Tim Pawlenty's Economic Plan

[marshabar1]

Former Minnesota governor Tim Pawlenty turned out a blockbuster economic-growth plan this past week, including deep cuts in taxes, spending, and regulations. It’s really the first Reaganesque supply-side growth plan from any of the GOP presidential contenders. And he caps it all off with a defense of optimism as he charges ahead with a national economic growth goal of 5 percent.

That’s right: 5 percent.

Pawlenty calls this target aspirational. Okay, fine. But deeper down, he’s basically saying no to the declinists and pessimists who seem to populate the economic landscape these days. Big government doesn’t work. Let’s try something different.

Ronald Reagan always believed that America is exceptional. By removing obstacles to growth, the Gipper held that economic policies could unleash a massive outpouring of risk-taking, creativity, and entrepreneurship. He was right, and his policies launched a two-decade-long boom.

Actually, the first couple years of the Reagan recovery came in at over 7 percent. And as Pawlenty noted in his speech at the University of Chicago this week, between 1983 and 1987, the Reagan recovery grew at 4.9 percent annually. I note that Pres. John F. Kennedy also had a 5 percent growth target, a response to Ike’s three recessions.

So while those on the left criticize Pawlenty, and while even some conservatives scoff at his growth target, history says we’ve been there before.

The Wall Street Journal editorial page calls it a “growth marker.” Famed CEO Jack Welch calls it a vision for America. I think it’s an act of great leadership.

Read more at: www.cnbc.com/id/43360421

[marshabar1]

Is he serious? Of course he is. And he’s pretty darned specific. Remember, this is a guy who said no to ethanol subsidies in Iowa, yes to extending the Social Security retirement age in Florida, and no to crony capitalism for Wall Street banks in New York.

In other words, Tim Pawlenty is a tough hombre.

If he stays on message unrelentingly, his growth plan could carry him right to the White House.

same source

[txbo]

It's been done before: Between 1983 and 1987, the Reagan recovery grew at 4.9 percent annually. Between 1996 and 1999, under President Bill Clinton and a Republican Congress, the economy grew at around 4.7 percent annually.Read that sentence carefully: Pawlenty says he wants "5 percent growth." Later in his piece, he specifies "five percent economic growth over 10 years." And his evidence that "it's been done before"? Two periods in which growth was under five percent and held there for less than five years. So even in his handpicked examples, Pawlenty can't come anywhere close to his target. It’s a feel good pie in the sky projection. If he said 3% I would agree with him.

[marshabar1]

The goal is aspirational. I wouldn't doubt the growth at a rate higher than 5%. Why? Pent up desire and stockpiled dough.

[marshabar1]

If next year the American people pull the plug on the Obama presidency, mark down the past week as the beginning of the end . . . and what looks like the real beginning of Tim Pawlenty's candidacy.

Incumbency isn't merely a function of political inevitability but of the fact that a presidency commands potent tools of self-restoration. Barack Obama's decision to kill Osama bin Laden was one such weapon. But we now see that this welcome May Surprise was insufficient to thwart the one force bigger than the American presidency—the U.S. economy. As of this week, it's looking like a long mudslide through the economy to November 2012.




Barack Obama's worst week was about more than bad data. The two great legislative monuments to the first Obama term, the remaking of the health-care industry and the Dodd-Frank financial reform, look like they've got serious structural cracks. A McKinsey report estimates that a third of employers will abandon their health-insurance plans come 2014. On Tuesday, The Wall Street Journal reported that the failure (or inability) of Dodd-Frank's regulatory arm to write new rules for the $583 trillion derivatives market has the financial sector in a panic over its legal exposure.

The worst was yet to come: Mr. Goolsbee announced he was departing the White House for the irresistible pull of academic tenure. What this signifies is that Mr. Goolsbee, a reputable economist, knows that in terms of economic policy, the Obama armory is empty.

No wonder Tim Pawlenty is smiling. Amid a news cycle whose message is "nothing's working," Mr. Pawlenty delivered a major speech on economic policy whose title could have been: All the Things Barack Obama Has Not Tried to Do to Lift the Economy and Never Will.

The 2012 election is going to be fought over how we get economic growth.

