The Republican Party platform promises to replace what it criticizes as President Barack Obama’s debt-swollen entitlement society with “a roaring job market to match a roaring economy.”
The platform reflects the influence of presidential candidate Mitt Romney, offering as the remedy for the nation’s economic ills a familiar recipe of low taxes, light regulation, expanded oil drilling and free enterprise. It vows to reduce personal and corporate taxes, repeal Obama’s health-care law, promote small businesses and avoid taxpayer bailouts of troubled financial institutions.
The 62-page roadmap, approved by a voice vote of the delegates yesterday at the party’s national convention in Tampa, Florida, promotes expanded trade and accuses the Obama administration of “a virtual surrender” to commercial rival China. The Asian country is stealing American trade secrets, manipulating its currency to make its exports cheaper, and hampering U.S. firms trying to sell to Chinese customers, the Republicans say.
Republicans call for banks to be “well-capitalized” and pledge to repeal the 2010 Dodd-Frank financial-regulation law.
Along with major economic policy shifts, the Republicans vow to transform the size and scope of government. Trillion- dollar annual budget deficits and mounting debt are harming job growth, they say. “The massive federal government is structurally and financially broken,” the platform says.
[…]Echoing a longtime demand of libertarian Representative Ron Paul of Texas, the platform calls for an annual audit of the Federal Reserve. And it proposes a commission to investigate “possible ways to set a fixed value for the dollar,” a reference to a potential revival of the gold standard.
The campaign document labels Fannie Mae and Freddie Mac, government-sponsored mortgage financiers, as “a primary cause of the housing crisis because their implicit government guarantee allowed them to avoid market discipline and make risky investments.”
That view, though widely held among conservatives, has been rejected by the Federal Reserve and three of the four Republicans on the government commission that investigated the 2008 financial meltdown.
Presumptive Republican nominee Mitt Romney called for increased transparency at the Federal Reserve Monday, voicing his strongest support yet for an audit of the country’s central banking system.
“The answer is yes to that, very plain and simple,” Romney responded, when asked by a supporter at a New Hampshire town hall whether it was time to audit the Fed. “The Federal Reserve should be accountable. We should see what they’re doing.”
The mark aligns Romney with a growing cadre of conservatives championing an audit of the Federal Reserve, a group led by Romney’s primary opponent Ron Paul and his acolytes. Earlier this month,Paul’s “Audit The Fed” bill passed the House of Representatives with overwhelming bipartisan support.
After taking a more measured stance on the issue during the Republican primaries, Romney has slowly moved to embrace a Federal Reserve audit as support for the issue grows with voters across the political spectrum. Romney’s new running mate, Wisconsin Congressman Paul Ryan, has been a vocal critic of the central banking system, and is listed as one of 268 co-sponsors of Paul’s bill.
Romney has also said that he will not reappoint Ben Bernanke if he is elected. I think that Ron Paul supporters should be able to decide who to support in the general election based on this information.
Right now, 23 million men and women are struggling to find work. Twenty-three million people, unemployed or underemployed. Nearly one in six Americans is living in poverty. Millions of young Americans have graduated from college during the Obama presidency, ready to use their gifts and get moving in life. Half of them can’t find the work they studied for, or any work at all.
So here’s the question: Without a change in leadership, why would the next four years be any different from the last four years?
The first troubling sign came with the stimulus. It was President Obama’s first and best shot at fixing the economy, at a time when he got everything he wanted under one-party rule. It cost $831 billion – the largest one-time expenditure ever by our federal government.
It went to companies like Solyndra, with their gold-plated connections, subsidized jobs, and make-believe markets. The stimulus was a case of political patronage, corporate welfare, and cronyism at their worst. You, the working men and women of this country, were cut out of the deal.
What did the taxpayers get out of the Obama stimulus? More debt. That money wasn’t just spent and wasted – it was borrowed, spent, and wasted.
Maybe the greatest waste of all was time. Here we were, faced with a massive job crisis – so deep that if everyone out of work stood in single file, that unemployment line would stretch the length of the entire American continent. You would think that any president, whatever his party, would make job creation, and nothing else, his first order of economic business.
But this president didn’t do that. Instead, we got a long, divisive, all-or-nothing attempt to put the federal government in charge of health care.
Obamacare comes to more than two thousand pages of rules, mandates, taxes, fees, and fines that have no place in a free country.
The president has declared that the debate over government-controlled health care is over. That will come as news to the millions of Americans who will elect Mitt Romney so we can repeal Obamacare.
And the biggest, coldest power play of all in Obamacare came at the expense of the elderly.
You see, even with all the hidden taxes to pay for the health care takeover, even with new taxes on nearly a million small businesses, the planners in Washington still didn’t have enough money. They needed more. They needed hundreds of billions more. So, they just took it all away from Medicare. Seven hundred and sixteen billion dollars, funneled out of Medicare by President Obama. An obligation we have to our parents and grandparents is being sacrificed, all to pay for a new entitlement we didn’t even ask for. The greatest threat to Medicare is Obamacare, and we’re going to stop it.
