Mitt Romney’s Jobs Plan: ‘Believe In America’

Former Massachusetts governor Mitt Romney released his jobs and economic growth plan on Tuesday (9/6/11), entitled “Believe In America.” It is available at http://mittromney.com/jobs/?ET_RID=1041273&ET_CID=688357

An overview of Romney’s plan is available at http://www.mittromney.com/blogs/mitts-view/2011/09/believe-america-day-one-job-one.

The Wall Street Journal’s initial reaction to Romney’s plan:

Mitt Romney rolled out a major chunk of his economic agenda yesterday, and we’ll say this for it: His ideas are better than President Obama’s. Yet the 160 pages and 59 proposals also strike us as surprisingly timid and tactical considering our economic predicament. They’re a technocrat’s guide more than a reform manifesto.

Mr. Romney seems to understand that the private economy will inevitably produce millions of new jobs—in industries and companies we can’t predict—when it resumes growing at 3% or more. This is an important philosophical distinction that drives most of the Romney agenda.

So it’s good to see the former Massachusetts Governor endorse the House GOP effort to review and approve major new regulations that cost more than $100 million. Mr. Romney also joins the other GOP candidates in vowing to repeal ObamaCare and Dodd-Frank. He’d pull the Energy Department from the role as venture capitalist that it has pursued since the Bush Administration, re-focusing it back on basic research, rather than backing solar companies that go bankrupt.

His economic aides say this idea comes directly from Mr. Romney himself, which is even less reassuring. It looks like a political maneuver to blunt the criticism he’ll receive because some of Bain Capital’s companies sent jobs overseas, or perhaps this is intended to win over working-class precincts in Pennsylvania and Ohio. But giving Americans the impression that a trade war will bring those jobs back to the U.S. is offering false hope. It also distracts from the other fiscal and regulatory reforms that are needed to attract capital and create jobs.

 

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