3 December 2009
By Mitt Romney
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
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
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
My 10-point plan
The president's economists insist that technically, the recession is over. But double-digit unemployment was neither prevented nor has it ended. To get people back to work as rapidly as possible and to restore America's economic vitality, the nation must change course. Here's the advice I would give:
The 10% unemployment crisis hangs like an albatross around President Obama's neck. Eventually, as with every recession and recovery, the economy will improve and jobs will be created, but those who were unnecessarily unemployed due to the president's faulty economic program will not forget. In order to most rapidly re-employ all Americans and to speed a strong recovery, the president must change course. If he does not, Republicans will bring a change of their own to Washington in the 2010 elections.
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