Mitt Romney schools Obama on the economy

AnotherBlackConservative
Thursday, December 3, 2009

You just knew this was coming sooner or later, Mitt Romney delivers a serious smack down to Obama’s failed economic practices. Romney offers a 10 point plan on how to rapidly create jobs. If I were Obama I would have invited Mitt Romney to this so called Jobs Summit. Romney has probably created more private sector jobs than all the know nothings at the Jobs Summit combined.

Here is Romney’s smack down in USA Today:

Today’s White House jobs summit comes too late for millions of Americans who through no fault of their own have lost their jobs, their homes, their savings and, in many cases, the self-esteem and self-respect that come from work. Like other presidents before him, Barack Obama inherited a recession. But unlike them, he has made it worse, not better.

His failure to stem the unemployment tide should not have been a surprise. With no experience whatsoever in the world of employment and business formation, he had no compass to guide his path. Instead, he turned over much of his economic recovery agenda to House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid, themselves nearly as inexperienced in the private sector as he. Congress gave him and them everything they asked for, including a history-making three-quarters of a trillion dollar stimulus.

But it did little to stimulate the real economy – where jobs are created. Studies, initiatives and programs that liberal think tanks had long pined for were given life even as the private economy was on life support. The president’s team assured us that their massive stimulus would hold unemployment below 8%. So with unemployment now at 10.2%, it is clear that their stimulus was a miscalculated failure.

In an attempt to disguise the truth, the administration has touted inflated figures of jobs “created.”But every month, in good times and bad, jobs are created and jobs are lost. What matters is the net difference between the two numbers. Focusing solely on jobs created while ignoring the far greater numbers of jobs lost is Harry Houdini economics.

Growing government, as was done with the stimulus, inevitably depresses the private sector and job creation. Shrinking government and reducing government jobs is healthier for the economy, but this option was never seriously considered. That’s no wonder: As White House guest logs for the first half of the year reveal, the most frequent visitor to the executive mansion was Andy Stern, the head of the Service Employees International Union, which represents government workers.

Ouch! That’s gonna leave mark! Click here for Romney’s 10 point plan.

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