The Obama-Romney math

The United States presidential duel’s focus is economics. President Barack Obama and the most potential Republican contender for White House to date, Mitt Romney, are now mastering their skills for speaking on economics, thus making it the core agenda issue.

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Published: Sat 21 Apr 2012, 11:10 PM

Last updated: Fri 3 Apr 2015, 12:37 AM

The Republicans, who had always put up an air of bravado on foreign policy by posting their adventurist and interventionist strategies on how to sustain America at the pinnacle of power politics, realise that ground realities do not make a convenient case. The disaster swings from the Wall Street would keep on costing immensely. It is here where Obama gets an advantage, as he has long campaigned and worked on the macro and micro economics of the US, by making Medicaid, pension and subsidies indispensable issues.

On the math of statistics, Obama can win hands down, as he has been able to change the tide of recession and in making the economy grow. So has the balance sheet with employment opportunities where around two million new job avenues have been explored. More than 50 million pensioners and millions more who survive on subsidies have been closely integrated into a federal assured scheme. This is no small achievement as it has come right in the face of stagnation and an odd international financial environment, wherein outsourcing and plight of capital had unnerved the United States. Now it remains to be seen, how Romney, who brings with him a mindset of pampering big businesses, would be able to strike a chord and retain the sanctity between those who count on dollars for an hour of services dispensed and those who indulge in extravaganzas as a module of business strategy.

Romney, however, is yet to spell out a strategy of his own when it comes to lifeline aspects of the economy. Posturing for budgets that shower the wealthiest Americans with even more tax cuts could backfire badly for the Republicans. The sub-prime scandal and the subsequent Wall Street debacle were an outcome of a similar pattern of favouritism policies. Romney simply can’t afford to advocate it even on a theoretical forum. Stimulus packages and stringent government regulations, along with subsidies — where they matter — in furthering growth, seem on path. Obama or Romney need to be quite honest in admitting that in simple words.



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