Whether Gov. Pawlenty's prescriptions—dramatically lower individual and corporate taxes, zero taxes on capital gains and dividends, sunset provisions for federal regulations and a growth-rate target of 5%—are provable as solutions is politically beside the point at this moment. As substantive brand differentiation, the Pawlenty speech was a success.


The battle will be fought over economic growth and how we get it—Obama's way or something close to the opposite of Obama's way. On one hand is Barack Obama's government-led "investment" mix, embedded with spending raised to 24% of GDP. On the other is the alternative GOP vision, which is starting to gel.

online.wsj.com/article/SB1000142 … 35004.html

[marshabar1]

It’s clear whom President Barack Obama fears most in his campaign for re-election. That would be former Massachusetts Gov. Mitt Romney, the GOP front-runner; former Minnesota Gov. Tim Pawlenty; and former Utah Gov. Jon Huntsman.

Those are the only three potential Republican presidential nominees listed on the wall of Obama’s new campaign headquarters, The Hill reports.

Obama’s campaign and the Democratic National Committee are certainly keeping an eye on the other candidates as well.

But a Democratic aide told Politico the list indicates whom the Obama crew thinks it will face next November.

Those three are probably the most moderate of the Republican field, which presumably could give them a better chance to win the general election.

The three candidates have the potential to attract the independent voters that Obama will need to win the race, just as he did in 2008.

thehill.com/homenews/administration/166217-obamas-focus-romney-pawlenty-and-huntsman

[marshabar1]

Thomas Sowell:Among the other announced Republican presidential candidates, former governor Tim Pawlenty of Minnesota talks the most sense and shows the most courage. When you tell people in a corn-producing state like Iowa that you want to cut back on Ethanol subsidies, that takes guts, because Iowa will also produce the first results in next year's primary campaign season. And first results, like other first impressions, carry a lot of weight.
But somebody has got to talk sense about our dire economic problems-- and it is painfully clear that Barack Obama will not be that somebody. The fact that Pawlenty has put his neck on the line to do so is a big plus.

Tim Pawlenty cites his track record to back up his statements. That includes reducing Ethanol subsidies when he was governor of Minnesota and cutting the growth of state government spending from just over 20 percent a year to under 2 percent a year.

Governor Pawlenty fought Minnesota's transit unions over runaway pensions and hung tough during a long strike. "Today," he says, "we have a transit system that gives commuters a ride, without taking the taxpayers for a ride."

Some fear that Governor Pawlenty doesn't have the charisma and fireworks rhetoric that they would like to see in a candidate. Charisma and rhetoric are what gave us the current disastrous administration in Washington. Charisma and rhetoric gave people in other countries even bigger disasters, up to and including Hitler.

Politicians and the media may want a candidate with verbal fireworks but the people want jobs. As Tim Pawlenty put it: "Fluffy promises of hope and change don't buy our groceries, make our mortgage payments, put gas in our cars, or pay for our children's clothes."

www.realclearpolitics.com/articles/2011/06/14/is_pawlenty_plenty_110192-2.html

[AgeOfEnlightenmentSCP]

I'm wary of Romney because he looks like a giant RINO. I'm concerned about his unrepentant blather about the global warming hoax, and the "Obamneycare" he says he really wants to repeal- but he won't apologize for Romneycare mess in MA.

[AgeOfEnlightenmentSCP]

...oh, and you add to it the fact that the far left fringe media seem to be having an affair with Mitt Romney- it's extra scary.

[marshabar1]

I agree, Paul. He looks wishy washy and he is wishy washy. His eyes just slide around. Tim Pawlenty's got grit. His eyes flash and you can see steel. He doesn't say words to hear himself talk, he says what he means and he'll fight for what he believes. Oh to have a manly man in that office. What a relief that will be.

Seriously there are plenty of old people who voted for the Democrat last time who wouldn't be caught dead voting for Obama this time. No matter how much the Democrats try to scare them as usual about Republicans, they are MORE SCARED of Obama.

[Deleted]

Pawlenty looked good last night. I am going to start paying attention to him. Romney scares me on several issues, and he looked too slick last night. Reminded me of Obama somehow. i don't like things I am reading lately that seem to imply Romney is "in." It's way too early for anyone to say that...

[NoMoreLunacy]

Jun 14, 2011 16:16:45 GMT -5 @krickitt said:

Pawlenty looked good last night. I am going to start paying attention to him. Romney scares me on several issues, and he looked too slick last night. Reminded me of Obama somehow. i don't like things I am reading lately that seem to imply Romney is "in." It's way too early for anyone to say that...

