Newt Gingrich Unveils Economic Plan

May 13, 2011 10:44am

ABC News’ Arlette Saenz (@arlettesaenz) reports:

Newly-minted presidential candidate Newt Gingrich debuted his “Jobs and Prosperity Plan” this morning in Washington, D.C., touting his experience as Speaker of the House during the 1990’s and his work with the Reagan administration’s economic team as key indicators of his ability to carry out economic change.

“My campaign theme is going to be together we can win the future, right policies lead to right results” Gingrich said this morning. “The other team actually doesn’t know it but they’re going to be campaigning on losing the future, the wrong policies lead to the wrong results.” 

The former speaker of the House, who presented the country with the Contract with America in 1994, has crafted an economic plan that aims to stop the 2013 tax increases, shift to an optional 15 percent flat tax for Americans by filing their taxes on a postcard, and create incentives like tax cuts to stimulate greater business investment in the U.S.

“The left understands how to in fact destroy the American economy, and they’re working on it diligently,” he said.

His plan also intends to repeal and replace the health care reform law signed by President Obama, strengthen the U.S. dollar, implement an American energy policy, and strip regulations, programs and bureaucracies impeding job creation.

“Do you want to be a country that creates food stamps? In which case frankly Obama is an enormous success, the most successful food stamp president in American history,” Gingrich said.  “Or do you want to be a country that creates paychecks?”

Gingrich also promised to balance the federal budget and reform entitlement programs — two initiatives he conquered during his time as speaker of the House. 

“Despite all the current fights in Congress and the President, I don’t think it’s possible to get to a balanced budget at 9% unemployment,” Gingrich said.  “There’s a grave danger.  If we have a second drop and we’re at 12 or 13% unemployment, we’ll be in catastrophic environment.”

Later today, at the Georgia Republican Party’s annual convention in Macon, Ga.,  Gingrich plans to deliver his first political address since announcing his candidacy for president this week, in what he hopes will be a “fun” campaign.

“I think this is going to be the happiest, most positive and most fun campaign in my lifetime.  I think we’re going to have so many ideas, so many interesting people, so much fun doing things,” he said.

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