The Republican debate at Dartmouth College tonight can be viewed live here, and I am blogging it live as well as tweeting. Datechguy is on the scene and has man-on-the-street photos and his own narrated videos, and his live-blogging here.
The debate is on. Charlie Rose opens and says this debate is only about the economy. All candidates are sitting around a table. They have 1 minute. If they are mentioned by another candidate, they have 30 sec. to respond.
At the table, Romney, Perry, Cain, Bachmann, Santorum, Gingrich, Paul and Huntsman.
Cain gets the first question:
What would you do specifically to end the gridlock in Washington?
CAIN: Throw out the current tax codes (his 9-9-9 plan) and spending must not exceed revenues.
PERRY: Will work with both sides of the aisle. His plan today to put 1.2 million to work in energy. It’s time for energy independence.
ROMNEY: He is prepared to be a leader. Talking about Obama. Not a leader. Blah, blah, blah. He is prepared to work with Democrats. Both sides of the aisle must listen to the “leader.”
PERRY: His plan is to use the energy industry to put people back to work. Pull back regulations that are strangling the country. Energy, Dodd-Frank and ObamaCare have to go. He will focus on the Energy industry.
Karen Tumelty asks Bachmann (and quickly interrupts her): Wall Streets are thriving. Banks are thriving. There was a bailout for them. Do you think it is right that no one on Wall Street has gone to jail.
BACHMANN: Says the problem began with the Fed, and Freddie and Fannie. Banks were forced to issue bad mortgages. Interest rates were too low. Dodd-Frank institutionalized all the problems.
Gingrich is asked how he feels about Occupy Wall Street. Fire Bernake and Geithner. The Fix has been in. The Fix was put in by the Federal Government. Start with Barney Frank and Chris Dodd. Charlie Rose asks: do you think they should go to jail. Gingrich says go to the politicians who have been feeding this sickness. He also supported Bachmann’s position. Gingrich is hitting Bernake hard. Corrupt and wrong for one man to have that kind of secret power.
Tumelty asks Paul what he thinks about it? Paul says we have made some progress on the Federal Reserve. Bloomberg and Fox helped with Freedom of Information Act. Paul has been calling for an audit of the Federal Reserve. Paul says some at the table were against putting the brakes on the FR.
SANTORUM on Jobs shipped overseas. We must bring jobs back. Need a pro-manufacturing jobs bill. It would pass immediately.
HUNTSMAN: Taxes and Regulation have destroyed a strong marketplace.
Tumelty to GINGRICH: Medicare is going broke. Half of the spending is done in the last two years of life. The treatments and interventions do nothing to improve life. Is this wasteful spending.
GINGRICH: He mentions the head of MD Anderson and their communications. The most recent government intervention to stop testing men for prostate cancer is going to kill thousands of people. Not a single urologist on the board agreed, but the Death Panel has proscribed it anyway.
BACHMANN: We were with Obama three times this summer. We asked him each time, what is your plan to keep Medicare sustainable. Obama didn’t have an answer other than to point to decisions made my his “panel” (the Death Panel).
Asked HUNTSMAN: Who would be your mentor. He says he likes the model of his father. Says we need tax reform. He is instituted a flat tax in Utah. Too many regulations to get good people into government. Asked how he would change that? Go back decades. Do it like we used. What do people do best – stop career politicians.
Asked HUNTSMAN about Cain’s 9-9-9. He says he thought it was catchy and thought it was the “price of a pizza” when he first heard it. Wipe out corporate welfare and reduce the rate to 25% percent.
CAIN responding: 9-9-9 will pass because it has been well-studied and well-developed. Must throw out current tax code, which Huntsman’s plan does not do.
CAIN: Who do you turn to for advice. The people and Rich Lowry. Has other well-recognized economists. It will replace corporate, payroll, income taxes.
Juliana Goodman asks: It’s 2013, the economy is crashing, the world economy is crashing, what would you do differently than Obama.
ROMNEY: Take action instantly. Will not bailout. We must preserve our financial system. Wall Street bailout: What was done under Bush was done to protect us (he agrees that it was necessary). The action wasn’t perfect, some bailed out shouldn’t have been, but some of the action was essential. He wouldn’t keep Ben Bernake in office.
CAIN: Hit with praising TARP under Bush. Cain says it was the implementation of TARP that was at fault.
GINGRICH: We can have a meltdown in the next year with the EU and Greece economies. He wants every piece of communications by the Feds about what they knew about the current situation. Did they not know this was on the horizon? Why didn’t they know. Gingrich says we are not better prepared today, and we must know how the Feds made their decisions.
PAUL: The economic meltdown due to Community Reinvestment Act (CRA), and the way loans were made to people who didn’t have the means to own a house. (This means blaming Barney Frank and Maxine Waters). $5T went overseas from Fed Reserve to bail out foreign banks.
(Could moderator Karen Tumelty hate Republicans any more than visible at this debate?)
Charlie Rose: With the SuperCommittee a compromise is demanded or cuts will be automatically made. He invoked Reagans words.
ROMNEY: Answer is to cap spending. Get people working and paying taxes. Repatriate overseas income.
TUMELTY: Raise taxes or cut defense. Which do you prefer?
ROMNEY: Wants to see the SuperCommittee reigning back on spending and the scale of government.
GINGRICH: All spending cuts are acts of Congress and can be repealed immediately. Says the SuperCommittee is a stupid idea.
BACHMANN: We are spending 40% of what we take in. Gov’t spent 100% of revenue + $1.5T more. We have to cut back on spending. Charlie Rose can’t imagine not increasing revenues. Charlie Rose simply cannot accept no revenue increases. What an idiot.
(How did we end up with another bunch of Liberal moderators?)
Pretty Julianna Goodman analyzes Cain’s 9-9-9 plan.
CAIN: The problem with your analyzation is that it is incorrect. I am expanding the base, and expanding the base makes my plan work. My 9-9-9 plan does not work off of the existing tax code.
Payroll tax. 15.3% tax goes down 6%. That pays for the extra you spend for milk.
BACHMANN: The 9-9-9 plan is not a Jobs plan, it is a tax plan. The last thing you do is give Congress another pipeline to a revenue stream. The 9-9-9 plan does that. Turn the 9-9-9 plan upside down, and what you have is the “devil is in the details.”
TUMELTY: Romney would risk a trade war with China. Aren’t we already in a trade war with China?
HUNTSMAN: If we slap penalties on China, we will get them back. China will accuse our Quantitative Easing as doing the same thing China has done to devalue their currency.
ROMNEY: China is pursuing unfair trade practices. It has to stop. I will issue an Executive Order to punish trade manipulators.
PERRY: Back to Energy. He says none of this matters if we get our Energy moving, and he promises that American manufacturers will come back.
Honeywell CEO says we need an American Competitiveness agenda. What is on your American Competitiveness agenda?
SANTORUM: I want to beat China. Make America the most attractive place to do business. He tell Cain, your 9-9-9 will not pass. He asks the audience, how many in New Hampshire want a 9% sales tax. No one raises their hands. 1st Repeal ObamaCare. People won’t hire until that is done. No waivers. Repeal it. New York and California won’t “waive it.” We must REPEAL.
GINGRICH compares Romney’s economic plan “class warfare,” just like Obamas.
ROMNEY: As a venture capitalist started Staples and a steel mill still working. Created thousands of jobs.
PAUL asks CAIN: you have been critical that we wanted to audit the Fed Res and said we were “ignorant.” Now that we have gotten an audit we have found out how special companies and foreign governments get loans. Do you still think this is frivoulous.
CAIN: You misquoted me. I didn’t call you or your people ignorant. I have never said that. When I served on the board of the Fed Res in the 1990’s we didn’t do any of these things that are being done today. I have said I do not object to the FR being audited. It is simply not my top priority. My top priority is 9-9-9, Jobs, Jobs, Jobs.
PERRY ASKS ROMNEY: You chief economic advisor, Glen Hubbard, has said RomneyCare is ObamaCare. How do you explain that?
ROMNEY: What we did is not the same as ObamaCare. We dealt with only 8% of the people. We didn’t raise taxes. I am proud of what we accomplished. Massachusetts has the lowest number of uninsured kids in our state. Texas has the highest number of children uninsured. 64% of the people in Mass. approve of the Mass. plan.
ROMNEY ASKS BACHMANN: Expand on helping the American people get back to work. (good grief – does he not listen at all?)
BACHMANN: I am a mother of many. I get how difficult it is for young people to get jobs out of college. It’s not just the tax code. It’s also dealing with the federal tax code. I get job creation. $1.8T in compliance costs with government regulations. I want to get rid of that with the “mother of all repeal bills.” ObamaCare is the biggest obstacle to jobs. I authored a bill to bring down Dodd-Frank as well.
SANTORUM ASKS CAIN: You and 3 others on the panel supported TARP giving Washington another tool with his 9-9-9 plan. How can we trust you not to give Congress the ability to take freedom away from the people? (The four supporting TARP according to Santorum are Romney, Cain, Perry and Huntsman).
