A few months ago, Romney said anything over 4% unemployment is 'nothing to celebrate.' He didn't exactly promise to bring unemployment down that low, but I think it was implied that he thought he could do it.
Lately, he's backed off and now says he can get unemployment down to about 6%, in about 4 years. That doesn't seem very impressive to me because many economists predict that will happen anyway without Romney in office.
It seems strange to me that he wants four years to accomplish that goal because he's been attacking Obama for not getting it done immediately. But you, know, different standards apply.
Romney hasn't exactly released a tax plan, but he sure has been making a lot of promises. He said he will cut income tax rates for everyone without exploding the deficit. He can't quite say how that will work, but seems to think that closing loopholes will make up the difference. A recent analysis shows that cannot work without raising taxes on pretty much everyone making less than $250,000 per year.
Romney says that analysis is flawed.... but neither Romney nor anyone else on his team can come up with any explanation for how the Romney plan would work. So, as flawed as that analysis is... it's they only one we have to work with.
The new theory they're pushing is that Romney will create such an enormous economic boom that we'll all prosper and not need to raise taxes to pay off the deficit or pay for tax cuts. Amazingly, the guy pushing that theory is Kevin Hasset who wrote a famous book back in 2000 called "DOW 36,000."
Amazon's description of DOW 36,000 says:
I hope I don't have to explain to anyone that the Dow did not "zoom" to 36,000 twelve years ago.Why the Dow is still poised to zoom
* Why the financial establishment is wrong
* Why stocks are actually less risky than bonds
So, it's a simple question: does anyone believe his promises?