Letter: Questions about Romney remain
As the elections draw near, these questions remain:
What would our economy have been like without the rescue package? Pundits on the right are dismissive of government economic stimuli because New Deal programs failed to end the Great Depression, ignoring that World War II spending was actually the greatest Keynesian package conceivable and questions of what would have happened had Roosevelt done nothing. A truly "Loyal Opposition" would have offered, once passage of Obama's package was imminent, the votes of a few senators in exchange for a streamlined bill instead of angling for any opportunity to taint the president.
If Romney has such great deficit-cutting and job-producing plans, why doesn't he reveal some details and abandon the implausible elements? And why doesn't he predict more than 12 million new jobs in four years, as that number seems to be predicted by economists as coming regardless of who is president?
What was the role of Romney's venture capitalism in the crash? While the Fox News crowd seems to think Barney Frank single-handedly caused the crash, centrist economists put most of the blame on simple greed, a lack of regulation (part of that falling to Bill Clinton's cozying up to Wall Street), and an unnatural skewing of the economy towards the tax-advantaged incentives of capital gains.
What exactly was Romney's record on job creation? He may have saved some in re-structuring some businesses, but how many did he send to China simply to enhance his own returns? When he was governor, did he add jobs to the Massachusetts economy, or did the economy itself add those jobs, in part because of the bubble which was yet building?
Isn't it okay that regulation kills some job creation, as in oil spill clean-up, emergency response to tainted pharmaceuticals, and litigation employment following both? Inherent in Romney's five-point plan is the premise that we are entitled to take whatever subsidy we desire from the environment. How is one to presume that, unlike with lead and asbestos and past oil spills, there will be no bill due to future generations?