Speaking today at Cuyahoga Community College in Cleveland, Ohio, Obama declared:
“As for the long term, remember that the economic vision of Mr. Romney and his allies in Congress was tested just a few years ago. We tried this. Their policies did not grow the economy. They did not grow the middle class. They did not reduce our debt.
“Why would we think that they would work better this time?
“We can’t afford to jeopardize our future by repeating the mistakes of the past. Not now. Not when there’s so much at stake. …
“There is nothing new, just what Bill Clinton has called the same ideas they’ve tried before except on steroids.”
Never worked. Always failed. Blah, blah.
By the end of Ronald Reagan’s third year in office the GDP growth rate was 5 percent — not less than 2 percent as it now is —and was racing toward 8.5 percent growth. Inflation had fallen from Jimmy Carter’s 13 percent to 4 percent. Unemployment rates dropped from 9.5 percent to 5.2 percent. Joblessness now still is 8.2 percent and the number of new jobless claims increased today.
In 15 months of 1983 and 1984, Reagan’s policies resulted in 4.65 million new jobs. In a comparable period in 2011 and 2012, Obama’s seen 2.47 million new jobs, though the population is 33 percent bigger.
Obama suggested today that “if you want to give the policies of the last decade another try, then you should vote for Mr. Romney.”
How about the policies of three decades ago? I think that is what Romney is saying.