No Apology, by Gov. Mitt Romney (R, MA): on Budget & Economy

Mitt Romney: Our lack of vision led to financial collapse & loss of $12T

Our own lack of vision led to the collapse of our financial markets and our economy. It precipitated a global recession, triggered the loss of $12 trillion of our citizens' net worth, and dealt a sharp blow to world freedom. We simply did not see that so-called subprime home mortgages, liar loans, and nonqualified loans had the potential to cause such destruction.

There may be a dangerous strain of self-interest among the citizenry in democracies as well. If citizens in a democracy foster short-term self-interest rather than promoting the long-term interest of the nation--placing themselves above their descendants--there is little likelihood that they will vote for visionary transformative leaders who advocate difficult change and sacrifice.

Mitt Romney: Strong economy makes superior defense AND citizen prosperity

As virtually every American discovered beginning in fall of 2008, a strong economy is also the foundation of our citizens' prosperity: Americans have experienced the impact of a weakened economy. But beyond the lows of recession and the highs of expansion, the sustained wealth of our families and communities is also driven by workforce productivity.

Whether you are interested in spending more on benefits or you want to add to defense, achieving your objectives depends on the nation's productivity.

Mitt Romney: US didn't bail out Wall St.; we prevented financial failure

But Secretary Paulson's proposal was not aimed at saving sick Wall Street banks or even at preserving jobs on Wall Street. It was intended to prevent a run on virtually every bank and financial institution in the country. It did in fact keep our economy from total meltdown.