Skousen CAFE
Who REALLY Won the Debate?
Mark Skousen | 10.04.12
The overnight polls indicate that Gov. Mitt Romney trounced President Obama in the first presidential debate last night in Denver: 46% gave the victory to Romney, while only 22% offered their nod to Obama.
I’m sure Romney will get a bounce in the national polls and in the swing states this week. Intrade, the political futures market, showed Romney picking up 10 points -- his chance of winning the presidency rose to 33%. Obama’s chances fell from 76% to 65%. But Obama still is the odds on favorite to get re-elected.
Who really won? I think the actual victor was Big Government. Obama has no plans to cut government spending, or reduce taxes further, while trillion-dollar deficits and more regulation (ObamaCare, Dodd-Frank) are a mark of his administration.
Obama even said that “Social Security is structurally sound.” That’s appalling, given the trillion-dollar entitlement deficits building up. It needs to be fixed right away, before hyperinflation ensues, to pay for the unfunded liabilities (it’s already losing $53 billion a year from the Social Security Trust Fund).
He even said he would not reduce at all the spending by the Department of Education. How many teachers does the Department of Education have? None. The federal agency’s employees are all bureaucrats that tell local educators what to do. At Mercy College, where my wife teaches, staffers constantly are dealing with stupid mandates from the Department of Education.
In sum, Big Government won.
For investors, Romney is clearly the better candidate because he will at least preserve the hard-fought tax breaks investors deserve on capital gains and dividends.
http://www.eagledailyinvestor.com/skousen-cafe-who-really-won-the-debate --
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