Romney is educated, suave, and highly successful in the corporate world. No wonder he turns you off.

[NoMoreLunacy]

Jun 14, 2011 15:44:10 GMT -5 @marshabar1 said:

I agree, Paul. He looks wishy washy and he is wishy washy. His eyes just slide around. Tim Pawlenty's got grit. His eyes flash and you can see steel. He doesn't say words to hear himself talk, he says what he means and he'll fight for what he believes. Oh to have a manly man in that office. What a relief that will be.

Seriously there are plenty of old people who voted for the Democrat last time who wouldn't be caught dead voting for Obama this time. No matter how much the Democrats try to scare them as usual about Republicans, they are MORE SCARED of Obama.

Yeah, that's why when he was asked to defend his Obomneycare comment he waffled like an eggo. No balls on that guy. He is trying to become Romney's VP, but I hope Romney kicks his arse tot he curb.

[NoMoreLunacy]

Jun 14, 2011 15:27:05 GMT -5 AgeOfEnlightenmentSCP said:

I'm wary of Romney because he looks like a giant RINO. I'm concerned about his unrepentant blather about the global warming hoax, and the "Obamneycare" he says he really wants to repeal- but he won't apologize for Romneycare mess in MA.

What's the Romneycare mess in MA, Paul? I live in MA, so before your BS, remember that I know a little bit about this.

[Mkitty is pro kitty]

Tim Pawlenty's got grit. His eyes flash and you can see steel.

Really? During the debate, when asked about his Obnomneycare (that equals Obama + Romney care) comment, Pawlenty hemmed and hawed when Romney was standing right there beside him, but he seemed pretty confident about squawking about it when Romney wasn't around. That's not grit, that's chicken shit. I guess tame debate confrontations with members of your own party are that Man of Steel's Kryptonite. Goodness gracious, what will happen when he has to confront a third world dictator?

he'll fight for what he believes

Just as long as he can fight behind people's backs.

Oh to have a manly man in that office.

Maybe you can write that in your diary or something. You know, maybe he can have Fabio's hair and Justin Bieber's voice too, I guess. How dreamy!

Don't worry, Romney is trying the same thing with Obama and jobs. He complains about how bad Obama's job record was, but when he was governor Massachusetts, it ranked 47th in job creation, and would have been 48th if Katrina wouldn't have hit.

No matter how much the Democrats try to scare them as usual about Republicans, they are MORE SCARED of Obama.

Bla, bla, bla, yakkity, flap-flap.

Looks like conservatives are again having that talk the talk / walk the walk problem again.

[marshabar1]

I think Pawlenty refused to be baited into a slappy fest. He wanted a debate and he got his ideas across. I hope he keeps using the Obamneycare jab because it is true and effective. I agree, krickitt, Romney just looks kind of oily to me. Always has.

I have no doubt Pawlenty will continue to make a good case for the economic plan he proposes. I think he'll get stronger and stronger. There are plenty of very smart people who are taking notice of him. While most candidates are content to posture and pose he is chewing on the biggest problem we have. It will be about the economy and I can't wait to see him take Obama on.

[NoMoreLunacy]

Jun 14, 2011 16:30:37 GMT -5 @marshabar1 said:

I think Pawlenty refused to be baited into a slappy fest. He wanted a debate and he got his ideas across. I hope he keeps using the Obamneycare jab because it is true and effective. I agree, krickitt, Romney just looks kind of oily to me. Always has.

I have no doubt Pawlenty will continue to make a good case for the economic plan he proposes. I think he'll get stronger and stronger. There are plenty of very smart people who are taking notice of him. While most candidates are content to posture and pose he is chewing on the biggest problem we have. It will be about the economy and I can't wait to see him take Obama on.

He seemed content to initiate the slappy fest on Faux News. But in front of Romney, he soiled his pants. Heh heh heh.

[Deleted]

Pawlenty looked good? ... we must have different definitions...

[NoMoreLunacy]

“Debates are competitions – they are alpha dog battles,” explained longtime GOP ad man Alex Castellanos. “To win one, you have to create what I call an ‘MOS,’ a moment of strength. Tim Pawlenty had a chance to get in the ring tonight with the heavyweight champion and create such a moment. He refused to enter the ring. It was like LeBron refusing to take the big shot [Sunday] night.”

