Mitt Romney's Budget Would Destroy Jobs: Report

Discussion in 'Politics' started by Free Thinker, Sep 27, 2012.

  1. Republican presidential nominee Mitt Romney has promised to create 12 million jobs if elected president. But a new report has found that his budget proposal actually would destroy hundreds of thousands of jobs.

    Romney's budget plan would lead to a net loss of 554,000 jobs by 2014, while President Barack Obama's budget plan would lead to the net creation of 1.4 million jobs, according to a new analysis by the Economic Policy Institute, a liberal think tank. Moreover, if Romney makes his budget revenue-neutral, as he has promised, then his plan would lead to a net loss of 1.9 million jobs over the next two years, largely because of deep spending cuts, the report found

    Nor would lost jobs come for the sake of a smaller national debt. According to a recent analysis by Business Insider, Romney's budget plan would increase the deficit, even if the economy grows more than expected.
  2. Ricter


    Romney's specialty, cutting FTEs. It works great in a business, how come it won't work in a nation? ; )
  3. Lucrum


    What budget? Wasn't his last budget defeated in a landslide?
  4. Lol. And the deficit after Obama 2nd term?

  5. less than under romney:
    We have analyzed the likely impact of Mitt Romney's economic plan on the country's national debt and deficit.

    Our analysis suggests that the Romney Plan will radically increase America's debt and deficits over the next 10 years.
  6. wildchild


    It depends what you consider a landslide.

    Does getting defended in the Senate by a margin of 99 - 0 sound like a landslide?

    How about when you consider the Senate is controlled by his own party?
  7. Ricter


    Speaking of the deficit/debt, it's time to get current. Last I heard, months old now, the deficit was beginning a slow decline, and the debt/GDP ratio was flatlining. GDP has risen again, spending is down, so it would be good to see the new info.
  8. wildchild


    GDP has risen?

    "The third reading on Q2 GDP just came out and the report was ugly.

    The headline growth number was revised down to 1.3 percent on an annualized basis."

    From the lefts perspective this is good news.
  9. Lucrum


    The national debt is still increasing, although the deficit and spending are very slowly declining.
  10. jem


    I just consulted some models and experts. The models say under obama' non plan and non leadership and harry rieds b.s. there is a 95% chance of greater debt and continued job loss relative to those seeking jobs. (the 5% is mostly discounting a war)

    The same model says that through growth the Romney plan will decrease the budget and create 12 to 15 million jobs in the next few years.

    Why the JEM plan balances the budget and returns us to full employment in 3 years.
    #10     Sep 27, 2012