Presidential candidate Mitt Romney delivers his acceptance speech on the final day of the Republican National Convention at the Tampa Bay Times Forum on Thursday, August 30. See the best photos from the Democratic National Convention.
Editor's note: William Howell is the Sydney Stein professor in American politics at the University of Chicago.
(CNN) -- One and only one argument has the potential to deliver Mitt Romney and Paul Ryan to the White House. The argument comes in two parts, the first of which is perfectly familiar.
The only way to address our mounting debt and put back to work the millions of Americans either jobless or underemployed is to grow the economy. Businesses large and small must recover a level of security and freedom to expand their operations, make capital investments and grow their workforce.
It's the second part, though, that Romney needs to drive home tonight: Why he can be trusted to make that growth happen.
Additional public spending does not present a sustainable policy platform. The nation's deficits are simply too great and the returns on public investments too low for the federal government to be able to spend its way out of this economic malaise. Alone, those austerity measures that stand any chance of enactment -- and here, Paul Ryan, take heed -- will register only passing blows to the federal government's extraordinary financial obligations. If Europe offers any lesson, it's that serious drawdowns on the federal budget threaten whatever economic recovery is under way.
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Growth, and growth alone, promises a way forward. Unrelated discussions about abortion, immigration, White House leaks, the dysfunctions of Washington or patriotic sentiment merely distract from the only argument that matters. Additionally, some of these discussions genuinely threaten to fragment the Republican Party and alienate swing voters. Meanwhile, every pertinent discussion about financial regulation, the tax code, international trade and entitlement overhaul must reinforce a central message of growth.
So far, so good. But the argument cannot end there if Republicans hope to reclaim the presidency. As Ryan himself admitted Wednesday night, "By themselves, the failures of one administration are not a mandate for a new administration. A challenger must stand on his own merits."
And so the second part of the argument, and the one that needs shoring up the most during this convention, is that Romney and Ryan offer the best chance for economic recovery. The Republican Party must give the American public reasons to believe that their ticket offers the leadership needed to grow the economy.
In the first two nights of this convention, they have not.
Repeatedly intoning that "we can do better," as a steady stream of convention speakers have done, will not suffice. The question is not whether "we" can do better, but whether Romney can do so, whether there is something in Romney's personal history, character or vision that can bring about the kind of economic recovery that, so far, has eluded the current administration.
Although delegates dutifully applauded to scripted lines, the speakers offered little of lasting value, little that undecided voters could hold on to when the Democrats have their turn next week.
Ryan, to be sure, had his moments. He proved most effective when he lambasted President Obama not just for having enacted a health care reform that, in his view, amounts to "2,000 pages of rules, mandates, taxes, fees and fines that have no place in a free country," but for insisting that we, as a nation, engage a long, divisive debate on health care amid a financial crisis and massive unemployment.
Ryan also did a nice job of conveying his allegiance with the owners of "restaurants, cleaners, gyms, hair salons, hardware stores," and of signaling his appreciation for the hard work and dedication required to run a small business.
And in perhaps his best line of the evening, Ryan recognized the disaffection of the youth who have been most hurt by the economic downturn. "College graduates should not have to live out their 20s in their childhood bedrooms, staring up at fading Obama posters and wondering when they can move out and get going with life."
But much of Ryan's speech, following on the budgetary reforms that launched him to national prominence, centered on the debt crisis in isolation. Ryan's critique of Obama's stimulus package started and ended with the observation that "money wasn't just spent and wasted -- it was borrowed, spent and wasted." But Ryan did not do nearly enough to spell out why this matters for economic growth, or what Romney would have done differently.
Ryan's subsequent reflections on faith and family, his insistence that individual rights are afforded by God and nature rather than government, and his thoughts on the nation's "moral creed" may have stirred the Republican base, but it did little to sharpen the singular message that stands some chance of tipping the election.
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He made passing reference to Romney's "rescue" of the 2002 Winter Olympics, but he did not produce any examples of companies that Romney resuscitated while working in the private sector. He did not offer specifics on which, if any, of Romney's dealings at Bain Capital improved the lives of workers and the long-term prospects of their employers.
While recognizing that Romney as governor of Massachusetts balanced the state's budget without raising taxes, Ryan also did not describe how that bluest of New England states grew economically under Romney's watch.
Ultimately, of course, others cannot make the argument on his behalf. Romney must deliver it himself. All of the speeches we have heard so far are mere warmup acts to Romney's time behind the podium.
The stakes couldn't be higher. If Romney does not succinctly and powerfully state that growth is essential, and then personally and movingly address how he would do that, Obama may well become the first president to win re-election since Franklin Roosevelt when the unemployment rate stood above 8%.
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The opinions expressed in this commentary are solely those of William Howell.
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Attendees celebrate as confetti and balloons drop after Romney's speech.
Romney and vice presidential candidate Paul Ryan take the stage with their families at the end of the night.
People bow their heads for the benediction to wrap up the GOP convention.
Romney and Ryan wave to the audience after Romney's speech, which described a future of opportunity and promise for the nation.
Romney greets supporters as he enters the arena Thursday.
