Wednesday, May 30, 2012

I Was Wrong


Yep, I was. I've been saying that Romney's experience with Bain provided no experience that applies to being president; that he doesn't understand the economy. Turns out he does:

Halperin: You have a plan, as you said, over a number of years, to reduce spending dramatically. Why not in the first year, if you’re elected — why not in 2013, go all the way and propose the kind of budget with spending restraints, that you’d like to see after four years in office? Why not do it more quickly?

Romney: Well because, if you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5%. That is by definition throwing us into recession or depression. So I’m not going to do that, of course.

Of course. Deficit spending has been necessary therapy for the economy devastated by his party's wrongheadedness, and he recognizes it. In fact, he knows that now's not the time to be cutting spending the way his party is calling for. He's a goddam closet Keynesian. (I added that sentence for you, PT.)

So, yeah, he evidently understands the need for what Obama has done. Which, because it's his nature, hasn't stopped him from lying about it and campaigning against it.


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