have other ideas, reach a consensus, implement a solution, measure the results and make corrections.
Obama, on the other hand uses the Chicago organizer method of persuasion – don’t explain your ideas with those of differing views, simply dictate healthcare to both sides and pass it late at night, preferably on the weekend. It’s the Chicago way or the highway.
During the debate, Obama discussed the economy by first blaming Bush and even though he boasted about creating five million jobs over the last 30 months, he omitted the first part of his term, which if included, lowers the jobs created during the last four years to less than 500,000.
Obama then quickly bypassed the lousy economy during his own term in office by saying, “The question here tonight is not where we’ve been, but where we’re going.” (Increasing spending by $5T more than revenue and increasing the national debt to $16T)
Romney then intervened, “I’m concerned that the path that we’re on has just been unsuccessful. The president has a view very similar to the view he had when he ran four years ago, that a bigger government, spending more, taxing more, regulating more, if you will, trickle-down government would work.”
Romney also pointed out that our government can not continue to borrow from future generations -forcing our own children and grandchildren to repay our debt to China.
Borrowing over $1.2T dollars every year of his presidency – defines Obama’s view of government economy!