Class Warfare Blog

May 24, 2012

Promises, Promises

Filed under: Economics,Politics — Steve Ruis @ 7:54 am
Tags: , ,

Presidential Candidate Mitt Romney has made several promises recently, among them that unemployment would be at 6% or lower at the end of his first term. Since predictions are that is what unemployment will be in 2017 if he does nothing, that is equivalent to a promise to do nothing about unemployment. Moving on, his other promises are to: cap federal spending at 20% of GDP, cut taxes to about 17 percent of GDP, keep defense spending at 4 percent of GDP, and he has pledged to balance the federal budget. Again, these numbers are perplexing in that with spending at 20% and taxes at 17% of the same number, I don’t see how the budget gets balanced (defined as spending = income or less), but I never did master Voodoo Economics, so I guess there is something here I just don’t see.

All of these promises, save the unemployment promise are very, very significant changes in the federal fiscal picture. What Candidate Romney does not address, though, is how he will get these things through Congress. Let us assume that not only does he get elected as President but that the GOP hangs on to the House of representatives and even takes control of the Senate with, say, 52 seats. As the Republicans have so clearly demonstrated, a minority party only needs 41 votes in the Senate to stop anything from happening.

So, how will President Romney get his program enacted? Will it be through compromise? The Republicans in Congress have declared compromise to be anathema, so that path seems unlikely to get even Republican support.

Just how does he plan on doing this?

I am waiting to hear his plan.

1 Comment »

  1. IF Romney were to be elected, I think he would be a very weak President. His flip-flopping and lack of to refusal to give details would extend to having the Republican House and Senate ‘lead’ the Country.

    Like

    Comment by fatherkane — May 27, 2012 @ 5:49 am | Reply


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