Skip to main content

Ooops emoticon
So Mitt Romney made another embarrassing gaffe today: He pledged that in a Romney administration, unemployment would fall to six percent by the end of 2016.

Why is that a gaffe?

Well, to start with—as NBC's Mike O'Brien points out—Mitt Romney earlier this month said that he wouldn't celebrate anything less than four percent unemployment. So in the span of less than a month, Mitt Romney has already moved his unemployment rate target up by two full points—a 50 percent increase.

Second, the nonpartisan Congressional Budget Office already projects that under current policy the unemployment rate will fall to six percent by the end of 2016. In other words, Mitt Romney's pledge is no better than current projections.

Finally, President Obama's economic team has already projected a six percent unemployment rate in 2016. So Mitt Romney isn't promising to do any better than the president's own projections.

But it's even worse than that for Romney. The White House projections were developed in the late summer of 2011 using very conservative growth assumptions. For example, they projected a fourth quarter 2012 unemployment rate of 8.8 percent, but it's already down to 8.1 percent. As a result, in February the White House said that they expected unemployment would be even lower than they had originally projected ... which means Mitt Romney is pledging higher unemployment rate than President Obama. And if that's not a gaffe, I don't know what is.

Originally posted to The Jed Report on Wed May 23, 2012 at 12:29 PM PDT.

Also republished by Daily Kos.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site