Romney rebuts Obama

Mitt Romney: Stimulate the economy, not government

Excerpts:

... any new spending must be strictly limited to projects that are essential. How do we define essential? Well, a good rule is that the projects we fund in a stimulus should be legitimate government priorities that would have been carried out in the future anyway, and are simply being moved up to create those jobs now.

...

if we're going to tax less and spend more to get the economy moving, then we have to make another commitment as well. As soon as this economy recovers, we have to regain control over the federal budget, and above all, over entitlement spending for programs such as Social Security and Medicare. This is more important than most people are willing to admit.

There is a real danger that with trillions of additional borrowing -- from the budget deficit and from the stimulus -- world investors will begin to fear that our dollars won't be worth much in the future. It is essential that we demonstrate our commitment to maintaining the value of the dollar. That means showing the world that we will put a stop to runaway spending and borrowing.

... we must begin to recover from the enormous losses in the capital investment pool. And the surest, most obvious way to get that done is to send a clear signal that there will be no tax increases on investment and capital gains. The 2001 and 2003 tax cuts should be extended permanently, or at least temporarily.

And finally, let's exercise restraint in the size of the stimulus package. Last year, with the economy already faltering, I proposed a stimulus of $233 billion. The Washington Post said: "Romney's plan is way too big." So what critique will the media have for the size of the Obama package?

In the final analysis, we know that only the private sector -- entrepreneurs and businesses large and small -- can create the millions of jobs our country needs. The invisible hand of the market always moves faster and better than the heavy hand of government.

Comment: He defines essential stimulus! Nice rebuttal to Obama's editorial yesterday. He also asks a good question: "what critique will the media have for the size of the Obama package?". Mitt should be the GOP front runner for 2012!