Economic Stances of the Likely and Declared 2008 Presidential Candidates
Brian Gongol


As particular candidates' opinions on major economic issues become clear, they are added to this running compendium for quick reference. Grades are assigned from "A" to "F" depending upon the free-market friendliness of the individual's position. A candidate who has worked to bring about private accounts for Social Security would earn an "A", while one who steadfastly opposes free trade would receive an "F". A complete guide to the ratings appears below the charts. Candidates must show a reasonable chance of participation to be included.

Current candidates for President

Candidate State Party Highest office held Private-sector experience Private sector grade Social Security reform Medicare reform Immigration CAFTA Free trade
John McCain AZ R Senator None F A A B A A
Barack Obama IL D Senator None F F D C F


One-time candidates for President who have dropped out

Candidate State Party Highest office held Private-sector experience Private sector grade Social Security reform Medicare reform Immigration CAFTA Free trade
Joe Biden DE D Senator Lawyer D D C B F F
Sam Brownback KS R Senator Lawyer D A F B A A
Hillary Clinton NY D Senator Lawyer D F A C D F
John Cox IL R None Lawyer and accountant B B B D
Chris Dodd CT D Senator Lawyer D F F B F D
John Edwards NC D Senator Lawyer D F F C F
Rudy Giuliani NY R Mayor Lawyer and consultant D C B
Mike Gravel AK D Senator Businessperson A C F B
Mike Huckabee AR R Governor Manager, communications firm A F B D
Duncan Hunter CA R Representative Lawyer D C F D F D
Dennis Kucinich OH D Representative None F F F A F F
Ron Paul TX R Representative Doctor B B A D F B
Bill Richardson NM D Governor None F D C B B
Mitt Romney MA R Governor Venture capitalist A C C C
Tom Tancredo CO R Representative None F C A F F B
Fred Thompson TN R Senator Lawyer, actor D B A C
Tommy Thompson WI R Governor Lawyer and consultant D C C
Tom Vilsack IA D Governor Lawyer D C B


Possible candidates who never officially joined the race

Candidate State Party Highest office held Private-sector experience Private sector grade Social Security reform Medicare reform Immigration CAFTA Free trade
George Allen VA R Senator Lawyer D D F D A A
Evan Bayh IN D Senator Lawyer D F D C F D
Rod Blagojevich IL D Governor None D F B
Michael Bloomberg NY R Mayor CEO, news agency A C A A
Jeb Bush FL R Governor Real estate A B B
Wesley Clark AR D None Consultant D F D B
Tom Daschle SD D Senator None F F F B D
Elizabeth Dole NC R Senator President, American Red Cross C B F B A B
Russ Feingold WI D Senator Lawyer D D F B F F
Harold Ford TN D Representative None F F F C F C
Bill Frist TN R Senator Surgeon C B F C A A
James Gilmore VA R Governor Lawyer D C
Newt Gingrich GA R Speaker of the House Professor C B D D
Al Gore TN D Vice President Newspaper reporter C F C C
Chuck Grassley IA R Senator Farmer A A F D A B
Chuck Hagel NE R Senator CEO, manufacturing firm A B A B A A
Tim Kaine VA D Governor Lawyer D C C
John Kerry MA D Senator Lawyer D F C B F C
Bill Owens CO R Governor Consultant C D
George Pataki NY R Governor Lawyer D C
Tim Pawlenty MN R Governor Lawyer D B D
Colin Powell NY R Secretary of State None F B
Condoleezza Rice AL R Secretary of State Professor C
Mark Sanford SC R Governor Real estate B A A C
Rick Santorum PA R Senator Lawyer D A F F A C
Mark Warner VA D Governor Co-founder, Nextel A C


How these grades were determined

Private-sector experience: Why it matters: Private-sector experience should be a job requirement for the person charged with leading the world's biggest free-market economy. Policymakers who have never been outside the public sector see taxes, paperwork, and regulations (not to mention issues like "job creation") from an entirely different vantage point than those who have to live with those acts of government.

Social Security reform: Why it matters: Candidates who favor private accounts tend to be market enthusiasts, while those who act as though the problem can be solved through tax hikes and/or benefit cuts alone are ignoring the sheer magnitude of the problem. Private accounts have to be introduced in a truly market-friendly way, but the magnitude of the problem is too big to be ignored.

Medicare reform: Why it matters: The scope and urgency of Medicare's budget crisis are even greater than those for Social Security.

Immigration: Why it matters: If 12 million immigrants are here illegally but our nationwide unemployment rate is still around 5%, then the nation clearly has demand for a large number of workers. "Closing the borders" isn't a solution to that problem.

CAFTA: Why it matters: CAFTA helps bind the United States economically and politically to Latin America, which is crucial for the country's economic health and long-term security.

Free trade: Why it matters: Free trade is good for the economy and good for Americans.