Economists for Romney!

| August 24 2012

It is time to take the advice of more than 500 prominent economists who have endorsed Mitt Romney’s economic plan as the road to growth and job creation.

At the same time, the economists take aim at President Obama’s economic record of big government spending and expansion that they say has produced high unemployment and anemic recovery.

The list of economic Romney supporters is impressive. It includes five Nobel laureates and faculty members from both Harvard University and Columbia University, two of the president’s alma maters. The total number of supporters stands at 526, up from 400 in only a week.

In a statement, the economists said Romney’s economic approach is based on “proven principles” that will return America to its tradition of economic freedom. In contrast, they said Obama’s economic plans double down on failed policies that will prolong slow growth and high unemployment.

The economists praise Romney for proposing to control the growth of federal spending, cut marginal tax rates on business and wage income, restructure regulation, and reform and preserve Social Security and Medicare. They laud his intention to reform health care to harness market forces and empower patients and doctors.

Obama comes in for harsh criticism for “increasing the size and scope of the federal government” that relies on higher taxes and increases the national debt. This policy, the economists say, produced high employment and anemic recovery.

They list the president’s flawed policies that include reliance on short term stimulus that produced little results, failure to propose Social Security reform, support of a Medicare program that proposes a panel of bureaucrats to set healthcare prices and services, and passage of a national healthcare law that centralizes policy.

The economists conclude by citing the “fundamental choice” for voters in November in charting the nation’s economic future. Their statement is a concise comparison of the Romney and Obama approach to managing economic policy. It should be required reading for every voter.

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