December 16, 2011 | 8 comments
December 15, 2011 | 3 comments
December 15, 2011 | 0 comments
December 14, 2011 | 39 comments
December 14, 2011 | 4 comments
Mitt Romney’s outline for lowering deficits includes an assumption that the U.S. economy will grow at 4 percent annually. Tim Pawlenty was questioned for making a similar promise in his economic plan, and rightly so. Although 4 percent GDP growth, especially in the wake of a recession, should be attainable, there’s nothing to be gained by assuming that it will happen. For Romney to use a 4 percent growth baseline in planning to lower deficits is a perversion of “plan for the worst, hope for the best.”
So I’m not persuaded by arguments like Jim Pethokoukis’s:
Romney said his policies would help U.S. growth accelerate to 4 percent annually. Gutsy. Recall how Tim Pawlenty was mocked mercilessly for setting a 5 percent growth target. Overall, U.S. GDP growth has averaged 3.3 percent the past 50 years. But many economists think aging America will need to settle for growth closer to 2 percent long term. Romney, however, seems to agree with consultant McKinsey that a higher retirement age and smarter immigration policy, along with smarter regulation and pro-investment tax policy, could allow the United States to maintain its historic growth rate, if not higher. More importantly, the target represents a rejection of the declinist mentality.
Promise all the growth you want. Just prepare for a lingering recession when you’re figuring out how much spending needs to be cut.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?