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Paul Abrams

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Governor Romney's Job Growth Record -- Worse than Obama and Carter's

Posted: 05/05/2012 9:53 am

Mitt Romney's sole claim to the presidency is that his business experience will enable him to accelerate job growth in America.

The GOP debates revealed that Romney was a failure as governor, with Massachusetts 47th in the nation in job growth, and only one of the four states that did not recover to pre-2001 recession job levels before the Bush/Cheney economic collapse hit.

But, let us talk less about rankings, and more about actual jobs.

What is that story? Again, for Romney it is dismal.

During Romney's four years as Governor of Massachusetts, he added 61,000 new jobs. At the time, Massachusetts had 2.5 percent of the nation's population. Thus, extrapolated to the nation as a whole, Romney would have added 2.4 million jobs.

In four years.

During the first three years of President Obama's Administration, 4.1 million new private-sector jobs have been added.

Governor Romney's 2.4 million jobs is not quite 60 percent of President Obama's 4.1 million. That is, President Obama has added 40 percent more jobs in absolute terms than Mitt Romney in ¾ of the time.

Romney is now comparing himself to President Jimmy Carter, seeming to believe that anyone would believe that he, Romney, is somehow tougher or better than the former president. Why Romney would believe that others would come to such conclusions is baffling.

We have already dispelled the notion that Romney, who avoided military service as if it were a plague, could hold a national security candle to President Carter.

But, what about job growth? Jimmy Carter was a former peanut farmer, without the Wall Street experience or savvy that Mitt Romney proclaims his Bain experience provides him. So, how could President Carter possibly have added jobs, especially with the Arab oil embargo, the Iran hostage crisis and the Soviet invasion of Afghanistan with which Carter had to contend?

Right? Sorry, Mitt, wrong again. Under President Carter, America added 10 million jobs in four years, a faster pace than under President Reagan, and just slightly slower than under President Clinton.

Romney's extrapolated-to-the-nation job growth during his tenure as governor is less than 25 percent of President Carter's record.

Still want to compare your jobs record to President Carter, Mitt?

You might do better picking on someone more like you -- such as George W. Bush.

 

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08:55 AM on 05/07/2012
Mr. Abrams. There you go with all your facts again. You know Republicans / some Americans do not like facts.

Its amazing how Republicans and some Americans refuse to accept the fact that Romney has a lousy jobs record. They think he has a better chance of fixing the economy than Obama. I guess ignorance is bliss in this country.

No wonder we are now considered the 26th most educated country in the world, and falling fast. The lack of education and critical thinking skills in this country is astounding !
12:17 PM on 05/19/2012
Thank goodness for President Obama. I enjoy the food stamps and unemployment insurance provided by POTUS. He has a great track record in creating green energy jobs, those wind mills are the answer to importing oil. Even though Solyndra did not work out at least the campaign contributors profited and were provided free legal representation. Romney is a robber baron and is a capitalist. He created thousands of jobs trying to upstage the POTUS. Government jobs are much better think of the benefits and pension plans provided at taxpayers expense? How else to grow the economy? We should forgive student debt, and continue to borrow from Medicare. He saved GM and GM is now building a 1.1 billion manufacturing plant in China to build 300,000 jobs per year at taxpayers expense. We have improved our foreign relations with China. Serve the People Vote Obama!
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MiddleMolly
Working to better the USA!
12:38 AM on 05/22/2012
Proof? Sources? Links? Or just lies?
06:44 PM on 05/06/2012
Thank you Paul Abrams! Your article actually brought a much needed smile to my face! This data needs to be in ads for President Obama ... over and over .... and then over again!

We MUST get out the Democratic vote all the way down the line ... President Obama . Senate, House, state legislatures (big time!) and local. No excuse to stay home this November ... that's how the Repubs won in 2010 ... and we can not let that happen again!
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Paul Abrams
07:24 PM on 05/06/2012
You make a very critical point about "down the ticket". The President will be in continuous battle over agencies, policies, programs that have been settled decades ago, unless we also hold on to the Senate and reclaim the House.

