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Friday, October 19, 2012

Paul Krugman: Snow Job on Jobs

There is no Romney jobs plan:

Snow Job on Jobs, by Paul Krugman, Commentary, NY Times: Mitt Romney talks a lot about jobs. ... But Mr. Romney, it turns out, doesn’t have a plan; he’s just ... telling lies: claiming that ... independent studies support its position when those studies do no such thing. ...
Mr. Romney’s ... jobs plan ... has five points but contains no specifics. ... Mr. Romney says that the plan would create 12 million jobs over the next four years.
Where does that number come from? When pressed, the campaign cited three studies that it claimed supported its assertions. In fact, however, those studies did no such thing.
Just for the record, one study concluded that America might gain two million jobs if China stopped infringing on U.S. patents and other intellectual property..., but Mr. Romney hasn’t proposed anything that would bring about that outcome. Another study suggested that growth in the energy sector might add three million jobs... — but these were predicted gains under current policy,... not as a consequence of the Romney plan.
Finally, a third study examined the effects of the Romney tax plan and argued (implausibly...) that it would lead to a large increase in the number of Americans who want to work. But how does that help cure a situation in which there are already millions more Americans seeking work than there are jobs available? It’s irrelevant to Mr. Romney’s claims.
So when the campaign says that these three studies support its claims about jobs, it is, to use the technical term, lying — just as it is when it says that six independent studies support its claims about taxes (they don’t).
What do Mr. Romney’s economic advisers actually believe? As best as I can tell, they’re placing their faith in the confidence fairy, in the belief that their candidate’s victory would inspire an employment boom without the need for any real change in policy. In fact, in his infamous Boca Raton “47 percent” remarks, Mr. Romney himself asserted that he would give a big boost to the economy simply by being elected, “without actually doing anything.” ...
To summarize, then, the true Romney plan is to create an economic boom through the sheer power of Mr. Romney’s personal awesomeness. But the campaign doesn’t dare say that, for fear that voters would (rightly) consider it ridiculous. So what we’re getting instead is an attempt to brazen it out with nakedly false claims. There’s no jobs plan; just a plan for a snow job on the American people.

    Posted by on Friday, October 19, 2012 at 01:11 AM in Economics, Policy, Politics | Permalink  Comments (85)


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