The Debate on the American Economy - Specifics

Romney’s campaign complains that the recent focus on their candidate’s experience at Bain Capital and his unwillingness to release tax returns is a distraction from the real issue: the economy. The campaign, however, refuses to offer any specifics on how to get the economy moving again. Although Romney has claimed that he will grow the economy by balancing the budget and reducing the debt, neither he nor his spokespeople can provide any specifics on how he will actually achieve this.

In an interview with Luke Russert earlier today, Romney spokeswoman Tara Wall addressed Russert’s requests for specific economic policy solutions. Russert cited analysis from independent groups that have shown Romney’s plan would actually add $2 trillion to the debt. 

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Ms. Wall’s responses – aside from being horribly inarticulate – demonstrate two things: 1) Romney, despite the events of the last two weeks, is still unwilling to inject policy into his campaign and 2) the Romney campaign has no coherent answer when their economic plan is actually held up to scrutiny.

On the second point, independent analysis has consistently shown that the Romney plan will add money to the deficit. It is nearly impossible to reduce deficits without raising revenue. Not only will Romney cut taxes, according to Wall, but he will repeal Obamacare and increase defense spending. The CBO has scored Obamacare as a cost-saving policy in the long run.

The fact is, Mitt Romney is espousing discredited supply-side economics disguised as deficit hawkishness. Romney’s policies will disproportionately benefit the wealthy, and, if he is actually serious about making up for lost revenue by eliminating tax preferences, will result in a net tax increase on middle class Americans. The American public needs to know this.

The president has made his economic case clear with specific policy proposals – he will raise revenue, reduce health care costs, and make prudent investments in our economic future. Romney continues to try to make this election about the economy. But without providing any specific policies of his own and by sending uninformed, inarticulate people on air, how can he expect to win this argument?