The point, really, is that we are on a good roll, and then the rightwing seized power and threw a wrench into it. It is, however, a difficult point to make despite its truth because of this: the impact of the first two years was not felt completely until 2011/12, and now we are seeing the impact on jobs of the Republican austerity programs....that they will blame on the President.
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Q45
I'M IN
08:49 PM on 05/06/2012
"and now we are seeing the impact on jobs of the Republican austerity programs....that they will blame on the President." ....TRUE

Thank you Paul Abrams for this dynamic article. All good stuff I mean relevant and pertinent.
09:55 PM on 05/06/2012
This is bad mathematical modelling. the extrapolation you imply is flawed. ie Multiplying both by 40 assumes homogeneity across states over time. One can make the case that the multiplier effect or coefficient can be larger or smaller depending on many other variables, ie they don't all average out to a "Massachusetts". That maybe the case with a certain numerical probability attached to it, but your methodology of reaching a number however prescient it may or not be, that methodology is deeply flawed, and reminiscent of a randomly chosen Tea Partier's "sense" of analysis.You should have presented an explicit range representing a confidence interval ,while making such an extrapolation.
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TheSarge
Armed Crawdad BodyGuard
05:36 PM on 05/06/2012
President Obama's job creation bad, Carters was terrible, and Romney's is worse! Well I may be rabidly conservative, but its time for centrist voting.
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MiddleMolly
Working to better the USA!
07:27 PM on 05/06/2012
No, Carter's job creation was good... the best in 40 years. Better than Reagan's or Clinton's.

Romney in Mass is much worse than the U.S. rate as a whole during 2003 to 2007.
01:51 AM on 05/07/2012
And how was Bush's jon creation record? Worst since Hoover you say? Here was a guy given a surplus, had 2 wars, the greatest economic bubble our country has seen, massive deficits, unprecedented Corporate welfare, and unprecedented expansion of public sector jobs and still had atrocious job creation numbers. Do you know how hard that is to do? It's nearly impossible. Bush had to literally try as hard as possible to get numbers that bad but he pulled it off.
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TheSarge
Armed Crawdad BodyGuard
09:21 AM on 05/07/2012
Bush didn't make my list.
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Gestas
Mountain Man
05:29 PM on 05/06/2012
Republicans don't care about his record..They are just going to vote for Romney, because it's his turn.
06:49 PM on 05/06/2012
And because it's not President Obama. Many Repubs are very well intentioned and will see through Romney. It's the far right that will vote for Romney .. any ve_ggie that's running against our President.

OBAMA 2012
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Quislet
It is a good day. I woke up breathing.
07:22 PM on 05/06/2012
I would say they will be voting for him because he is not a Democrat and not because it is his turn.

Though to be fair, I voted for John Kerry because he wasn't former Pres. Bush. Yeah John Kerry was an "anybody but Bush" candidate and Mitt Romney is an "anybody but Obama" candidate.
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RepublicansAreFail
The first 3 letters of Conservatism spell "CON"
04:47 PM on 05/06/2012
If it weren't for the Iranian hostage situation Carter would have won re-election easily.
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MiddleMolly
Working to better the USA!
07:37 PM on 05/06/2012
I don't know about easily, but the race would have been much, much closer, and there is a much better chance that Carter would have won.
01:53 AM on 05/07/2012
Agreed, it would not have been easy but much closer. Also, the fact that a recession was happening during the 1980 election didn't help as well.
doctorzap
Lies to the left of me, jokers to the right...
04:08 PM on 05/06/2012
-Romney is now comparing himself to President Jimmy Carter, seeming to believe that anyone would believe that he, Romney, is somehow tougher or better than the former president. Why Romney would believe that others would come to such conclusions is baffling.-

C'mon now, Mr. Abrams, but everyone knows that the name 'Jimmy Carter' triggers the far right's Foul Snooze programming, authored by Frank Luntz's remedial Conservatroid Talking Points for Liars and Fools. The Great Right Dope is still playing to those people which is good for Obama because it is far right and not a position that would appeal mostly to people in the middle.
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Zhonni
Former Marine, Liberal, Student, Trader
03:55 PM on 05/06/2012
I really think Romney's so-called strong suit would come back to bite him. It would look more like an empty suit by the time every voter hears about his record.

