The GOP Presidential Debate Forgot One (Big) Issue: The Economy

The GOP's presidential contenders at CNN's June 13, 2011, debate in New Hampshire.Wang Fengfeng/Xinhua/ZUMAPress.com

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


For all the talk of Sharia law and same-sex marriage and Coke-versus-Pepsi, Monday night’s Republican presidential debate somehow avoided any serious discussion of the one issue Americans care most about: the economy. As MSNBC’s First Read noted, apart from the usual empty rhetoric about tax cuts and deregulation, “not a single GOP presidential candidate offered a convincing plan on how to create jobs.”

How can that be? Well, for starters, many of the GOP’s contenders have yet to come out with credible, substantive plans to breathe life into the labor market and ramp up economic production in the US. For all their criticism of President Obama’s handling of the economy, candidates like Rep. Michele Bachmann (R-Minn.), former House speaker Newt Gingrich, and even frontrunner Mitt Romney have yet to offer serious ideas of their own. With that in mind, it’s not surprising the GOPers shied away from tough economic questions at the debate, and instead went on the offensive, saying Obama had “failed the American people both on job creation” (Romney) and that his economic report card “has a big failing grade on it” (Bachmann).

The one GOP contender who has laid out an economic plan is former Minnesota governor Tim Pawlenty. If anything, his agenda has undermined his credibility as a candidate. There’s his laughable “Google test,” in which he said that if “you can find a good or service on the Internet, then the federal government probably doesn’t need to be doing it.” Does that mean Pawlenty would outsource national defense, education, prisons, food inspectors, and fire departments?

Even more dubious is Pawlenty’s promise to increase annual GDP growth to 5 percent by stripping away regulations, slashing tax rates, and cutting spending. Pawlenty pointed to both the Reagan and Clinton administrations as evidence that 5 percent is a realistic goal. In fact, Reagan and Clinton enjoyed economic growth of 3.5 percent, and in Clinton’s case, the economy grew after Clinton raised taxes on the wealthy, not cut them.

Exhibit A in how massive tax cuts don’t help the economy are the 2001 and 2003 Bush tax cuts. Slate‘s Dave Weigel recently asked Pawlenty how he thought tax cuts would boost the US economy, considering how miserable of a failure Bush’s buffet of tax cuts were:

WEIGEL: “After the Bush tax cuts we got slightly less revenue, we got a larger debt. You’re talking about tax cuts as part of a larger plan that will grow the economy, reduce the deficit over the long term. Why would that work when the Bush tax cuts didn’t?”

PAWLENTY: “Keep in mind, our plan does not just cut taxes. It cuts spending. Big time. So as people look back to the historical examples, there’s been other chapters where tax cuts have been enacted, and almost always they raise revenues if you just isolate the effect of the tax cuts. But I think they didn’t fully serve their intended purposes, because at the same time, past Congresses and administrations also raised spending. That’s not what we’re proposing. We’re not proposing to cut taxes and raise spending. We’re proposing to cut taxes and cut spending, and if you do that we’re going to grow jobs by shrinking government. We’re going to grow the private sector by shrinking government.”

With long-winded, vague answers like that, it’s no wonder Pawlenty didn’t go hog wild on economics in last night’s debate. The Bush tax cuts “didn’t fully serve their intended purposes”? What does that even mean? If cutting taxes for the rich was intended to shift more wealth to the wealthiest Americans, then by all accounts they did what they were intended to do. Since 2001, the average household income for the top one percent of earners has leaped from $1.1 million to about $1.8 million; for the middle 60 percent of earners it has flatlined. And as my colleague Stephanie Mencimer reported, people making over $3 million a year enjoyed an average tax cut of $520,000 thanks to the Bush tax cuts—more than 450 times the average middle-income family’s cut.

Jobs and the economy will surely figure into future presidential debates more than they did last night. They have to. Americans demand it. But will we hear any legitimate plans from the Republican candidates? Don’t hold your breath.

