June 1st, 2012
01:54 PM ET

Hubbard: Romney a 'practical problem-solver'

All this on "Fareed Zakaria GPS" Sunday at 10 a.m. and 1 p.m. ET.

On "Fareed Zakaria GPS" this week: Fawaz Gerges on the way forward in Syria; why China thinks the U.S. has a human rights problem; and Harvard’s Michael Porter, the most-cited man in business, on how America has dropped the ball on competitiveness.

Also: What are Mitt Romney's plans for the U.S. economy? Fareed speaks to Romney's senior economic adviser and the dean of Columbia Business School, Glenn Hubbard.

Romney is a practical problem-solver, says Hubbard. "I think the issue for him is, how do you raise economic growth in the country and how do you make it more inclusive?" he tells Fareed. "And once you raise those questions, he's interested in practical solutions, not theoretical solutions."

Watch more in the video above and from this show clip.

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Topics: 2012 Election • GPS Show • Politics

soundoff (28 Responses)
  1. GOPisGreedOverPeople

    The GOP solution: Start a war with Syria, Iran, (insert country here) totally unfunded of course. The get the poor people to fight/die in the war while giving the rich people "no bid contracts". Thus killing two GOP birds with one stone. Then use that country's oil to pay for the war. And when the war is over, that country will sell us cheap oil!!!!!!! Just like in Iraq!!!!!!!!! Problem Solved!!!!!!! Mission Accomplished!!!!!!!!! Oh wait............never mind.

    June 1, 2012 at 1:58 pm | Reply
    • BO is nutz

      Dem solution is to double the debt AGAIN.

      June 2, 2012 at 12:20 pm | Reply
      • Steve

        A common lie. Under Obama the debt only rose 50% (check it out before spouting fiction). Reagan quadrupled the debt, Clinton gave us a large surplus, which GW transformed into zero and then left Obama with a huge debt.

        June 2, 2012 at 8:04 pm |
      • Keith

        WRONG again, Ronald Reagan doubled the debt, NOT ONE republican objected. Clinton reduced the debt NOT ONE republican said THANK YOU. George Bush the weak kneed doubled the debt, not to mention he started TWO WARS, NOT ONE republican objected.
        Due to the criminal incompetence of the Republican presidents, Obama was faced with the worst financial disaster in the nations history and has tried valiantly to rescue us, EVERY SINGLE REPUBLICAN has at last OBJECTED.
        Do you see a pattern here.
        BEFORE MAKING ANY COMMENTS HERE GET YOUR FACTS RIGHT.

        June 3, 2012 at 4:44 am |
      • leftyaaron

        50% is correct. 10 trillion was the debt when Obama took office, 15 trillion is where it is now. That is not doubling, sorry about your math, Bo. Additionally, 2 to 3 trillion was already spoken for and left over from the Bush Administration from the unpaid for wars and tax cuts to the rich. These were not Obama's policies, but he gets burdened with that increased debt. I realize truths and honesty are hard to deal with when they don't defend your biases, Bo. But if you're a truthful and honest man, well then you should stop listening to those (Fox, Limbaugh, etc) who are only interested in keeping you ignorant.

        June 3, 2012 at 2:23 pm |
  2. j. von hettlingen

    If I were Obama und won the re-election in November, I would take a couple of Romney's advisors like Robert Zoellick on board. They shouldn't hesitate to serve their country no matter whoever becomes president.

    June 1, 2012 at 4:09 pm | Reply
  3. Matt A.

    I think the economy hits the critical points long before Romey has a chance to engage.

    June 1, 2012 at 10:20 pm | Reply
    • Patrick

      When one door closes, another opens.

      June 2, 2012 at 1:07 pm | Reply
  4. 2020

    Nonetheless, so far I haven't heard him saying anything practical nor demonstrates himself as a problem solver. He continues to ignore facts just throwing out words to create problem. I don't know what this Glenn Hubbard talkiing about. May be he meant Romney a problem solver inside a classroom in those paper pet project. In real life, he solves his own problem, makes and hide his millions, and busy stuffing it offshore. That is where he belongs, one of those no man island.

    June 2, 2012 at 1:43 am | Reply
  5. BO is nutz

    Fourty three prior presidents created 8 trillion in debt over 200 years. Barry created an additional 5 trillion in just 3 years. Change and hope in November.

