Mitt Romney has simply refused to offer any specific details on his economic plan. He promises his $5 trillion in tax cuts weighted towards the wealthy will not add to the deficit or raise taxes on the middle class--but he doesn't have the math to prove it. Now, he's launched a new ad that falsely claims he can create 12 million jobs if elected.
But once again, the math just does not add up to what he's promising. The Washington Post examined Romney's "plan," and found that Romney's math isn't even close to accurate—"not by a long shot." Take a look:
"[T]he specifics—7 million plus 3 million plus 2 million—mentioned by Romney in the ad are not in the White Paper. So where did that come from? We asked the Romney campaign, and the answer turns out to be: totally different studies … with completely different timelines.
"For instance, the claim that 7 million jobs would be created from Romney's tax plan is a 10-year number, derived from a study written by John W. Diamond, a professor at Rice University.
"This study at least assesses the claimed effect of specific Romney policies. The rest of the numbers are even more squishy.
"For instance, the 3-million-jobs claim for Romney’s energy policies appears largely based on a Citigroup Global Markets study that did not even evaluate Romney’s policies. Instead, the report predicted 2.7 million to 3.6 million jobs would be created over the next eight years, largely because of trends and policies already adopted—including tougher fuel efficiency standards that Romney has criticized and suggested he would reverse.
"The 2-million-jobs claim from cracking down on China is also very suspicious.
"This figure comes from a 2011 International Trade Commission report, which estimated that there could be a gain of 2.1 million jobs if China stopped infringing on U.S. intellectual property rights. The estimate is highly conditional and pegged to the job market in 2011, when there was high unemployment. 'It is unclear when China might implement the improvement in IPR protection envisioned in the analysis, and equally unclear whether the United States will face as much excess labor supply then as it does today,' the report says."
The Washington Post's final rating on Romney's jobs math? Four Pinocchios. Read the full review here and then share the facts about Romney's arithmetic with your friends and family.Read More…