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Romney vs. Obama: An Economic Battle

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    FBN’s Neil Cavuto breaks down the stories that will drive the election.

  • Duration 8:30
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Next -- big baby the debates begin any presidential election said.

Wednesday.

Denver.

Starts with the economy than on foreign policy than both of those topics and -- several critical issues that should see ignite some heated discussions.

Neil Cavuto will be covering all of the debates on site.

Yesterday -- talk with Republican vice presidential candidate Paul Ryan on the issue of tax reform.

-- talk about revenue neutral tax reform conservatives across the board and many Democrats by the way.

Democrats from the mid eighties the lord of the Ronald Reagan some Democrats recently have said.

Pro growth tax reform.

We're saying revenue neutral tax reform which says in exchange for some loopholes everybody gets lower tax rates see that's what creates growth -- And look -- Mr.

Neil Cavuto is -- right here right now is that I have.

Election winner talking about tax reform I don't know I was looking actually don't count but you have for personal spending.

-- -- minutes 48 seconds account at a excited.

As well -- Russia should yeah.

It and unfairly got to know -- know we can go to the numbers and you can you.

That's a lot -- -- in a separate shot clock forget that's.

-- they need to get it out could it up and -- you know when you look we did in congress instead it really as you're I didn't have to talk about it.

Well I just call no all right this is not.

Yeah that's on top of everything alcohol and I appreciate that -- -- you're gonna get doesn't bubble in the money supply.

-- at odds are I would -- you're talking about Brian or you don't -- they.

They are bringing him out now it's it's in response to this pressure -- supposedly.

-- Republican money guys and -- get him out they're gonna on the -- make the case out of nobody is making the case we'll see -- it does you know in the infant.

Big thing as the debate obviously you're gonna go has -- said all these debates.

Romney decided that Romney needs a turn around he was asked about a -- did not only to turn around -- Cuts stay the course but he doesn't -- something he needs -- and I guess it's gotta come in the debates.

Little debates -- always -- soul.

For the challenger if you think about because everyone knows the incumbent so the challenger -- to present a credible.

Argument to be a credible alternative I always think that women -- -- is unpopular and this president remains basically.

Unpopular in the in the economic sense any persons -- popular.

So -- that comes when the Jimmy Carter did not.

But I think in 1980 and so he does this many times we were willing -- change horses midstream but we did want to size up the other wars and Ronald Reagan.

Polite people of their concerns that he was this shoot from the hip cowboy and an improved -- appealing alternative -- whether Romney does that is anyone's guess but.

Did the dates consequential leaning more to him.

As a result most important economic issue that Mitt Romney really needs to seize upon you give the American people answers as we can take -- everything from jobs -- -- growth.

Or that lack thereof.

Gasoline prices the debts entitlements you name it but a lot of that doesn't.

It's important but doesn't seem to be really -- -- what matters.

We you know what's funny the latest and we had a debate about.

Government and whether we should have more or less of it really was in 1980 about it.

And Ronald Reagan put it and a -- face on scaling back government.

Mitt Romney if you believe all these -- I don't share or buddy Stewart Barneys you that there's a -- going on in these polls -- -- it.

You can argue that they might be skewed for other reasons but I don't believe dot could the black helicopters well.

I love Stewart did you know it's from Brooklyn yeah it's not a British sat on the front anyway I so I understand he's got a but I do think the trend line we get in the polls and this is from what you would mention it it got -- if you as well.

That.

It.

He's got to put a nicer face on what -- do with government.

-- downscale government -- has thus far if he can pulled at all he he could turn this.

You know that brings up accomplished in question because there are a lot of angry Republicans right now either because -- -- said they think the roles.

Our fair or they think Romney is kind of blown it not run and a great campaign what is system is a hate hate you.

The economy stinks and this president still leading in these -- -- doing what he sent.

Well it's not an open and shut case about whether it's all awful -- the numbers certainly.

At this stage a recovery are are pathetic they shouldn't be at this time but you know there's an argument to be made in this could make it different it was get -- is it's different this time.

That I think and it and it and we've addressed this before common that we as a nation have gotten so used to pathetic numbers that when they're not it's pathetic we feel like we've been a home run.

But the fact of the matter is even when we see an uptick in housing.

We will -- -- the best level in a year or something we forget that businesses that half the level we were out in the middle of the housing boom a third the level we're out prior to housing boom.

So we put in into different context and we're very grateful for so little the president could ride that to -- unless it's Mitt Romney's steps back and says.

Why are we as Americans settling for mediocrity -- -- week settling for one point 3%.

GDP anywhere out of a fraction of what it -- Our clock ran out we have some of these personal lawyer -- -- and spending numbers and that's -- consumer spending that's the biggest increase in six months.

In the in the month of August come in what we saw they -- sets up.

Half of percent right and then the what was the other side of -- -- the spending numbers up one half of 1% what about the income side of the equation a point 1% on incomes.

That's a little bit short of expectation -- -- -- It's up just a countdown clock from -- a lot of Elise is an annual median awaiting an idea -- I think it's a mixed -- in this whole idea about incomes though they don't go up then they -- Lebanese and actually interestingly the unexpected uptick in spending.

You know spending levels as a whole not to get to want to hear.

Are still running at a third the level they should be at this stage of recovery so we see an uptick we're grateful for not to -- but that's the whole.

Sort of optics of this election.

Who will.

We -- in an environment.

We're at the slightest of improvements is is greeted as the -- -- twenties again but it's not.

And that's the mission for Romney now next week.

How does he stepped back and say look we we have come as a country.

Where we're settling for one point 3% growth where we're settling for housing that's running a fraction of the level it should be at this stage recovery.

Where were robbing Peter to pay Paul and -- Foreigners who would -- -- throats is and then get -- -- -- us to buy our debt -- is that environment that he's not.

Addressing and and that it did the debate is his chance to do it and end -- challenger to always says some challenges live up to that.

You know Ronald -- comes to mind some don't John Kerry constant.

But does -- need to have that.

Ronald Reagan on where -- where it's it's Schumer filled but I would memorable line well -- -- is that an obstacle tells the story about the very there you're there you go again line but that that that's.

Just -- -- -- imagined it did do a lot of things that were bothering Ronald Reagan we were told behind the scenes about what equal one lie after another Jimmy Carter's I didn't say that in says.

But when he got to the today he didn't go to a laundry list of all the things he fought harder misrepresent he just said there you -- and left to the debt.

Beckel actually talks about the Mondale line about the on -- and I want the audience and where -- -- laugh.

Right and there was you know remember that was after the first debate -- look like Reagan had become this from the dual and he -- so overwhelmed he couldn't answer questions.

So they let Reagan be Reagan for the second debate and didn't over train and and a and I think there's -- to be said it's on these debates that really invariably come down -- Letting the candidate neither candidate.

Doesn't always work out that way they have to study you have to know the facts -- -- it.

But I I think those who are most comfortable in their own shoes.

Wonder what that means for Romney Butler well.

You know well is very expensive shoes and a half ethnic and to be very -- talk -- B Romney.

We will say that's what's gonna make that this is what makes this anchor -- -- men are both very comfortable review comic and -- Amazon dot.

We'll let you all -- and that's what -- yeah.

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