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Wednesday, October 3, 2012

03 October 2012 Presidential Debate

Romney and Obama














 

This is mostly a summary of the debate, with a few comments interspersed in blue, and my short assessment at the end.


The Economy, Segment 1.
Jobs
First of all, I don't like the question. It assumes that it is the president's role to make jobs! I disagree with that in general. However, let's go forward.
Obama's Response
Burned Romney on cutting taxes skewed towards the rich. I liked Obama's ideas on saving money by winding down wars, investing in education (short term spend, long term gain), etc.
Romney
Emotional stories.
5 Basic parts:
  • Energy Independence (humorous related video: http://www.thedailyshow.com/watch/wed-june-16-2010/an-energy-independent-future)
  • Opening trade, Crack down on china when necessary
  • Education
  • Balanced Budget (I need details on this! How?)
  • Champion small business (And how will you do this?)
Obama's Response
Discussing making investment in alternative energy sources. Says Romney is advocating: 6 trillion in tax cuts, plus 2 trillion increase in military spending.
Romney
Says he doesn't advocate a 6 trillion dollar tax, says he is not going to give more tax breaks to the rich, and says the middle class is being crushed by the president's policies. Also talking about the increase in costs of everything under Obama. Says that all the increase in energy production has been on private land and due to private enterprise. More on energy independence, oil and gas, pipeline from Canada.

What does "No tax cut that adds to the deficit" mean? (Ah, he must mean by offsetting them with closing loopholes and deductions)
Obama
Again says 5 trillion + 2 trillion in tax cuts. Romney is going to balance this by closing loopholes and deductions. Obama bashed him saying the total of all those loopholes and deductions is nowhere near that much, and this is backed by independent studies.

Romney
Again states that his tax plan will not add 5 trillion, and not reduce the taxes paid by high income families, and will reduce the taxes paid by middle class. Brings up another study that just came out that says Obama will raise taxes by a few grand per family. Romney wants to specifically lower taxes on small businesses.

Obama
Not possible to do what Romney is saying! You can't lower all those taxes without reducing the deficit. The only way we can reduce the deficit, encourage job growth in small business, and make the education / energy investments we need is to increase the taxes on those with over $250k income. Lol call's out Donald Trump! Again stating that there is no way to pay for Romney's plan without massively cutting vital investments.
Romney
Says that independent studies show that Obama's plan will eliminate hundreds of thousands of jobs when he increases taxes on these small businesses.
Obama
Said the same thing for the third time that Romney is denying: The math doesn't work out on Romney's plan. Says Romney's approach is the same in 2001: slowest job growth in 50 years, worst economic crises since the great depression. MY approach is the one Bill Clinton took, made tons of jobs, etc.
Romney
Says the same thing again. These guys are getting boring. Says that the last four years are evidence that the president's policies don't work. I disagree. I can't believe one could argue that the economy is worse off today than it was 4 years ago.


Second Segment
Romney
Says he won't support any programs that require borrowing money from China. Blatant disregard for general economic theory.
Obama
The deficit was caused by spending on wars and tax cuts that we could not pay for! I then cut out 77 government programs. Talking up his aggressive attack on medical fraud. Etc. Etc. Still have to do more! I have a 4 million dollar deficit repair plan to be paid for by increasing taxes on the rich. Calls out Romney who said he would not take $10 dollars of spending cuts for even $1 dollar of increasing taxes (not aware of this statement, but that's pretty ridiculous)
Romney
Obama has all these plans, but how come he hasn't done them? Romney says that when the economy is going slowly, you shouldn't raise taxes on anyone! Obama's plan isn't only to raise taxes on Donald Trump, but to raise them on the small business owners.

Romney takes a great opportunity to flat out say "Yes you are right! I will not increase any taxes to get revenue!" The increase in revenue will come from more jobs, more people working, and therefore more people paying taxes! I think this made him look really good, Obama's response was not too strong.

Obama
Again calling out Romney for not identifying the general "closing loopholes and deductions". Obama has a very clear plan, like cutting deductions for companies that move plants overseas. Also brags about his education support, making sure that kids can afford college (I disagree with a lot of this policy. I can expound on this later). Bashes Romney for proposing 30% cut to Medicaid. No way Romney could make up for this! People will die!

Romney
Obama put 50 years worth of tax breaks into green energy companies that were losers! Also pushes back on Obama saying that no one gets a break for shipping jobs overseas. Romney says he pays for the 30% of Medicaid by increases in efficiencies gained by having the states manage their own plans

I love his comment on the awesome part of the USA: Allowing the states to be "laboratories" for policies. 

Segment 3 Entitlements
Obama
Social Security: Romney and I might not be too different on this, it needs some tweaking but the general structure is sound. Social Security and Medicare were the things that allowed his grandmother to live independently until she died. It provides a floor below which she cannot fall. This system is important, and how can we strengthen it? We need to bring down costs. I did that by saving $XXX by ensuring we weren't overpaying providers, and lowered prescription drug costs for seniors by an average of $600. The key is lowering healthcare costs.
Romney
On Medicare, Obama is lowering the rates of what hospitals are being paid by Medicare. Doctors and Hospitals will stop taking patients! How can we cut 0.716 trillion without saying people won't lose treatment? As for young people, I will make sure social security and medicare will be there when you need it (doesn't explain how).
Obama
Romney's plan is a voucher plan: We will give a voucher to seniors, they can go out on the market place and purchase their own health insurance. But it is estimated that it would cost that $6k a year. Now Romney is saying he will maintain traditional medicare along side! However, insurance agencies aren't dumb, only the sickest and most expensive people will remain on traditional medicare, crashing the system. If you repeal Obamacare, RIGHT AWAY those seniors will be paying $600 more for prescriptions, and the primary beneficiary would be the insurance companies without making seniors any healthier!

Romney
Dodges the question on the voucher system. Again says he will not change anything for current retirees. For younger people, they get the choice: Medicare system, or voucher system. Denies the increase in $6k. Brings up the personal liberty concept of choice in medical insurance selection. Get's competition into the medical field! 
Obama
Says that every study has shown that Medicare has lower administrative costs, plus private companies have to make a profit! Where would this double whammy money come from? (From the lower costs due to competition?) AARP is supportive of MY approach.

Dammnnn Romney is ignoring the moderator. 

On Federal Regulation of the Economy
Romney
Regulation is essential . Free Economies only work with regulation. Moderator asks for details of areas with excessive regulation. Romney says Dodd-Frank basically allows some banks to be too large to fail! The transparency and leverage limits are important. 
Obama
Toughest reforms on wall street in decades to make sure the same recession doesn't happen again. PLUS, all of that aid we gave was paid back to the government with interest! Does anyone really think that there was too much oversight and regulation on wallstreet? That is just not what I believe!
Romney
But you gave 5 banks a blank check and are now too big to fail! Dodd Frank is good that it requires qualified mortgages, but never even defines what a "qualified mortage" is! It's been two years! Not banks are reluctant to give mortgages. 

Back to Healthcare
Romney
Repeal the Affordable Care act. Experience with meeting couples who can't afford their insurance, small businesses dropping insurance because they can't afford it, etc. Cost is just prohibitive. Studies show that Obamacare will cost $2.5k per year, but Obama said he would cut it by that amount! He is going in the wrong direction, and cutting medicare to pay for Obamacare. Survey said that 3/4 of business are now less likely to hire people because of Obamacare! Bragging about crafting a plan at the state level!
Obama
I also had those discussions with families who were worried that they wouldn't be able to get care because of preexisting conditions, etc. Obamacare lets people keep their own doctor, but requires companies to eliminate lifetime limits, requires them to allow children on plans until 26, and requires people to reduce administrative costs. Pulls the best punch ever: ROMNEY BASICALLY SET UP OBAMACARE IN MASSACHUSETTS, AND IT WORKED!
Romney
Proud of his plan in Massachusetts, which was bipartisan, yet Obama pushed it through on partisan lines. Differences from Obamacare: Didn't raise taxes, didn't reduce medicare, etc. Didn't put people in a position to lose the insurance that they want (study shows that 20 million people will lose it! and 30% are considering dropping coverage). Sounds good by stating that legislation like this must be done on a bipartisan basis, and that a president has to be willing to reach across the aisle.
Obama
All this "unelected board" is, is a group of people trying to find efficiencies and reduce costs in the system, and figure out how to make the cost of care more effective. Let's pay providers based on performance, not number of procedures. Identify best practices, and institutionalize them. Healthcare premiums have continued to go up under Obamacare, but they have been going up slower than ever in the last 50 years! Also, Romney has never proposed an alternative! Sure, he will leave it up to the states, but to do what?!
Romney
Pre existing conditions are covered under my plan, and kids can be covered, but let the private market handle this (then how come so many of my friends are so happy that they are still under their parents plans after Obamacare? It didnt seem like the private market was doing to well beforehand) The government doesn't do anything efficiently! This board shouldn't be telling people what procedures can and can't be done, and mandate to providers what kind of treatment they can have! The private market and individual responsibility always work best.
Obama
This board canNOT make decisions about what treatment can and cannot have, and secondly, Romney's plan does NOT protect people with pre-existing conditions. His plan in MASS worked great! But that one required insurers to take everybody! Why can't he detail how he would do it now? Reminds me of saying that he will close deductions and loopholes, replace Dodd-Frank, Obamacare, but doesn't give any details about HOW! Why are they secret?
Romney
Again just says he would work bipartisanly. Says stuff he already said before. HAHA Romney again says he does have a plan for preexisting conditions, but again doesn't say what it is!

