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Romney Messes Up and Tells the Truth About Austerity

From William Black on New Economic Perspectives, we have When Romney Messes Up and Tells the Truth About Austerity.

The latest example is his May 23, 2012 interview with Mark Halperin in Time magazine.

“Halperin: Why not in the first year, if you’re elected — why not in 2013, go all the way and propose the kind of budget with spending restraints, that you’d like to see after four years in office?  Why not do it more quickly?

Romney: Well because, if you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5%.  That is by definition throwing us into recession or depression.  So I’m not going to do that, of course.”

So Romney is castigating President Obama for failing to do what Romney himself says he would not do if he became President.  He also admits to knowledge that for the most part he pretends he doesn’t have.  That knowledge being, that shrinking the federal budget at the wrong time would throw us into a recession or depression.  This is exactly what the professional economists have been saying for the past 60 or 70 years.

Was it better to think that Romney just didn’t know, or to find out that Romney knows full well what to do, but will say anything to undermine recovery while a Democratic President is in office?

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