30
Apr
“What Romney would do: Cut taxes and regulations, shrink government, undo pretty much the entire Obama agenda, and stick it to labor.
The Good: Using independent boards of experts to assign federal research dollars. Allowing more highly skilled immigrants to work and stay in the country. Getting tough with China, assuming it’s done right.
The Bad: Requiring congressional approval of all “major” regulations, apparent reductions in funding of productive investments like education and infrastructure.
The Ugly: Capping total federal spending at 20 percent of GDP, with 4 percent reserved for defense—a potentially devastating reduction in government services that, if implemented swiftly, could also deal a serious economic blow. Then again, his numbers don’t really add up, so who knows what he’d really do?
The Verdict: The focus on lower taxes and regulation will appeal to conservatives who see those as major impediments to long-term growth. The lack of investment in education, infrastructure, and technology will worry everybody else. In some ways, the real story is what’s not here: Proposals designed specifically to boost growth in the short run, despite still-high unemployment.
They Said It: “Our best hope—and not an entirely implausible one—is that presumptive-nominee Romney has a secret plan for the economy. If he doesn’t, we may be in for years’ more stagnation.” - Josh Barro, in the Guardian”
- Jonathan Cohn, The Blind Spot in Romney’s Economic Plan
Photo courtesy of Business Insider





