Real News' War Room: Economic Philosophies of Romney and Obama Square Off

A new poll out today shows that many voters don’t believe either candidate for president is going to help the economy. Only 29 percent surveyed in a new CNN/ORC poll think the economy will improve under Mitt Romney, 31 percent think it will improve if still under President Obama. Twenty-two percent say it will not get better under Obama or Romney. The ability to turn around the economy has always been thought to be the main issue for voters in 2012, and now after weeks of Bain, perhaps the media's focus during the campaign will shift back to the economic philosophies of each candidate.

President Obama's speech Thursday in Pueblo, Colorado, presented his platform for why he is still the best person to lead this economy moving forward. POLITICO reports that the president touted what he sees as success following the auto bailout, and how he will keep the manufacturing industry in the United States and not China. During the Colorado speech Obama also pushed for a renewal of a tax credit for wind energy manufacturing, and a creation for credits for companies who bring jobs home from overseas.

Aside from Obama isn't working, what is Mitt Romney's economic philosophy, and how will he jumpstart the recovery? Given how much time the Obama campaign has put into painting him as a vulture capitalist, the former Massachusetts governor needs a stronger and more descriptive argument than "I worked in the private sector. I know how to create jobs."

While the actual facts behind what’s going on with GM right now may not necessarily be the success story Obama has been presenting, as GM reported earnings down 41 percent in the second quarter, is Romney able to articulate this failure? And that picking winners and losers at taxpayer expense is not a real formula for success in turning around the entire economy? The "Real News" panel Friday discussed the economic philosophies of each candidate and what Romney needs to do to win back the narrative that he is the best best candidate for jobs and greater prosperity over the next four years: