Posted by Tina
Economists are jumping on board to support Mitt Romney’s economic proposals for recovery, jobs, and growth!
A visit to the website EconomistsFor Romney had the count at 650 signatories that, according to The Daily Caller, includes five Nobel Laureates:
“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.
The article goes on to list the Obama policies that they reject and why.
In a related story, Fred Barnes of The Weekly Standard has an excellent article dispelling the leftist myth that Obama “saved the country” from “the worst recession since the Great Depression”. It is well worth a read! A little tease:
That the president saved us is an empty boast. The Obama camp cites the stimulus package enacted in February 2009 as evidence for the claim. But on inspection, this proof dissolves. The stimulus wasn’t responsible even for halting the recession, much less keeping America out of a depression. The recession officially ended in June 2009–at a time when only a fraction of the $831 billion in stimulus funds had been spent.
We Americans are hungry for economic growth and JOBS! We have suffered long enough on the redistribution policies of president Obama. Economists agree that Romney knows how to create conditions for business to freely engage in commerce, grow their companies and put Americans back to work.
Romney knows what to do to get us working again…leading economists agree! This is the most important issue facing America. We need a strong economy for our families and communities and we need a strong economy to stand strong for freedom. Romney-Ryan is the sensible choice.
Never made sense to me how the recession ended June 2009, just five months after Obama took office, but the economy and jobs have continued a downward spiral deeper into a bottomless pit.
Thanks for the good news. With each passing day it feels like Romney’s chance of winning grows stronger. I don’t need over 600 economic experts telling me Obama’s plan for our country is wrong when I compare how I budget my own expenses. It’s very basic accounting not to spend more than I can afford. How Obama and the rest of the progressive movement believe they can bring economic growth while bankrupting our country is beyond comprehension.
Side note:
What happend to the comment and article lists that used to appear on PS’s front page? Miss them. It was easy to keep up with new comments when added to articles.
Hi Peggy, that was not our doing, it was a change in the software. Sorry.
It’s working now, so all is well again. Thanks
So, does this many economists qualify as a “consensus”? Does that mean that democrats are economic deniers now?
Peggy you got that right! Spending is the problem.
The recession began in December 2007 and ended June 1009 which was only two months longer than previous recessions.
The recovery has bumped along with sluggish growth for most of the quarters since then. One economist wrote that just as we were coming out of the recession Obama’s policies started effecting the economy. According to an article in Forbes: “During his (Obama’s) entire tenure in the oval office, median household income has declined by 7.3%.” That a little over 4K per family. Here’s more:
http://www.forbes.com/sites/peterferrara/2012/09/02/obamas-accelerating-downward-spiral-for-america/
Republicans lost their way during the Bush years. Let’s hope that if given power again they will have learned their lesson…I know the Tea Party will hold their feet to the fire.
According to the Bureau of Labor Statistics, there are 15,400 professional economists in the US. So less than one quarter of one percent of economists support Romney.
Got anything else?
Nice try Jim but also not accurate.
This post was about a growing list of economists that do support Romney and their reasons for doing so. “One quarter of one percent” so far know about and have signed on to this statement of support. As of this morning the number has grown to 670. At the time of the report five are Nobel Laureates…no news if this number has also grown (smile).
This post was not about every economist in the nation. We have no idea how every economist would vote. This CNNMoney article indicates Romney has an edge with economists although those interviewed were not enthused about either candidate. The article posted one day before the first debate.:
http://www.dailyfinance.com/2012/10/01/economists-reluctantly-pick-romney/
Tina, I have no doubt that Obama, the democrat controlled Congress, Senate and republicans who voted to support his economy busting bills are responsible for this Great Recession aka: Depression we are currently in. We didnt feel the end of the Bush term recession because the Obama depression kicked in on its heals wiping out any gained recovery plunging us down again and even deeper.
The economic bodies that line the road are staggering. When has our nation ever had its credit rating down graded? Never before. When has the US ever had to stimulate the economy three times by printing more money decreasing the value of every dollar earned and spent. QE1-2-3? Never before. When have records been broken for the number of people on food stamps, unemployment, disability insurance, and every type of public assistance program available? Never before.
The trail is almost four years long lined with economic bodies showing the failures of the past and what the road ahead will be if a different path isnt taken with a different leader.
What this administration has been good at is covering up their failures with the constant blame Bush chant. We hear it out of every Obama and DNC talking head who opens their mouth. Weve heard it so often weve forgotten the recession ended in June 2009 convincing us that Obamas failures are still Bushs absolving him, and the democrat controlled Congress of their responsibilities.
It frustrates me when the Republicans dont counter the, Blame Bush statement with, The 2007 recession ended in June 2009 forcing the current economic crisis were in on those currently in control. I want it said every time so people will make the connection and recognize the lies and manipulations of the Democrats to
realize theyre being lied to.
Im just finishing Dick Morris book Screwed and recommend it because he provides the history of our economy and links it to current events in easily understandable language. He explains what and how the UN and the various committees like IMF, the treaties and those in control have and will impact the US as well as other nations. He names both party members and holds them accountable for their actions while members of congress and after leaving to become lobbyist. Most interesting was just how harmful foreign aid has been to countries versus how private investment benefits economic growth in third world nations.
We have no way of knowing for sure what Romney will do, but its very clear what Obama has done and will do if elected again for another four years. Based on what we know we cant afford or survive another four years of Obama. I wasnt a big Romney supporter in the past, but have grown to believe he has the ability to bring us back to a sound economy again, but he cant do it alone. We need to retain control of the House and gain control of the Senate. Then and only then will the Democrats be put in a position of doing no further harm and our nation can heal and become strong again. Votes for senators is equally important to the president vote!
Closely second to my concern for Obama being reelected is my fear for what he will do between November and January if he looses. He could do so much damage by signing those UN treaties and pushing mandates through with his executive orders and fiats we could loose our right to have guns, drill for oil in our coastal waters and paying more taxes to be given to poorer countries. The list is long of the damage that can be done and the negative impact on us and our country is very real in my opinion.
Steve its hard to know how democrats think about the economy…what I keep hearing are things like, “8% unemployment may be the new norm” or “the private sector is doing fine”. It would seem that as long as big government has money to print and spend the economy is just great! Woo hoo!
“Nice try Jim but also not accurate.”
Actually economists appear to be more evenly split between the two. See this article in The Economist magazine:
http://www.economist.com/node/21564175
Interesting article, Jim. I’m not surprised given the equal division in most polling. I found this bit from the article informative:
Academics as we all know usually have little if any practical real world experience. They rely on theories and pick a theory of preference that squares with their social and political ideology and worldview…Keynesian and socialist (big government).
This was also telling:
This article, written by an economist/professor from the “economists for Romney” site is extracted from his talks with students and gives me hope for the future. In it he points to the problems that Obama’s short term interventions create and the way that Romney’s broad, long term policies will create recovery in the overall economy:
http://economistsforromney.com/2012/10/05/the-romney-cure-for-obama-induced-economic-ills/