Explaining Southern California's economy

Live-econoblogging the Republican debate in California

ANOTHER UPDATE: President Obama has pitched his jobs plan to Congress and the public and I've got a quick reaction. Some intriguing ambiguity about whether we'll get an infrastructure bank, a subject I've blogged about. An I-Bank would have some definite benefits for Southern California, where the infrastucture is a-crumbling and there are thousands of unemployed construction workers.

UPDATE: As promised, I took a closer look at Perry's argument that Social Security is a Ponzi scheme. Social Security is not a Ponzi scheme, and here's why.

And so it ends. On the economy, the frontrunners — Mitt Romney and Rick Perry — promoted their own jobs records and attacked each other. On balance, Romney provided a more focused message on the country's future global competitiveness, which makes sense given his experience with Big Finance. This should resonate with Southern California, given the region's exposure to international trade. Perry stuck to his guns on Social Security and his insistence that it's a Ponzi scheme (which it isn't). This was a risky move, but one that should please his base. However, it also created a distraction from Topic A, which for many Americans is unemployment. "A monstrous lie to our kids" Perry called it, while if what he really wanted to do was talk about reforms to entitlement spending, he could have avoided this radical argument (although he's been on the record with this one for a while). 

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