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How Effective Would Romney’s Economic Plan Be?

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  • Description

    Lehrman Institute Chairman Lew Lehrman on how Romney would handle the economy.

  • Duration 5:04
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This transcript is automatically generated

Our next guest has analyze governor Romney's plan for the economy he says it's good.

He also has some other things to say about whether joining us to talk about what this country needs to do to restore.

And prosperity.

Wall Street legend American historian Louis firemen former Morgan Stanley partner chairman of alarm and institute.

Author of the book the true gold standard great to have you here to be here Lou opt I -- -- just.

We're could askance at that there is real news is reported on reference to the north -- overtaken us and that household -- -- Very disappointing now but that -- Canada's not the only one who -- -- -- -- there are countries in Europe like Denmark and Switzerland.

Sweden Finland which are on the way.

Passed and it and it goes with almost -- comment in the national media.

And and that their currency the -- -- the Canadian dollar.

You know we're gonna start calling our currency the US dollar -- -- -- I think so -- to great reversal -- used to trade for about.

6065 cents the dollar today the loonie and Canadian dollar trades at a premium.

The United States dollar and it is a vast reservoir.

Four of the investment from abroad.

You've written.

Excellent essay is finally say.

Spend my band of if you will or your fan -- my fan votes I cast as the river construct that -- -- what.

The fact is those articles on the Romney plan are compelling one hopes he's reading them.

You say necessary but insufficient.

What is most compelling about what he is talking about what he is striving toward in his economic quarter quote plan that he's driving.

Toward the same goal that -- Ronald Reagan did in 1980.

We had Jimmy Carter with a failed presidency with a -- economy.

21% interest rates small businesses going down.

By the day in the week.

President Reagan or at that time Canada Reagan presented a four -- platform on regulation.

Tax rate reform.

A balanced budget or at least a reduction in government spending and as -- more stable dollar.

And he achieved a large part of each of them if not the entirety of all of them.

We're I think -- governor Romney sees the same thing that the failed presidency and Obama basically social socialism lite.

If you will.

Are getting heavier.

-- that okay.

Well said better metaphor.

-- On the European model and of course is that -- finance minister.

Pointed out despite the fact that Germany is the most prosperous country.

In Europe he said look we can no longer finance our entitlement or welfare state or we're going to go broke.

So that I -- running program is effective regulation.

But radically simplified.

Tax rate reform tax productive tax -- reduction but broaden the base.

Cut spending and stabilize the value of the dollar.

And with that.

Any combination of those.

If you will those colors are would throw me frankly.

Because -- would set the stage for at least or greater likelihood of return to prosperity.

What do you think in addition needs to be done.

That is sure to assure prosper.

-- governor Romney for a presidency and the four point program has to be implemented.

Who with.

The fullest possible energy and Romney has become an executive.

Who will bring together the congress may have to -- few heads.

I will be doesn't doing quite the same fashion -- Johnson did but I think he has the ability to -- a little sense into the into the success and we already have a pretty good house.

So I believe that that.

As he himself -- said.

Leadership counts the leadership of the president.

President Obama has been AWOL music WOO on the -- -- AWO well on the economic program he just.

The fallen it to the congress and -- Nancy Pelosi do it.

You're encouraged at this point.

I'm encouraged by governor Romney's program I did say that it may not be sufficient that you have many choices in for example stabilizing the currency.

Is it to be targeting nominal spending time.

Targeting they're stock of money out all of Milton Friedman or is it to be of the restoration of a stable dollar defined.

As -- was for -- 200 years in American history as a -- unit of -- all that is up for debate and I hope governor Romney and President Obama debate.

These issues -- -- -- may be wrong mrs.

But I actually believe we're moving toward.

-- more meaningful discussion of the gold standard if you will.

That's it's not discounted this it wants -- with -- the last couple Beers you're hearing more people -- Deeper about it analyst emotionally about it.

And with the obstruction of recent events over the course last few years.

Which have been helpful for that to have more serious discussion.

But -- -- good to have you with us thank you -- back to be -- up.

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