Newt the Liberal

Newt Gingrich has been attacking Mitt Romney over his work at Bain Capital. The attacks, in my opinion, are unfair and shows Newt's the ignorance of the Business cycle, but also his liberalism.

He views Mitt's eliminating of toxic assets as problematic. However, Newt's and Obama's view of toxic assets is to prevent this toxicity from being jettisoned from the economy. Conservative economists have traditionally demanded the need for the economy to get rid toxicity and embrace the good assets. This is exactly what Bain Capital specialized in doing, and they were extremely successful. Both Newt and Obama have embraced the infusing of other means to keep toxic assets alive. If you remember, Romney has previously advanced using his method to help the economy improve, a proposal opposed by both the Obama Administration and Newt but studies have proven that if we could have gotten rid of toxicity, our economy would be far better off in the long run even though the short term would have been more painful. In other words, Romney is more economically conservative than Newt Gingrich.

Part of the problem with Newt is his lack of understanding of the Business cycle. Listening to him speak, his ignorant views has convinced me that he is another Republican version of Obama, lacking a clear understanding real conservative economics and the business cycle.

When I eliminated Newt from contention last Spring, I did so seeing him as an economic liberal and immoral. Today, I feel more than justified. He has outlined an economic viewpoint that is very liberal, and he is still immoral.

 

He is hypocritical. This is not the first time where he courted conservatives only to, within weeks, turn his back on conservatives and attack them (though, I don't think Mitt is a conservative, the principles Newt is attacking are conservative).

This saddens me.