Gingrich: I helped Romney get rich
December 6th, 2011
09:42 PM ET
11 years ago

Gingrich: I helped Romney get rich

(CNN) - Republican presidential contender Newt Gingrich stumbled upon a new campaign line Tuesday during an appearance on CNBC. The former House speaker came to the conclusion that policies he shepherded through the House of Representatives led to GOP rival Mitt Romney’s personal wealth.

“I was part of (the late Rep.) Jack Kemp's little cabal of supply-siders who, largely by helping convince (President Ronald) Reagan and then working with Reagan, profoundly changed the entire trajectory of the American economy in the nineteen-eighties,” Gingrich said. “You could make the argument that I helped Mitt Romney get rich because I helped pass the legislation.”

CNBC host Larry Kudlow asked if Gingrich had ever made that argument before, prompting the White House hopeful to say: "I am as of right this minute, it just occurred to me."

Gingrich continued, “He (Romney) should be thanking me because I did the macroeconomic things necessary to make his career possible."

Team Gingrich said the comments on CNBC were an "attempt at humor."

Tuesday wasn’t the first time Gingrich has touted his role in creating "supply-side economics" during his tenure as House speaker. He made similar remarks last week on Fox News Channel, saying he “helped Ronald Reagan and Jack Kemp develop supply-side economics.”

Gingrich served as a Republican congressman from Georgia throughout the 1980s, during which time many Republicans sided with then-President Reagan on lowering income and capital gains taxes with the hopes of spurring production of goods and services.

Mitt Romney helped found the private equity firm Bain Capital in 1984, and went on to make tens of millions of dollars by investing and restructuring companies.

Filed under: 2012 • Mitt Romney • Newt Gingrich
soundoff (96 Responses)
  1. Peter

    So, Grinch, was it you the person responsible for deregulation and tricky-down economics? Those things caused the S&L crisis, Enron, several other small recessions and ultimately the crash of 2008. Is that what you're proud of? Go take a hike, fool.

    December 7, 2011 12:51 am at 12:51 am |
  2. eMan

    What a pompous rick head...

    December 7, 2011 12:52 am at 12:52 am |
  3. enuff

    What he conveniently FORGETS to mention is that was also the era of the savings and loan meltdown and the keating 5 scandal.

    December 7, 2011 12:54 am at 12:54 am |
  4. mreeeed

    I guess he is saying he helped create the 99% with golden shower economics, err I meant trickle down economics.

    December 7, 2011 12:54 am at 12:54 am |
  5. Brent

    I guess he's one of those supply siders who still hasn't come to grips with reality. They don't seem to understand that many of the major problems faced today trace back directly to the times Newt speaks so proudly about in the 80's.

    December 7, 2011 01:12 am at 1:12 am |
  6. Scott

    Perhaps next Gingrich will announce that he invented the flux capacitor. Supply-side economics is socialism and it lead to a recession in Reagan's first term in office. Reagan was smart enough to abandon it when he realized it did not work. Gingrich is not as smart nor as savvy as Reagan.

    December 7, 2011 01:27 am at 1:27 am |
  7. steven harnack

    I swear that next he is going to claim that he invented fire and created the modern world. So is he saying that he is the one who came up with trickle down, which was the worst insult to the common man since "let them eat cake"? That he is responsible for workers wages stagnating since the 80s while the richest increased their wealth by 300%? I guess that it just hasn't trickled down yet, eh? And won't until they get more tax breaks and no regulatory restraints on their greed?

    December 7, 2011 01:44 am at 1:44 am |
  8. Grand Oil Party

    This just in: Newt helped write the Declaration on Independence. He said so so it must be true.

    December 7, 2011 02:27 am at 2:27 am |
  9. Iamnotfooled

    So Gingrich is admitting he helped make the rich get richer and the poor , poorer. Romney then was free to "Restructure" and kill American jobs by downsizing and sending jobs overseas for cheap labor. So is this what this country needs? You Repubs really know how to pick them.

    December 7, 2011 02:42 am at 2:42 am |
  10. BJ Bell

    Newt - "I don't get it big Dan", why would anyone vote for this guy. I guess that just shows you that America truly has lost any sense of "right and wrong", everything is political - nothing more, maybe he can get Donald Trump to be the VP.

    Is this the best the Republicans can do?

    December 7, 2011 02:52 am at 2:52 am |
  11. m

    The next thing out of this idiot's mouth will be he also created the universe.

    December 7, 2011 03:05 am at 3:05 am |
  12. Carlos Murphy

    Neat – he takes credit for a truly stupid and failed economic policy.

    For you history buffs, 'trickle-down economics' proved that the only thing which trickles down from the top is urine.

    December 7, 2011 03:12 am at 3:12 am |
  13. Name king

    Hey Gingrich I can also say you've help this country returned back to the days of the great depression when you only had the filthy rich and the filthy poor. This trickle down deregulation kabuki tax cuts for the rich only helps one country and that is china. Because china had way more folks who wants to live like Americans than American has. We've I feels the rich wants to boast America's demand power because I feels most of them is very patriotic. But I also feels their pain because if these repubs keep cutting their spending money and jobs, they have no choice but to go abroad where their products are being bought.

    December 7, 2011 03:26 am at 3:26 am |
  14. mike

    my lord this guy has a overblown view of himself.someone like him in the Whitehouse would be very dangerous indeed!

    December 7, 2011 05:40 am at 5:40 am |
  15. Whatever

    Newt reminds me of an evil me.

    December 7, 2011 05:44 am at 5:44 am |
  16. mb2010a

    Newtie, your comments about your time in the House as Speaker are NOT helping your case...No Newt is good Newt.

    December 7, 2011 05:50 am at 5:50 am |
  17. GOP = Greed Over People

    The salamander finally admits "supply side" economics was all about helping the 1% and screwing the middle class in America.

    The fact that he is now on top of the manure pile of GOP nominees, now seems even more appropriate.

    December 7, 2011 06:46 am at 6:46 am |
  18. crooked bridge

    Remember, pride before the fall.

    December 7, 2011 06:48 am at 6:48 am |
  19. krabz

    Had he worked closer with Al Gore he could have invented the internet as well. This man's ego will be his undoing.

    December 7, 2011 06:51 am at 6:51 am |
  20. chuck weidemann

    Nitwit Newt flying very close to the sun,my find his wings will soon melt!!! I continue to be amazed at the dept of his love of himself....

    December 7, 2011 07:03 am at 7:03 am |
  21. mary

    Thats right folks–Newt was part of a lot of things ! His political record is well documented and it will all start flowing out like sewage for all of us to see–This is not a a nice man and I'm old enough to remember it all-As a Christian and an Independent voter I have this to ask to my fellow believers who are now getting behind Newt as a candidate for President–WHAT HAPPENED TO YOUR FAMILY VALUES?? Not only are you backing a very corrupt individual- you are backing a serial adulturer!..It is beyond my comprehension that you can call yourselves Christians and support such immoral and egotistical behavior. Do you really hate Barrack Obama that much? And ask yourself why???. I live in the south where it is predominantly Republican and I will tell you from 1st hand experience that a lot of this attitude stems from a racist mentality-go ahead and deny it but it's true! .. What's with your extreem anger? Your lying and false accusations? Your complete disrespect for your president?Your attacks on his family? What are you afraid of? Go to the Bible and see what God says about your behavior. You are bitter angry people that need to pause and check your own motives.

    December 7, 2011 07:03 am at 7:03 am |
  22. pn

    If he wants credit for creating wealth at the top, did he also "create the macro economic conditions" that led to stagnation for everyone else?

    December 7, 2011 07:24 am at 7:24 am |
  23. diridi

    Now you know all GOP candidates are "Thieves". They are supposed to be in Guantanamo Prison. Freddy Mac helped him take 2.8 million dollars for advising? 1997, IRS helped him evade Taxes? What nonsense these GOP pigs talking at the cost of poor man in America and his tax pay. Shame America. Drive these thugs out of offices in next election. Please. Obama2012.

    December 7, 2011 07:40 am at 7:40 am |
  24. MichelleMyBelle

    The rest of the GOP candidates should be feeling pretty betrayed at this point (especially Mitt Romney). Remembering during the earlier debates how Newt Gingrich told them not to go after each other, but to stay focus and pounce on President Barack Obama and his failed policies and stances (according to the Republicans). That only worked for a while, if it did at all. Now Newt is out for the jugglier vein. Slicing and stabbing anything and anyone that's in his

    December 7, 2011 07:44 am at 7:44 am |
  25. lgny

    If Gingritch is elected, we will need to build a major addition to the White House just to hold his ego.

    December 7, 2011 07:44 am at 7:44 am |
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