As Romney courted the Michigan vote, he proposed a $20 billion energy research/auto industry bailout plan likely to appeal to the Motor City state. Later, touting himself as the turnaround guy for a flailing economy, Romney released his own $233 billion stimulus package -- a price tag that dwarfs President Bush's $145 billion proposal.That $233B has to come from somewhere. I wondered if Ms. Saunders' article was just cherry picking things from Romney to make him look bad. So I went to his site and found this.
Today, our economy is facing unprecedented challenges both here at home and abroad. Our economy needs pro-growth stimulus, but Governor Romney believes any stimulus package should return money to American taxpayers, not increase already out-of-control government spending. To promote economic growth, Governor Romney is proposing an economic stimulus plan that would lower taxes on individuals, reduce taxes for businesses and help homeowners through the current housing crisis.I tried to imagine one of Mr. Moneybags Romney's famous PowerPoint slides showing how showering dollar bills on certain private citizens was different from showering them on, well, other private citizens.
It hurt my brain. Let's see if we can simplify this whole idea.
Profit = Income - Expenses.Mitt is saying that this:
Profit = (Income - $233B) - Expensesis not the same as this:
Profit = Income - (Expenses + $233B)I still couldn't understand how that worked out. I decided that my failed effort, years ago, to understand algebraic topology was coming back to haunt me. Then I finally hit upon the true calculation of his plan.
Update: Mitt Romney as a George McGovern clone? Extreme Mortman posts a great comparison between George Bush's stimulus plan and George McGovern's plan from 1972. If Bush's paltry $140B matches up well, then Mitt's $233B is a perfect fit.
Update 2: Welcome RCP readers! Here's some background. All of this "stimulus package" talk just blows me away. The US debt is so big now that each one of us, every man, woman and child, currently owes $30,000. What kind of dimwit thinks that a family of four, already down $120,000, needs to borrow still more money as some kind of stimulus? When people talk about Romney being a conservative and the other Republican candidates else being RINOs, I ask, what's wrong with being a RINO?
5 comments:
I'm reminded of those great IBM business ads. Specifically the one with the round table and CEO Arthur asking how to solve their problem. The Knight consultant suggests flinging heavy objects (bags of money) at it.
Kelly, I found the ad and posted it here.
I am forever in your debt.
Such skepticism and negativism! Romney, the businessman, would act like the farmer--that is, he'd sew money (seed capital) in places where it would grow. Or to use another analogy, he'd use investment capital (you remember the capitalistic system from school, right?) to get the auto industry building the best cars in the world again (and watch them move like hot cakes), or construct the best economy because as a businessman who understands risk and reward better than you or I or 100 others reading this put together, he'd use the right approach. If you question his sincerity, he's not taking a salary. If you question his motives, he isn't an insider. If you question his ability, just do some research (or read the next blog, which I borrowed from a friend)!
The reason the brilliant Mr. Bain (of Bain and Associates) approached Mitt was that Mitt was frustrated with “only” consulting businesses and government organizations etc. He wanted to see the correct principles he'd advised actually carried out and implemented. He wanted to get into implementation himself and at the time was looking at running major corporations. A working knowledge of the Bain method was greatly coveted. And Mitt was talented therein. That knowledge wasn't deal making or selling. It was expertice in running a businessespecially businesses with big problems. Turnarounds became Mitts art. He presided over nearly two hundred with a lot of investment dollars of his own and others on the line. So how good was he? Usually, a great CEO handles one or two different firms very well in his career with growth at 10% -25+%. The nearly 200 firms with troubles requiring major problem solving furnishes a man with unbelievable experience and wisdom building. Not to mention the stressful risk factors. Over the 14 years Mitt ran Bain Capital the average per year return over 14 years was 113%!! That?s RIGHT 113% per year!! Not just a great 13%, 113%!!!!!! He started with around $30 Million in seed money for Bain Capital and when he left Bain was Managing over $40 Billion dollars. Jim Cramer in an interview on Hardball with Chris Matthews(from the Jim Cramer's Mad Money Show #1 in its time slot) said that one should consider Mitt Romney the best businessman in North America!. During a bad time at Bill Bain's original Bain and associates, things got desperate. The brilliant Mr. Bain and his associates asked Mitt to return and be their CEO and turn the consulting operation around. The student grows beyond the great teacher. Mitt did the job in about 9 months and left. SLC Olympics wasin worse shape and went for the best man they could find after nearly canceling their Olympics altogether. So, Mitt isn't just a polished communicator, persuasion talent and dealmaker so some people can call him slick , he's the real deal. Someone like this does not come around but every few decades. Get to know him he is so much more than what the MSM lets on.
Wow was that a long pair of comments! Thanks for the Romney talking points.
I know a lot about the government and government budgeting and government spending. If you think there's a great ROI on this kind of stimulus package which is by his very definition a complete financial shotgun spray of debt into the general populace, think again.
Go find someone a little less gullible to post comments like that.
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