Enough negative ads can't be bought against Obama to cover for his record of shipping jobs overseas, or that he was a bad Gov. in terms of job creation.
07:09 PM on 05/06/2012
I hope you are right! f/f

And thank you so much for your service!
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lilacflower49
08:25 PM on 05/06/2012
I agree Zhonni F & F, (My husband was in the Navy for 6 years.)

ROLL ON NOVEMBER.
OBAMA /BIDEN 2012!!!
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01:42 PM on 05/06/2012
Both Reagan and bush had a worse jobs record than Carter.
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MiddleMolly
Working to better the USA!
07:39 PM on 05/06/2012
As a percentage of increase in jobs per term, every recent Prez, including Reagan and Clinton, had a worse jobs record than Carter. Carter had the highest increase in jobs (as a percentage) per one term of any Prez in the past 40 years.
01:55 AM on 05/07/2012
Not only was Bush worse but his is worse than pretty much every president of the last 100 years.
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01:23 PM on 05/06/2012
romney is "worse than obama."

so.... your pitch for obama is, he's the least worst?

/facepalm
07:11 PM on 05/06/2012
no.... but it should be appropriate, don't you think, to point out that the Mittster is not the guru of jobs he claims to be?
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10:50 PM on 05/06/2012
Of course. But then... I never said he was, nor do I believe he is.
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laura r
12:29 PM on 05/06/2012
Great Article.

Yes, I would expect that Mitt's job track record would be bad------because he has the same platform that George W. Bush had: Here's the facts below.

“How Many Jobs Were Created Per Month During The Bush Administration?

ANSWERS:

AVERAGE NUMBER OF JOBS CREATED PER MONTH BY THE BUSH ADMINISTRATION: 20,000

AVERAGE NUMBER OF JOBS CREATED PER MONTH BY THE BUSH ADMINISTRATION EXCLUDING THE DISASTROUS LAST YEAR: 65,000

NUMBER OF MONTHS IN THE BUSH ADMINISTRATION IN WHICH THERE WERE 500,000 OR MORE JOBS CREATED: 0.

(In fact, there were no months in the Bush Administration in which there were 400,000 jobs created).”

Link to full article on Business Insider
http://www.businessinsider.com/number-of-jobs-created-per-month-by-george-bush-2012-5

"If you want to live like a Republican Vote Democrat"
Harry S. Truman
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Moxo
Our enemies are in the GOP.
12:19 PM on 05/06/2012
The GOP already inflicted a failure on America with GW 'Dubya' Bush, so why on earth do they want to inlict another?

What does the GOP gain by destroying the income-stream of 99% of Americans?
HopeWFaith
We the People
02:52 PM on 05/06/2012
Because they are heavily invested in sending jobs offshore. They are making money hand over fist. And I mean that in the most literal of interpretations. Why would they help bring jobs back when it has been profits galore for them to send jobs offshore, and make a living off the debt of the US? They would not. The investment game is a tricky one. But the filthy rich understand it better than anyone. Its how they make their living, just reinvesting, selling derivatives, and raking in those profits off our poverty and job losses. They do not care one iota about you or me. The game is much more fun for them than helping poor Americans.

Only when you and I call our Reps and Senators, daily, weekly, without fail, when they cannot take another minute of hearing us call for sanity, will they stop this destruction of the nation. Its our voices, the 99% of us who must cry out, without fail, without stopping. We must make a very loud clamor and not give up. Then things will change. This nation was formed by people who couldn't take it any more. They came here to start over, to start fresh, to make a sane new path. We must be like them, if we are to change the direction of our national life. We must not give up. Never give up calling for policies which help the broadest number of Americans.
07:15 PM on 05/06/2012
you are so very much f/f!
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MiddleMolly
Working to better the USA!
07:42 PM on 05/06/2012
"They do not care one iota about you or me. The game is much more fun for them than helping poor Americans." So true.

