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PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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Romney’s Closing Argument “I will bankrupt the US too”

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- Tom Winnifrith

Tonight was the first Presidential debate in the US. “Hopey change” Obama versus “Don’t ask my horse about its tax rebate” Romney. It seems clear that Romney won. Will that change the result on 6th November? I doubt it. I am still calling it for Obama by a clear margin. Most of the debate was so dull that only political anoraks will have stayed awake until the end.

But the closing line from Mitt really defines what an appalling choice America faces.

You will have noted the comments made earlier today by Bill Gross of Pimco on how at current rates the USA will have Greek style finances by 2010. It is going bust. If you missed it, his comments and my take is HERE.

I think we might all agree that tax, borrow and spend and then borrow some more Hopey Change will do nothing to stop the slide into bankruptcy. But what about Romney? Oh dear. His closing line “ I will not cut spending on the Military of Medicare” Oh. Given the vast cost of these two items if Mitt increases spending on them – as he is pledged to do – the chances of him making the overall budget cuts Gross says are needed are pretty much zero.

So America has a choice. The guy who will Greecify the country at the current rate or the guy who will take a bit longer to achieve the same result.

Goodnight America. Note to rest of world: don’t sell your gold.

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