Romney Obama Obama Romney
 
The 57th United States presidential election has once again predictably narrowed down to only two realistic presidential candidates: the incumbent, President Barack Obama for the Democrats, and Gov. Mitt Romney, for the Republicans. Accordingly, we've compiled the most comprehensive database of their positions on all the topics and all the issues to assist you, the electorate, in casting your vote on November 6. Just scroll down below the introductions and click one of the 29 issues and 12 profile categories to compare the political stances and biographical data of 2012 Presidential Candidates.



The will be held on Tuesday, November 8th, 2016  ♦  2016 Presidential Candidates



 




2012 Republican Presidential Nominee

Former Governor of Massachusetts
Mitt Romney

Romney's profile and positions on the issues



Update: Romney became the second Republican presidential candidate, after Jon Huntsman, to offer a full-fledged detailed economic plan when he announced a 59-point job and economic proposal during a speech at the McCandless International Trucks dealership in Nevada, Las Vegas on September 6, 2011. Called 'Day One, Job One', the plan's main objective would be to "restore America to the path of robust economic growth necessary to create jobs.".

If elected, Romney pledged to initiate 10 major actions on the first day of his presidency, consisting of five Bills and 5 Executive Orders, which are

5 Bills For Day One
The American Competitiveness Act
Reduces the corporate income tax rate to 25%
The Open Markets Act
Implements Free Trade Agreements with Colombia, Panama, and South Korea
The Domestic Energy Act
Directs the Department of the Interior to undertake a comprehensive energy review
The Retraining Reform Act
Consolidates federal retraining programs and return these programs to the states
The Down Payment on Fiscal Sanity Act
Immediately cuts non-security discretionary spending by 5 percent ($20 billion)

5 Executive Orders For Day One
An Order to Pave the Way to End Obamacare
• Secretary of Health and Human Services to return the maximum possible authority to the states
An Order to Cut Red Tape
• All agencies to initiate the elimination of Obama-era regulations that burden the economy or job creation
An Order to Boost Domestic Energy Production
• Department of the Interior to implement a process for rapid issuance of drilling permits to
An Order to Sanction China for Unfair Trade Practices
• Department of the Treasury to list China as a currency manipulator and the Department of Commerce to assess countervailing duties on Chinese imports
An Order to Empower American Businesses and Workers
• Reverses the executive orders issued by President Obama that tilt the playing field in favor of organized labor

“Today, I’m introducing a plan consisting of 59 specific proposals — including 10 concrete actions I will take on my first day in office — to turn around America’s economy. Each proposal is rooted in the conservative premise that government itself cannot create jobs.”




Budget

“And change is going to have to begin with us, in our party. We're the party of change. We are the party of fiscal responsibility, and when Republicans act like Democrats, America loses. And you've seen that over the last several years.

We're going to have to make sure that we rein in spending. It's not just the -- we -- we all agree on the -- the earmarks and the pork barrel spending and the "Bridge to Nowhere." That's -- that's an easy one to take a shot at. But the big one is entitlements and reining in entitlement costs, and that's -- that's where the big dollars are.

And then you go on to say how are we going to bring down taxation, because we have the highest tax rate, next to Japan, in the world. That's -- that hurts our economy.

What you're seeing in a weakening dollar, in a declining stock market, in -- in foreign countries coming here to -- to buy into our banks, you're seeing an underground -- the foundation of our economy being shaken by the fact that we haven't been doing the job that needs to be done in Washington. And I'm going to Washington to change Washington.”


January 24, 2008, Republican Presidential Debate, Boca Raton Florida

Deficit
"It is instead however an objective for us to balance our budget and to take in as much money as we spent. How do you do that? Well you have to cut back on spending and I propose, I don't know if the other candidates are willing to sign for the same pledge, and that is, I'm going to take non-military discretionary spending and I'm gonna say I'm gonna cap that at inflation less one percent. So, one percent lower than inflation and that saves us 300 billion dollars over the next ten years. And that’s one commitment that I made, that’s what I’m gonna do. (If) Congress sends me appropriations bill which exceeds that amount, I will veto them. I like vetoing.

But I am a fiscal conservative. I believe in cutting spending and cutting taxes."


April 03, 2007, New Hampshire Federation of Republican Women's Lilac Dinner



Debts
"I'd like to start by balancing our budget and get it to a point where we stop spending more than we take in our national debt you know is huge in its total scale and actually eliminating of the national debt is not something I would put down as an objective in the first four years that’s for sure."

April 03, 2007, New Hampshire Federation of Republican Women's Lilac Dinner

Policy
Romney, who prides himself on being a pragmatic and successful businessman, is a proponent of Reaganomics.

"The last time we had a recession, in the Bush years, President Bush recognized the best thing you can do is lower taxes and put forward a tax bill. And John McCain was one of only two Republicans to vote against it, and said he'd go back and vote against it again if he could.

He does not understand the first lesson of Reaganomics, which is, you cut taxes to grow the economy.”


January 27, 2008, CNN Late Edition With Wolf Blitzer


Compare Mitt Romney and Gary Johnson on the Economy
2012 Democratic Presidential Nominee

Current President of the United States
Barack Obama

Obama's profile and positions on the issues



Budget
No matter how one looks at it, the 2012 presidential election will be a referendum on the economic policies of the Obama administration. The sub-prime mortgage fiasco of 2007/08 and the resulting recession, which wiped off almost $17 trillion from the wealth of the citizenry, played a prominent part in Senator John McCain’s defeat to President Obama in the 2008 presidential election. The aftereffects of that recession are now threatening to derail the Obama presidency. Things are definitely not looking particularly rosy for the Democrats at the moment, and the tepid job market is certainly not helping.

President Obama is being personally held responsible by a majority of the conservative Republican base for the spiraling federal debt, the unchecked federal deficit of the past three years and the general sense of malaise pervading the psyche of the nation.

However, despite unceasing pressure from GOP lawmakers, President Obama remains unyielding on one of the bulwarks of his 2008 presidential election campaign, which is also one of the principal tenets of his socioeconomic policy – Social Security, along with Medicare and Medicaid.

A myriad set of numbers have been traded across the political spectrum on the size of unfunded entitlement liabilities, with some estimating the figure to be in excess of a hundred trillion dollars, highlighting the urgent need to either revamp or dismantle entitlement programs to fix the budget and in the process, salvage the long-term future of the nation.

However, the Obama administration, with the declared aim of repealing the tax cuts of former President Bush and bringing the federal tax rates back to the 40% level of the Clinton era, is confident that the additional tax revenue and amendments of entitlement programs benefits will restore the fiscal viability of the social net mechanism.

Less one forget, this is a central part of President Obama’s manifesto in the 2008 campaign.

"I will reform our tax code so that it is simple, fair, and advances opportunity, instead of distorting the market by advancing the agenda of some lobbyist or oil company. And I'll use the money to help pay for a middle class tax cut that will provide $1000 dollars of relief… We'll also eliminate income taxes for any retiree making less than $50,000 per year. Because every senior, every senior, deserves to live out their life in dignity and respect… I will never waver in my commitment to protect that basic promise as president. We will not privatize Social Security. We will not raise the retirement age and we will save Social Security for future generations by asking the wealthiest Americans to pay their fair share”

Blueprint For Change: Fiscal, Barack Obama’s Campaign Manifesto for the 2008 Election




The key requirement towards a short-term fix for our budget lies with reducing unemployment. Halving of the unemployment rate would see the nation receiving a gross injection of almost $400 billion annually into the economy from direct wages and reduced support costs. The Obama administration claims that they are well on their way towards achieving that, pointing at the recovery of employment figures as a result of the $787 billion American Recovery and Reinvestment Act of 2009 stimulus spending beginning from February 2009.




Opinions are sharply divided along partisan lines, with legislators trading blows almost daily in the capitol and on the national media.

Deficit and Debts

President Barack Obama has presided over the largest federal budget deficit in the nation’s history, and the federal debt in turn, has skyrocketed into stratospheric levels.

His first full budget, for the period between October 1, 2009 to September 30 2010, showed a net operating deficit of $1.294 trillion. Between Jan 2009 to June 2011, the federal debt grew from $10.6 trillion to $14.3 trillion, an increase of $3.7 trillion. The White House has projected that the federal deficit will peak in 2011, featuring a record breaking $1.645 trillion, before leveling off to sub-$700 billion position starting from 2014.

So how does President Obama reconcile these numbers with the pledge he made in his 2011 State of the Union Address?

“Now the final critical step in winning the future is to make sure that we aren't buried in a mountain of debt. We are living with a legacy of deficit spending that began almost a decade ago. And in the wake of the financial crisis, some of that was necessary to keep credit flowing, save jobs, and put money in people's pockets. But now that the worst of the recession is over, we have to confront the fact that our government spends more than it takes in. That is not sustainable. Every day families sacrifice to live within their means. They deserve a government that does the same.

So tonight, I am proposing that starting this year, we freeze annual domestic spending for the next five years. Now this would reduce the deficit by more than four hundred billion dollars over the next decade, and will bring discretionary spending to the lowest share of our economy since Dwight Eisenhower was President. This freeze will require painful cuts. Already, we've frozen the salaries of hard working federal employees for the next two years. I've proposed cuts to things I care deeply about, like community action programs.

Secretary of Defense has also agreed to cut tens of billions of dollars in spending that he and his generals believe our military can do without”


President Obama’s State of the Union Address


The Obama administration claims that the combination of stimulus, bailouts, lending and other measures adopted by the government effectively prevented a catastrophic economic meltdown that could’ve rivaled the Great Depression itself.

The Congressional Budget Office (CBO) partially supports the claim. In their Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output From July 2010 Through September 2010 report, the CBO opines that:

• They raised real (inflation-adjusted) gross domestic product (GDP) by between 1.4 percent and
• 4.1 percent,
• Lowered the unemployment rate by between 0.8 percentage points and 2.0 percentage points,
• Increased the number of people employed by between 1.4 million and 3.6 million
• Increased the number of full-time-equivalent jobs by 2.0 million to 5.2 million

The administration claims were supported further by a report co-written by Mark Zandi, the respected non-partisan Chief Economist of Moody, and former Federal Reserve Vice-Chairman, Alan Blinder.

"The U.S. government’s response to the financial crisis and ensuing Great Recession included some of the most aggressive fiscal and monetary policies in history. The response was multifaceted and bipartisan, involving the Federal Reserve, Congress, and two administrations. Yet almost every one of these policy initiatives remain controversial to this day, with critics calling them misguided, ineffective or both. The debate over these policies is crucial because, with the economy still weak, more government support may be needed, as seen recently in both the extension of unemployment benefits and the Fed’s consideration of further easing.
In this paper, we use the Moody’s Analytics model of the U.S. economy—adjusted to accommodate some recent financial-market policies—to simulate the macroeconomic effects of the government’s total policy response. We find that its effects on real GDP, jobs, and inflation are huge, and probably averted what could have been called Great Depression 2.0. For example, we estimate that, without the government’s response, GDP in 2010 would be about 11.5% lower, payroll employment would be less by some 8½ million jobs, and the nation would now be experiencing deflation… While the effectiveness of any individual element certainly can be debated, there is little doubt that in total, the policy response was highly effective,”


July 27, 2010, How the Great Recession Was Brought to an End (Zandi and Blinder).

Critics, however, charge that the report’s findings were flawed as it was based entirely on Zandi’s econometric modeling. Furthermore, the report was not submitted for peer-review with any scholarly journal, casting further doubts on its methodology and conclusions. Some even contend that the piece was merely a piece of political propaganda.


Policy

Liberal. Socialist. Left Wing. Obamanomics.
These are some of the more prevalent expressions used to describe President Obama. However, on matters concerning the economy at least, his actual philosophy might raise a few eyebrows. In his 2006 bestseller, The Audacity of Hope, Obama remarkably revealed streaks of Reaganomics in his economic perspective. In page 92 of the book, Obama confides,

“In his rhetoric, Reagan tended to exaggerate the degree to which the welfare state had grown over the previous twenty-five years. At its peak, the federal budget as a total share of the U.S. economy remained far below the comparable figures in Western Europe, even when you factored in the enormous U.S. defense budget. Still, the conservative revolution that Reagan helped usher in gained traction because Reagan’s central insight—that the liberal welfare state had grown complacent and overly bureaucratic, with Democratic policy makers more obsessed with slicing the economic pie than with growing the pie—contained a good deal of truth. Just as too many corporate managers, shielded from competition, had stopped delivering value, too many government bureaucracies had stopped asking whether their shareholders (the American taxpayer) and their consumers (the users of government services) were getting their money’s worth.”

His understanding and acceptance of the open market is further illustrated in an interview with the New York Times on August 20, 2008, where economist David Leonhardt reveals,

“… he (Obama) didn’t think President Bush deserved all that much blame for the stagnant incomes of the current decade. Income growth for most families began to slow in the 1970s, and the causes of the great pay slowdown were complex. Obama didn’t name them all, but a decent list would look something like this: new technologies that have made some blue-collar work obsolete; a slowing in the nation’s educational attainment; the shriveling of labor unions; the increase in one-parent families, which are far less economically secure; and the rise of other countries that have huge low-wage work forces.

Obama blamed the current administration for {, he said, was} aggravating these trends with the tax code. To a large extent, Obama’s own economic agenda revolves around reversing Bush’s tax policies and then going a bit further in the other direction. Here, more than in his regulatory approach, Obama stands on the left side of the Democratic Party, but not exactly in the traditional tax-and-spend ways.”


To complicate matters further, Obama appointed Austan Goolsbee, Professor of Economics from the University of Chicago, to head his Council of Economic Advisors. The Booth School of Business of the University of Chicago, which is one of the finest economics departments in the world and the force behind the neoclassical Chicago school of economics, is famous for its rejection of the Keynesian macroeconomic theory, which has long been synonymous with the Democratic Party. Obama’s decade-long tenure there as a Constitutional Lecturer would have provided the perfect setting in exposing him to the fundamentals of the neoclassical economic slant of the faculty.

The icing on the cake comes in the form of the Democratic Party economic point-man - Director of the National Economic Council, Senior Fellow at the influential Council of Foreign Relations and the ex- National Economic Adviser of former President Bill Clinton - the progressive, liberal heavyweight, Gene Sperling.

At a glance, Obama looks to have surrounded himself with an array of conflicting economic ideology, and he appears to be the often talked about, but rarely found, progressive-conservative; a believer in the free-market forces, tempered by a liberal social outlook. However, this blend of controlled expansion anchored on a solid center has not been all too evident in his 30 months in office, despite the occasional glimpses. We will revisit this issue once again next year, as the rhetoric dies down and his maturing policy reveals itself more clearly.



Compare Barack Obama and Gary Johnson on the Economy


Romney and Obama Issue Comparisons

   Abortion   Afghanistan   Budget   Business & Labor   Capital Punishment   China   Civil Liberties   Cuba   Economy   Education
   Energy   Environment   Foreign Affairs    Guantanamo   Gun Control   Health Care   Immigration   Iran   Israel    Marijuana   
   Minimum Wage   National Security   North Korea     
   Poverty   Prescription Drugs    Same Sex       
   Social Security   Stem Cells   Taxes          


Romney vs Obama Profile Comparisons

  Age & Birthdate   Ancestry   Career   Childhood   Children   Education    Language   Military   Parents   Religion   Siblings   Spouses 


Presidential Candidates 2016



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