Days before the president reveals his plan, the GOP frontrunner provides his vision. How does Romnemployment stack up?
As a management consultant, Republican presidential candidate Mitt Romney made a living by telling firms to cut jobs. But he wants Americans to know that he can create jobs too. The former Massachusetts governor released his plan for job creation this week, which will coincide nicely with President Obama's Thursday speech on the topic. How are his ideas? As you might expect, some are good, some are bad, some are okay, and some are irrelevant.
Romney's plan obviously leans to the right, but he's further to the center than most other potential GOP nominees, like Rep. Michelle Bachman, Gov. Rick Perry, or Rep. Ron Paul. That provides an interesting spectrum of ideas from his plan. Below I'll evaluate some highlights that stand out from his "Believe in America." The analysis is focused on how these ideas would help to solve the unemployment problem in the near-term. That's the clear challenge for the U.S. economy at this time.
Increasing Energy Production
Romney provides a lengthy explanation of ways in which he would increase domestic energy production, particularly for carbon-based resources. These ideas aren't likely to excite green energy advocates, but they are practical. Not only would additional production create jobs, but additional supply would help to keep oil prices down. The summer's slowdown in hiring was due in large part to rising energy prices dampening consumer confidence and spending.