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Security

Stumping For Romney, Bolton Calls For More Military Spending At The Expense Of Health Care

The late David Levine's caricature of Bolton

Campaigning on behalf of presumptive GOP presidential nominee Mitt Romney, Bush administration U.N. ambassador John Bolton told the crowd at a fundraiser (PDF) for the Polk County Republicans of Iowa that the U.S. should focus on military spending at the expense of domestic spending on issues like health care.

In Iowa, the typically über-hawkish Fox News commentator pleaded with event attendees to support Romney even though he “may not have been your perfect candidate,” and later told the crowd:

A dollar well spent on American defense is a lot different than a dollar spent with the Department of Health and Human Services. It’s qualitatively different.

Romney is trying to base his campaign for president on his (dubious) record as a job creator (at the expense of all other issues, including Bolton’s forté, foreign policy).

But Bolton’s idea won’t help Romney’s campaign theme. He’s right: Military spending is “qualitatively different,” but not quite in the way that Bolton means. According to a University of Massachusetts, Amherst, study, military spending creates fewer jobs than other government spending. Here’s a chart published in the study:

So actually, a dollor spent on the military is “different”: it’s less valuable in terms of job creation than spending on government programs such as those administered precisely by the Department of Health and Human Services. This, however, will probably be news to Mitt Romney and his generously-spending militaristic advisers. What shouldn’t be news to the Romney campaign however, is Bolton’s push to rob social security and health care spending to give more money to the military.

Economy

Romney Thinks HP CEO Would Have Been A Great Governor, Even Though Her Company Is Bleeding 27,000 Jobs

Hewlett Packard has announced that they will be laying off 27,000 people — eight percent of their staff– after losses of over a billion dollars in the last year.

Mitt Romney, though, thinks that HP’s CEO would make a great governor.

Just last week, Romney stated that if HP CEO Meg Whitman had won her bid for governor, the state of California would be in a much better financial situation:

I wish Californians had elected Meg Whitman. She would have been more successful and explained to Californians the need to cut back on spending and eliminate unnecessary programs. There are other states that have very different records. I think it’s interesting that the state with the highest or among the highest tax rates in the nation also has the worst or near the worst deficit.

California does have a devastatingly high unemployment rate — 10.9 percent — but if all of the HP workers who are getting laid off lived in the state, its unemployment rate would be pushed over the 11 percent line.

Meanwhile, the spending cuts Whitman and Romney advocate wouldn’t actually help the state economy. As Center for American Progress economist Adam Hersh noted in 2011, the states that have cut the most spending have shed the most jobs.

Economy

Romney Says His Policies Will Reduce Unemployment To Already Projected Rate By 2016

Presumptive Republican presidential nominee Mitt Romney has told voters that his election “would be very positive news to the American economy,” and that by voting for him, voters could spark an economic turnaround.

Romney continued that narrative today, telling Time Magazine’s Mark Halperin that his policies would reduce unemployment to 6 percent by the end of his first term in 2016:

ROMNEY: Over a period of 4 years, by virtue of the policies that we put in place, we get the unemployment rate down to 6 percent, perhaps a little lower.

Watch it:

Though 6 percent unemployment is significantly lower than the current 8.1 percent rate, the feat isn’t all that remarkable. In fact, it is exactly where multiple government agencies project unemployment will be at the end of that time frame. The Congressional Budget Office predicts that unemployment will average 6.3 percent in 2016; the Office of Management and Budget, meanwhile, projects unemployment will hit 6.1 percent and ultimately fall below 6 percent the same year.

Update

A few weeks ago, Romney said that anything “over 4% is not cause for celebration.”

NEWS FLASH

Nebraska Governor: Let’s Vote On Whether LGBT People Should Be Protected From Discrimination | After Omaha passed an LGBT nondiscrimination ordinance in March, Nebraska attorney general Jon Bruning (R) issued an opinion that such policies were unconstitutional. Since then, Lincoln passed its own protections anyway. Now, Gov. Dave Heineman (R) believes both policies should be put “to the vote of the people.” In other words, Heineman believes that the majority should have the opportunity to vote on whether a minority is protected from the majority. Republicans claim to care about employment, but inviting voters to decide whether they want to be able to discriminate or not does nothing to help keep the LGBT community in their jobs.

Economy

GOP Governors Contradict Romney, Tout Job Growth And Improving Economy

Presumptive Republican presidential nominee Mitt Romney has based his campaign on President Obama’s handling of the economy, telling voters that Obama made the economy worse and that he is better suited to fostering a recovery.

Republican governors in states across the country, including some states that will play a pivotal role in deciding the November election, are taking a different view of the situation. Florida Gov. Rick Scott (R), for instance, issued a press release this morning touting “encouraging indicators that Florida’s economy is steadily moving in the right direction,” telling his constituents that nearly a quarter-million jobs were available:

SCOTT: Today’s unemployment report adds to the series of encouraging indicators that Florida’s economy is steadily moving in the right direction. With 243,594 job openings listed by various help-wanted websites and our unemployment rate down 2.2 points to 8.7%, more Floridians are finding new jobs throughout the Sunshine State.

Scott isn’t alone. Virginia Gov. Bob McDonnell’s (R) web site featured a blog post touting the “thousands of Virginians working again” and the ways in which the state’s economy is recovering:

MCDONNELL: Virginia is growing strong again. Through a bipartisan effort in Richmond, and the hard-work, innovation and dedication of the people of Virginia, our economy is recovering. There is a lot to celebrate in our Commonwealth. With unemployment at over a 3-year low, agricultural exports at a record high, and thousands of Virginians working again, this is a great time to recognize all the great things happening in our tremendous Commonwealth.

