Republican presidential contender Mitt Romney stepped up his criticism of President Obama’s economic record Friday, going beyond the normal rhetoric that the current administration has stifled job growth and insisting it has also killed innovation.
The former Massachusetts governor, appearing before a business group in Northern Virginia, said government should provide incentives for the private sector to enter new markets and change the tax structure to “encourage people to take risks.”
Romney ripped what he called the Obama model, which is to give money to hand-picked companies pursuing administration approved-projects instead of letting the free market choose winners.
Giving large sums to one company, like the $500 million loan provided to the now-bankrupt Solyndra, discourages competitors from entering the field and stalls innovation, Romney said.
“If America is to remain the strongest nation on earth, it must remain the most innovative nation on earth,” Romney said.
`The on-again, off-again frontrunner Romney, a former venture capitalist, spoke comfortably in front of Friday morning’s crowd of technology business leaders and venture capitalists at the Northern Virginia Technology Council. The group previously hosted former presidential candidate Herman Cain. It extended invitations to Obama and the rest of the GOP field.
Romney attempted explain away past missteps — insisting that taking care of the homeless population was “one of our vital services.” He at times appeared to mimic the strategies of former House Speaker and Republican rival Newt Gingrich by rattling off books and providing history lessons for the audience.
He even mentioned space research, along with the military and health care, as an area where government investments can pay off for the private sector.
“Government investment in basic science and research, which can be shared by all, that encourages innovation,” Romney said.
But for the most part, Romney’s competitors were ignored in his 30-minute comments and ensuing Q and A with the audience. Instead, he pitched an agenda focused on shifting government support of business to tax credits, a lower corporate-income tax rate of 25 percent and smaller federal government that scales back regulation.
“Is government a player guiding the economy,” Romney asked, “or is government a facilitator encouraging free people to pursue their dreams?”
