“After the stimulus was passed, the White House promised the economy would now be growing at 4.3 percent, over twice as fast.”
--Mitt Romney, Oct. 26, 2012
“New business starts are at a 30-year low because entrepreneurs and investors are sitting on the sidelines, weary from the President’s staggering new regulations and proposed massive tax increases.”
--Mitt Romney, Oct. 26, 2012
These lines from a major economic speech by the Republican presidential contender are interesting examples of how politicians selectively pick and choose data to make their case.
do you think it's ok to deceive by omission? all fair in love and war of which politics is neither, think someone ought to pull Romneys coat.
In fact, the projection was a reduction from what the White House had predicted earlier in the year (4.6 percent). And 4.3 percent was not necessarily out of the line—the same page shows that the nonpartisan Congressional Budget Office predicted growth of 4.1 percent.
The CBO and White House budget office are required to make such long-term projections because government budgets are set for 10 years. As the page also shows, the Blue Chip consensus of outside economists does not project that far ahead, as it is a bit of fool’s errand. Who can really predict with confidence what economic growth will be in two years?
is this the process Romney used to calculate his 5 trillion dollar, 20% 4 Pinocchio's?
