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Over 400 independent economists signed a statement at the website Economists for Romney in support of what they call the Republican presidential candidate's "bold economic plan for America."
Five Nobel laureates (Gary Becker, Robert Lucas, Robert Mundell, Edward Prescott, and Myron Scholes) signed the statement which, in part, reads, “We enthusiastically endorse Governor Mitt Romney’s economic plan to create jobs and restore economic growth while returning America to its tradition of economic freedom.”
The economists also denounced Obama's economic ideas, claiming they led to an "an anemic economic recovery and high unemployment." They further assert, "his future plans are to double down on the failed policies, which will only prolong slow growth and high unemployment."............
These economists note that Romney would:
- Reduce marginal tax rates on business and wage incomes and broaden the tax base to increase investment, jobs, and living standards.
- End the exploding federal debt by controlling the growth of spending so federal spending does not exceed 20 percent of the economy.
- Restructure regulation to end “too big to fail,” improve credit availability to entrepreneurs and small businesses, and increase regulatory accountability, and ensure that all regulations pass rigorous benefit-cost tests.
- Improve our Social Security and Medicare programs by reducing their growth to sustainable levels, ensuring their viability over the long term, and protecting those in or near retirement.
- Reform our healthcare system to harness market forces and thereby reduce costs and increase quality, empowering patients and doctors, rather than the federal bureaucracy.
- Promote energy policies that increase domestic production, enlarge the use of all western hemisphere resources, encourage the use of new technologies, end wasteful subsidies, and rely more on market forces and less on government planners.
The economists note that Obama has:
- Relied on short-term “stimulus” programs, which provided little sustainable lift to the economy, and enacted and proposed significant tax increases for all Americans.
- Offered no plan to reduce federal spending and stop the growth of the debt-to-GDP ratio.
- Failed to propose Social Security reform and offered a Medicare proposal that relies on a panel of bureaucrats to set prices, quantities, and qualities of healthcare services.
- Favored a large expansion of economic regulation across many sectors, with little regard for proper cost-benefit analysis and with a disturbing degree of favoritism toward special interests.
- Enacted health care legislation that centralizes health care decisions and increases the power of the federal bureaucracy to impose one-size-fits-all solutions on patients and doctors, and creates greater incentives for waste.
- Favored expansion of one-size-fits-all federal rulemaking, with an erosion of the ability of state and local governments to make decisions appropriate for their particular circumstances.
Originally posted by xuenchen
The national debt is now at $15.97 Trillion !!
Time Bomb !
Originally posted by Wrabbit2000
Given the fact that almost everything that can be brought up against Mitt Romney so far has to do with the fact he *CAN* make money and a lot of it