“Inescapable Truth”: Obama Has A Jobs Plan, Romney Doesn’t
It’s no secret that the presidential election will be decided by the state of the economy and which candidate has a better plan for creating jobs. So, toward that end, consider a few relevant numbers:
+ 1.4 million to 3.3 million—that’s how many jobs were created or saved by the American Recovery and Reinvestment Act, otherwise known as the stimulus, according to the Congressional Budget Office.
+ 1.9 million—that’s the number of new jobs the American Jobs Act, unveiled by President Obama in September 2011, would create, according to Mark Zandi of Moody’s.
– 4.1 million—that’s how many jobs Paul Ryan’s budget, which Mitt Romney called “an excellent piece of work,” would eliminate through 2014, according to the Economic Policy Institute (EPI).
+11.5 million—that’s how many jobs Romney claimed last September he would create in the first term of his administration. But true to form, Romney never said how he would create that many jobs, nor has any reputable economist backed up his claim. “Nowhere in the 160 page plan could I find a stated job creation number,” wrote Rebecca Thiess of EPI. “The math doesn’t just appear to be fuzzy—it appears to be nonexistent.” Added David Madland of the Center for American Progress: “It is a plan from the Republican candidate for president designed to maximize corporate profits. What it doesn’t do is help the middle class or create jobs.” Even the conservative editorial page of the Wall Street Journal called Romney’s fifty-nine-point economic tome “surprisingly timid and tactical considering our economic predicament.”
Following last month’s disappointing jobs report, Romney offered six specific ideas to lift the flagging economy. Reported Greg Sargent:
He said he would tap our energy resources to “put a lot of people to work in the energy sector.” He said he’d repeal Obamacare, which is “scaring small businesses from hiring.” He said he’d balance the budget so people know “investing in America is going to yield a return in dollars worth something.” He vowed to “open up new markets in American trade.” He said he’d revamp the National Labor Relations Board and lower tax rates on employers, both of which would make it easier to hire people.
Sargent asked a few top economists whether Romney’s ideas would actually create jobs. “On net, all of these policies would do more harm in the short term,” responded Mark Hopkins, a senior adviser at Moody’s Analytics. “If we implemented all of his policies, it would push us deeper into recession and make the recovery slower.”
Hopkins’s quote might just be the most important one of the campaign so far. Every story about the candidates’ positions on the economy should mention this essential dynamic: Obama has a jobs plan. Romney doesn’t. In fact, according to economists, Romney’s prescriptions for the economy would only make a bad situation significantly worse.
By: Ari Berman, The Nation, June 12, 2012
Mitt “Embracing Radical Ryan”: Top Paul Ryan Aide Jumps To The Romney Campaign
The top policy aide to House Budget Committee Chairman Paul Ryan has joined Mitt Romney’s presidential campaign, in an indication of Romney’s embrace of Ryan’s legislative proposals.
House Budget Committee Policy Director Jonathan Burks has left his post to become deputy policy director for the Romney campaign, according to Burks and Republican aides. The hire highlights Romney’s relationship with Ryan and embrace of the Wisconsin Republican’s proposals to slash domestic spending and overhaul Medicare by allowing beneficiaries to eventually purchase private coverage. It could also fuel speculation about the likelihood of Romney picking Ryan as his vice presidential nominee.
Romney has edged closer to Ryan’s plans even as President Obama and congressional Democrats make it clear that their own opposition to Ryan’s Medicare proposals will be a top campaign theme. On ABC’s This Week with George Stephanopoulos on Sunday, Romney campaign adviser Eric Fehrnstrom said the candidate “is for” the Ryan budget. “He believes it goes in the right direction,” Fehrnstrom said. Romney’s camp has also highlighted contacts between the former Massachusetts governor and Ryan.
Spokesmen for the Romney campaign and the Budget Committee declined to comment on Burks’s move.
By: Dan Friedman, The Atlantic, June 8, 2012
“Women And Children Last”: Was The Republican Party Always This Greedy?
I have a keen interest in military strategy and tactics. Probably because I’m a political strategist and tactician. Wednesday night, I watched a documentary on the Military History Channel about the Battle of Leyte Gulf in World War II. The unselfish actions of U.S. sailors there prevented a military disaster and demonstrated what was great about the Greatest Generation.
General Douglas MacArthur had just landed his invasion force in the Philippines in October of 1944. A large Japanese naval fleet, including the biggest battleship in the world, the Yamato, was bearing down on Leyte Gulf to destroy our invasion forces on the beach. The only American naval force available to stop the attack was a small task force of destroyers and escort carriers called Taffy 3 (Task Force 3).
