36 economists rated Obama’s performance in handling the economy — 13 of them rated his performance “poor” and none rated him “excellent.” Surprise, surprise! (See graph to view the federal spending since Obama took office and projected spending).
This Associated Press article goes on to say,
Asked which of the Republican presidential candidates would do the best job managing the economy, two thirds of the economists named Romney, one chose former House Speaker Newt Gingrich. The rest didn’t pick anyone at all.
Allen Sinai, president of Decision Economics, says Romney, who ran a private equity firm before turning to politics, is the “hands down” choice among Republican presidential contenders squaring off in the Jan. 3 Iowa caucuses.
“Romney’s a technocrat,” Sinai says. “He’s not an ideologue. He has a history in the real world of business.”
As to Obama’s huge infusion of government stimulus funds, Sinai goes on to say,
. . . public works projects failed to pull Japan out of a long economic slump that began in the 1990s and continues today. After the money is spent, “you’re left with deficits and debt. And someday if you need new government stimulus, you can’t afford it. And that’s where we are now,” Sinai says.
The AP authors Wiseman and Kravitz state why economists so overwhelmingly chose Romney over all the other Republican candidates,
Many of those who chose Romney couldn’t cite any of the former Massachusetts governor’s economic proposals. Nevertheless, his background won over the economists. Romney graduated from Harvard Business School and served as CEO of Bain & Company, a management consulting business in Boston, and Bain Capital, a spinoff investment firm, in the 1980s and 90s.”He has the experience that the other candidates lack,” says Harris of UBS Securities.
Some of his Republican rivals have taken unconventional positions. Texas Rep. Ron Paul advocates abolishing the Federal Reserve and returning to the gold standard. Texas Gov. Rick Perry has said it would be “almost treasonous” for Bernanke to try a third round of bond purchases to jolt the economy before November’s election.
Among Romney’s chief economic plans: repealing the Obama administration’s health-care law; cutting the corporate tax rate from 35 percent to 25 percent; and making permanent tax cuts on dividends, interest and capital gains from President George W. Bush’s administration.
“He thinks about the economy in a more global way” than his GOP rivals, Naroff says. “He’s not a rigid ideologue.”
No other candidate even compares to Governor Romney’s credentials when it comes to economic expertise!
“It is rare to find a business partner who is selfless. If you are lucky it happens once in a lifetime.” — Michael Eisner