WE'LL BE BLUNT

It is astonishingly hard keeping a newsroom afloat these days, and we need to raise $253,000 in online donations quickly, by October 7.

The short of it: Last year, we had to cut $1 million from our budget so we could have any chance of breaking even by the time our fiscal year ended in June. And despite a huge rally from so many of you leading up to the deadline, we still came up a bit short on the whole. We can’t let that happen again. We have no wiggle room to begin with, and now we have a hole to dig out of.

Readers also told us to just give it to you straight when we need to ask for your support, and seeing how matter-of-factly explaining our inner workings, our challenges and finances, can bring more of you in has been a real silver lining. So our online membership lead, Brian, lays it all out for you in his personal, insider account (that literally puts his skin in the game!) of how urgent things are right now.

The upshot: Being able to rally $253,000 in donations over these next few weeks is vitally important simply because it is the number that keeps us right on track, helping make sure we don't end up with a bigger gap than can be filled again, helping us avoid any significant (and knowable) cash-flow crunches for now. We used to be more nonchalant about coming up short this time of year, thinking we can make it by the time June rolls around. Not anymore.

Because the in-depth journalism on underreported beats and unique perspectives on the daily news you turn to Mother Jones for is only possible because readers fund us. Corporations and powerful people with deep pockets will never sustain the type of journalism we exist to do. The only investors who won’t let independent, investigative journalism down are the people who actually care about its future—you.

And we need readers to show up for us big time—again.

Getting just 10 percent of the people who care enough about our work to be reading this blurb to part with a few bucks would be utterly transformative for us, and that's very much what we need to keep charging hard in this financially uncertain, high-stakes year.

If you can right now, please support the journalism you get from Mother Jones with a donation at whatever amount works for you. And please do it now, before you move on to whatever you're about to do next and think maybe you'll get to it later, because every gift matters and we really need to see a strong response if we're going to raise the $253,000 we need in less than three weeks.

payment methods

WE'LL BE BLUNT

It is astonishingly hard keeping a newsroom afloat these days, and we need to raise $253,000 in online donations quickly, by October 7.

The short of it: Last year, we had to cut $1 million from our budget so we could have any chance of breaking even by the time our fiscal year ended in June. And despite a huge rally from so many of you leading up to the deadline, we still came up a bit short on the whole. We can’t let that happen again. We have no wiggle room to begin with, and now we have a hole to dig out of.

Readers also told us to just give it to you straight when we need to ask for your support, and seeing how matter-of-factly explaining our inner workings, our challenges and finances, can bring more of you in has been a real silver lining. So our online membership lead, Brian, lays it all out for you in his personal, insider account (that literally puts his skin in the game!) of how urgent things are right now.

The upshot: Being able to rally $253,000 in donations over these next few weeks is vitally important simply because it is the number that keeps us right on track, helping make sure we don't end up with a bigger gap than can be filled again, helping us avoid any significant (and knowable) cash-flow crunches for now. We used to be more nonchalant about coming up short this time of year, thinking we can make it by the time June rolls around. Not anymore.

Because the in-depth journalism on underreported beats and unique perspectives on the daily news you turn to Mother Jones for is only possible because readers fund us. Corporations and powerful people with deep pockets will never sustain the type of journalism we exist to do. The only investors who won’t let independent, investigative journalism down are the people who actually care about its future—you.

And we need readers to show up for us big time—again.

Getting just 10 percent of the people who care enough about our work to be reading this blurb to part with a few bucks would be utterly transformative for us, and that's very much what we need to keep charging hard in this financially uncertain, high-stakes year.

If you can right now, please support the journalism you get from Mother Jones with a donation at whatever amount works for you. And please do it now, before you move on to whatever you're about to do next and think maybe you'll get to it later, because every gift matters and we really need to see a strong response if we're going to raise the $253,000 we need in less than three weeks.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate