Wednesday, November 9, 2011



Good start – lots of cheers, including for Cain…

DOW dropped 400 points because of Italy – what will you do to make sure their problems don’t take down OUR economy?

CAIN – must grow the economy; assure our currency is sound – cut spending – focus on the domestic economy – not a lot we can do for Italy now. (Great answer)

ROMNEY – should we allow Italy to fail?  Europe can take care of their own.  No we don’t need to bail out Euro banks OR American banks.  Will keep contributing to IMF and World Bank – but no bailouts (mediocre answer)

PAUL:  Let the banks fail.  Propping up prolongs the agony.  Liquidate the debt.  Bailouts prolong – Fannie and Freddie want more money… bailouts will only continue the problem. (Great answer)

HUNTSMAN:  How can we let Italy fail?  Our future is playing out in Europe – concerned we’re setting ourselves up to fail (so-so answer)

ROMNEY:  Called him out on being on all sides of the auto bailout issue – bam bam bam…. (Newt is standing next to him looking at him like he has two heads) said bailouts was wrong way to go – should have gone thru private bankruptcy.  Opponents claim Mitt keeps switching positions.  Mitt says he’s a man of consistency and constancy.  Attacks Obama on Afghan pullout – will never apologize.

PERRY:  You’ve criticized Romney – will you be flexible on tax increases?  Next president needs to send strong message – government will no longer pick winners and losers – if you are too big to fail, you are too big.

NEWT:  Question on unemployment – why is tax reform the path to job creation.  Bernanke problem and needs to be fired ASAP – audit Federal Reserve to learn who/why companies were bailed out and why others were not – contract with America – lower taxes, smaller government, American energy and letting the private sector create jobs.  GREAT ANSWER

BACHMANN:  same as Newt – we have second highest corporate tax in the world – capital is mobile and businesses left America – have to lower the tax rate – regulatory burdens like Obamacare and Dodd/Frank must go – need to build a fence on America’s southern border

SANTORUM:  You proposed a 0% tax on businesses.  Lower to zero for the manufacturing sector – government has made us un-competitive – will repeal every Obama regulation – clear message that America will compete – an energy policy that says we will produce energy in this country – cut out all subsidies (great answer)

CAIN:  People want leadership and character – 4 women have accused you or inappropriate behavior (crowd booed at questioner) American people deserve better than a candidate being tried in the court of public opinion.  (Cheers)  Last 9 days voters have spoken with their $$$ by supporting him.

ROMNEY:  You bought lots of companies – would you keep Cain on if you bought his company?  (BOOS FROM THE CROWD AT THE QUESTION) 

HUNTSMAN:  OWC says people are too rich – what would you do about the protesters?  We will no longer bail out corporations.  We have banks too big to fail – have to fix regulatory environment – was Michigan auto bailout a mistake?  Bill will be $15 BILLION when this is over and that’s not a good use of taxpayer dollars.

ROMNEY:  do public companies have an obligation to create jobs?  Or is a corporation all about making money?  America needs profitable businesses that can grow, make money, expand – government is anti-business.

Can companies be profitable AND create jobs?

PERRY:  you bet – need a flag that says OPEN FOR BUSINESS AGAIN

NEWT:  of course – people need to have a clue about history – Henry Ford, Bill Gates – are they 99% or 1% - corporations create profits AND jobs and media doesn’t report it properly.  NAILED THE QUESTIONER – I have yet to hear one reporter ask an occupy person who will pay for this park you’re occupying if not for the corporations that make money?

SANTORUM ON SHALE:  Didn’t need the government to bail out shale mining.  Talked about unemployment – college educated @ 4-5% - non-college @ 15%.... need blue collar jobs.

CAIN:  tax rate higher on richer – 9/9/9 is the same rate for all – He will throw out current code – his plan is simple – transparent – fair  - HOW WILL YOU INSURE 
PLAN DOESN’T BECOME 19/19/19 PLAN?  Taxes don’t raise taxes – politicians raise taxes

ROMNEY – you have no flat tax – why do you believe in a progressive system?  Starts saying he’d like some of everything – doesn’t talk about his tax ideas – starts talking about costs rising under Obama – focuses his tax breaks on middle-income Americans

BACHMANN:  Romney says preserve tax system – is he wrong?  Obama is wrong – he won’t go to job creators to find out how to create jobs – 47% pay NO taxes – in her plan EVERYONE pays something – creates a mentality that freedom is NOT free and all should sacrifice

PAUL:  Talk about closing agencies – lots to in private sector – tax is the disease – spending is the problem – cut $1 TRILLION from budget in first year – let the market determine the money supply (great answer)

================= first break
Crowd is very supportive of candidates and very derisive of questioners – there’s one guy who’s rabid in his questions – don’t know his name but he may stroke out before this is over!  Romney is getting the bulk of the time.  Cain and Newt are knocking their questions outta the park.  Perry looked good in his answers, but he’s low man on the time totem pole in the first round.  The questioners tried to get candidates to jump on Cain about his character and they didn’t take the bait – and the crowd was NOT happy with this tact

=================  returning…. Going to talk about solutions to the housing problems

Economists say we must have a recovery in the housing market.  4 million behind or in foreclosure – Romney says let the market play out  Is he right?

NEWT:  If house would repeal Dodd/Frank, housing market would start to improve overnight – change rules for short sale to make that better than a foreclosure – but solution is the economy must come back for the housing market to come back
ROMNEY:  your 59 point plan doesn’t mention housing – why?  Because it’s a jobs plan, not housing plan.  Have to get people back to work so they can pay for houses.  Do the opposite of what Obama has done to get the market going.  Get the government OUT of the housing market

PERRY:  GDP is negative – Perry replied ‘not in Texas’ because Texas has pulled back on regulations… CHEERS FROM THE CROWD… next president has to have the courage to repeal every regulation since 2008 – if it’s killing jobs, do away with it

BACHMANN:  We have to stop what we’re doing now.  90% of homes are now backed by Fannie/Freddie – who asked for $13 Billion more in bailouts…. And 10 top execs just got $10 million in bonuses – lunacy – let ‘em go bankrupt

NEWT:  Newt’s company got money from Freddie/Fannie – what did you do for the money?  I offered them advice on exactly what they DID NOT do – told them Obama’s plan was a bubble and would not work – need smaller institutions back in the private sector

CAIN:  what would you do with Freddie/Fannie?  Start with fixing the problem by getting the economy going; get rid of the uncertainty in taxes and reduce regulatory environment.  Make them private entities and get the government out of the banking business.

HUNTSMAN:  What would you do for banks too big to fail?  I didn’t understand his answer and he was very condescending – really didn’t answer –

What’s the answer if you repeal Obamacare?

HUNTSMAN:  Meet with all 50 governors and discuss cost containment – empower patients – better job on medical records  - let the free market work

PAUL:  get the government out of health care – turn it back to patients with medical savings accounts – care quality down/prices up – bipartisan mess

PERRY:  Medicare options to choose; doctors need incentives on health care vs. sick care; Medicaid back to the states and let them do that

CAIN:  HR 3000 – already written..  allows decisions to be with patients and doctors

ROMNEY:  States to care for their own uninsured – let individuals purchase their own insurance – get healthcare more market oriented; malpractice system needs to be overhauled

NEWT:  Colleagues have done a great job answering an absurd question – to say in 30 seconds what you’d do with 18% of the economy is ridiculous; get back to a doctor patient relationship; Medicaid back to states; increase brain science because most expensive care are long-term problems like Alzheimer’s

BACHMANN:  Allow Americans to shop nationwide for health insurance; medical malpractice liability reform; get rid of government bureaucracy in healthcare

SANTORUM:  Favors health savings accounts; proposed a block grant for Medicaid – reforming Medicare – getting government out of healthcare

OMG – Mitt’s hair is out of place!  We spend too much on healthcare – 18% of 

GDP – asked him about Romneycare and government involvement

PAUL:  Trillion in cuts includes getting rid of 5 departments – started rambling about bailout – lost me after one sentence

================= second break
The questioners are getting contentious and the candidates are standing up to ‘em – it’s wonderful!  Again, Romney was the least impressive because he rambled – and Paul’s meds are starting to wear off – I swear, he gets nuttier as the night wears on – he has a problem focusing!  (I’m getting tired of typing!  Lol)

=============== back – will talk about balancing the budget, social security, and cutting the deficit

Blamed partisan politics on downgrade – how will you put the country above politics? (Question by Caterpillar exec)

SANTORUM:  His plan is to get people back to work and both sides want that, and it focuses on middle income families

ROMNEY:  Raised fees to get credit of MASS upgraded – will that float?  He had an 85% Democrat legislature to work with – both sides agree that we have to do what’s right for the country if they have a leader – this president is driven by getting re-elected

PERRY:  Caterpillar moved their stuff to Texas because of the pro-business climate there – Perry said he’d get rid of their departments but couldn’t think of but two – oops

CAIN:  Should Boeing shut down plant in SC?  ABSOLUTELY NOT – government should get out of business – if they understand it, they will demand it – that’s how you get the people to support it and push congress

Social security will soon be in the red – payroll tax cuts causing SS to go broke sooner than proposed – would you extend the payroll tax cut?

NEWT:  will not raise taxes on Americans in this economy – let people go to private accounts (YAAAAAAAAAAAAA) – country needs to pay the debt to the people who paid in to the system

ROMNEY:  We can’t keep spending like this and passing debt to children and grandchildren – we have to stop the spending – cut programs/redundant – send ‘em back to the states – bring management expertise to federal government – public servants need to get paid same as private sector – reduce gov’t employees by 10%

BACHMANN:  Opposed extending payroll tax cuts – says SSI is already in the red – money not flowing into trust fund because of the cuts

HUNTSMAN:  gov’t owns $500,000 in GM stock; fed reserve has purchased $3.6 Trillion in securities.  What would you do to fix this?  Obama has failed miserably.  People no longer trusts the government – need to have a flat tax; phase out loopholes and corporate welfare…

Student loans in the Trillions – tuition rates rising 3X faster than economy – how would you make college more accessible?

PAUL:  Policy of student loans is a failure.  Get rid of loan programs and Dept. of Ed. – need competition and to get the government out – audit the Fed and then END the Fed - good answer

NEWT:  New Model:   End of welfare state, dependency, debt and dishonesty – taking fewer hours, staying longer in school – work/study colleges

What would you cut for long-term deficit?

PERRY:  Entitlements and spending and health care.  SSI needs to be reformatted.  Gov’t shouldn’t be in the business of loans –

================= last break

Cali hired China to build bridge parts – right or wrong?

CAIN:    LOL – wrong, and under 9/9/9  (laughter) the playing field is leveled and more competitive – tax code sends jobs overseas and that will change
ROMNEY: China isn’t playing fair – China is cheating but free trade is good for us – China stealing intellectual property and manipulating their currency – will crack down on cheaters like China 

NEWT:  We aren’t getting a fair shake selling in China.. what to do?  Would love to hear Huntsman on this?  Why is it cheaper to go to China – we need to raise the pain level for China cheating –

HUNTSMAN:  Complicated relationship – tariffs=trade war=bad idea.  Have to negotiate ideas…… sucky answer…… is Mitt pandering?  Uhhhh yes

ROMNEY:  I’m a businessman – we can compete.  Le the currency float

BACHMANN:  China has dumped counterfeit computer chips and we’re using some in DOD computers.  We’re in hock to the Chinese.  Stop enriching China by stopping borrowing

CAIN:  (questions from viewer)  Stock market is a casino with computers making 70% of transactions – how to make stock market safer for the little guy??  Restore faith in businesses – volatility is being driven by uncertainty – GROW THE 
ECONOMY – Cain has a wonderful sense of humor!  LOL

Line of the night from CAIN – three problems with Dodd/Frank bill 1:  provides no oversight for Freddie Mac and Fannie Mae; 2:  Dodd   3:  Frank (huge applause and cheering)

Is Perry guilty of crony capitalism?

PAUL:  Don’t know about Perry but lots of it going on in this country.

=================== end of the debate

AND THE WINNER IS:  HERMAN CAIN - he came out of the blocks like he was the leader of the pack, acted like it all night, was undaunted with the moderators' attempts to spear him on the character issues, and he closed out the evening with the quote of the debate - OUTSTANDING PERFORMANCE

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