Romney Declares the Recession Over

Yesterday morning, Republican hopeful Mitt “The Legacy” Romney called The Laura Ingraham Radio Program.  (Unintended) Hilarity ensued:

Ingraham pointed out that the President and Treasury Secretary have said the economy is getting better, with more job being created on a monthly basis. Romney himself, she added, has said there are signs improvement on the horizon.

So, “how do you answer the President’s argument that the economy is getting better in a general election campaign if you yourself are saying that it’s getting better?”

“Well, of course it’s getting better,” said Romney. “The economy always gets better after a recession.” The question, he continued, is whether it’s getting better because of something the President has done, or whether he’s delaying that inevitable recovery. You can guess which side of the fence Romney falls on.

“Isn’t that a hard argument to make?” asked Ingraham.

Romney didn’t flinch: “Do you have a better one, Laura?”

Romney appeared on Fox News Sunday with Chris Wallace back on 12/18/11:

Romney said when is on the campaign trail talking to business leaders, he asks whether the current administration has helped them hire more people or be more successful. He said he never sees a single hand raised in the audience in response.

“His policies have hurt, not helped,” he said.

Romney said part of the problem may be Obama’s leadership style. Obama has not met with Republicans in five months, but has instead gone on “constant attack either against Republicans or against people in the business world or whatever group he somehow feels is opposed to his agenda.”

“Leaders actually spend time meeting with people on the other side of the aisle, understand their needs, understand their concerns, get their input and look for some way to find common ground,” he said. “We need a leader who understands not just the words of unity but the practice of building unity.”

On Saturday after much back-and-forth with Congress, Obama said he was pleased with the move by Senate Democrats to compromise on a payroll tax cut bill that funded a tax break for 160 million Americans without raising taxes on millionaires and with the inclusion of provisions regarding Keystone XL pipeline. The legislation passed 89-10, but House Republicans say they oppose the plan because they want the tax cut to last 12 months and be paid for.

Romney said he doesn’t want to criticize everything the president has done, but his economic policies have made it “more difficult for this economy to reboot.”

He added that while the president gets the credit for killing Usama bin Laden and claims to have stopped another Great Depression, most of his rhetoric is “hollow.”

So, the economy is getting better and we’re coming out of a recession, huh?

Not according to 65% of the country:

The standard newspaper definition of a recession is a decline in the Gross Domestic Product (GDP) for two or more consecutive quarters.

This definition is unpopular with most economists for two main reasons. First, this definition does not take into consideration changes in other variables. For example this definition ignores any changes in the unemployment rate or consumer confidence. Second, by using quarterly data this definition makes it difficult to pinpoint when a recession begins or ends. This means that a recession that lasts ten months or less may go undetected.

It’s hard not to notice that this recession is still going on.  Go out to a restaurant in the middle of the week.  Go to the movies.  Go to the ballgame.

The empty seats speak volumes.

In a related story

House Speaker John Boehner of Ohio predicted that the election this fall will be a referendum on the president’s economic policies and the divided Congress provides his Republican colleagues an opportunity to draw a stark distinction with Democrats in the next 10 months.

“President Obama’s policies have not helped our economy,” Boehner said. “As a matter of fact, his policies have made our economy worse. It’s pretty clear to the American people that these policies are not working and when you look at this election that’s coming up, it’s pretty clear it’s going to be a referendum on the president’s policies regarding our economy.”

To paint a clearer picture of what Republicans consider the failed policies of the White House, Boehner said he has asked all House Republicans to examine the effect of the administration’s policies in order to make sure Americans “understand the devastating impact of these policies on our economy.”

“When it comes to oversight, it’s pretty clear to me that there are a lot of members of Congress who really don’t have a good understanding of how our economy works,” Boehner said.

The speaker added that with “more extensive oversight focused on these policies, we’d be able to educate members of Congress on both sides of the aisle, which, frankly, would be the best path forward in order to get any of that changed.

“Maybe we can convince some of our colleagues across the aisle, maybe we can even convince the president of the United States that these policies are not only not helping, but they’re hurting the ability of small businesses to create jobs in our country,” Boehner said. “Our focus over the course of this year will be on the economy and on jobs and making sure that hard-working taxpayers have a real opportunity at a good job in our country.”

Evidently, not only is Mitt out of touch with the economic reality you and I face every day as we try to pay our bills and eat at the same time, he’s not even in sync with his own political party leaders.

And this guy wants to be president?

Share
This entry was posted in Economics, Politics and tagged , , , , , , , , , , . Bookmark the permalink.

Comments are closed.