Presidential Forum Live Blog

By November 1, 2011General


11:03 a.m.: NAM chair Mary Andringa: “Manufacturing means jobs!”

11:04 a.m.: Iowa Gov. Terry Branstad: Most important issue facing America is jobs.

11:06 a.m.: Hearing from America’s manufacturing workers.  Over 12 million Americans work in modern manufacturing.

11:07 a.m.: Each candidate will answer questions from moderators Tom Hudson and Governor Branstad and audience.

11:08 a.m.: Gov. Rick Perry up first.

11:08 a.m.: Perry: Texas created 1 million net new jobs with Perry as governor.

11:09 a.m.: Perry hits EPA regulations.

11:10 a.m.: Perry: People have lost confidence to take risks.

11:10 a.m.: Perry: Way to create jobs is not by overtaxing, overregulating, over-litigating.

11:11 a.m.: Perry: Federal government needs to be completely out of the energy business picking winners and losers.

11:12 a.m.: Perry: Let states decide whether to offer energy incentives.

11:13 a.m.: Let private sector and market decide winners and users.

11:14 a.m.: Energy policy: Did you manufacturers consumer one-third of the energy output in the U.S.?  Affordable and accessible energy is critical to manufacturing’s growth.

11:15 a.m.: Perry: “All of the above” energy policy.

11:17 a.m.: Perry supports Keystone pipeline.  Knows that oil will go somewhere–why not the U.S.?

11:18 a.m.: Perry: create jobs in the energy sector; develop energy safely and cleanly and put people to work.

11:19 a.m.: Skills gap.

11:20 a.m.: Perry: College costs too high.  Consider new approaches to education that can give students the skills they need and help bring down costs.

11:21 a.m.: Perry has his flat tax postcard.

11:22 a.m.: Perry will take a “wrecking ball” to the corporate tax code and personal tax code as well.

11:23 a.m.: Perry: Let’s quit penalizing Americans for making money.

11:23 a.m.: Rick Santorum up now.

11: 24 a.m.: Santorum: Manufacturing has a great multiplier effect in the economy.

11:25 a.m.: Santorum touts the promise of manufacturing jobs.  Did you know the average manufacturing earns $77,186 in pay and benefits annually?  $20,000 more than average workers in other industries.

11:26 a.m.: Santorum has read the Manufacturing Institute’s and MAPI’s new cost study: 20 percent more expensive to manufacture in the U.S.

11: 28 a.m.: Santorum: GOP president would change attitude in DC and country.

11:29 a.m.: Santorum: Phase out energy tax credits.

11:3o a.m.: Santorum: Take advantage of Marcellus Shale in his home state of Pennsylvania.

11:31 a.m.: Santorum on infrastructure: Need for a federal role–in therms of interstate commerce.  Trucks go through PA without stopping.

11:32 a.m.: Santorum on Dodd-Frank financial bill: Repeal it.  I’m against “too big too fail.”

11:34 a.m.: Santorum: Dodd-Frank hurts small banks.

11:34 a.m.: Question from audience: What would Santorum do first?  Santorum: “Repeal Obamacare.”

11:35 a.m.: Santorum: Repeal the whole thing.  Not just waivers for states.  Job No. 1.

11:36 a.m.: Repeal health law–what replaces it?

11:37 a.m.: Santorum highlights HSAs.  Get consumers involved in marketplace with regard to prices and quality…  Consumer-driven health care.

11:38 a.m.: Next up: Rep. Bachmann.

11:39 a.m.: Bachmann: We need the federal government to get off our backs with regard to taxes.

11:40 a.m.: Bachmann: Taxes, regulation, tort, energy–need good policies on all fronts.

11:40 a.m.: Bachmann: 95 percent of consumers live outside the United States.

11:41 a.m.: Bachmann: Government is a cost of doing business.

11:42 a.m.: Bachmann: Grow our market share.  U.S. only negotiating one FTA among dozens around the world.

