Mitt Romney said today that, regarding the U.S. economy, he would “look at what the president’s done, and do the opposite.”
HERE‘s what that means:
Four years ago, the economy was shrinking; now it’s growing. Four years ago, the economy was hemorrhaging jobs; now it’s gaining jobs. Four years ago, the unemployment rate was going up; now it’s going down. Four years ago, the stock market was crashing; now it’s reaching new heights. Four years ago, the deficit was getting bigger; now it’s getting smaller. Four years ago, the American auto industry was on the verge of collapse; now it’s thriving.
Is Romney sure he wants to look at the Obama administration’s policies and do the opposite?
In this case, the opposite would, as a practical matter, mean European-style austerity measures, taking capital out of the economy, dramatically scaling back public investments, and prioritizing debt reduction over growth.