Rick Perry may have lost momentum in the Presidential race, but that has not stopped him from promising 2.5 million new jobs created if he is elected President. How you might ask, will Perry make good on his promise? Energy. America has always been a massive consumer of global oil, but never has it been one of the largest suppliers. Gov. Perry spurred by his experience with oil corporations in his native Texas, believes he has found a way to create more jobs and stimulate a flailing economy. Perry proposes that domestic oil and natural gas has the potential to supply the U.S. with millions of new jobs and enormous revenue. If elected to the white house, Perry vows to open federal lands to oil and natural gas exploration and expedite the necessary licensing and permit processes. As President, Perry would be able to roll back intrusive regulations and allow oil companies to start building and drilling as soon as possible. Other candidates like Romney, Bachmann, and Cain have addressed the issue of energy production as a necessary area of reform, but none have been as active and specific as Perry in their plan to incorporate energy into their economic policies. Similar to his fellow Republican candidates, Perry supports supply-side economics with minimal government interaction with the market. Perry promises to reduce corporate taxes and only dictate the conditions of the economy and not the outcomes. With public unrest swelling over President Obama’s failure to stimulate the economy and job creation, Republicans are being pressed to submit a new plan for financial recovery. While Perry’s idea of millions of new jobs from the oil industry is promising, it is unlikely to reach fruition. He is a doubtful to win the GOP nomination and on top of that, domestic oil/natural gas industries are extremely volatile. The boom-or-bust nature of the industry seems fitting for the bravado of the Texas governor, but unfortunately Perry’s economic “game changer” seems and is too good to be true.
How do you think this job plan stands up next to Romney's plan? And with that, who do you think is better publicizing their plans and promises?
ReplyDeleteI think this post exhibits just how little Perry truly understands public policy. His energy approach would hurt the country. Supply-side economics skyrocketed the debt under Reagan. I agree that his plan "is unlikely to reach fruition," even if he was elected (which I don't think will happen either).
ReplyDeleteI agree with Laura, I don't think Perry has a real grasp on what it's like to make such heavy decisions, mainly because in the state of Texas, the governor holds close to no power and is a figurehead while the vice president is the puppeteer. I think this small, unacknowledged fact explains a lot about why Perry isn't able to spout out eloquent plans for reform off the top of his head, but is able to get crowds riled up real fast.
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