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Glenn Hubbard, Romney Economic advisor, on the Romney plan to tackle the U.S. deficit.
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-- the latest Romney ads slamming president Obama's efforts to tackle the national debt.
Rasmussen poll shows Romney gaining traction -- voters nationwide however.
We polls show voters -- and Romney's ability to deal with the deficit and government spending.
Are slipping -- was a seventeen point advantage in that category.
Now it's shrunk to just -- three point advantage so can Romney's TV ad blitz prevent him from striking out.
On an issue that should plan don't forget Whitney now -- a Fox Business it's business.
-- -- -- He's senior economic advisor in -- Columbia Business School dean thank you so much for joining us why it losing traction on this one issue particular.
One of the governor Romney is losing traction broadly issues pretty clear President Obama has proposed to permanently higher level of government spending relative to GDP.
And no clear way to pay for it.
Governor Romney has proposed spending restraint and entitlement reform this is one that should be very clear.
-- but take the pulse of -- quantitatively he was reading by seventeen points on this particular question and now it's -- to easily three point to have combat so why do you see.
I mean that's a shrink about a -- and had excellent.
I'm not a politician and a -- talk about polls like I can tell you.
There what governor Romney has is the only clear plan for fiscal restraint in the race he's outlined very clearly.
How to get government spending down on how to reform entitlements.
The choice between the American people is do you wanna have a much larger government higher taxes or smaller government lower taxes it's just that simple.
That conversation that people have about that though is that the message isn't exactly clear -- you know when they it there's either two answers that you hear from the public when you say what his Mitt Romney's -- either say his latest to cut taxes.
Which kind of comes across as cut taxes for the wealthy or that it's -- 59 point plan and that so many points it's hard to narrow it down to what it's really about you think there's a way to make the message more clear.
I think it's very clear first -- -- what we've got to do in this economy is prioritize economic growth if we do that yes living standards -- jobs how do we do that.
We need to have tax reform it's not a tax cut -- reforming -- competitive tax system.
When you have a budget restraint.
We need to have regulatory reform and we need to unlock America's energy potential.
If we do those things we can have much faster growth over the next four -- for years and about twelve million jobs if we don't.
It's more the -- But when you Citi you know tax reform and regulatory reform I think that's hard for people to get their mind around it sounds like words that don't mean anything having to add that we just showed.
He need a very strong moral argument who and where you said you know we have the moral obligation to not spend more than we have.
And pass that debt on to our kids do you think that's a better way to frame the argument.
What think it's a great argument on the budget on taxes all tax reform means is we need to cut.
Marginal tax rates for all individuals and businesses to make America saving investment and entrepreneurship -- for competitive.
To pay for that we're gonna have to broaden the tax base governor -- he's exactly right and nation.
-- continues this kind of fiscal imbalance will be handing to our children burdens they simply can't sustain.
But when you say cut taxes and broaden the base -- a lot of people see that -- -- that doesn't work how do you drive home the point that that's really possible exit sounds like.
You lower taxes and you end -- getting more revenue.
That sounds like a Laffer Curve.
You know it sounds like things a bit bit most of the public.
But does not focus on economics necessarily.
Does not believe it.
Well it's pretty simple let's go back to president Obama's own fiscal commission which by the way he forgot about the Bowles Simpson plan.
Bowles Simpson would also have lowered rates broaden the base Bowles Simpson was trying to raise net revenue governor Romney's only trying to break even.
It is possible to cut marginal -- -- Broaden the tax base not lose revenue and preserve tax fairness that is easy to do Bowles Simpson just one way.
But should just say we -- spending ourselves into oblivion we're gonna turn into Greece MED I have to make it more passionate more simple no.
Well I don't think.
The US is Greece but I do think we're well on the path to a situation that we cannot sustain.
President Obama's budget once a permanently higher level of government without seeing how we're gonna pay -- no president has been as reckless I think it's.
Morally irresponsible to spend more than we have been handed off to our kids.
That was agreed argument -- should stick with that Glen -- thanks for coming on we appreciate your time.