11: 43 a.m.: Businesses going to Canada?  Canada has reduced its corporate tax rate–soon to decrease to 15 percent.

11:46 a.m.: Bachmann: Let multinationals repatriate their earnings overseas.

11:47 a.m.: Taxes and regulations big burden on manufacturers.

11:48 a.m.: Question about tax reform.  Bachmann: Simplify code.  100 percent expensing. Flatten corporate tax rate. Extend R&D credit.

11:49 a.m.: Bachmann: Businesses have no idea what is going to come out of Washington when they wake up in the morning.

11:50 a.m.: Bachmann: Need true tort reform.

11:52 a.m.: Bachmann: Manufacturing is the backbone of our economy.

11: 53 a.m.: Bachmann highlights skills gap.

11: 54 a.m.: Ron Paul is on stage.

11: 54 a.m.: Paul: Look at regulations, tax and monetary policy.

11: 56 a.m.: Paul: Don’t neglect currency.

11:56 a.m.: Paul on trade deals: Wants low tariffs, but skeptical of international arrangements.

11:57 a.m.: Paul: No tax on repatriation. Corporate tax rate at 15 percent.

11: 58 a.m.: Paul: Problem is big spending.

11:59 a.m.: Paul: Spending cut 60 percent after WWII.

11:59 a.m.: Paul: Cut $1 trillion and eliminate five departments.  Economy would boom.

Noon: Paul: Stimulus doesn’t work. Cleanse the system.  Get rid of the debt.

12:01 p.m.: Question on housing industry.

12:02 p.m.: Paul: Get rid of the bubble.

12:02 p.m.: Paul: Nothing market oriented about our interest rates.

12:04 p.m.: Paul: We’ve wrecked the economy.  Young people begging and pleading for jobs.

12:05 p.m.: Paul on Occupy Wall Street: Forgive student loans?  Paul: Loans shouldn’t be forgiven.  Need to create jobs for students.

12:06 p.m.: What would you like to hear from Bernanke tomorrow?  Paul: That he is resigning.

12:08 p.m.: Paul: Dollar still respected compared to euro, yen, but limit to how much weight you can put on dollar.

12:09 p.m.: Paul: Americans want a transparent Federal Reserve.

12:09 p.m.: And now former Speaker Gingrich.

12:10 p.m.: Gingrich: Require training as condition for unemployment benefits.

12:11 p.m.: Gingrich: Best trained workforce plus most modern equipment = win.

12: 12 p.m.: Gingrich: Economy has structural problem–the government.

12: 13 p.m.: This country has been maniacally anti-jobs.  Can’t blame job creators.

12: 14 p.m.: Gingrich’s plan for competitiveness: Repeal Dodd-Frank; repeal Sarbanes-Oxley; zero capital gains tax; eliminate double taxation of dividends; 12.5 percent corporate tax rate; optional flat tax; 100 percent expensing.

12:15 p.m.: Gingrich: Why would you want government making moral judgments about what companies should do with repatriated dollars.

12:17 p.m.: Gingrich: Very aggressively have the most open markets.

12:18 p.m.: Gingrich: Make it advantageous to sell America around the world.

12:19 p.m.: Gingrich: We don’t hire President’s to be foreign purchasing agents.  We hire them to be salesman for our country.

12:20 p.m.: Gingrich: Abolish Department of energy.  Reform Interior, BLM.

12:21 p.m.: Gingrich: Develop more domestic energy.

12:22 p.m.: Gingrich: U.S. gov important in basic research.

12:23 p.m.: Gingrich: Create an environment that promotes growth–not pick winners and losers.

12:24 p.m.: Gingrich: Fundamentally change current congressional behaviors.

12:25 p.m.: That’s all from Pella.  Thanks to Vermeer for hosting and the two moderators.

Join the discussion One Comment

  • Aly says:

    Larry, thank you for the live blog of the Manufacturing Forum! I was worried about how I was suppose to follow the debate – I should’ve known the ShopFloor wouldn’t leave me hanging.

    Thanks again for sharing! – Aly

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