Romney: Fiscal Depression Is Possible

Friday, 03 Jun 2011 03:56 AM

By Hiram Reisner

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Mitt Romney, who announced Thursday he is running for president, believes the nation’s financial crisis is so severe that the nation is headed for a depression. Romney also said on Fox News Thursday that raising taxes would not be fair.
 
“If you have an economy where the leaders do everything wrong, anything is possible. The right course for America is to basically reverse almost every single action he's [President Barack Obama] taken as president,” Romney said. “Everything he did was what the faculty lounge members have been talking about for years. Which you hear Europeans doing. And what Europeans have done has lead to stagnation.

“High levels of unemployment — and declining competitiveness for Europe. In this country we have a different course. I believe in the way we do it,” he said.. “We believe in individual initiative — personal responsibility. Freedom — small government. These principles, these American principles are key to getting our economy back to being successful and leading the world.”

Fox News’ Sean Hannity asked the former Massachusetts governor how he would balance the federal budget.

“Some classic Democrats only think the way to balance the budget is raising taxes. But the problem with that is, not only is it unfair, but you also slowdown the economy which becomes self-defeating if you are trying to balance the budget,” Romney said.

“A lot of Republicans just say, just cut our way to balancing the budget. Well, cutting helps — and we need to do a lot of cutting and reshaping programs to make sure they are sustainable. But there's a third way,” he said.

“Combined with reducing federal spending is growing the economy — and you need to have a president who understands how to get the economy growing so we can add jobs. More people are paying taxes,” Romney said. “Companies are profitable, so they are paying more taxes. You balance the budget by restraining the growth of government and encouraging the growth of the private sector.”

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Fox News Dish Blackout Blamed on Contract Negotiations on Fees

Monday, 22 Dec 2014 02:42 AM

Fox News Channel and the Fox Business Network were blacked out on Dish Network on Sunday as part of contract negotiation . . .

Heidi Klum Ads Too Racy Even for Sin City Airport Toned Down

Monday, 22 Dec 2014 01:56 AM

Ads containing images of Heidi Klum deemed too racy even for Sin City's airport have been toned down and will appear ins . . .

Cambodia HIV Outbreak: 100-Plus People Diagnosed; Investigation Sought

Friday, 19 Dec 2014 18:50 PM

More than 100 HIV infections in a single Cambodian village have spurred the country's prime minister to ask for an inves . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved