Mon. Jun 1st, 2020

The 1st Romney – Obama Presidential Debate

Overall:  This debate focused on domestic issues. I liked the format, and I think the moderator did a good job of keeping the debate moving and keeping the candidates on topic.

On the various issues brought up in the debate:

Budget Deficit:  Mitt Romney said that it was immoral to add one trillion dollars per year in debt.  In order to cut the deficit, he said he wants to increase economic growth and cut spends.  Said he would end Obamacare.  He attacked Obama for failure to keep him promise of cutting the deficit in half.  Barrack Obama went back to his blame Bush tactics.  Mitt Romney attacked Obama for failing to take advantage of Simpson Bowles.  He made a good case for tax increases harming economic growth.  Barrack Obama claimed balancing the budget needed to be a balanced approach,  basically meaning he wants to raise taxes to balance.  When Mitt Romney hit Barrack Obama hard on his poor economic record,  Barrack Obama defaulted to old favorite,  attacking oil companies.  Mitt Romney had a very good command of the facts surrounding the claim that the oil industry got tax breaks.  It is really an accounting deduction that goes to small companies.  Obama said companies get a break for shipping jobs overseas,  Mitt said he never saw any deduction for moving factories overseas. Mitt also said that Obama gave $90 billion to the “green industry”,  almost 50 times the oil industry.

Dodd-Frank:  Mitt Romney favors repeal and replace.   Nothing in Dodd-Frank addresses the problems that caused the financial crisis.  While there might be a few good things in Dodd-Frank such as updates to the Securities Act of 1933 and the Exchange Act of 1934;  but so much of Dodd-Frank is overkill that is killing the industry finances new companies which create new jobs.

Economy: A lot of the early debate focused on improving the economy.

Entitlements:  Could not figure out what Barrack Obama was talking about other than his Grandmother. Mitt Romney brought up that Obamacare is cutting spending by over $716 billion for current recipients.  Good discussion on Romney’s voucher plan for an alternative to Medicare.  Barrack Obama’s claim that Medicare has lower administrative cost than private insurance.  That is false,  take a look at this Forbe’s article:  http://www.forbes.com/sites/aroy/2011/06/30/the-myth-of-medicares-low-administrative-costs/

Healthcare:  Mitt Romney came up several very good points on why he would repeal Obamacare. He said that Barrack Obama made a mistake by focusing on Obamacare and not jobs.  He cited a McKinnsey study that said 30% of American businesses would drop private insurance due to Obamacare.  Here is your link to the McKinnsey study:  http://www.mckinseyquarterly.com/How_US_health_care_reform_will_affect_employee_benefits_2813

Job Creation:  Obama talked about economic patriaism what ever that is.  Sounded a lot like redistribution.

Role of Government:  Barrack Obama said the government should create ladders of opportunity.  Then he rambled on about of unclear comments about Lincoln, teachers, land grant colleges and the transcontinental railroad.  We could not really figure out what Obama was really talking about.  He just seemed to ramble.  Mitt Romney said the role of government is to promote and protect the principals of the Declaration of Independence and the Constitution.  That the government should not substitute itself for the rights of free individuals.  He made another reference to “Trickle Down Government” basically Barrack Obama’s version of the top down role.  “Trickle Down Government” reminds me of the failed Command and Control economic models of the former Communist countries.

Taxes:  Obama tried to paint Romney as raising taxes on the poor and cutting taxes for the rich.  Romney spent a lot of time explaining that what he really plans on doing;  lowering tax rates and eliminating deductions in order to be revenue neutral.

On the candidates I have the following:

Mitt Romney:  Started out the debate with a strong command of the facts.  I thought that Mitt Romney put on a very strong performance and did a far superior performance than that of Barrack Obama.  Mitt Romney consistently demonstrated a very strong command of the facts.  He sent a very clear message on how he would help Americans.

Barrack Obama:  Claimed he cut taxes for the middle class,  but nobody in our room could figure out what he was talking about.  Let’s not forget Obamacare is a tax, and a big one at that.  More use of “strawmen”  phantom claims attributed to unnamed individuals.  He claimed that he lowered taxes for small businesses 18 times.  In very bad form he claimed that Mitt Romney defines Donald Trump as a small business.  That is grossly incorrect!  The Small Business Administration (SBA) is what defines a business as being a small business. It varies per industry, and is based upon the number of people employed by the company.  I very much did not like his negative jabs.

Previous Debates:

Our comments on the CNN Arizona Republican Presidential Debate

Our comments on the CNN South Carolina Republican Presidential Debate

Our comments on the Fox News South Carolina Republican Presidential Debate

Our comments on the Republican Presidential Candidate National Security debate

Our comments on the CNBC – Republican Presidential Debate

Our comments on the CNN/Las Vegas – Republican Presidential Debate

Our comments on the Bloomberg News – Republican Presidential Debate

Our comments on the Fox News – Republican Presidential Debate

Our comments on the Republican CNN/Tea Party Debate

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