Saturday October 27, 2012
Endorsement of the Day: The Chicago Tribune
The Chicago Tribune was founded in 1847 and has endorsed a Democrat for president only twice: Barack Obama in 2008 and Barack Obama in 2012. From the endorsement that went out this week:
Obama ... has been careful about projecting military power overseas. At home he has initiated, or agreed to, tax cuts to promote growth: investment tax credits, payroll tax cuts and extension of all the Bush tax cuts of 2001 and 2003. He proposes to reduce a corporate tax rate that everyone this side of far left agrees is a globally unfair hindrance for U.S. businesses.
On questions of economics and limited government, the Chicago Tribune has forged principles that put us closer to the challenger in this race, Republican Mitt Romney. ... [Romney] has, though, been astonishingly willing to bend his views to the politics of the moment: on abortion, on immigration, on gun laws and, most famously, on health care.
As a governor, his signature issue was the deal he cut with Democrats to extend health care — and a health insurance mandate — to all citizens. Romneycare was the Massachusetts model on which key elements of Obamacare were modeled. Yet Romney won’t acknowledge he is, in effect, the godfather of the national health care plan he vows to repeal.
His proposals to achieve a balanced budget, and to begin reducing taxpayers’ huge debts, rest on questionable math and rosy assumptions. ...
Romney’s fix on tax cuts, plus his guarantee to protect defense spending that genuinely could constrict, leaves him precious little room to maneuver [on the federal debt]. Remember, the next president needs to reach deals that slash debt by many trillions — without bankrupting Washington in the process. ...
If a European debt meltdown doesn’t stoke another, pardon our repetition, global financial crisis, Obama’s next term would open to less economic tumult: Friday morning’s GDP reading confirms anew that U.S. economic growth has a fluttering heartbeat. Home prices are stabilizing, the stock market and consumer confidence have risen, and job growth has been steady if unspectacular.
Bolstered by his steadiness in office, cognizant of the vast unfinished business before him, we endorse the re-election of Barack Obama.