Mitt Romney shared a straightforward summary of his guiding economic principle at a campaign stop earlier today.
Kicking off his Virginia campaign, Republican Mitt Romney said Wednesday he’ll do “the opposite” of what President Barack Obama has done to help the economy. His wife, Ann, chipped in by appealing to women voters in a key region of a state both candidates will fight over until November’s election.
“What I would do? People ask me, ‘What would you to get the economy going’? and I say, ‘well look at what the president’s done, and do the opposite,’” Romney told a group gathered at a warehouse in Northern Virginia.
I’m not sure if Romney’s really thought this one through. Or maybe he has, and he assumes voters won’t think this one through.
Four years ago, the economy is 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.
Incidentally, Euro Zone unemployment rates have reached record highs, and the austerity agenda has pushed the UK, Belgium, Greece, Ireland, Italy, the Netherlands, Portugal, and Slovenia into recessions. They’ve all done “the opposite” of the Obama administration, and they all plan to the results are unambiguous.
And yet, there’s Mitt Romney, expecting voters to make him president so he can take “the opposite” steps that have helped get the U.S. economy at least pointing in the right direction again.