<html><body><div style="color:#000; background-color:#fff; font-family:times new roman, new york, times, serif;font-size:12pt"><div style="RIGHT: auto"><SPAN style="RIGHT: auto">To simplify matters; Buyer Beware! All <SPAN style="RIGHT: auto" id=misspell-0><SPAN>politicians</SPAN></SPAN> are as is, they have no <SPAN style="RIGHT: auto" id=misspell-1><SPAN>warranty</SPAN></SPAN> for <SPAN style="RIGHT: auto" id=misspell-2><SPAN>performance</SPAN></SPAN>, regardless of oral statements made by them, or their supporters.</SPAN></div>
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<div style="RIGHT: auto"><SPAN style="RIGHT: auto">When voting for <SPAN style="RIGHT: auto" id=misspell-3><SPAN>national</SPAN></SPAN> office holders, there are no right answers, just degrees of how wrong.</SPAN></div>
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<div style="BACKGROUND-COLOR: transparent; FONT-STYLE: normal; FONT-FAMILY: times new roman, new york, times, serif; COLOR: rgb(0,0,0); FONT-SIZE: 16px; RIGHT: auto"><SPAN style="RIGHT: auto">Donovan J. Arnold</SPAN></div>
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<DIV style="BORDER-BOTTOM: #ccc 1px solid; BORDER-LEFT: #ccc 1px solid; PADDING-BOTTOM: 0px; LINE-HEIGHT: 0; MARGIN: 5px 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; HEIGHT: 0px; FONT-SIZE: 0px; BORDER-TOP: #ccc 1px solid; BORDER-RIGHT: #ccc 1px solid; PADDING-TOP: 0px" class=hr contentEditable=false readonly="true"></DIV><B><SPAN style="FONT-WEIGHT: bold">From:</SPAN></B> Nicholas Gier <ngier006@gmail.com><BR><B><SPAN style="FONT-WEIGHT: bold">To:</SPAN></B> vision2020 <vision2020@moscow.com> <BR><B><SPAN style="FONT-WEIGHT: bold">Sent:</SPAN></B> Thursday, October 18, 2012 10:29 AM<BR><B><SPAN style="FONT-WEIGHT: bold">Subject:</SPAN></B> [Vision2020] Romney's Promise of 12 million Jobs Obviously has <SPAN id=misspell-5 class=mark>NoEconomic</SPAN> Basis<BR></FONT></DIV><BR>
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<H1> Bad Arithmetic: Top Romney Economist Admits ‘Jobs Plan’ Numbers Don’t Compute</H1>
<div>By Joe <SPAN id=misspell-6 class=mark>Conason</SPAN>, <I>Nation of Change, </I>Oct. 18, 2012</div>
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<div style="BACKGROUND-COLOR: rgb(255,255,255); MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">When innocent citizens asked about unemployment last night at the town hall presidential debate on Long Island, would Mitt Romney again tout his plan to create 12 million jobs? Unable to Etch-a-Sketch away that often repeated claim — one that he has hired several conservative economists to endorse — the Republican candidate had little choice. It's up on his campaign website, it's there in his own well-advertised words, and it is the central appeal of his candidacy for the non-billionaire voting bloc.</div>
<div style="BACKGROUND-COLOR: rgb(255,255,255); MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">But there is a serious problem with that promise. It now stands exposed as a complete fraud by Glenn <SPAN id=misspell-7 class=mark>Kessler</SPAN>, the Washington Post fact-checker, who pinned upon it his highest (lowest?) prize of four “<SPAN id=misspell-8 class=mark>Pinocchios</SPAN>.”</div>
<div style="BACKGROUND-COLOR: rgb(255,255,255); MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">Here is how <SPAN id=misspell-9 class=mark>Kessler</SPAN> reached that troubling conclusion. After requesting the specific numbers behind Romney's jobs claim, he soon discovered that the citations offered by the campaign made no sense, and, in fact, the attempted deceptions were transparently obvious.</div>
<div style="BACKGROUND-COLOR: rgb(255,255,255); MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">Romney's economic program has three basic elements that he says will produce those 12 million jobs, as outlined in a TV ad quoted by <SPAN id=misspell-10 class=mark>Kessler</SPAN>:</div>
<div style="BACKGROUND-COLOR: rgb(255,255,255); MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px"><I>First, my energy independence policy means more than 3 million new jobs, many of them in manufacturing. My tax reform plan to lower rates for the middle class and for small business creates 7 million more. And expanding trade, cracking down on China and improving job training takes us to over 12 million new jobs."</I></div>
<div style="BACKGROUND-COLOR: rgb(255,255,255); MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">In the studies cited by the Romney campaign, however, those figures practically debunked themselves.</div>
<div style="BACKGROUND-COLOR: rgb(255,255,255); MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">The study that supposedly justifies the 7 million jobs produced by tax reform, written by a Rice University professor, covers a 10-year period — not four years.</div>
<div style="BACKGROUND-COLOR: rgb(255,255,255); MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">The study supposedly proving that his energy program will produce 3 million jobs is a <SPAN id=misspell-11 class=mark>Citigroup</SPAN> report that doesn't even examine Romney's plan; it includes fuel-economy requirements he has criticized and projects an 8-year <SPAN id=misspell-12 class=mark>timeline</SPAN>. And the International Trade Commission report that supposedly shows how an intellectual property crackdown on China will produce those final 2 million jobs is similarly distorted, using outdated employment figures and ridiculous speculation to reach a conclusion that even its authors warn is "unclear."</div>
<div style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">For the coup <SPAN id=misspell-13 class=mark>de</SPAN> grace, <SPAN id=misspell-14 class=mark>Kessler</SPAN> quoted an email from Romney economic <SPAN id=misspell-15 class=mark>advisor</SPAN> R. Glenn Hubbard confessing that "the 3+7+2 does not make up the 12 million jobs in the first four years (different source of growth and different time period)."</div>
<div style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px"><SPAN id=misspell-16 class=mark>Kessler</SPAN> didn't attempt to estimate what, if anything, those studies might indicate about the results of Romney's plan. There may well be no substance to them at all. But it is possible to estimate a best-case based on a revised <SPAN id=misspell-17 class=mark>timeline</SPAN>, taking 40 percent of the expected tax-reform-related jobs plus 50 percent of the energy-independence-related jobs, which comes to a measly 4.3 million jobs (the China-crackdown jobs are too phony to include at all).</div>
<div style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">Describing the deficiencies of the Republican program, a famous man once said, "it's arithmetic" — and as usual, the Romney campaign can't seem to add or subtract without cheating.</div>
<div style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 17px; FONT-SIZE: 14px">So much for the "Jobs Plan." What understandably puzzled <SPAN id=misspell-18 class=mark>Kessler</SPAN> — who has never hesitated to pillory Barack Obama — is why the Romney campaign would send out supporting material that can be so easily and simply dismissed as bogus. The answer may be that, with due respect to the <I>Post, </I>they can reasonably expect to get away with such <SPAN id=misspell-19 class=mark>fakery</SPAN> in a media environment where lies usually go unchallenged.</div>
<div>This article was published at <SPAN id=misspell-20 class=mark>NationofChange</SPAN> at: http://www.nationofchange.org/bad-arithmetic-top-romney-economist-admits-jobs-plan-numbers-don-t-compute-1350567409. All rights are reserved. </div></DIV></DIV><BR>=======================================================<BR>List services made available by First Step Internet,<BR>serving the communities of the <SPAN id=misspell-21 class=mark>Palouse</SPAN> since 1994.<BR> <A href="http://www.fsr.net/" target=_blank>http://www.fsr.net/</A><BR> <SPAN id=misspell-22 class=mark>mailto</SPAN>:<A href="mailto:Vision2020@moscow.com" ymailto="mailto:Vision2020@moscow.com">Vision2020@moscow.com</A><BR>=======================================================<BR><BR></DIV></DIV></div></body></html>