And another on Obama’s spending and debt:
Obamacare, as much as anything else, explains why a presidency that began with such anticipation now comes to such a disappointing close.
It began with a financial crisis; it ends with a job crisis.
It began with a housing crisis they alone didn’t cause; it ends with a housing crisis they didn’t correct.
It began with a perfect Triple-A credit rating for the United States; it ends with a downgraded America.
It all started off with stirring speeches, Greek columns, the thrill of something new. Now all that’s left is a presidency adrift, surviving on slogans that already seem tired, grasping at a moment that has already passed, like a ship trying to sail on yesterday’s wind.
President Obama was asked not long ago to reflect on any mistakes he might have made. He said, well, “I haven’t communicated enough.” He said his job is to “tell a story to the American people” – as if that’s the whole problem here? He needs to talk more, and weneed to be better listeners?
Ladies and gentlemen, these past four years we have suffered no shortage of words in the White House. What’s missing is leadership in the White House. And the story that Barack Obama does tell, forever shifting blame to the last administration, is getting old. The man assumed office almost four years ago – isn’t it about time he assumed responsibility?
In this generation, a defining responsibility of government is to steer our nation clear of a debt crisis while there is still time. Back in 2008, candidate Obama called a $10 trillion national debt “unpatriotic” – serious talk from what looked to be a serious reformer.
Yet by his own decisions, President Obama has added more debt than any other president before him, and more than all the troubled governments of Europe combined. One president, one term, $5 trillion in new debt.
He created a bipartisan debt commission. They came back with an urgent report. He thanked them, sent them on their way, and then did exactly nothing.
Republicans stepped up with good-faith reforms and solutions equal to the problems. How did the president respond? By doing nothing – nothing except to dodge and demagogue the issue.
So here we are, $16 trillion in debt and still he does nothing. In Europe, massive debts have put entire governments at risk of collapse, and still he does nothing. And all we have heard from this president and his team are attacks on anyone who dares to point out the obvious.
They have no answer to this simple reality: We need to stop spending money we don’t have.
And one more on Obama’s assault on job creators:
After four years of government trying to divide up the wealth, we will get America creating wealth again. With tax fairness and regulatory reform, we’ll put government back on the side of the men and women who create jobs, and the men and women who need jobs.
My Mom started a small business, and I’ve seen what it takes. Mom was 50 when my Dad died. She got on a bus every weekday for years, and rode 40 miles each morning to Madison. She earned a new degree and learned new skills to start her small business. It wasn’t just a new livelihood. It was a new life. And it transformed my Mom from a widow in grief to a small businesswoman whose happiness wasn’t just in the past. Her work gave her hope. It made our family proud. And to this day, my Mom is my role model.
Behind every small business, there’s a story worth knowing. All the corner shops in our towns and cities, the restaurants, cleaners, gyms, hair salons, hardware stores – these didn’t come out of nowhere. A lot of heart goes into each one. And if small businesspeople say they made it on their own, all they are saying is that nobody else worked seven days a week in their place. Nobody showed up in their place to open the door at five in the morning. Nobody did their thinking, and worrying, and sweating for them. After all that work, and in a bad economy, it sure doesn’t help to hear from their president that government gets the credit. What they deserve to hear is the truth: Yes, you did build that.
We have a plan for a stronger middle class, with the goal of generating 12 million new jobs over the next four years.
In a clean break from the Obama years, and frankly from the years before this president, we will keep federal spending at 20 percent of GDP, or less. That is enough. The choice is whether to put hard limits on economic growth, or hard limits on the size of government, and we choose to limit government.
And one more on liberty and personal responsibility:
College graduates should not have to live out their 20s in their childhood bedrooms, staring up at fading Obama posters and wondering when they can move out and get going with life. Everyone who feels stuck in the Obama economy is right to focus on the here and now. And I hope you understand this too, if you’re feeling left out or passed by: You have not failed, your leaders have failed you.
None of us have to settle for the best this administration offers – a dull, adventureless journey from one entitlement to the next, a government-planned life, a country where everything is free but us.
Listen to the way we’re spoken to already, as if everyone is stuck in some class or station in life, victims of circumstances beyond our control, with government there to help us cope with our fate.
It’s the exact opposite of everything I learned growing up in Wisconsin, or at college in Ohio. When I was waiting tables, washing dishes, or mowing lawns for money, I never thought of myself as stuck in some station in life. I was on my own path, my own journey, an American journey where I could think for myself, decide for myself, define happiness for myself. That’s what we do in this country. That’s the American Dream. That’s freedom, and I’ll take it any day over the supervision and sanctimony of the central planners.
This was the speech of the convention, which is why I am blogging on it. Don’t miss it.
WINTERY KNIGHT 