Romney Campaign Press Release - Santonomics 101: Economics for Lightweights

"For all those who still had questions, Rick Santorum has now provided a textbook example of what an economic lightweight looks like." —Gail Gitcho, Romney Communications Director

Lecture One — The Economy Isn't The Real Issue In This Year's Election:

Santorum: "The Issue In This Race Is Not The Economy." "On Monday morning, as Santorum kicked off a full day of campaigning in Illinois, where he trails Mitt Romney in the polls, Santorum gave critics of his messaging more ammunition. 'The issue in this race is not the economy,' he said." (Jon Ward, "Rick Santorum: 'The Issue In This Race Is Not The Economy'," The Huffington Post, 3/19/12)

The Wall Street Journal: "Mr. Santorum Often Gives The Impression That He Views The Economy As A Secondary Issue..." (Editorial, "Where's The Rest Of Them?" The Wall Street Journal, 2/9/12)

Lecture Two — The Unemployment Rate Doesn't Really Matter:

Santorum: "I Don't Care What The Unemployment Rate's Going To Be. Doesn't Matter To Me." "Rick Santorum is coming under fire for saying that the unemployment rate and economic growth are secondary issues to that of freedom in his campaign ... [Santorum:] 'I don't care what the unemployment rate's going to be. Doesn't matter to me. My campaign doesn't hinge on unemployment rates and growth rates. It's something more foundational that's going on.'" (Rebecca Kaplan, "Santorum: 'I Don't Care What the Unemployment Rate's Going to Be,'" National Journal, 3/19/12)

Lecture Three — Concerns About Budget Deficits And The National Debt Are Overrated:

Santorum: "I Came To The House As A Real Deficit Hawk, But I Am No Longer A Deficit Hawk ... I'll Tell You Why. I Had To Spend The Surpluses." "Confronted with projected deficits until fiscal 2007, senior GOP lawmakers are backing away from long-standing rhetoric about the government's duty to live within its means. 'I came to the House as a real deficit hawk, but I am no longer a deficit hawk,' said Sen. Rick Santorum (R-Pa.). 'I'll tell you why. I had to spend the surpluses. Deficits make it easier to say no.'" (Hans Nichols, "Leadership Lines Up With Deficit Doves," The Hill, 2/5/03)

"Santorum Acknowledged Voting To Raise The Federal Debt Ceiling At Least Five Times While In Congress." (Charles Babington, "Gingrich Defends His Attacks," The Associated Press, 1/15/12)

Lecture Four — More Government Intervention In The Economy Is What's Needed:

Bloomberg: "Santorum Says He Doesn't Believe The U.S. Government Should Pick The Economy's 'Winners And Losers.' Except For Manufacturers. And Small Businesses. And Families." (David J. Lynch, "Santorum Picks Own 'Winners And Losers' Even As He Chides Obama," Bloomberg, 2/17/12)

The Wall Street Journal's Kimberly Strassel: The Heart Of Santorum's Plan Is "A Bullet Point ... Mr. Obama Largely Agrees With." "A manufacturing tax credit isn't a campaign theme; it's a bullet point (and one, for the record, Mr. Obama largely agrees with). The opportunity for contrast is in a sharp economic message that directly challenges Democrats on class warfare, taxes and size of government." (Kimberly Strassel, "Is Santorum A Contender?" The Wall Street Journal, 2/9/12)

The Washington Post's Jennifer Rubin: "Just Like Obama, [Santorum] Thinks He Knows Best Where Investment Dollars Should Go." (Jennifer Rubin, "Not Only The Rates Matter," The Washington Post, 2/22/12)

The Wall Street Journal, On Santorum's Plan: "Watch Mr. Obama Have Fun With That One." "A similar [to Obama's] tax favoritism affects Mr. Santorum's proposal to cut the corporate tax rate in half (to 17.5%) for most companies but make it zero for manufacturers. Mr. Santorum recently defended this form of industrial policy by saying that Wal-Mart (his example) didn't warrant a zero rate because it didn't send jobs overseas. So any company that threatens to move jobs overseas should get a lower rate than a company that keeps jobs in the U.S.? Watch Mr. Obama have fun with that one. A better economic strategy would be to confer the lowest possible tax rate on all U.S. corporations, including the 89% of economic activity in America that isn't manufacturing." ("Rick Santorum's Economy," The Wall Street Journal, 1/9/12)

Lecture Five — Conservative Reaction To Lecture Four:

The Heritage Foundation's Curtis Dubay: "This Is Not Free-Market Economics." "This is not free-market economics, this is trying to tilt the market toward manufacturing, and it will hurt the economy rather than help it, because resources would be artificially diverted from other sectors of the economy to manufacturing." (Dan Hirschhorn, "Rick Loses Market Value," The Daily, 2/17/12)

Tax Foundation's Will McBride: "[Santorum's Plan] May Be The Worst Idea Of Any Of The Republican Candidates. ... No Other Candidate Has Proposed Such A Grossly Unfair System." (Bernie Becker, "Some Conservatives See Santorum's Tax Plan As 'Welfare In Disguise'," The Hill, 1/7/12)

Club For Growth's Andy Roth: Santorum's Plan Is "Bad Tax Policy." "Andy Roth from Club for Growth calls the manufacturing-favoritism 'bad tax policy.' He tells me that it suggests Santorum believes that 'government should be limited except when he is in charge.'" (Jennifer Rubin, "Santorum's Problem Isn't 'Insiderism,' It's Economic Literacy," The Washington Post, 2/14/12)

AEI's Kevin Hassett: "[Santorum's Plan] Is Just The Height Of Economic Illiteracy. It's Inexcusable.'" (Dan Hirschhorn, "Rick Loses Market Value," The Daily, 2/17/12)