    June 2, 2012 at 12:23 pm | Reply
    • newgoldie

      sorry bo is nutz opinion and facts are2 different things
      fact
      this is what admins. debt when in office
      carter 900 billon in debt 42% raise
      regan 2.7 trillion in debt 189% raise
      bush 4.1 trillion 55% raise
      clinton 5.6 trillion 36% raise
      bush 10.7 trillion 89% raise ( plus bush didn't add the wars 857 billion to the debt, obama did his first year)
      obama 15 trillion 41%
      so to say presidents of 200 years only ran up 8 trillion is pretty crazy ,, i say shame on all these presidents that let this contune to happen
      and then blame it on the other guy!! to me that's gutless
      we talk about regan and clinton as these great leaders... really? leaders dont leave us in debt!!!

      June 2, 2012 at 1:57 pm | Reply
  6. newgoldie

    ok he said Romney is a problem solver?
    and his ideas on the budget, taxes, reg, financial reform, is the practical solutions?

    really? cause just like the dems. solutions..the CBO & many economists say that both sides solutions
    won't work ,,, plus we have already had both Romney(no different than bush except china would pay even more of our debt) and Obama solutions AND THEY DO NOT WORK!

    the solution is in the middle callled " simpson bowles"

    and the one thing neither side is talking about is the structural damage from the recession,,6 trillion lost in housing , 30 trillion lost in wall street 39 trillion lost in the world econ. in one day 9-28-2008 stock market lost 776 points ,, the cost? 1.2 trillion net value lost ONE DAY!!... the trade imbalance is hurting us . plus another thing faree brought up 2 years ago is computerization and automation is draining our work force more than anything,, so getting government fixed is not going to solve the problems(it didn't cause the recession , we did, they just watched) , and as long as Mr Romney and pres. Obama say away from THAT PROBLEM , our problems will not be solved

    June 2, 2012 at 1:29 pm | Reply
  7. Andrew

    Yeah, as long as you think social programs and not the bloated Defense Budget are the problem, yeah, Romney's the problem solver. Granny will starve to death, problem solved. I can't believe how many witless fascists live in the U.S.. Ffs.

    June 2, 2012 at 10:08 pm | Reply
  8. Jack Heinsius

    Hubbard ought to be the Dean of the Tap Dancing Dept. at Columbia. His"policies" and recommendations are Obama lite. More Romney me too ism disguised as a new path to the future. Oh, and I'd be interested in how you give economic advice to a politician and not have it also be political advice. The Repubs. are offering nothing more than someone with a better haircut and insurance that those snouts get deeper into the trough.
    Great show as always, jack

    June 3, 2012 at 10:43 am | Reply
  9. George Sam Lishchuk

    It is hard to believe that GS is the dean of any business school, let alone Columbia Business School. Listening to him speak made me wonder if I missed something in under grad business school. He presented a number of ideas, however they just did not sense. What I got from the interview is that the economic direction of the Romney camp is to say whatever it takes to get elected without taking a firm stand.

    June 3, 2012 at 1:02 pm | Reply
  10. Var Enyo

    Fareed must have promised not to ask any hard questions. He never asked him how they plan on growing jobs. The only things they have ever nailed down Romney on is that he wants increase military spending by 25%, end the current medicare system by going to vouchers(good luck finding coverage granny), cut taxes for the wealthy(again), more vouchers for students to attend private schools, and end Planned Parenthood. And meanwhile, the second solar company Romney 'helped' has declared bankruptcy.

    June 3, 2012 at 1:41 pm | Reply
  11. 1zb1

    Fareed, it took a while to draw it out of Hubbard given he did everything he could not to avoid giving a real answer to anything – pretty much just like Romney – but what you finally did show was Romney is an "Emperor without Clothes". He has no real plan. Indeed by what Hubbeard says he's not going to do anything much about deficits for years to come. What's his plan: cut taxes for the wealthy, cut regulation, and magically the economy will get better and that's really his plan, and over the long term to cut benefits of every kind for everybody else from education to healthcare, to infrastructure and research. It didn't work for Regan whose tax cuts sent deficits skyrocketing, and it didn't work for Bush who left the country on the brink of disaster.

    Just as embarrassing, was his double talk on healthcare. To tell you the truth I feel like the so called legitimate news – and you are among the best – seems to have this compulsion to give equal time to intelligent design andd evolution (figuratively speaking. At some point if you don't take a stand the world we will be living in is going to start looking a lot more like the dark ages then the age of reason. Please. the future is depending on you.

