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What Will the Next 4 Years Bring? Part 2: If Mitt Romney wins.

Predicting what will happen with a Romney Victory is more difficult than predicting what will happen if Obama wins. This not because of the hypocritical Democratic talking point that Romney has not given enough specifics. Even if he did give more specifics, as he negotiates with Congress the actual product will be different. The reason it is difficult, is that unlike Obama, Romney’s plans depend on getting legislation through Congress. But the first and most obvious effect of a Romney victory is that there will be hope again that we can meet the major challenges we face.

Many conservatives have been insisting we need a complete repeal of Obamacare. This is obviously not going to happen. There is no way you get enough Democrats to put the country first. The key as to how much can be changed depends on how many Senate seats the GOP has after this election. Obviously if the GOP does not even take the Senate only minor changes will be made. But if we can get to 53 Senators there will be hope for significant changes. What that will be is hard to predict.

What we do know is Romney will get some version of his tax plan though Congress. For the first time in years we will have more than a short term plan on taxes that will give more stability and allow businesses to make plans. The lower rates will be good for small business and the economy. This is important for the Debt also because the best way to get more revenues is through growth. Not only does that provide higher revenue it also reduces the demand on government programs making cutting spending easier. This could be critical as many experts are predicting a Global recession in 2013 regardless who wins this election.

Romney will stop the attack on domestic energy. If we go after our own energy it will create massive amounts of jobs, reduce the trade deficit, and again create confidence for energy intensive industries.  How well his plan will progress towards energy independence is unknown, but we know for sure we will be producing more domestic energy coal, oil, and natural gas than under the Obama plan. Our dependence on foreign oil is structural weakness in our economy, ending that would be transformative for our economy, making the other major issues easier to tackle.

We will see serious spending reform which is critical to avoiding a debt crisis. This will allow us to make progress on cutting the deficit. Combine this with added growth from the lower tax rates on all business large and small whether they use the corporate rates or the individual rates, and the smarter less destructive regulations we will make real progress on deficit reduction. Growth to reduce expenses and increase revenues, combined with spending cuts is the true balanced approach we need.

Even if you believe in the fallacy that we need to increase taxes and cut spending like a Europe has tried and failed, is the best choice for deficit reduction, the Romney plan would be best. Obama will not cut any non-defense spending, while Romney will not raise taxes, so you must chose which to do first if you want both. Cutting spending first makes sense, since we have never really seen congress show they can cut spending we should do it while there is heavy pressure to do something .On the other hand we know Congress can raise taxes, but doing so would be far more damaging to the economy.

Will the changes be made in time to avoid a Debt Crisis, and before we experience inflation from our massive printing of dollars? We can’t answer this, but we know electing Romney gives us hope and a chance that we will not have if Obama wins.

It is obvious that Romney will be better for the Economy, Medicare, Debt, Social Security, Taxes, energy, and Healthcare. Recent polls show that people agree with this. That is why I am optimistic about the future of the country and this election. Unless there is a major external event, such as a sham deal with Iran, since Iran obviously prefers Obama, Romney will win and the GOP will control the Senate. The choice is simple do you believe in “Trickle down government”,  wealth redistribution on massive scale, collectivism, ignoring major challenges, and masterminds in Washington choosing for you how your life should be run then the Democrats are for you. But if you believe in capitalism, free markets, rights of individuals, dealing with challenges like an adult, and freedom then vote Republican.

Michael McClusky

8:20 am on Monday, October 22, 2012

I have heard that the Senate has a bigger problem than politics. The culture of the Senate is not to even take votes on measures and to not even produce an annual budget. The senators don't want to be held accountable so that they can get re=elected. All we can hope for in November is a high turn over rate. Maybe they will get the message.

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Carol

3:36 pm on Tuesday, October 23, 2012

Let's hope Romney doesn't win! On last nights debate, he didn't say anything but agreed with everything Obama said. He is not ready to be a leader of this country, so hope this is the last time he runs.

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Craig

3:42 pm on Tuesday, October 23, 2012

Based on the stupidity of your comment, there may be enough idiots in the USA who are too damn dumb to vote for the right man. Four years of Obama and what have we got to show for it? Another $6 Trillion in debt. Math was definately not your subject, apparently nothing was.
Keep hoping for change, see how well that works out for you.

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Nuitari

6:11 pm on Tuesday, October 23, 2012

Carol must have watched a different debate or got her opinion from the MSNBC overlords.

Romney shows much more presidential character than the democrat demigod. More and more, Obama is looking like a guilty dog waiting for a beating.

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Steve ®

7:28 pm on Tuesday, October 23, 2012

Housewives of Miami is not a presidential debate Carol

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Jeff Russell

11:54 am on Wednesday, October 24, 2012

Carol, please come to the reality that Romney is going to win. The polls have been pretty reliable in the last 4 elections whether people want to believe it or not and he now has about a 4.5% lead with the pollsters that matter. Romney will run for re-election and Ryan will win when he runs after Romney's 2 terms are up so you better buckle up for 16 years of Romney -Ryan. No more class warfare, socialism, hanging with Jay-z, buying votes from illegal immigrants and people on the dole. Ah, i can hear the birds chirping in the tree a little louder.

JByrd

7:56 am on Wednesday, October 24, 2012

Anyone know if the President's new plan is posted online? They've apparently made millions of copies to hand out, but don't think online. A little disappointed since only 2 weeks to election, but better late than never. I hope is fills the blank spot and addresses tax reform and spending reforms (e.g., entitlements).

Although we need to raise revenues to help close DEBT gap, I'd be careful w this shaky economy. Many think"During the Clinton years, we raised taxed yet saw growth". However, some big differences now vs 90s:

(1) We saw a large increase in productivity and growth was spurred in 90s as a result of the Internet boom (and increased use of computers). In fact, such a boom it formed a bubble that popped in 2000 ("Dot Com Crash").

(2) The Republican Congress and Clinton implemented some important reform (e.g., Welfare) which helped the economy by increasing confidence and improving incentives.

(3) We face much much stiffer competition from global competitors.

(4) Higher ratio of entitlement recipients/workers compared to 90s.

(5) Global slowdown vs 90s.

(6) It's new post "credit boom" and the new normal.

In sum, our circumstances today are much different compared to 90s. We need tax reform (simplifying) and overall spending reforms ASAP.

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Rob Morell

10:47 am on Thursday, October 25, 2012

If Romney doesn't get the students vote he won't wiin especially in Ohio. I can't believe that students still vote for this guy even when only 50 percent of them can't get a job once they graduate now!!! I guess that's the new normal.

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H.E. Pennypacker

10:52 am on Thursday, October 25, 2012

If they are unemployed, they need to blame Obongo, it's his economy.

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