Romney’s plan to fix the economy is the same plan offered by his predecessors (and his goal of 12 million new jobs is the number forecast by economists as normal job growth).
Mike Konczal of the Roosevelt Institute:
The same exact playbook is there in 2006, as it was in 2004 and 2008, and as it is in 2012. Domestic oil production, school choice, trade agreements, cut spending and reduce taxes and regulations — it’s been the conservative answer to times of deep economic stress, times of economic recovery, times of economic worries, and times of economic panic. Which is another way of saying that the Republicans have no plan for how to actually deal with this specific crisis we face.
Paul Krugman (today’s best political columnist by far) concurs and offers a chart showing the pathetic history of job growth during the two terms of our last Republican president:
We should ask how the identical policies worked out in Bush’s two terms. And the answer is: zero job growth in term one (and a fall in private sector employment), one million in term two. Oh, and private sector employment lower when Bush left office than when he arrived.