GOP Race Heats Up

Despite the departure of Tim Pawlenty, the GOP race is heating up. Over the weekend, Tim Pawlenty dropped out, Rick Perry dropped in, and Michelle Bachmann won the Iowa straw poll. Meanwhile, Obama is touring the midwest.

What's this all mean?

Questions.

Let's start with Rick Perry. First, fact checking his speech:

On a blended basis, we would rate this as a Two Pinocchio speech, similar to many of the other announcement speeches — a mishmash of high-flying rhetoric and facts sometimes tethered uncertainly to the truth. We look forward to rating more of the governor’s statements in the future.

There's some interesting stuff about his claims that low-taxes leading to the success he has had in Texas, including:

Texas, as a state rich in oil and national gas, has also benefited from increases in energy prices that have slowed the economy elsewhere in the country. Higher energy prices have meant more jobs in Texas. Though Perry proudly claims the job growth is the result of a low-tax, anti-regulatory environment, others have pointed to a big investment in education in the 1980s that, yes, was the result of a tax increase.

So let's address this point by point.

How does Texas's economy differ from the American economy:

“Because the Texas economy has been prosperous during his tenure as governor, he has not had to make the draconian choices that one would have to make in the White House,” said Bryan W. Brown, chairman of the Rice University economics department and a critic of Mr. Perry’s economic record. “We have no idea how he would perform when he has to make calls for the entire country.”

It's easy to govern when things are going well. Obama inherited a nation underwater and has had to balance his campaign promises with balance to keep the country afloat. Perry's record in Texas might contrast with the needs of the nation:

“The Texas model can’t be the blueprint for the United States to successfully compete in the 21st century economy, where you need a well-educated work force,” said Dick Lavine, senior fiscal analyst at the Center for Public Policy Priorities, an Austin-based liberal research group.

In Texas, Perry has been questioned by democrats for:

And if Mr. Perry were to win the Republican nomination, he would face critics, among them Democrats, who have long complained that the state’s economic health has come at a steep a price: a long-term hollowing out of the state’s prospects because of deep cuts to education spending, low rates of investment in research and development, and a disparity in the job market that confines many blacks and Hispanics to minimum-wage jobs without health insurance.

This does not sound like a recipe for growth.

On a national stage, this could be a huge issue. Education is probably the second largest point of debate coming into the 2012 election. As someone that is hellbent on improving America's future, this does not bode well for Perry. Considering that education is one of the things that has faced the most cuts over the last few years, and clearly, education has started to fall behind:
I'm a staunch believer in one of the few things that government should invest in is education. However, like all forms of government, you have to make sure it is running efficiently, and that is done through incentives. Massachusetts, probably the most liberal state in the union, understands this:

In Massachusetts, Mitchell Chester, state education commissioner of Massachusetts, said his state, which also posts higher than average scores on the national exam, created a plan to "aim high, make sure results count" by holding schools accountable for results and targeting support to help them succeed.

Seems a little bit off topic, but if we're going to make cuts, I expect education to be one of the victims, and without, a economy high in human capital, we're going to continue to struggle. All of these candidates want to lower taxes, and with the budget concerns, we're going to need to make cuts. It'll be interesting to see how these candidates outline their plans. For Rick Perry, you can't ignore the fact that an investment in education played a role in his success as governor, but that his cuts in education will inevitably be a drag in the future. Perry has benefited from rising oil prices, which is integral to the Texas economy. In a more complex national economy, he might struggle to have the same degree of success.

Furthermore, there are questions about whether Perry can win the middle:

The concern for Republicans, however, lies with those swing voters in the middle. Among independent voters, a slight majority of 50% said government should do more, while 44% said it should do less.

I find this very interesting, considering how many people have been critical of Obama. You have to wonder how polarizing an issue this is. It seems like government is taking adaptive measures, while people might want them to do less or more in regards to spending and taxes.

There are still a lot of questions regarding Perry's candidacy, but there's a belief that he can overtake Bachmann:

Logic says that Perry will eclipse Bachmann in Iowa because he’s as conservative but with the bonus of extensive executive experience. As a fiscal and social conservative who’s an evangelical with a background in agriculture, Perry seems a natural fit for the state.

The question is whether he can make the same connection with the voters that Bachmann seems to have done. Bachmann lacks executive experience and while she has won over a lot of supporters, I think her executive experience is going to be crucial in determining her fate. In many ways, she could be the conservative Obama. In the same way that liberals aren't happy with Obama, conservatives might not be happy with Bachmann.

Bachmann has to prove to conservatives she is not (did they steal my headline?):

Americans are already living with the consequences of electing a President who sounded good but had achieved little as a legislator and had no executive experience. Mrs. Bachmann will have to persuade voters she isn't the conservative version of Mr. Obama.

I don't believe she will. To me, she's a political chameleon, always painting herself in a way that will appeal to her desired constituency:

More substantively, her attempt to position herself at all times as the anti-establishment outsider has made her seem on occasion less principled than opportunistic. She quickly distanced herself from Paul Ryan's Medicare reform when it came under liberal fire, even as she purports to be the scourge of uncontrolled spending. Her recent opposition to the debt-ceiling deal on grounds that GOP leaders should have insisted on first passing a balanced budget amendment, while holding only the House, was a political fantasy.

She seems misguided and her candidacy for President of the United States of America seems like a political fantasy.

For the time being, she's up there with the top dogs, so let's not count her out yet. She's going to play a part in the race, stealing votes from the other two top dogs. I just don't think she can beat two candidates with executive experience. That's a big deal in this race.

My top dog in this race is Mitt Romney. I just worry about his electability. While religion is not an issue with me, it is with evangelical conservatives. Furthermore, I don't think he asserts himself well enough. A big thing he's going to have to do is differentiate himself from other candidates:

“I think understanding how the economy works by having worked in the real economy is finally essential for the White House, and I hope people recognize that,” Romney told reporters after touring and addressing employees at a small manufacturer.

“I respect the other people in this race, but I think the only other person that has that kind of extensive private sector experience, besides me, in the Republican race is Herman Cain. And I respect Herman Cain, but I also think it’s helpful to have had that government experience that I’ve had,” said Romney.

He has to be assertive. He has been riding too high on his qualifications. He has to make an earnest effort to reach out to the voters and take a stronger stance defending his record and his beliefs. People have questions about him regarding the policies that were passed when he was governor of Massachusetts and about his religion. He needs to defend these stronger. You have to convince conservatives that you have strong socially conservative beliefs.

The best candidate does not always win the nomination. Often times, it's about the best campaign. The best candidate, for me, is Mitt Romney. As of now, it appears Bachmann and Perry are running better campaigns. It will be interesting to see how things unravel as things develop.