It’s not 1980, when the budget had been in balance (along with the foreign account), and the world hungered for more American debt, and Americans had built up a cushion of home equity due to the home price run-up of the 1970s. Inflation was terrible, but homeowners’ equity was rising faster than inflation.
That may explain why Romney is restricting his economic discussion to generalities, and why people who are treading water with barely a nostril above the waterline don’t seem convinced. Romney’s saying the three magic words: Cut taxes across the board, roll back regulation, and keep America the world’s unchallenged military power. There’s nothing wrong with his message. But he has to traverse a minefield.
That’s why all Republicans need to stop playing games and united behind Romney and get him elected in November. I love Rick Santorum, but he has to understand that he’s not on a mission from God, and that no miracle will make him president. Santorum needs to use his rapport with the religious right (that includes people like me) to rally support for Romney and ensure a maximum turnout in November. If Santorum can accomplish this, all the effort and passion he invested into his campaign will accrue to the common good.