Why McCain Should Pick Romney
By Stephen M. Studdert
John Nance Garner IV, the nation’s 32 nd Vice President, once described the office of the vice presidency as being “not worth a bucket of warm spit.” Unlike most past elections, this year things are different.
Throughout most of the primary season the major issues facing the next president seemed to be getting out of Iraq and how to solve growing health care problems. Not any longer. Today the country is immersed in what may well prove to be a deep and lingering economic crisis, with cracks appearing everywhere in our private and public fiscal structures.
Historically, t here is no end to the political speculation and strategic reasons why Presidential nominees decide on their Vice Presidential running mate, almost all of which are calculated to add a winning strength to the ticket. Geographical and political balance, ideology, age, race, gender, vitality, government experience, perceived electoral attractiveness, religious or moral clout, or the ability to appeal to a particular voter group are factors that weigh heavily.
Add to that the personal relationship of the nominee and the potential running mate, and even their spouses, and it becomes a very complex and complicated decision formula.
The decision for presumed Republican nominee John McCain should be simple, obvious, and outweigh politics as usual. I would propose that the most important factor should be overcoming McCain’s admitted weakness on economic issues by enlisting an able partner to the team.
For six reasons the person who makes the most sense for America and for the Republican ticket is former presidential candidate Mitt Romney.
First, Romney’s demonstrated strength of financial leadership is unequalled amongst oft-named possible running mates – in either major party. The slogan of the 1992 Clinton campaign, “It’s the economy, stupid,” will again be a foremost determinant how voters will decide this November.
America is in the early stages of what may well become a financial calamity of unprecedented magnitude and long-reaching repercussions. The dollar has fallen to record lows against the Euro, gold has soared to record highs above $1,000 per ounce for the first time in history, oil now tops $110 per barrel, and retail sales are plummeting.
In many American cities, home prices have fallen nearly 20% in just one year. Foreclosure rates are at historic highs and accelerating. In some cities abandoned homes now number in the tens of thousands. The so-called sub-prime mortgage finance crisis is just beginning to unravel.
Collateralized debt obligations of all kinds show dangerous signs of severe weakness, Americans have more than $2.3 trillion in consumer debt, and every indication is the worst is yet ahead. Just this week Bear Stearns, the nation’s fifth largest investment bank, narrowly averted bankruptcy, and banking experts are predicting bank failures.
As an admirably successful business executive, governor, and leader of an imperiled Olympics, Romney revealed his dazzling ability at financial transformation. To entrust something as generationally significant as fixing our national economic mess to lesser talent is just not smart.
Second, Romney understands the compelling need for prudent government fiscal behavior. Today, federal spending is out of control, gigantic entitlements including Social Security and Medicare remain massively under-funded, and Iraq-Afghanistan War costs are now expected to exceed an unbudgeted $3 trillion. Unrestrained debt spending is financed by a voracious demand for foreign capital as federal financial obligations to unfriendly governments are mushrooming.
Third, Romney grasps the subtle intricacies between public policy and its hidden costs. The implications of unmanaged immigration, the mounting radical Islamic fundamentalism and unprecedented terror threats against America, and our unquenchable oil dependency on unstable nations – each endangers our national economy.
Fourth, Romney has a proven ability to achieve collaborative bipartisan progress. Washington today is gridlocked in endless partisan discord across entrenched political divides , crippling any sense of unity or harmony.
As governor of a state where legislative accomplishments were dependent on cross-aisle accord, Romney was repeatedly tested and proved that cooperative results are possible when civic decency, duty, and the public good are placed ahead of personal political gain.
Fifth, Romney not only emanates competence and dynamism, and comfort with himself, but he has the necessary personal vitality and vigorous good health. He is a comparatively youthful and is equipped to succeed the president.
Sixth, Romney’s values are good for America. A candidate of character and principle to whom personal morality does matter, he has proven himself acceptable to social conservatives on moral issues, revitalized the Founder’s belief that in America liberty is inseparably bonded to religious faith, and reminded us by example that the family is the fundamental cornerstone of civilization.