Wednesday, May 30, 2012

Romney gives false impression of economic literacy

Mitt Romney tried to reassure Michigan voters he doesn't intend to cut spending by saying cutting spending is recessionary.

Was this an endorsement of Keynesian economic theory? Of course not.  It's just another attempt to deceive.  In fact, Romney's fiscal goals call for cutting the entire government by close to 60%, other than the military and social security, including things such as Medicare, despite his claims that he wouldn't touch it for ten years.

Romney has called for $8 trillion in spending cuts to go with his $2 trillion military expansion.

Despite his lies, we know a number of things about Romney's core beliefs.  One is that he is a rigid ideologue. In Massachusetts, he vetoed adding any more liquor licenses.  As a businessman and SLOC chair he engaged in "symbolic" cost cutting, fining people monetarily if they were late for staff meetings, and choosing what hotels they were allowed to stay at.  He didn't save much money by all this, but it demonstrated his power and his ideology. His ideology is simple. He is better than you and so you must sacrifice and give more to him.

To pretend that he harbors some Keynesian ideas similar to Obama's is to misread him entirely. He managed to get through decades with Bain Capital without learning the difference between capitalism and white collar fraud.  He is not a man who deserves a chance to run our economy.

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