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sugar
Guru
Joined: 07 Aug 2004
Posts: 579
Location: Morrinsville, New Zealand
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 Posted: Sun Apr 29, 2012 5:14 am Post subject: Mitten's advisors prepare for Romney invasion |
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by creating strawmen. The Romney invasion is upon us!
| Quote: | Romney must release a credible budget
Political arithmetic is invariably suspect and one should always examine carefully the claims of those seeking votes. However, just as one should look at audited and unaudited financials very differently when deciding whether to invest in a company, smart observers have learnt to distinguish between the claims of political candidates and their advisers on one hand, and proposals evaluated by non-political scorekeepers such as the Congressional Budget Office on the other.
This principle has never been better illustrated than by the “budget analysis” put forward by Glenn Hubbard, an economic adviser, to Mitt Romney, the presumptive Republican nominee. In an op-ed published on Wednesday in the Wall Street Journal, he constructs a budget plan he imagines President Barack Obama might one day propose, engages in a set of his own extrapolations, then makes several assertions about it. He does not discuss Mr Obama’s actual plan or how it has been evaluated by the CBO. Nor does he defend the claims Mr Romney has made regarding his own fiscal plans.
Mr Obama has put forward a plan that would cut deficits by more than $4tn over the decade. It starts by making tough decisions on spending, bringing discretionary spending to its lowest levels since the 1960s. It includes $2.50 in spending cuts for every $1 in additional revenue. It also asks everyone to pay their fair share of taxes, repealing the tax cuts made by President George W. Bush for families making more than $250,000 and closing loopholes and shelters such as preferences for private jets, hedge fund managers, and offshore investments.
The independent CBO confirms that the plan would stabilise the debt as a share of the economy, returning us to a sustainable fiscal path. It would do that while allowing increased investments in education, research and infrastructure that are critical to stronger, shared economic growth in the years to come. By focusing on building a robust economy for the future, it expands the tax base and reduces pressures for future tax increases.
But rather than criticise this approach, Mr Hubbard ignores it – and instead chooses to invent a set of assumptions that bear no relationship to the president’s actual policies. His figures are not explained, but they apparently arbitrarily assume that the president must raise taxes to pay for spending above a level of Mr Hubbard’s choosing. This hypothetical exercise bears no resemblance to the president’s policies.
Rather than filling imaginary gaps in the president’s budget, which has been spelt out in sufficient detail to permit evaluation by independent experts, Mr Hubbard should perhaps fill in some of the many gaps in the current presentations of Mr Romney’s economic plans.
He could start with the tax plan. The Romney campaign has been very clear about what he is promising: $5tn in tax cuts on top of extending the Bush tax cuts, with those benefits heavily weighted towards the wealthiest taxpayers. |
http://www.ft.com/intl/cms/s/2/3f0ae7fe-8f8a-11e1-98b1-00144feab49a.html#axzz1tP2nD2Fu
Title edited for compliance with the "Schwarzenegger's mother" clause of the OTW Posting Guidelines. — JRG
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Jesus Could Be Their Candidate and the Republicans Would Still Lose |
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petrjanda
Veteran
Joined: 05 Sep 2003
Posts: 1557
Location: Brno, Czech Republic
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| Posted: Sun Apr 29, 2012 10:56 pm Post subject: Re: [Rcunts] Mitten's advisors prepare for Romney invasion |
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They are merely clipping off the proposed budget growth. Not cutting anything. Anyone who tells you otherwise is a paid party hack.(both republican and democrat)
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There is, a not-born, a not-become, a not-made, a not-compounded. If that unborn, not-become, not-made, not-compounded were not, there would be no escape from this here that is born, become, made and compounded. - Gautama Siddharta |
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pjp
Administrator
Joined: 16 Apr 2002
Posts: 16029
Location: Colorado
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| Posted: Mon Apr 30, 2012 2:39 am Post subject: |
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1-20-13
The Nightmare Ends
(What A Long Night!)
He Is Not Our King!
Impeach Obama
I'm Tired Of All The Oblabla.
Oh, and here's a nice one.
It's amazing to go back and see all the anti-Bush stuff given how much of it is more fitting for Obama.
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lolgov. 'cause where we're going, you don't have civil liberties.
In Loving Memory
1787 - 2008 |
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