The top level Repubs and their business man friends, have no use for anyone who isn't as welloff as they are. If we're not filthy rich, it must be because we are inferior in some way.
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joyz41
Standing for Fairness for All
11:47 AM on 05/06/2012
Great post, Paul Abrams! You are fanned!
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quillerm
10:55 AM on 05/06/2012
The democrat majority in Mass. has created an economic disaster which will continue to suppress job growth for decades. Mass. has the 5th Highest tax burden in the US which drives business out of the State. It will take more than a Republican Governor to turn it all around, the people must put the democrats into a minority in the Legislature. States suffering the most serious economic decline have one common factor, a democrat majority.
12:09 PM on 05/06/2012
I thought that the leader was responsible for everything good and had to take the blame for everything bad?
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beingthebest
try as I might, I'm only human
12:22 PM on 05/06/2012
lol...but it only takes a President and we can just ignore the GOP do-nothings for the last 4 years?
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Howard Scott Pearlman 59
09:52 AM on 05/06/2012
Romney was a miserable FAILURE as a JOBS GROWTH governor of Massachusetts !

Massachusetts ranked 47th in job growth under Romney !

Only 3 other states performed worse !

Howard Scott Pearlman
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quillerm
10:45 AM on 05/06/2012
Democrats have a veto proof majority in the Massachusetts Legislature. They develop the strategy for economic/job growth, budgets, etc.
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beingthebest
try as I might, I'm only human
12:23 PM on 05/06/2012
And the Republicans in the federal level blocked everything. What say you?
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MiddleMolly
Working to better the USA!
08:03 PM on 05/06/2012
And Mass is now 9th among the 50 states in job growth in 2012 to date.
DUSAA-1775
never moon a werewolf
11:45 AM on 05/06/2012
Hey Scottie-- is there a reason that you are quoting from the article? I am sure that most people here can read.

However I am very impressed with your math skills.

Good for you.
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fearthebetenoire
Lying's like 95% of what I do. In your job? Sure.
06:41 AM on 05/06/2012
"I'm not only better than the current President, I'm better than President Carter!"

"I will see your puny job numbers and bet you $10,000 that I can 'create' 500,000 jobs a month!"

"What did you say? How? Because my job creation record as a Governor was poor, because my job creation record as a Wall Street CEO was "job neutral," at best, and because I say so!"

Are these the actual positions of a serious candidate for President?

By the way, and only slightly off-topic, why does anyone keep bringing up CEO experience as any special qualification for the Presidency? The jobs are very different, and the requirements for success in each also differ in several significant ways.
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SShaw490
A man hears what he wants and disregards the rest
07:56 AM on 05/06/2012
He actually wasn't really a CEO of a business anyway. He bought and sold businesses. That process works like this:

(1) A business decides it's interested in selling out so they hire a broker to arrange a bidding process;
(2) Bidders look at limited data from the business and put in a preliminary bid;
(3) Highest bidder(s) get to fully examine the business, at which time the business becomes known in the industry as being on the block and becomes damaged versus other competitors;
(4) Bain, in particular, uses this time to systematically reduce their original bid that was only designed to drive off other bidders, knowing the business needs to sell;
(5) Simultaneously, Bain tells the business managers how much help they're going to provide, knowing full well that mostly they're going to provide crushing debt and impossible profit expectations;
(6) Also simultaneously, Bain is lying to outside investors about what a can't-miss opportunity this is, thus limiting Bain's exposure to loss and allowing Bain to charge exhorbitant management fees.

That's not the work of a CEO. That's the work of a private equity investor. It's a job well-suited to pathological liars, and it's no wonder Romney was so good at it.
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Schalaine
We are women. We vote.
11:10 AM on 05/06/2012
I do not want a pathological liar as President. And Romney lies...constantly.

Obama 2012.