Glenn Hubbard

We pursued the wrong policies. George Bush is not on the ballot. Bill Clinton is not on the ballot. Mitt Romney is on the ballot, and Barack Obama is on the ballot. And Mitt Romney is proposing tax reform, regulatory reform, a wise budget strategy and trade. The president has proposed tax increases.

What Governor Romney is proposing is an across-the-board cut in marginal tax rates for households, every household in America by 20 percent. And we'll have to broaden the base to pay for that. Also, a very deep cut in the corporate rate.

An independent state does not pay too dear a price for its independence in accepting the sufferings of war when it cannot avoid them; a state which has lost its independence may find at least some compensation in the fact that its protector procures for it peace with its neighbours.