In First Debate, Romney Puts Obama on the Defensive
Last night Romney pointed out specific issues that Obama has misrepresented and problematic policies that President Obama has pursued, here's a rundown of most of those mentioned last night:
-Overwhelming, inefficient overhead in federal government training programs
-How raising taxes on small business and middle income earners will stifle the economy, not help it grow.
-How energy production has grown faster on private lands, it's doing so despite the POTUS, not because of him, and could do more if the POTUS did more to help it happen.
-54 % percent of American workers work in businesses taxed at the individual tax rate, not corporate tax rate. Obama plans to increase the rate from 35 to 40%. Romney plans to lower the individual rates to make it easier for those businesses to start hiring again, as opposed to Obama's plan which as estimated will cost 700,000 jobs.
-Romney points out that Obama is wrong to say that Romney's plan is a repeat of the past, Romney says that it is different because, along with bringing down rates to raise revenue it will also bring down deductions, exemptions, and credits to help keep net revenue intact.
-Romney points out how Obama promised to cut the deficit in half, but infact doubled it, thereby increasing the moral hazard of continuing to run yearly trillion-dollar deficits while having to borrow from China to do so.
-That Obama had 4 years to tackle Simpson-Bowles, and instead of addressing a critical deficit reduction plan, pursued Obamacare, without a bipartisan support in Congress.
-That while Obama wants to eliminate the 2.8 billion that goes to oil companies like Exxon-Mobil, Romney pointed out that a large part of that goes to drilling operators, not "Big Oil," and that in fact Obama wants to eliminate the 2.8 billion while he gave 90 billion to solar and wind companies, many of which are failing or already belly-up.
-Romney says that with Obama's 716 billion Medicare reduciton, 15% of hospitals and nursing homes and 50% of doctors say they will have to stop taking Medicare patients. And 4 million seniors will lose Medicare Advantage with Obama's plan.
-That Dodd-Frank has unintended consequences, propping up big banks, while 122 small and community banks have closed since the bill's passage. Romney pointed out that he wants to repeal and replace Dodd-Frank with better provisions that include transparency and leverage limitations.
-That Dodd-Frank is supposed to keep banks from unqualified mortgages, but it never actually defines what makes a mortgage qualified or not. Romney says that such ambiguity puts lenders in a freeze position, because they don't know where the line is drawn.
-That Obama promised to lower healthcare costs by 2,500 per family, when in fact the CBO estimates Obamcare will increase healthcare costs by 2,500 per family. That Obamacare puts forth an unelected board of people who decides what kind of treatments the insured can get, while Romneycare did not have a board of uneleted people who decided what treatments people could get.That three-fourths of surveyed small-business say that Obamacare makes it less likely that they will hire people.
-More on Obamacare, that the CBO estimates up to 20 million people will lose their insurance when Obamacare gets fully installed next year. That, despite the fact that Obama claims Obamacare is based on conservative models like Romneycare, the GOP proposals were swept aside and Obamacare was passed on partisan lines, that Romney passed Romneycare on a bipartisan basis and will work with both parties if elected.
-That government is not the best at keeping costs down, in Romney's words, "In order to bring the cost of health care down, we don't need to have a board of 15 people telling us what kinds of treatments we should have. We instead need to put insurance plans, providers, hospitals, doctors on target such that they have an incentive, as you say, performance pay, for doing an excellent job, for keeping costs down, and that's happening. Intermountain Healthcare does it superbly well, Mayo Clinic is doing it superbly well, Cleveland Clinic, others." That in his plan, pre-existing conditions will still be covered and young people will still be able to stay on their parents' insurance, that such things are already possible in the private sector.
-That with tax reform Romney is not without specific ideas regarding loopholes and deductions, that he will work through them with Congress and he provided examples, in his words, "And I'm going to work together with Congress to say, OK, what -- what are the various ways we could bring down deductions, for instance? One way, for instance, would be to have a single number. Make up a number, $25,000, $50,000. Anybody can have deductions up to that amount. And then that number disappears for high-income people. That's one way one could do it. One could follow Bowles-Simpson as a model and take deduction by deduction and make differences that way. There are alternatives to accomplish the objective I have, which is to bring down rates, broaden the base, simplify the code, and create incentives for growth."
The most pressing social issue today is the economy