On 10/3, with the presidential race is very much a tight race—no matter how many polls trying to tell you Obama already won it—the first presidential debate between challenger Romney and incumbent Obama took place in front of more than 67 million Americans.
The challenger exposed the incumbent on his first term record.
More than 67 million viewers watched the incumbent speaking without a teleprompter and they saw one who was lost and without any real content to speak of –except old campaign rhetoric.
The challenger presented his plans straight and clear while the incumbent kept distorting them by some fuzzy “arithmetic”. During the course of the debate, slowly but surely, it was exposed that the incumbent had no real new plans for an economic recovery that America desperately needs.
The incumbent exposed himself when he kept sticking to the lies that he’s been telling –and hoping if the voters hear them often enough, they will start believing.
Attack & Distortion
He started the debate with distorting Romney’s position on taxes…
“Governor Romney has a perspective that says if we cut taxes, skewed towards the wealthy, and roll back regulations that we’ll be better off.”
Romney wants to cut 20% in all tax rates – across all tax brackets. But he will also drop or limit some loop holes as well.
“Are we going to double down on the top-down economic policies that helped to get us into this mess, or do we embrace a new economic patriotism that says, America does best when the middle class does best?“
Yes, the middle class is important in an America recovery. Those who were in middle class before they lost their jobs need jobs to work their way back to the middle class. The number of people who have to depend on food stamps increases from 32 to 47 million under you watch –many of them would like jobs to work their way back to the middle class.
Biden was right: “…the middle class has been crushed the last four years…” From The Wall Street Journal, between Jan 2009 to June 2012, average income for middle class households decreased by $4,019 –after adjustment for inflation. A 7.3% decrease is the crushing result of a stagnant economy and high unemployment rate under Obama.
Romney started with the cries for help from the people he and his wife met at many campaign stops—“can you help us?”
And he laid out his plans as if he is presenting a business Power Point deck:
—Romney has an “energy independent” plan that will “create 4 million jobs” with lower energy prices.
— Romney wants to “open up more trade”and to “crack down on China if and when they cheat”
— Romney wants to “make sure our people have the skills they need to succeed and the best schools in the world”
—Romney wants to “get us to a balanced budget”
—Romney wants to “champion small business”as he put it “…small business that creates the jobs in America”
Isn’t it time to get results in Washington DC?
“We cut taxes for middle-class families by about $3,600”—he probably included in the 2% payroll tax cut and the extension of Bush tax cut that he signed in 2010. What Obama did not mention is the elimination of tax deductions for over-the-counter medicines and the reduction in the amount that parents can claim for dependent care—all of which hurt middle-class families. Even his so-called “tax cuts”, the average income for middle-class households went down by $4,019 in his four years.
He wants to raise tax for “incomes over $250,000 a year that we should go back to the rates that we had when Bill Clinton was president…” He argues that under his plan, 97% of small business owners would not see their taxes increased.
“I’m not going to raise taxes on anyone because when the economy’s growing slow like this, when we’re in recession you shouldn’t raise taxes on anyone”
“National Federation of Independent Businesses said your plan will kill 700,000 jobs”—referring to Obama’s tax plan to raise taxes on incomes over $250,000
“…the revenue I get is by more people working, getting higher pay, paying more taxes. That’s how we get growth and how we balance the budget…”—the more people working, the more people pay taxes (simple mathematical logics, Mr. President)
“You never balance the budget by raising taxes”—you raise taxes–>investment is discouraged–>slow job growths and less people working–>less people paying tax–>less tax revenue for government–>more deficits (still simple mathematical logics, Mr. President)
“I’ve identified areas where we can, right away, make a change that I believe would actually help the economy. The — the oil industry gets $4 billion a year in corporate welfare”—is $4 billion an accurate figure, Mr. President?
“And part of the way to do it is to not give tax breaks to companies that are shipping jobs overseas”—he really wants to introduce new tax loop holes for companies of his liking. If we Americans really want to get the jobs back, start buying “Made in USA” products.
“First of all, the Department of Energy has said the tax break for oil companies is $2.8 billion a year”—referring to Obama’s distortion of true figures
“…and in one year, you provided $90 billion in breaks to the green energy world. Now, I like green energy as well, but that’s about 50 years’ worth of what oil and gas receives, and you say Exxon and Mobil — actually, this $2.8 billion goes largely to small companies, to drilling operators and so forth.”—using simple arithmetic, Romney pointed out that Obama’s added new tax loop holes during his first term worth 50 years of what oil companies would receive.
“…if you — you’re 54 or 55, you might want to listen, because this… would cost the average senior about $6,000 a year…”—referring to Romney’s Medicare plan
“…every study has shown that Medicare has lower administrative cost than private insurance does… when you move to a voucher system, you are putting seniors at the mercy of those insurance companies…”
“…no change for current retirees and near-retirees to Medicare and the president supports taking $716 billion out of that program”
“…for people coming along that are young. What I’d do to make sure that we can keep Medicare in place for them is to allow them either to choose the current Medicare program or a private plan — their choice…So they don’t have to pay additional money, no additional $6,000”—the main idea is if the government’s Medicare is efficient and competitive, that will drive the premiums from the private insurance companies. Competition will drive down costs.
“…private sector typically is able to provide a better product at a lower cost…”
“…If I’m elected, we won’t have Obamacare…We’ll put in place the kind of principles that I put in place in my own state and allow each state to craft their own programs…”
Can you help us?
Many of us Americans have been asking: “Can you help us?” for the last four years.
Can you help us getting a job? The incumbent has tried and failed. Many of the millions of jobs he claimed his administration has created are the jobs that were cut due to over-panic during the start of the recession. In a normal business cycle, business will add those jobs back quickly at the start of a recovery (and more) if the recovery is strong. The challenger has a new sound plan to promote jobs growth that is needed to avoid another recession.
Can you help this country getting out of this gigantic national debt? The incumbent has put on over a trillion a year in his first term. He says he has a plan to reduce $4 trillion in deficit the next 10 years—this is a cut of an annual average of $400 billion of over $1 trillion in deficit that he’s added. That is fuzzy “arithmetic” at its best. He is not cutting. He just reduces his over-spending. The challenger has a plan to reduce deficits by expanding job base and cutting any unnecessary government programs—including subsidy to PBS and Big Bird.
Can you help this country going in the right direction again? One has started this wrong path and has no intention to revert it. The challenger has real and better plans. He presented them clearly to the people. His plans used business logics and math that will work. And he is seeking your votes to become the 45th president of this country.
Before you decide your vote, keep in mind these factors:
Obama: “…And everybody’s getting a fair shot and everybody’s getting a fair share. Everybody’s doing a fair share and everybody’s playing by the same rules.”—does this sound like the America that you would want? Who will determine this “fair share” that you and I should get? Who will determine the “fair share” that you and I should be doing?
Romney: “I will keep America strong and get America’s middle class working again.”