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More than 500 economists, 5 Nobel laureates back Romney’s economic strategy

Posted by on Aug. 20, 2012 at 5:06 PM
  • 4 Replies

More than 500 economists, 5 Nobel laureates back Romney’s economic strategy

More than 500 economists — including five Nobel laureates — have endorsed Republican presidential candidate Mitt Romney’s economic plan as the right choice for jobs creation and economic growth.

The pro-Romney group “Economists for Romney” announced Monday that its statement of support for the former Massachusetts governor’s economic plan now has 526 signatories, up from 400 a week ago.

“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,” Economists for Romney’s statement of support reads, proclaiming Romney’s plan as based on “proven principles” to restrain the federal government and expand opportunities in the private sector.

The 526 economists — including Nobel laureates Gary Becker, Robert Lucas, Robert Mundell, Edward Prescott, and Myron Scholes — point to six facets of Romney’s economic approach that they see as beneficial to future economic success.

  • 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.

Seven of the signatories are from Harvard University and five from Columbia University — two of President Barack Obama’s alma maters.

The economists’ statement of support pillories Obama’s economic record, claiming that his expansion of the federal government has resulted in “anemic economic recovery and high unemployment,” which will continue if his future plans are implemented.

Among the Obama policies with which the 526 economists take issue include:

  • 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.


Read more: http://dailycaller.com/2012/08/20/more-than-500-economists-5-nobel-laureates-back-romneys-economic-strategy/#ixzz247fg5JpE
by on Aug. 20, 2012 at 5:06 PM
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Replies (1-4):
jaxTheMomm
by Gold Member on Aug. 20, 2012 at 5:18 PM

So then, the group that doesn't include the nobel prize winners and economists who don't support Ryan's plan?

_Kissy_
by on Aug. 20, 2012 at 5:19 PM
I prefer Obama's economists and professors

We seen what happens when economists back Republican plans
Posted on CafeMom Mobile
momof31995
by Bronze Member on Aug. 20, 2012 at 7:25 PM
What don't you [people get about this The United States is BROKE we are borrowing from China yet still have no way of paying it back so guess what Are you willing to give up pieces of our country to pay back China? because that is what it will come down to. Jesus christ people who just want free crap are idiots.
Carpy
by Platinum Member on Aug. 20, 2012 at 8:00 PM

But don'cha know, those Nobel prize winning economists think that's just wonderful if we spend our way into oblivion because we can just print more money.  They are in the same esteemed group as Al Gore, the guy who is terrified of warm sunny days, and Obama the peace monger.

Quoting momof31995:

What don't you [people get about this The United States is BROKE we are borrowing from China yet still have no way of paying it back so guess what Are you willing to give up pieces of our country to pay back China? because that is what it will come down to. Jesus christ people who just want free crap are idiots.


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