Republican vice presidential nominee Mike Pence took on Obama’s economic policies and why he sees a Trump Administration boosting growth of the U.S. economy and the job market.
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Pence weighed in on the key factors under the Obama Administration he sees as stifling U.S. economic growth.
“The avalanche of regulations, higher taxes, Obamacare, the war on coal has been crushing the vitality out of this economy and we’ve seen the results. I mean we have the slowest economic recovery since the Great Depression,” Pence told the FOX Business Network’s Maria Bartiromo.
On the other hand, Pence suggested under a President Trump, U.S. manufacturing would rebound.
“I have every confidence you’re going to see manufacturing come roaring back in America and we’re going to make America a more hospitable place to make cars and build things, but we’re also going to have smarter and tougher trade deals that will cause American companies to think twice about making the kind of decisions that Ford (NYSE:F) announced yesterday.”
Pence explained why, along with tax and trade reform, he sees reigning in regulations as a top priority of a potential Trump Administration.
“When Carrier announced that they were pulling up stakes and taking 1,400 jobs from the state of Indiana earlier this year, I had the folks in my office that run that company and they told me that part of it was that all of their competitors were already in Mexico,” Pence continued, “But the other part they said was that avalanche of regulations, the Department of Energy. In their business alone Maria, there were 50 new rules in the last two years, rules come out about the size of a phone book for a company.”
Pence then weighed in on why he sees Obamacare as one of the worst regulations for jobs.
“On the small business level Maria, Obamacare is a job killer. I’ve lost count of the number of small business owners in the state of Indiana, and as I’ve traveled around this country as a candidate for vice president, who have told me they will not hire that 50th employee, they stop at 49, and that’s to avoid the additional strictures that come under Obamacare.”
But Pence said a President Trump would repeal Obamacare.
“We’re going to repeal Obamacare in its entirety, we’re going to bring forward the kind of health care reform Donald Trump will describe in the weeks ahead that will build on free market principles and on allowing states to innovate and reform Medicaid that we started to do in Indiana.”
Pence outlined why he sees trade reform as a necessity as well.
“We support free trade, we understand that exports support jobs in the United States, imports lower the cost of goods for the American people, we recognize all that. But the simple truth is that 20 years on into NAFTA, it’s been a much bigger winner for our neighbors to the south than it’s been for the American worker.”