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Romney throws his economic plan overboard
02-27-2012, 10:00 PM
Post: #1
Romney throws his economic plan overboard
Romney throws his economic plan overboard
By David Frum, CNN Contributor
updated 9:10 AM EST, Mon February 27, 2012

(CNN) -- Compare and contrast the economic plan Mitt Romney released in September with the speech he delivered Friday in Detroit.

<..> "While the entire tax code is in dire need of a fundamental overhaul, Mitt Romney believes in holding the line against increases in marginal tax rates. The goals that President Bush pursued in bringing rates down to their current level -- to spur economic growth, encourage savings and investment, and help struggling Americans make ends meet -- are just as important today as they were a decade ago. Letting them lapse, as President Obama promises to do in 2012, is a step in precisely the wrong direction. If anything, the lower rates established by President Bush should be regarded as a directional marker on the road to more fundamental reform. " (Italics added.)

<..> • If Medicare, Social Security and defense are off the table -- and if the rest of the government is not to be obliterated entirely -- then hopes of deficit reduction after Romney's big tax cut will rest on the country zooming to Chinese levels of economic growth. What if that growth does not appear? It's one thing to incur dreadful deficits during the worst economic collapse since the Great Depression. The Romney plan threatens to institutionalize those deficits even during the period of recovery ahead.

Compassionate conservatism has been dead for a long time. Romney's Detroit speech cremated the remains. As a man, Romney remains far and away the most capable of the presidential candidates seeking the Republican nomination. But he has now finally eliminated the policy differences separating him from the radical congressional wing. If Romney should win the Republican nomination, moderate and independent voters nationwide will be forced to decide: If they vote for Romney, who is it they're truly voting for?

Worth the read.

My President is Barack Obama.
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