Economists Reluctantly Pick Romney

Before you go, we thought you'd like these...
Before you go close icon
Economists Reluctantly Pick RomneyBy Chris Isidore

Economists think Republican presidential candidate Mitt Romney would be better for the economy than President Obama. But they're not very enthusiastic about either of them.

Nine of 17 top economists surveyed by CNNMoney picked Romney when asked whose election would help the economy grow more. Only three picked Obama.

But the remaining five made no pick, with several suggesting neither would provide much of a lift to the sagging economy.

"Obama doesn't really understand business and Romney doesn't really understand how to govern. So pick your poison," said Gary Rosenberger of EconoPlay, one of those surveyed who refused to give a pick.

And many of those picking Romney were more critical of, as opposed to excited about, the Republican challenger's plans.

Sponsored Links
"Romney's policies would likely be less bad for the economy than Obama's," said Bill Watkins, executive director of the Center for Economic Research and Forecasting at Cal Lutheran University.

Several of the economists who thought Romney would be better for the economy pointed out what they thought were flaws in Obama's record. These economists felt there is too much regulatory uncertainty hanging over businesses and that gridlock between the White House and Republicans in Congress also is a drag on hiring and growth.

"Romney might be more likely to get Congress to do something, whereas Obama has shown he can't," said David Wyss, a fellow at Brown University.

Allen Sinai of Decision Economics gave the Republican challenger the most enthusiastic support of those surveyed, saying Romney's calls for "cutting growth of government outlays, lowering tax rates and closing loopholes, less regulatory uncertainty ... smaller government and entitlement reform all must be tackled."

But those who picked Obama are hoping things will be different if the president wins a second term. Obama could be in a better position to enact reforms on entitlement spending and reach a deal on deficit reduction than Romney, according to one economist.

"It's the Nixon-to-China syndrome -- only a Democrat can get away with it," said Bill Cheney, chief economist at Manulife Asset Management. M

More from CNNMoney:

Read Full Story

Markets

S&P 500 2,388.77 1.32 0.06%
DJIA 20,981.33 6.24 0.03%
NASDAQ 6,048.94 23.71 0.39%
DAX 12,443.79 -29.01 -0.23%
NIKKEI 225 19,251.87 -37.56 -0.19%
HANG SENG 24,698.48 120.05 0.49%
USD (per EUR) 1.09 0.00 -0.41%
USD (per CHF) 0.99 0.00 0.15%
JPY (per USD) 111.22 0.03 0.03%
GBP (per USD) 1.29 0.01 0.39%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

A Special Ed Teacher Had All of Her Students in Her Wedding, and the Pictures are A Special Ed Teacher Had All of Her Students in Her Wedding, and the Pictures are
Guest Decides To Test The Hotel's Housekeeping - Then Returns To Find This On His Bed Guest Decides To Test The Hotel's Housekeeping - Then Returns To Find This On His Bed
Rescuer Sees Bumps All Over This Dog's Skin - Then X-Rays Reveal The Tragic Story Rescuer Sees Bumps All Over This Dog's Skin - Then X-Rays Reveal The Tragic Story