Florida Sen. Marco Rubio introduces Romney after his speech.
Delegates wave signs on the final day of the RNC.
Actor Clint Eastwood speaks as a surprise guest.
Mitt Romney's wife, Ann, and son Josh sit in the VIP box.
Former Florida Gov. Jeb Bush speaks on stage.
A man holds an American flag in the audience.
Pam Finlayson speaks during the convention.
Jane Edmonds, the former Massachusetts secretary of workforce, delivers remarks.
Olympians and gold medalists Michael Eruzione, Derek Parra and Kim Rhode stand on stage at the convention.
A woman clasps her hands during the program.
Former Speaker of the House Newt Gingrich and his wife, Callista, speak during a tribute to former president Ronald Reagan on Thursday.
Callista and Newt Gingrich take the stage during the final day of the Republican National Convention.
Delegates listen to the national anthem at the Tampa Bay Times Forum.
Texas Gov. Rick Perry applauds during the final day of the convention.
U.S. Rep. Connie Mack, R-Florida, speaks on stage during the final day.
Law enforcement officials work to free protesters with Earth First, who had connected themselves to each other in front of the Big Bend TECO Power Station in Apollo Beach, Florida. Substantially fewer protesters took to the downtown Tampa streets Thursday.
GOP vice presidential nominee Paul Ryan addresses the Republican National Convention on Wednesday night.
Paul Ryan's wife, Janna, is flanked by her sons Charlie, left, and Sam during Ryan's keynote address Wednesday night.
A woman grasps her hands during speeches on the third day of the GOP convention.
Paul Ryan and his wife and children exit the stage after the biggest speech of his political career.
Former Secretary of State Condoleezza Rice speaks at the Tampa Bay Times Forum on Wednesday. She accused President Barack Obama of yielding the nation's leadership role in the world.
George Engelbach, dressed as President Abraham Lincoln, attends the GOP convention.
Mike Huckabee, a Republican candidate in the 2008 presidential primaries, backs his one-time rival Mitt Romney.
A woman snaps an image with her iPhone during Wednesday night's events.
Former Minnesota Gov. Tim Pawlenty takes the convention stage.
Delegate Carlos Mendez of Puerto Rico watches Wednesday night's program.
New Mexico Gov. Susana Martinez delivers remarks. Her speech emphasized her belief in the American Dream.
Delegate Crystal Berg of Hartford, Wisconsin, cries while watching the George H.W. Bush tribute Wednesday night.
Arizona Sen. John McCain, who was the 2008 Republican presidential nominee, speaks to the audience.
As Sen. John McCain speaks, some audience members display happy birthday posters.
Sen. John McCain, who was a POW during the Vietnam War, addresses the crowd.
Senate Minority Leader Mitch McConnell of Kentucky speaks during the third day of the Republican National Convention.
Col.Oscar Poole of Georgia puts his arm around Wisconsin Gov. Scott Walker.
Sen. Rand Paul of Kentucky speaks during the third day of the Republican National Convention. His father, U.S. Rep. Ron Paul of Texas, was one of the hopefuls for the 2012 nomination.
Former President George W. Bush is shown on the giant screens at the Tampa Bay Times Forum.
A woman gestures during the third day of the Republican National Convention.
Rosemary Edwards of Austin, Texas, kisses the face of Texas Gov. Rick Perry.
Sen. John Thune of South Dakota speaks during the third day of the Republican National Convention.
A woman holds a campaign sign.
Sen. Rob Portman of Ohio speaks at the podium.
Delegates from Maine and supporters of Republican presidential candidate Ron Paul chant "As Maine goes, so goes the nation" after they staged a walkout at the Tampa Bay Times Forum.
Paul Ryan speaks during a soundcheck Wednesday.
Ryan waves with daughter, Liza Ryan, and sons, Charlie Ryan, right, and Sam Ryan from the stage during a soundcheck.
Republican presidential candidate Mitt Romney exits a vehicle before boarding his campaign plane. As the Republican National Convention continues, Romney will travel to Indianapolis to address the American Legion.
Laura Bowman accepts Bradley Thompson's proposal on the stage. Thompson is a production manager and Bowman is a production coordinator for the convention.
Arizona Sen. John McCain walks the floor.
Bradley Thompson kneels down to propose to Laura Bowman, who accepted, on the stage.
Journalists and media work the third day of the Republican National Convention.
Ryan gives the thumbs-up during a sound check at the Tampa Bay Times Forum.
Ann Romney, Republican presidential candidate Mitt Romney's wife, greets a crowd of supporters on Tuesday.
Mitt Romney joins his wife on stage shortly after she addressed the Republican National Convention at the Tampa Bay Times Forum on Tuesday, August 28.
New Jersey Gov. Chris Christie delivers the keynote address to wrap up the first full night of the convention.
Republican presidential candidate Mitt Romney sits between his wife, Ann, and former U.S. Secretary of State Condoleezza Rice during Gov. Chris Christie's speech.
Concluding the first night of speech, Chris Christie declared Republicans were willing to face the tough issues and find solutions that work.