CAIN: There is a mechanism built-in calling for a vote before the 9% tax can be increased, and I will be president, so I will veto any legislation to do so.
Rose: How do you see health care mandates?
PERRY: The ability to purchase health care is the big problem. Without any congressional impact at all, I have laid out my Energy plan. We passed Healthy Texas which expands private sector insurance and drove down costs by 30%. We need flexibility for Medicare. Block grant dollars back to the state and keep the government out of it. (Karen Tumelty can’t stand it).
Tumelty: Texas has had 16% waivers for Medicaid.
PERRY: We haven’t had nearly enough with this current system. We want government out of it. Block-grant back to the states.
JULIANNA asks CAIN: One of the most imp appt is Fed Chairman, so which over the last 40 years has been the most successful?
CAIN: I served with Alan Greenspan and it worked fine in the 1990’s. I have already identified 2 candidates, names I cannot mention. I believe we must narrow the focus of the Fed. (ooh Cain is in trouble with this one)
PAUL: Alan Greenspan is a disaster. If I had to name one it would Paul Volcker who did “a little bit of good.”
A New Hampshire small business person asks what you will do to make small business loans more accessible? Of course, Romney gets the question.
ROMNEY: talks about Dodd-Frank being wrong. For community banks that small business loans, they cannot deal with the hundreds of pages of regulations demanded with Dodd-Frank. I guess his answer is get rid of Dodd-Frank.
BACHMANN: Mentions her Jobs and Housing Destruction Act, which is the repeal of Dodd-Frank. The new $5 debit card bill is due to Dodd-Frank. Dirty dealing. I will end all these payoffs to political donors (the $5 was a payoff to retailers).
CAIN: Agrees and says get rid of the Capital Gains Tax (his 9-9-9 does that).
PAUL: Dodd-Frank a disaster. Repeal Sarbanes-Oxley too (Republican legislation).
Tumelty: Were there inadequate safeguards on Solyndra or is this just the risk we run when the government gets into loans? Before Perry can say a word she hits him with some loans his Texas government made.
PERRY: Stands up for his loans and says they created many jobs for emerging technology. 75% made no donations to him. He says he is proud of the oversight. Texas created 1M jobs while Obama lost 2M jobs.
Here’s a video of G. W. Bush talking about homeowner rate of 68%. Exciting for the future of America. Is the Am dream of owning a home no longer realistic?
GINGRICH: Many people here want the demise of the American way of life. Says we see it everytime Barack Obama is on TV. Says he is shocked House Republicans have not repealed Dodd-Frank and Sarbanes-Oxley. About housing, you have to be able to afford to buy a house, to buy to a house. That’s where things went wrong. (He’s talking about the Community Reinvestment Act which forced the mortgages for people who had no money down – not a penny in equity, and didn’t have to qualify for their loan).
Julianna: If the payroll tax cut is not extended that would mean a tax hike for the people.
ROMNEY: The right course for Am is not to keep spending money on stimulus bill, not temporary cuts. Make tax reform. Understand how employers think and what it takes to create a job. I don’t like temporary band-aids. I want a permanent tax fix.
TUMELTY: The wealthiest are growing. Those in poverty are growing.
PERRY: People are living in poverty because we have a president who doesn’t know what he’s doing. That’s why jobs have been lost. Biggest deterent to getting Am back on track.
SANTORUM: Get a policy that supports families, has fathers taking care of children. Our families are broken.
(Someone from the audience is interrupting)
Charlie Rose: People who are despairing and need hope: What will you do about recognizing the people’s “pain.” (good grief) He asks the woman who took 23 foster children into her home.
BACHMANN: We need to individually love and take care of the people. The government can’t do that.
CAIN: I was ‘po’ before I was “poor.”
GINGRICH: People don’t want a president who sympathizes, but one who will solve problems and everyone at the table will do that far better than Barack Obama.
PAUL: Keeping government out of the lives of people, is what caring about people is about. It’s about Liberty.
SANTORUM: Create jobs in manufacturing sector of the economy. Will create for low and medium skilled persons to work.
HUNTSMAN: My state of Utah had the lowest unemployment rate in the country (that’s because they are fracking for oil there).
PERRY: People are begging for someone to make America America again. The out of work oil worker needs that.
ROMNEY: We need leadership, like that of everyone here. I am committed to making our military the strongest in the world.
Sheesh! The moderators were terrible. (I could say that so many other ways:-) DatechGuy has his own tread at Memorandum. Follow it here.