In my Elizabeth WarrenElizabeth WarrenCures bill clears first Senate hurdle House GOP to unveil short-term funding bill Tuesday Juan Williams: McConnell won big by blocking Obama MORE column,
I referred to the war of the worlds about the future of the
U.S. economy. Well, the dark side in this war is led by Mitt Romney, the
man who likes firing people, claims that vulture capitalists are job
creators and recently criticized the housing policies of a great man,
his father, George Romney. The even darker side is led by Ron Paul,
whose reactionary economics would bring America back to Austrian
economists from a previous century, would cause a depression for
America, and have nothing to do with the Constitution or the Founding
On the Federal Reserve Board, Romney has it wrong and Paul has it backwards. The Fed should be doing more to stimulate the economy, but should not be dumping trillions of dollars onto bankers who refuse to loan. Romney's view, that those who fire workers are job creators, is absurd. Paul's reactionary view, that nothing should be done by the Fed or the government to create jobs, is nutty and would cause a depression. Paul should stop insulting the Founding Fathers by calling this constitutionalism, which it is not. Paul's view is the view of long-departed Austrian economists, not America's Founding Fathers, whose Constitution survives today.
Elizabeth Warren is right. Consumers must be protected. Jobs must be created. It will not be banks charging high interest or vultures making millions while supporting big layoffs who will create the jobs.
President Obama and Treasury Secretary Tim Geithner have not gone nearly far enough for my taste. The Federal Reserve Board should stop being intimidated by right-wing ideologues and "Hope America Fails" Republicans and should renew policies to grow the economy but do it by helping workers, small businesses and consumers, and not by more bailouts for big banks.
Beyond the damage done by Mitt Romney and Ron Paul, I hope Paul RyanPaul RyanOvernight Healthcare: Senate advances cures bill | GOP's ObamaCare lawsuit on hold Could bipartisanship rise with Trump government? Ryan delays committee assignments until 2017 MORE has learned the lesson that he has the right to his economics, and the right to his faith, but please don't hurt the poor in the name of Catholicism or any faith.
The first Mitt Romney was good. The second Mitt Romney was tolerable. The third and latest Mitt Romney is a traditional Republican economic disaster who wanted auto companies to be destroyed, criticizes housing policies that his father pioneered and would cause a new recession.
As for Ron Paul, he should give the Founding Fathers a break and stop advocating policies that would cause a depression, and doing it in the name of the Founding Fathers and the Constitution.