Tuesday, May 15, 2012

Quotation for Today: Romneynomics Is Wrong for America

Republican presidential wannabe, Mitt Romney, has made the return to Bushnomics the central idea of his political campaign. These are the same economic policies that provided tax breaks for American companies that off-shored thousands of American jobs to foreign countries. Conversely, President Barack Obama has advocated tax breaks for American companies who create jobs for Americans, not foreigners.  

Across the jump, the quotation for today captures the essence of the economic policies that GOP presidential wannabe, Mitt Romney, thinks is good for America.
"Of course, strengthening manufacturing hasn’t been a policy priority in the United States or its metropolitan areas during the last four decades. If anything, public policy has encouraged the offshoring of manufacturing jobs and the hollowing out of America’s production capabilities. We now have a chance to reverse course. Doing so can only benefit the Midwest’s metropolitan areas."
Howard Wial

Mr. Wial, a fellow in the Brookings Institution’s Metropolitan Policy Program, writes about manufacturing and regional economic development.  

Republican presidential wannabe, Mitt Romney, wishes to take the country back to these policies according to the Washington Post's columnist, Eugene Robinson. Robinson writes (italics added), "And what might Romney’s proposed economic policies be? Why, they’re basically the same as those of George W. Bush, only worse"; read Robinson's complete column here.

Conversely, President Obama's strong advocacy for re-shoring jobs to America is captured in the following statement (italics added): “Right now we have an excellent opportunity to bring manufacturing back -- but we have to seize it.  My message to business leaders is simple:  Ask yourselves what you can do to bring jobs back to your country, and your country will do everything we can to help you succeed.” Barack Obama, President of the United States.

More on President Obama's manufacturing policy can be found here.

You can read Mr. Wial's complete article by following the link enclosed in the citation.

Wial, Howard. "Did Manufacturing Job Losses Hold the Midwest Back?." Brookings Institution 14 May, 2012: online edition.

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