Republican Presidential Economic Debate Highlights Part I
Cain: Throw out the current tax code, go with my 9-9-9 plan.
Moderator: U.S. Banks have $700 billion exposure to Europe. How do we avoid a financial meltdown?
Romney: That's a hypothetical question.
Moderator: Would you be open to another bank bailout?
Romney: No one likes a bank bailout. Preserving our currency and financial system is essential [Romney avoids ruling out another bailout].
Moderator: Any institution TBTF?
Romney: You don't want to bail out anybody [Romney avoids completely ruling out another bailout].
Cain: Implementation of TARP was wrong.
Gingrich: There is a possibility that a meltdown could occur next year. We are not any better prepared today for a financial crisis as we were then.
Paul: We've been living in a Keynesian economy for decades. Austrian economists predicted these bubbles. The middle class lost their jobs, lost their houses.
A free market with sound money and without the Federal Reserve is the only way you put a stop to these bubbles.
Romney Defends Bank Bailouts
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Romney Defends Bank Bailouts
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