The president’s best efforts to resuscitate the stumbling economy have fallen short. Nothing indicates it would change with a second term in the White House.
The president’s prescription upon entering office was a dose of government stimulus, which was the right call because it put cash in the pockets of consumers, made investments in vital infrastructure and kept millions of teachers and police officers on the job.
That stimulus was necessary to bridge the nation from recession to recovery, but the time is past for more government stimulus.
Consumers must feel more confident about their own economic futures to begin spending on the products and services that power the economy. A renewed sense of confidence will spark renewed investment by American companies. Industry will return to full production and hiring will begin again.
That should come with Mitt Romney in the White House.
There is not a lot of difference between the two candidates’ short-term economic plans, as both are heavy on a promise of tax cuts for the middle class but short on details. Romney’s plan, however, goes beyond helping the middle class with tax breaks.
Throughout the campaign, he has expressed faith in the private sector to fuel a more robust economic recovery if it has more confidence that the federal government will not be an obstacle. Romney has a strategy for job growth through tax and regulatory relief for small businesses, encouraging all forms of domestic energy production, education that prepares graduates with job skills, expanding foreign trade and reducing the burden of federal deficits.
That formula, coupled with his business acumen, should unlock this nation’s economic potential.
Barack Obama rocketed to the presidency from relative obscurity with a theme of hope and change. A different reality has marked his presidency. His record on the economy the past four years does not suggest he would lead in the direction the nation must go in the next four years.
Voters should give Mitt Romney a chance to correct the nation’s fiscal course and to implode the partisan gridlock that has shackled Washington and the rest of America — with the understanding that he would face the same assessment in four years if he does not succeed.
It of course reads like a paper that has not endorsed a Republican in a general election in four decades, not giving John Boehner the credit he deserves in negotiations with the president and urging Romney to stay clear of the social issues. But that actually makes it all the more compelling to an undecided former Obama voter, I’d imagine.