Tim Pawlenty forms an economic plan, cites 5 percent growth as "aspirational"

by Adam Russett on June 8, 2011

Former Governor of Minnesota and Republican Presidential candidate Tim Pawlenty recently went to the University of Chicago to show his stripes by announcing a plan that would tackle the country's current problems while promoting a steady rise in economic growth. 

His main initiatives appear to be in line with the rest of the Republican policies – Pawlenty has called for tax cuts and deregulation. At the school, he said that he hoped his policies, if implemented, could lead to 5 percent economic growth within a year.

While he sounded certain about the figures, explaining that 5 percent wasn't just a "pie-in-the-sky" number, some economists have questioned how realistic Pawlenty's estimates could be – most put the economy's growth at 2 or 3 percent tops, according to Reuters.

Pawlenty backpedaled slightly in an interview with CNBC, calling the figure "aspirational." Regardless, it could appeal to many party loyalists who believe that the only way to jumpstart the stagnant economy is to focus on the deficit and cut spending.

"This is what [Republicans] believe in their hearts, in their heads and in their guts," William Galston, a senior fellow at the Brookings Institution think-tank and a former adviser to Democratic President Bill Clinton, told Reuters. "So why shouldn't Pawlenty get out there aggressively with a program that tells people that, as president, he will do exactly what they believe ought to be done?"

Pawlenty is just one of the Republican hopefuls seeking the Presidency in 2012. Rick Santorum, Mitt Romney and Newt Gingrich have also announced their candidacy in the primaries, but none seem to have any clear advantage over another. Many Tea Partiers – as well as Republicans – have their eye on Sarah Palin, who they hope will run for President.

Previous post:

Next post: