Mitt Romney sounded an alarmist tone about the future of the free enterprise system on Thursday, arguing that a second Obama term could lead to the takeover of the economy by the government. In a speech at a Hispanic-owned business in St. Louis, Mo. "One must ask," Romney said, "whether we will still be a free enterprise nation and whether we will still have economic freedom."
Here's Romney's reasoning, from his prepared remarks:
Today, government at all levels consumes 37 percent of the total economy or G.D.P. If Obamacare is allowed to stand, government will reach half of the American economy. And through the increasing controls government has imposed on industries like energy, financial services and automobiles, it will soon effectively control the majority of our economic activity.
One must ask whether we will still be a free enterprise nation and whether we will still have economic freedom. America is on the cusp of having a government-run economy. President Obama is transforming America into something very different than the land of the free and the land of opportunity.