Could President Romney Lift People out of Poverty?

Mitt Romney wants to run a campaign promising to lift people out of poverty. Could he do it?


I’ve already expressed my disbelief that Mitt Romney wants to run for President again. But his attempt to change “tone” is interesting.

According to the New York Times,

Speaking below deck on the Midway, an aircraft carrier converted to a floating museum in the San Diego harbor, Mr. Romney criticized President Obama and sketched out a three-pronged campaign platform should he seek the presidency for a third time. He said the 2016 campaign should center on making the world safer, offering opportunity for all Americans and lifting people out of poverty.

“Under President Obama the rich have gotten richer, income inequality has gotten worse and there are more people in poverty in American than ever before,” Mr. Romney said.

So my question is, if Romney became President and wanted to keep his campaign promise, could he do it?

Just to have someone who didn’t want to hammer business, and wanted to see more jobs get created, might create a growth spurt in the economy. It is possible that the best that Romney represents could truly help lift people out of poverty.

But my question is how long would it last.

Reagan was able to turn the economy around, but Romney faces a different America. We have to consider the possibility that, like the new GOP governor of Illinois, he will find it too difficult to get the economy moving in the right direction.

And even if he does get it moving, the way our economy works, with our money being held hostage by the Federal Reserve System, virtually guarantees that economic growth would take the form of an unsustainable bubble that brings about its own destruction.

Remember, George W. Bush, gave us economic growth in part by lower taxes but also largely by endorsing the Federal Reserve’s policy of shoving down interest rates. The “growth” that Bush took credit for was mainly a bubble.

Unless Romney actually understands, and has a plan to deal with, the Federal Reserve System and the way it creates and increases income inequality, I don’t see how he can substantially reverse what has been happening to this country. On this issue I would definitely vote for him over any Democrat, because at least he wouldn’t obstruct businesses, but we need someone who is willing to push our country into major money and bank reform.

What I continue to hope for is a real “Tea Party” candidate who will fight poverty by fighting the institution that robs the poor and the middle-class, the Federal Reserve. We need someone who realizes that increasing poverty is a result of Big Government, rather than a problem it can promise to solve.