Good Morning, Mr. President Romney!
Wall Street would wildly celebrate a Romney victory in the coming election. The millions of dollars it invested in his campaign would have paid off.
It was a long election night, but the outcome on the morning of November 7th could not have been better. Mitt Romney was elected the 45th President of the United States. On the floor of the New York Stock Exchange, the traders could hardly believe their good fortune. They had been all but resigned to putting up with Barack Obama for another four years, but now energy and armaments stocks were going through the roof, as were bank stocks. Gone were the days of the evil, predatory capitalist. Their investment had paid off. Four years earlier, the five largest investment houses put around $4 million into Barack Obama's campaign. This year, an equivalent amount went to his Republican challenger.
But if it turned out this way, just how much would economic policy change in the United States? In contrast to Obama, President Romney would put far greater store in fossil fuels. The controversial Keystone Pipeline, as well as pumping dirty oil from sands in Alberta to the Gulf of Mexico, would get a thumbs-up. Natural gas fracking, oil sands and horizontal drilling — these unconventional technologies would produce 1.7 million jobs in the United States. By 2020, some three million workers would be employed. Alternative energy could scarcely expect any government subsidies. In the educational sector, Obama wants to hire 100,000 new math and science teachers. Romney, on the other hand, says we need to give incentives to well-educated teachers. According to Romney we need quality, not quantity.
America sits on a $16 trillion dollar pile of debt. Mitt Romney wants to lower taxes on small businesses and cut income taxes nationwide by twenty percent. And he thinks that will reduce the debt? Less income without cutting expenditures for armaments? Oh, but Romney says he would eliminate government support for public broadcasting. Its television arm is responsible for Sesame Street. Too bad, Big Bird!
The morning of November 7th: It was all just a dream. Obama is re-elected. The markets groan in misery. Bert and Ernie breathe easy once again.
It was a long election night, but the outcome on the morning of November 7th could not have been better. Mitt Romney was elected the 45th President of the United States. On the floor of the New York Stock Exchange, the traders could hardly believe their good fortune. They had been all but resigned to putting up with Barack Obama for another four years, but now energy and armaments stocks were going through the roof, as were bank stocks. Gone were the days of the evil, predatory capitalist. Their investment had paid off. Four years earlier, the five largest investment houses put around $4 million into Barack Obama's campaign. This year, an equivalent amount went to his Republican challenger.
But if it turned out this way, just how much would economic policy change in the United States? In contrast to Obama, President Romney would put far greater store in fossil fuels. The controversial Keystone Pipeline, as well as pumping dirty oil from sands in Alberta to the Gulf of Mexico, would get a thumbs-up. Natural gas fracking, oil sands and horizontal drilling — these unconventional technologies would produce 1.7 million jobs in the United States. By 2020, some three million workers would be employed. Alternative energy could scarcely expect any government subsidies. In the educational sector, Obama wants to hire 100,000 new math and science teachers. Romney, on the other hand, says we need to give incentives to well-educated teachers. According to Romney we need quality, not quantity.
America sits on a $16 trillion dollar pile of debt. Mitt Romney wants to lower taxes on small businesses and cut income taxes nationwide by twenty percent. And he thinks that will reduce the debt? Less income without cutting expenditures for armaments? Oh, but Romney says he would eliminate government support for public broadcasting. Its television arm is responsible for Sesame Street. Too bad, Big Bird!
The morning of November 7th: It was all just a dream. Obama is re-elected. The markets groan in misery. Bert and Ernie breathe easy once again.