Romney, Roubini on the economy

Following are two interviews on two noteworthy individuals, one a politician, the other an economist.

James Pethokhoukis of US News and World Report spent some time with former GOP presidential candidate and Massachussetts governor Mitt Romney in the morning of his participation in the annual CPAC to discuss the economic issues the United States is facing at the moment.  Following is an  excerpt:

[T]he economy is too big for the government to think it can pull a string and the economy will jump. It is a global economy and what is happening here will be affected by what is happening around the world. … So the best thing our government can do is encourage the conditions that allow new business to grow and old businesses to expand. And that means reduce burdens on them, provide incentives for them, encourage Americans to invest in them, build the pool of risk capital again, each of these things helps the private economy grow and that’s how you create jobs and that’s how you get us out of the doldrums we’re in.

The whole interview can be found here.

Time Magazine’s Michael Schuman then caught up with Nouriel Roubini, chairman of research firm RGE Monitor and a professor at NYU, in Hong Kong with the same goal as the previous interview.  Known for his extremely bearish stance, his POV in the following interview is no less gloomy.

I have to give [the members of Obama Administration] credit. In about six weeks, they have done three major things: the $800 billion stimulus package, a mortgage program that is much more than the previous Administration did and a bank plan that, however flawed, at least has the benefit of not having another bailout of the banks. The glass is half full. But for each one, there are some flaws … the bank plan wants to pretend that the government is half pregnant with the banks.

Here’s the complete interview.


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