Romney suggests that he would emulate European policies
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.