I share Romney’s disappointment, but compared with his predecessor, Obama has done a much better job of stimulating economic output. Under the GOP’s plan, output fell in 2001 from 104.5 to 101, then rose to 103.5 by 2004, just enough to get the boy president re-elected, then rolled downhill and fell off the cliff until 2009 when when it hit 96.5. Obama stepped up with the Democratic stimulus package that brought it back to 102.5.
Then, the Republican Congress blocked his every initiative and nothing constructive happened.
The GOP adds 2 points to output in a jobless recovery, following the the tech bust, but later subtracts 7 points. Obama adds 6 points to output in another jobless recovery. And we’re supposed to believe that the GOP has the better plan? Where are the GOP’s much heralded job creators? Why are they AWOL?
They weren’t there for their own boy president, they weren’t there for Obama, and they won’t be there for Mitt Romney either.
Why? Because their taxes have been cut so much there is too little margin for them in the tax deductibility of payroll. If Romney reduces their taxes even more, there will be even less of a margin. You want to put people back to work, give the “job creator ” saints some incentive, raise taxes on them to increase their margins on payroll deductions.