Romney's economic plan, which includes proposals like creating 12 million jobs and cutting taxes for the rich, supposedly without increasing the deficit, isn't actually an economic plan, the Nobel Prize-winning economist wrote in a New York Times blog post on Thursday.
"The true plan is to provide an economic stimulus in the form of Romney’s awesome awesomeness; the cover story is the pretense of having an actual program," Krugman wrote. "The Romney notion is that we'd be having a rip-roaring recovery right now, except that Job Creators feel that Obama is looking at them funny. And so all Romney has to do is show up, and happy times will be here again."
The Romney campaign is avoiding the fact that the economy has needed more "fiscal and monetary stimulus" than it has received, Krugman wrote, and instead is clinging to the notion that the only solution is "CONFIDENCE."
There have been warning signs that Krugman may be right. Romney said at the now-infamous "47 percent" fundraiser that "we'll see capital come back and we'll see -- without actually doing anything -- we'll actually get a boost in the economy."
Yes, you read that right. "Without actually doing anything."
Many critics also have derided Romney's tax plan, saying it doesn't add up. Romney has promised to cut taxes in a way that would largely benefit the rich; he also has promised not to increase the deficit or raise taxes on the middle class by doing so. But the Tax Policy Center and several commentators have noted that this is mathematically impossible. Romney's latest tax proposal still would increase the deficit and benefit the rich the most, according to the Tax Policy Center.
Some commentators, including Bloomberg View columnist Josh Barro, surmise that Romney has a "secret economic plan" that he would aim to implement if elected President. But Krugman appears to view Romney's planning skills less generously.
Original Article
Source: huffington post
Author: Bonnie Kavoussi
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