[NoMoreLunacy]

Huckabee to Pawlenty: After last night, I’d fire some of my consultants if I were you

[hello fromWarsaw]

Same old, same old

[txbo]

The only two candidates that looked good last night and came out on top are #1 Romney and #2 Bachmann. If this is any indication, Romney will be nominated.

[NoMoreLunacy]

Bachmann could take Iowa though. That would put pressure on Romney. The Republican establishment of course would come down hard on Bachmann, but your never know with the tea party folks.

[marshabar1]

Jun 14, 2011 18:26:31 GMT -5 NoMoreLunacy said:

“Debates are competitions – they are alpha dog battles,” explained longtime GOP ad man Alex Castellanos. “To win one, you have to create what I call an ‘MOS,’ a moment of strength. Tim Pawlenty had a chance to get in the ring tonight with the heavyweight champion and create such a moment. He refused to enter the ring. It was like LeBron refusing to take the big shot [Sunday] night.”

Host was baiting Pawlenty into attacking Romney. Too bad Pawlenty isn't a trained monkey. It is clear that all candidates were intent on sticking to the issues except Bachmann and Gingrich who were all mememe. They didn't want to attack each other (yet) and I'm glad. They've all got more ideas in their little fingers than Obama has in his whole brain. Shoot he even copied Romneycare.

[zipity]

Actually, the first couple years of the Reagan recovery came in at over 7 percent. And as Pawlenty noted in his speech at the University of Chicago this week, between 1983 and 1987, the Reagan recovery grew at 4.9 percent annually. I note that Pres. John F. Kennedy also had a 5 percent growth target, a response to Ike’s three recessions.

One big difference here, the economy didn't respond to the tax cuts Reagan enacted in his first year and he spent the rest of his presidency raising taxes. Not having learned that lesson, Pawlenty is determined to cut taxes which will do little more than run deficits through the roof. The only way he could prevent that would be to gut social security and medicare, which won't happen so that means slashing defense spending. No thanks.

What's the Romneycare mess in MA, Paul? I live in MA, so before your BS, remember that I know a little bit about this.

I'm looking forward to this explanation myself. First the state covers 97ish% of MA residents now the global payment system experiment has shown to reduce costs while improving the quality of healthcare and patient satisfaction. If the results of that experiment hold true as it's rolled out on a larger scale MA will be headed in the right direction. At that point you can count on Romney doing one of his famous flip flops and declaring that that Romneycare works just as he planned.

Bachmann could take Iowa though.

How can people vote for someone who doesn't know where the first shots of the US Revolution were fired? At least she hasn't talked about Paul Revere firing shots and ringing bells on his midnight ride...yet.

[NoMoreLunacy]

Jun 14, 2011 20:39:53 GMT -5 @marshabar1 said:

Jun 14, 2011 18:26:31 GMT -5 NoMoreLunacy said:

“Debates are competitions – they are alpha dog battles,” explained longtime GOP ad man Alex Castellanos. “To win one, you have to create what I call an ‘MOS,’ a moment of strength. Tim Pawlenty had a chance to get in the ring tonight with the heavyweight champion and create such a moment. He refused to enter the ring. It was like LeBron refusing to take the big shot [Sunday] night.”

Host was baiting Pawlenty into attacking Romney. Too bad Pawlenty isn't a trained monkey. It is clear that all candidates were intent on sticking to the issues except Bachmann and Gingrich who were all mememe. They didn't want to attack each other (yet) and I'm glad. They've all got more ideas in their little fingers than Obama has in his whole brain. Shoot he even copied Romneycare.

Baiting? Attacking Romney? Pawlenty did all that by himself just the day before. On Sunday, on Faux News, he made his ObomneyCare speech. So the host asked him, what about it? You have the Governor right here, you have some concerns about his policies, speak up. What did Pawlenty do? Run away with this tail between his legs. Talk tough when Romney is not there to slap him around in open debate, run away when Romney is there. Heh heh heh.

[NoMoreLunacy]

How can people vote for someone who doesn't know where the first shots of the US Revolution were fired? At least she hasn't talked about Paul Revere firing shots and ringing bells on his midnight ride...yet.

Why not? She is after all in the Congress.