The large Japanese force dwarfed and outgunned Taffy 3 but the Americans blunted the attack by sending three destroyers up against big Japanese battleships. The small destroyer force was able to slow down the larger Japanese fleet long enough for the main American fleet to ride to the rescue and save the day. In the process, the Japanese sunk all three of the destroyers and hundreds of brave, young American sailors went down with their ships. But the selfless dedication of the men in Taffy 3 saved MacArthur’s invasion force from total destruction.
There’s a world of difference between the selfless sacrifice of Taffy 3 and the Republican Party. A recent survey by the Pew Research Center shows that only four of 10 Republicans believe that government has a responsibility to help people who can’t help themselves. In contrast, six out of every 10 independents and three out of every four Democrats believe that government should step up to help down-on-their-luck Americans. Republicans weren’t always this selfish. In 1987, six in 10 Republicans wanted government to work for the common good.
The GOP slogan for campaign 2012 should be “Every man for himself” or “Women and children last.” Republicans of course, make exceptions for their sugar daddies. If you’re a banker or a billionaire you can count on a lot of help from Republicans in power. If you’re an unwed mother in need of prenatal medical care or a poor hungry kid in need of a school lunch, you can forget about any help from the GOP Mean Machine.
The Mitt Romney/Paul Ryan budget clearly illustrates the party’s fiscal philosophy. The GOP budget cuts aid for prenatal care, school lunches, and child healthcare. The Republican proposal is careful, however, to protect tax breaks for the 1 percent. The best example of the cruelty in the GOP budget is that it cuts federal aid to help seniors pay for home heating oil while it maintains $4 billion dollars a year in federal tax freebies for the oil companies. If you have filled your tank recently you know big oil doesn’t really need the money.
My political philosophy comes from Hubert Humphrey, who said, “The moral test of government is how that government treats those who are in the dawn of life, the children; those who are in the twilight of life, the elderly; and those in the shadow of life, the needy and the handicapped.”
If my belief in these words makes me a bleeding heart liberal, let me bleed.
By: Brad Bannon, Washington Whispers, U. S. News and World Report, June 7, 2012
“Chum In The Water”: Romney’s Economic Plan Is Deregulation Plus The Ryan Budget
As Mike Allen of Politico explains today, the Romney campaign and American Crossroads are undertaking a sustained attack (uncoordinated, of course, since coordination would be illegal) on the Obama administration’s economy policies
Mitt Romney’s campaign events and the firepower of American Crossroads will both focus this week on President Barack Obama’s jobs record as a way to fight off charges about the Republican candidate’s private-sector experience, with a Romney aide attacking the stimulus as “the mother of all earmarks….”
A senior campaign aide said Romney will argue that Obama has actually subtracted jobs: “Were these investments the best return on tax dollars, or given for ideological reasons, to donors, for political reasons? He spent $800 billion of everybody’s money. How’d it work out?”
“It was the mother of all earmarks, not a jobs plan,” the aide said. “By wasting all of this money, you had the worst of all worlds: It destroyed confidence in the economy and makes people less likely to borrow money. Dodd-Frank has been a disaster for the economy. Where are the steady hands? Who’s in charge of energy? Where’s the strong, confident voice on the economy?”
At WaPo’s Plum Line, Greg Sargent makes the point that this offensive presents an almost impenetrable pack of lies:
So Romney will now go back to claiming Obama subtracted jobs. But there’s a new twist: Romney will claim that the effect of the stimulus has been to destroy jobs. As it has in the past, the Romney camp will justify this by pointing to a bogus metric — the net jobs lost on Obama’ watch. That includes the hundreds and hundreds of thousands of jobs lost before the stimulus went into effect. Really: The Romney camp’s claim is that we can calculate that the stimulus destroyed jobs overall with a metric that factors in all the jobs destroyed before the stimulus took effect. That’s not an exaggeration. It really is the Romney campaign’s position. It’s time to ask Romney himself to justify it.
The Romney camp will also begin claiming that Obama has “never created a job.” Will anyone ask Romney about the two dozen straight months of private sector job creation we’ve seen?
And that’s just the half of it, since the Romney campaign is also basing its attacks on the “confidence fairy” (Obama has killed jobs just by being a Democrat; Romney will generate them by his very aura, which makes other rich people feel like goin’ out and creatin’ them some jobs!), and on the phony premise that “the stimulus” (designed in no small part in response to Republican demands for more tax cuts and less direct public-sector spending) represented some sort of grand left-wing “industrial policy” instead of a demand-boosting effort to accelerate federal spending on projects and priorities already in the works.
