Gingrich: Economy Is Stalled Until Obamacare Is Repealed

Friday, 30 Sep 2011 05:18 AM

By Hiram Reisner

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Presidential candidate Newt Gingrich says the nation’s economy will not recover until Obamacare is repealed. The former House speaker — who Thursday released his  “21st Century Contract With America” — also told Fox News’ Sean Hannity later in the day the nation “desperately” needs a “Ronald Reagan-style, job-creation opportunity.”
 
“You’re not going to get the economy to restart until you repeal Obamacare — so, in many ways it’s one of the key steps to getting the economy to grow again, and you need to replace it with a better system,” Gingrich said. “And not just go back to where we were — but that system ought to be at the state and local level, it ought to be the doctor/patient relationship, it ought to have market effects, it ought to use the most modern technology. A lot of good things, but first you repeal Obamacare — then you replace it — and that would be one of the first orders of business.

“Second, we desperately need a Ronald Reagan-style, job-creation opportunity. This month in 1983, in Ronald Reagan’s third year in office, 1,100,000 new jobs were created — last month under Obama, zero — no jobs are created,” he said. “The difference? Reagan cut taxes, cut regulations, developed American energy . . . didn’t engage in class warfare, praised people who created jobs. We have a program right here to do the same: Zero capital gains, 12.5 percent corporate rate, 100 percent expensing to farmers — businesses, factories, doctors, could write off 100 percent of the new equipment every year, and abolish the death tax permanently.”

Gingrich noted the United States has more energy resources than any other nation in the world and does not need to rely on foreign production.

“We have more energy — coal, oil, gas, bio-fuels, nuclear power, wind, solar — we have more energy than any other country in the world,” Gingrich said. “But we have an anti-American energy bureaucracy, and right now an anti-American energy president.

“The result is, we stop ourselves from creating at least a million new jobs, keeping $400 or $500 billion here at home, strengthening the dollar, bringing down the price of gasoline, and increasing federal revenues through royalties from federal lands,” he said. “Very important part of job creation — very important part of national security.”

Noting the “21st Century Contract With America” is extensive, Hannity asked Gingrich whether it would take longer to implement than the first contract, which took about 100 days and was credited with sweeping Republicans into congressional power in 1994.

“Obamacare, I think you could repeal in the first two or three weeks, because we all understand we want to do it. The Dodd-Frank bill, I want to repeal, we could repeal in the first two or three weeks, we all understand we want to do it,” Gingrich said. “Other things take longer, the replacement for Obamacare will take a while and there’s a reason for this: This is different from `94 — people are fed up watching the Congress act in secret. They’re fed up with a $700 or $800 billion stimulus package . . . They’re fed up with Obamacare being read in secret and Speaker Pelosi saying: ‘They have to pass a bill to find what’s in it.’ So, I think you’ve got to plan on asking the Congress to go through regular order.

“Subcommittee hearings, markups — out in the open. I would ask the Congress to consider having conferences on C-SPAN out in the open because they’re such important meetings,” he continued. “But that whole process will take more time than in 1994. And there’s a secondary reason: We were standing on Reagan’s shoulders. We knew what welfare reform was; we knew what we wanted to do about a balanced budget; we understood the tax bill we wanted to pass.

“We had 700 pages of legislation backing up that contract, we don’t have the same kind of depth of experience in the new world we’re now in — developing 21st century solutions — that we had in 1994,” Gingrich said.

Hannity noted Gingrich promised if elected he would immediately issue a series of executive orders and asked him to summarize the list, which appears on Newt.org.

“I will sign between 50  and200 — it’s an evolving number — we’ll publish all of them by October 1, 2012, so everybody will know a month in advance what we're going to do before the election,” Gingrich said. “The very first executive order, about 3:45 on inaugural day, we’ll abolish all of the White House czars — as of that moment, they’ll be gone.

“One of the earliest executive orders: We’ll move the American embassy from Tel Aviv to Jerusalem,” he said. “Israel is the only country in the world that we do not allow to designate their own capital — that’s fundamentally wrong — we’ll change it the first day I’m president.”

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