    June 3, 2012 at 1:47 pm | Reply
  12. 1zb1

    CORECTION Fareed, it took a while to draw it out of Hubbard given he did everything he could to avoid giving a real answer to anything – pretty much just like Romney – but what you finally did show was Romney is an "Emperor without Clothes". He has no real plan. Indeed by what Hubbeard says he's not going to do anything much about deficits for years to come. What's his plan: cut taxes for the wealthy, cut regulation, and magically the economy will get better and that's really his plan, and over the long term to cut benefits of every kind for everybody else from education to healthcare, to infrastructure and research. It didn't work for Regan whose tax cuts sent deficits skyrocketing, and it didn't work for Bush who left the country on the brink of disaster.

    Just as embarrassing, was his double talk on healthcare. To tell you the truth I feel like the so called legitimate news – and you are among the best – seems to have this compulsion to give equal time to intelligent design andd evolution (figuratively speaking. At some point if you don't take a stand the world we will be living in is going to start looking a lot more like the dark ages then the age of reason. Please. the future is depending on you.

    June 3, 2012 at 1:49 pm | Reply
  13. leftyaaron

    Romney economic advisor, Glenn Hubbard = hollow BS artist. Fareed pointed out Romney's health care system in MA was the same as Obama's now is nationally ... "Was it successful or not?" ... Fareed asked, Hubbard danced. Fareed then asked a very straight-forward question ... "What is the central focus of the Romney economic plan?" Hubbard then gave a very broad and blanket answer ... "economic growth" and "jobs". Well, duh! Is "economic growth" or "jobs" anything that any other president will say he/she doesn't want to create? Again, Glenn Hubbard (and therefore Romney) have absolutely no plan (that they'd like us to know, anyway) and at this point are nothing but hollow BS artists! ... likely only interested in the American people faulting Obama, while not questioning what they would do differently than Bush. Romney, his team (Hubbard), and all the Republicans being led by the nose by the tea party, are a bunch of jokes!

    June 3, 2012 at 1:59 pm | Reply
  14. Eugene Patrick Devany

    If Mr. Romney can convince the American people that, “all options were on the table when it comes to tax reform” and that the, “bulk of the adjustment [will] be borne by upper income households” he will be our next President. Mr. Hubbard has outlined sensible goals for short term (FY 2016) taxes of 18% to 19% of GDP with spending at no more than 20% of GDP [and presumably a balanced budget in his second term]. The Tea Party can always vote for the other guy (lol) if they think Mr. Romney will not move fast enough in balancing the budget.

    The use of the term “affluent seniors” in discussing limits on social security and Medicare is a palatable approach to this politically difficult problem. Given the retired status of seniors it is also clear that net wealth or a combination of net wealth and income would be a better means test of “affluence” for purposes of program benefit reductions. Indeed, net wealth is also a better measure of ability to pay taxes for the investment class who do not have earned income and who lawfully delay capital gains taxes for many years. It is also clear that net wealth is the nuclear option in tax reform (i.e. powerful [$54 trillion base], efficient, fair and controversial). It should not be used on top of an already progressive income tax but it is the perfect complement to a low flat rate income tax.

    In the interest of space I conclude with a suggested tax reform plan that can be described in one sentence simply to prove that a little more effort could produce dynamic tax reform with bipartisan appeal:

    Tax individual and corporate income at a flat 8% rate (with no deductions, credits or loopholes), tax individual net wealth at 2% (excluding $15,000 cash and retirement funds) and impose a 4% Value Added Sales Tax (VAT) on business.

    The 2-4-8 Tax Blend has the lowest rates and will produce about $500 billion more than current federal revenue [around 18.5% of GDP] with no need for payroll, estate, and capital gains taxes or deferral of foreign income.

    Eugene Patrick Devany, JD, MPA
    http://www.TaxNetWealth.com

    June 3, 2012 at 2:30 pm | Reply
  15. RD

    I am so glad, I was able to take Columbia out of list of prospective schools I would like to attend to do my MBA program, after listening to Mr. Hubbard today. I cannot believe they let a reputed school be led by such a BS artist like Hubbard. I will not go anywhere near his class even if they offered me free tuition!!! No wonder so many of his students end up as crooks at Wall Street.

    June 3, 2012 at 7:01 pm | Reply
  16. heloise8

    Reblogged this on The Trough.

    June 4, 2012 at 7:32 am | Reply
  17. DTM

    Fareed, Have you ever watched the movie" Inside Job"? about all the people that caused the 2008 meltdown? Glen Hubbard is in that movie and is on the big biz payroll. Why do you have these liars on and treat them with kid gloves? Are you also on big biz payroll? I think so. SEE THAT MOVIE AND WAKE UP!

    June 4, 2012 at 8:12 am | Reply
  18. t. stephenson

    surprisingly inarticulate advocate for Romney and unfortunately for the B school – both could do better.

    June 27, 2012 at 10:51 am | Reply

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