It’s beginning to become apparent that Team Mitt will throw vast amounts of chum into the water to avoid the fundamental reality that its candidate’s own Economic Plan is basically deregulation plus the Ryan Budget. Perhaps if Romney is going to traipse around the country mocking individual federally-funded projects, someone should follow him around pointing out what the Ryan Budget would do to the same locales. It would not look pretty.
By: Ed Kilgore, Contributing Writer, Washington Monthly Political Animal, May 29, 2012
“Big Fiscal Phonies”: Republicans Are Fake Deficit Hawks With “Magic Asterisk” Solutions
Quick quiz: What’s a good five-letter description of Chris Christie, the Republican governor of New Jersey, that ends in “y”?
The obvious choice is, of course, “bully.” But as a recent debate over the state’s budget reveals, “phony” is an equally valid answer. And as Mr. Christie goes, so goes his party.
Until now the attack of the fiscal phonies has been mainly a national rather than a state issue, with Paul Ryan, the chairman of the House Budget Committee, as the prime example. As regular readers of this column know, Mr. Ryan has somehow acquired a reputation as a stern fiscal hawk despite offering budget proposals that, far from being focused on deficit reduction, are mainly about cutting taxes for the rich while slashing aid to the poor and unlucky. In fact, once you strip out Mr. Ryan’s “magic asterisks” — claims that he will somehow increase revenues and cut spending in ways that he refuses to specify — what you’re left with are plans that would increase, not reduce, federal debt.
The same can be said of Mitt Romney, who claims that he will balance the budget but whose actual proposals consist mainly of huge tax cuts (for corporations and the wealthy, of course) plus a promise not to cut defense spending.
Both Mr. Ryan and Mr. Romney, then, are fake deficit hawks. And the evidence for their fakery isn’t just their bad arithmetic; it’s the fact that for all their alleged deep concern over budget gaps, that concern isn’t sufficient to induce them to give up anything — anything at all — that they and their financial backers want. They’re willing to snatch food from the mouths of babes (literally, via cuts in crucial nutritional aid programs), but that’s a positive from their point of view — the social safety net, says Mr. Ryan, should not become “a hammock that lulls able-bodied people to lives of dependency and complacency.” Maintaining low taxes on profits and capital gains, and indeed cutting those taxes further, are, however, sacrosanct.
Still, Mr. Ryan and Mr. Romney are playing to a national audience. Are Republican governors, who have to deal with real budget constraints, different? Well, there have been many claims to that effect; Mr. Christie, in particular, has been widely held up, not least by himself, as an example of a politician willing to make tough choices.
But last week we got to see him facing an actual tough choice — and aside from the yelling-at-people thing, he proved himself just another standard fiscal phony.
Here’s the story: For some time now Mr. Christie has been touting what he calls the “Jersey comeback.” Even before his latest outburst, it was hard to see what he was talking about: yes, there have been some job gains in the McMansion State since Mr. Christie took office, but they have lagged gains both in the nation as a whole and in New York and Connecticut, the obvious points of comparison.
Yet Mr. Christie has been adamant that New Jersey is on the way back, and that this makes room for, you guessed it, tax cuts that would disproportionately benefit the wealthy.
Last week reality hit: David Rosen, the state’s independent, nonpartisan budget analyst, told legislators that the state faces a $1.3 billion shortfall. How did the governor respond?
First, by attacking the messenger. According to Mr. Christie, Mr. Rosen — a veteran public servant whose office usually makes more accurate budget forecasts than the state’s governor — is “the Dr. Kevorkian of the numbers.” Civility!
By the way, even Mr. Christie’s own officials are predicting a major budget shortfall, just not quite as big. And the two big credit-rating agencies, Moody’s and Standard & Poor’s, have recently issued warnings about New Jersey’s budget situation, which S.& P. called “structurally unbalanced” because of the governor’s optimistic revenue assumptions.
New Jersey, then, is still in dire fiscal shape. So is our tough-talking governor willing to reconsider his pet tax cut? Fuhgeddaboudit. Instead, he wants to fill the hole with one-shot budget gimmicks, including reneging on a promise to reduce borrowing for transportation investment and diverting funds from clean-energy programs. So much for fiscal responsibility.
Will Mr. Christie’s budget temper tantrum end speculation that he might become Mr. Romney’s running mate? I have no idea. But it really doesn’t matter: whoever Mr. Romney picks, he or she will cheerfully go along with the budget-busting, reverse Robin Hood policies that you know are coming if the former governor wins.
For the modern American right doesn’t care about deficits, and never did. All that talk about debt was just an excuse for attacking Medicare, Medicaid, Social Security and food stamps. And as for Mr. Christie, well, he’s just another fiscal phony, distinguished only by his fondness for invective.
By: Paul Krugman, Op-Ed Columnist, The New York Times, May 27, 2012
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