Delegates watch Gov. Chris Christie deliver the keynote address.
A delegate snaps a photograph of Chris Christie just before his speech.
As the crowd cheers, Mitt Romney embraces his wife, Ann, on stage during the convention.
An excerpt from Ann Romney's speech is displayed on a teleprompter Tuesday. She repeatedly referred to her first date with Mitt Romney in urging Americans to trust him to fix the nation's problems.
A veteran claps during Ann Romney's speech.
Ann Romney addresses the crowd in the biggest political speech of her life. She concluded by declaring "you can trust Mitt."
Former Republican presidential candidate Rick Santorum addresses the crowd Tuesday.
Leslie Jones of Virginia Beach, Virginia, wears a hat with tea bags attached.
Ohio Gov. John Kasich waves as he takes the stage.
Former Speaker of the House Newt Gingrich walks the floor.
American pop opera singer Neal E. Boyd performs at the Tampa Bay Times Forum.
American country and gospel vocal quartet Oak Ridge Boys perform.
Texas Solicitor General Ted Cruz, who is running for the U.S. Senate, speaks.
South Carolina Gov. Nikki Haley waves on stage.
Former U.S. Rep. Artur Davis speaks. He changed his party affiliation from Democrat to Republican earlier this year.
Delegates crowd the floor after the tallying of votes during the roll call for nomination of president of the United States at the Tampa Bay Times Forum.
Delegates display signs in support of Mitt Romney after the tallying of votes during the roll call for nomination of president of the United States.
Scott Romney, brother of Republican presidential candidate Mitt Romney, cheers during the roll call.
People cheer as the screen displays "Over The Top" during the roll call of delegates.
Supporters flash posters supporting Republican presidential candidate Mitt Romney at the Tampa Bay Times Forum.
People hold signs that say "Mitt!" as U.S. Speaker of the House Rep. John Boehner, R-Ohio, speaks.
Delegates from host state Florida face photographers and cameras as they pose for the official convention photograph.
A delegate takes a picture of the floor at the Tampa Bay Times Forum.
Ann Romney, Republican presidential candidate former Massachusetts Gov. Mitt Romney's wife, stands onstage with stage manager Howard Kolins during a soundcheck.
People from the Texas delegation say the Pledge of Allegiance.
A delegate from Wisconsin sports a cheese hat at the Tampa Bay Times Forum.
Ann Romney leans on a seat aboard the campaign plane en route to Tampa.
Karl Rove, former deputychief of staff and senior policy adviser to President George W. Bush, talks on a phone at the convention hall.
Republican candidate Ron Paul waves to supporters at the Tampa Bay Times Forum.
A woman cheers during the second day of the Republican National Convention.
A delegate checks out the convention floor before other delegates arrive at the Tampa Bay Times Forum.
A convention attendee carries a bag with a Time magazine featuring Mitt Romney on the cover.
A participant walks the convention floor before the start of proceedings Tuesday. Organizers pushed events back a day because of concerns about Isaac.
The Republican National Convention officially began Monday, August 27, but the bulk of the action was delayed until Tuesday.
A woman captures the goings-on with her phone before the start of the shortened first day of the Republican National Convention.
The chairman of the Republican National Committee, Reince Priebus, convenes the convention with a bang of a gavel.
Priebus raises the gavel as he convenes the Republican National Convention.
Lynne David walks behind a group of law enforcement officers as they patrol the streets before the convention.
New Jersey Gov. Chris Christie walks through the convention center before the start of the abbreviated first day.
Last-minute adjustments are made to the main stage at the Tampa Bay Times Forum on the abbreviated first day of the GOP convention.
An elephant logo is featured on the side of a tent outside of the Republican National Convention at the Tampa Bay Times Forum.
Two convention-goers wear plastic bags as shelter from the rain caused by Tropical Storm Isaac.
A man reads a newspaper in the empty seats of the Tampa Bay Times Forum.
Former New Hampshire Gov. John Sununu, left, stands at the podium with stage manager Howard Kolins before events begin Monday.
Men wearing cowboy hats stand on the arena floor before the start of the abbreviated first day.
Convention staff hang a Romney-Ryan sign at the Tampa Bay Times Forum on Sunday, August 26, in preparation for the Republican National Convention.
A tribute to NASA astronaut Neil Armstrong, who died Saturday, August 25, is displayed at the GOP convention as preparations continue.
Donald Trump, who accepted the Statesman of the Year Award from the Sarasota County Republican Party, answers questions in Sarasota, Florida.
A microphone is in place at the front of the convention hall in Tampa.
Former Republican presidential candidate Ron Paul speaks in the Sun Dome at the University of South Florida in Tampa on Sunday.
Activists hold signs mocking President Barack Obama at the Tea Party Unity Rally at The River at Tampa Bay Church.
Police officers question protesters carrying an effigy of Republican Party presidential candidate Mitt Romney during a demonstration in downtown Tampa.
Rachel Bolch Thach tries to shelter herself from the rain in Tampa. Tropical Storm Isaac is expected to bring rain and wind to the area and has caused convention officials to delay the start of the convention until Tuesday.
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