"The Romney campaign's "update" yesterday of its economic plan contains little new in it besides regurgitations of dubious old claims, proving only that the GOP presidential candidate and his advisers take seriously their vow that "we're not going to let our campaign be dictated by fact checkers."
Perhaps the most spurious claim from the Romney economic team is that President Obama's economic policies are responsible for America's current economic woes. Any responsible reading of the fact shows that Obama policies are delivering the U.S. economy from an economic abyss caused by eight years of George W. Bush.
The chief authors and advocates of those Bush policies, of course, are Columbia University's Glenn Hubbard, Harvard University's Gregory Mankiw, and Kevin Hassett of AEI — the same men now in charge of Romney's economic platform. From 2001 to 2008, their policies delivered the weakest economic expansion since World War II and set the stage for the financial crisis and Great Recession. This is the situation from which millions of Americans are still recovering.
Romney's economic plan, like Bush's, is based on a dubious assumption: That massive tax cuts largely benefiting the wealthy will spur economic growth. As chairman of President Bush's Council of Economic Advisers, Hubbard predicted the first round of tax Bush tax cuts would "quickly deliver a boost to move the economy back toward its long-run growth path," starting with adding 300,000 more jobs and half a percentage point to the economic growth rate."* Cenk Uygur breaks down Romney's record with job creation and his return to George W. Bush era tax cuts and wars. In this video is a hypothetical ad Cenk would run if he were running against Mitt Romney.
Tags: election, 2012, Bush, Romney, GOP, Republican, The Young Turks
Location: United States (load item map)
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