The Winning Answer (Romney's response to the deficit and debt was what turned the tide)

Weekly Standard ^ | 10/07/2012 | WILLIAM KRISTOL

[SeekAndFind]

Almost 25 minutes into last Wednesday night’s presidential debate, it was already clear Mitt Romney was doing better than expected, and that Barack Obama was a bit flat. But it wasn’t yet obvious at the end of the debate’s first segment that the debate would produce a decisive winner.

Then moderator Jim Lehrer moved from taxes to a discussion of “what to do about the federal deficit, the federal debt.” Mitt Romney spoke first. His two-minute answer was the inflection point in the debate. After that, he was on a roll—a conservative roll. And President Obama would be reduced to an ineffectual defensive crouch—a liberal crouch.

Romney’s statement deserves to be reproduced in full:

***

Romney: Good. I’m glad you raised that, and it’s a—it’s a critical issue. I think it’s not just an economic issue, I think it’s a moral issue. I think it’s, frankly, not moral for my generation to keep spending massively more than we take in, knowing those burdens are going to be passed on to the next generation, and they’re going to be paying the interest and the principal all their lives.

And the amount of debt we’re adding, at a trillion a year, is simply not moral.

So how do we deal with it? Well, mathematically, there are three ways that you can cut a deficit. One, of course, is to raise taxes. Number two is to cut spending. And number three is to grow the economy, because if more people work in a growing economy, they’re paying taxes, and you can get the job done that way.

[chiller]

Of course, unfunded liabilities like SS, Medicare/Medicaid are the biggie. Boomers now 55+ will eventually pass through the system. Means testing will become a necessity and though unfair will be accepted by the likes of myself and others.

Multifaceted solutions come into play, but I'm feeling very fortunate we have a problem solver like Mitt at this time in the country's history. It's becoming starkly clear; Obie is not the One. He is the last thing we need. The very last.

[Hardraade]

Exactly. The US has routinely done the impossible, when the leftists get out of the way.

They’re fairly determined they have managed taking her down now, though - and they *will* continue trying, with foreign help.

[Mr. Silverback]

Two problems with your premise.

1. Kristol is not reassured by this because of the actual policy, he’s reassured because he was on the “Romney’s blowing it badly” bandwagon and he wanted to hear a conservative case other than “The other guy sucks.”

2. If Romney’s only plan was to cut some programs, he wouldn’t have picked Ryan.

[Mr. Silverback]

For crying out loud! Algore promiced to make govmt more efficient.

Let's say two people promised to throw a football through a tire swing for you. And let's say one of those people was Aaron Rodgers and the other was Snooki.

Romney has made a life making large organizations more efficient. H may fail with the federal beast, but it's pretty clear he ain't kidding.

[Randy Larsen]

Daddy Bush was far from being a Conservative!

[LS]

Yep. But there are always "unfunded liabilities"---often, we just don't know about them. Like, the Louisiana Purchase added millions to our "assets" but in the short term added millions more to the "unfunded liabilities" of forts that had to be built, roads that had to be built, and so on. Not exactly the same as the welfare state, but nevertheless, one of the things no one is talking about is that we are NOT assessing our national assets correctly.

For ex, gubment is the largest land holder in the U.S. That land is valued at pretty much what the gubment paid for it, or worth nothing at all because gubment just took it. What's it's REAL value? Hundreds of billions of dollars on the open market. Well, our early gubment paid its debts down by . . . selling lots of land!

Likewise---and only to make the point---the gold at Ft. Knox and in Fed Reserve vaults is valued at whatever the gubment paid for it, not what it could be sold for on the open market. A fair assessment of American asset wealth in a freer market would radically upset the ratios of debt to GDP. Not saying we don't have to get medieval on the debt and on all unfunded obligations, but I am saying we need to also have a firmer grasp of the REAL assets of the U.S. and begin using them.

[editor-surveyor]

Kristol is a weathervane.

[editor-surveyor]

Madam Mensa.

[FlipWilson]

Quote: “Reasonable people adapt their perceptions to accommodate new information, or to respond to change in the environment.”

And more reasonable people wait to see how things unfold before declaring “all is lost” and abandoning those who they supported and foisted upon the rest of us as being “the most electable” candidate.