Next Segment: The Role of Government: Is there a difference in the views of the two candidates?
Obama

The first function is to keep the people safe. In addition, the Federal government has the capacity to open opportunity and create frameworks where the American people can succeed. The genius of America is that we have freedom. However, There are also some things that we do better together. Trans cont. railroad. National academy of sciences. Land grant institutions. These thing enhance people's freedom, not restrict them. My educational policies gives more money to states that initiate reforms. Also, we need to hire more teachers! Romney doesn't think we need more teachers.
Romney
The role of the government is to protect life and liberty. That means a military second to none. Maintain its strength. Maintain commitment to religious tolerance and freedom.

OMG just talked about the importance of religious freedom, then said we all believe we are one nation under one god.

The primary responsibility for education is at the state and local level. The federal government can help. The kids getting federal dollars should be able to go to a voucher program that lets the student and or parent decide where they go.

Obama
Main difference is in how we pay for our education. If Romney and Ryan's budget is to keep tax cuts on the rich, it will cut the education budget by 20%. Training programs for kids in community college with guarantee of a job when they get out, requires federal support. (I haven't heard of this, and I don't like it) He then goes on to talk about keep interest rates low on student lows. Romney wants kids to borrow money from their parents! What about all those kids that don't have that opportunity.
Romney
Says he won't cut education. Switches to Obama's $90 billion into green energy is a waste (chump change compared to what Romney would do with the military) Makes a good point though, that the government should not be trying to pick winners and losers, it should be trying to make the private sector more efficient. 

Final segment: Congress is in paralysis. How would you fix it?
Romney
I have that experience! My legislature was 87% democrat. I will sit down with the leaders and talk about the issues and the challenges, and work on a collaborative basis (sounds like all talk and no details to me).
Obama 
Also says he will take ideas from anyone. As long as they support the middle class, etc.States lots of accomplishments he made with the Republican congress. Romney needs to describe exactly what he will do! Not just "I will sit down and have a chat". Romney also can't say no to extremists in his own party!

Closing Comments
Obama
Emotional appeals, blah blah blah, faith in the American people. No content whatsoever.
Romney
Concerned about the direction we have been taking over the past 4 years. Ripping on the past 4 years, I will create 12 million jobs. If we don't repeal Obamacare, costs will go up, and allow each state to put in place their own program. Losing medicare, hospitals no longer accepting patients, etc. Obama will cut military spending (GOOD!) Better than Obama's closing statement.

My Opinion
I do think Romney won the debate. I think he was quicker on his toes, and sounded better. But then again, I would still vote for Obama over Romney (Not over Gary Johnson though). I don't think Romney's economic plans math work out at all, even though he makes them sound good. You can't cut taxes on the rich, cut taxes on the middle class, increase spending on military, education, etc, and balance the budget.

1 comment:

  1. They both have these strange smirks while the other is speaking.

    ReplyDelete