And during an April event with Romney, Ohio Gov. John Kasich (R) told Otterbein University students that there are tens of thousands of open jobs and that “we’re doing much better in Ohio now“:

KASICH: We have a web site called Ohio Means Jobs. There’s probably about 80,000 jobs listed on there. … Look through that, and you’re going to find a lot of exciting opportunities. … There’s a lot of really exciting things in this state where you can go and work.

Across the country, in fact, unemployment rates are falling and jobs are returning to state economies, as the U.S. Bureau of Labor Statistics’ latest jobs report detailed last week. As Romney continues to ignore the fact that the economy is recovering, facts — and the Republican governors who have endorsed him — are telling a different story.

NEWS FLASH

Wisconsin Lost 6,200 Private Sector Jobs In April According To Jobs Report Scott Walker Won’t Cite | Wisconsin Gov. Scott Walker (R) dismissed the U.S. Bureau of Labor Statistics’ April jobs report even before it came out, and now, it’s easy to see why. The report, released yesterday, found that the state lost 6,200 private sector jobs in April. The net loss was 5,900 jobs, adding to a total for a state that led the nation in job losses over the last year. Earlier this week, Walker released jobs numbers based on another survey that showed the state added 23,300 jobs over the last year. However, that survey uses numbers that are “estimations based on surveys and do not represent a census of jobs, per se,” according to Wisconsin’s own Department of Workforce Development.

NEWS FLASH

Romney Flips Back To Claim That Bain Capital Created 100,000 Jobs | Presumptive Republican presidential nominee Mitt Romney is back to claiming that his former private equity firm, Bain Capital, helped create at least 100,000 jobs, telling conservative radio host Ed Morrisey that “we were able to help create over 100,000 jobs.” The Romney campaign used the 100,000 number at the outset of the campaign, then admitted it was bogus, started using it again, couldn’t answer challenges from reporters, and finally gave the number a massive downgrade to a mere “thousands” earlier this week. There’s still no evidence backing up the claim, other than a right-wing editorial endorsing Romney. An ad from Romney’s 1994 Senate campaign, meanwhile, claimed that the firm created 10,000 jobs — though there’s little evidence to support that either.

Economy

CHART: Scott Walker Has A Long Way To Go To Keep His Job Creation Promise

Gov. Scott Walker (R-WI) came into office on the promise to create 250,000 jobs in his first term. He then, of course, eschewed that goal in order to focus on busting Wisconsin’s public sector unions.

Wisconsin, in fact, saw the largest decrease in employment last year, making it one of only four states to lose jobs. But Walker on Saturday doubled down on his promise to create 250,000 jobs:

Gov. Scott Walker recommitted Saturday to his pledge to create 250,000 private-sector jobs by 2015, a promise all the more difficult to achieve since he first made it because of anemic job growth during his tenure. [...]

“It’s a commitment I made in 2010 and it’s a commitment I make today,” Walker said.

As Menzie Chinn noted as Econbrowser, Walker has a long way to go to make that happen. The green line represents the pace of job creation Walker needs to attain, while the blue line is what’s actually happening:

Of course, Walker could always use the trick pulled by Gov. Rick Scott (R-FL) and simply pretend that his promise on jobs never happened (video evidence to the contrary).

Election

Romney Campaign Massively Downgrades The Number Of Jobs It Claims He Created From 100,000 To ‘Thousands’

In its effort to sell Mitt Romney as someone who understands the economy and knows how to create jobs, one of his campaign’s early talking points was that he helped create 100,000 jobs during his tenure at Bain Capital. The campaign repeated the claim throughout the primary, despite a glaring lack of evidence to support it (even Sarah Palin doubted it).

Romney eventually stopped repeating the talking point, which advisers had difficulty defending under pressure, and now it seems Boston has completely Etch A Sketched the number and severely lowered the number of jobs Romney is supposed to have created at Bain.

BuzzFeed’s Zeke Miller reports that, in the wake of the Obama campaign’s new ad attacking Romney’s record at Bain, the “new Romney jobs math” is significantly more modest than the old. This time, the campaign is asserting that Romney created a meager and vague “thousands of jobs” at Bain and “tens of thousands” of jobs as governor of Massachusetts.

This is nothing less than an admission from the Romney campaign that their 100,000 jobs claim was entirely bogus, and acceptance that Romney created vastly fewer jobs than he claimed he had just a few months ago. It’s a welcome return to reality, but calls into question any piece of evidence the campaign puts forward. (In 1994, he claimed in an ad that he created 10,000 jobs at Bain.)

Meanwhile, even the “thousands of jobs” figure should be suspect, as the evidence the campaign offers to support it is an editorial from the right-wing Washington Examiner endorsing Romney. Could the Romney campaign not find a single better piece of evidence — a news article, government data, or economist’s estimate, for instance — than an unsubstantiated opinion article from a paper that is simultaneously declaring that it favors Romney’s election?

And his assertion on his record as governor also fails to include the context that his state was 47th out of 50 on job creation.

NEWS FLASH

Number Of Senior Citizens Working Doubled To Record 7.2 Million In Last 15 Years | The number of Americans working has dropped by 4.4 million since the beginning of the Great Recession, but the number of older Americans in the workforce rose more than 25 percent over the same time period, the New York Times reports. There are now a record 7.2 million Americans age 65 and over in the workforce, double the number 15 years ago. The increase has been driven, at least in part, by a need for income after 401(k)s were decimated by the financial crisis, an increase in the Social Security retirement age, and the decrease in the number of workers who retire with pension benefits.

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