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Press Release: Mitt Romney Will Create 12 Million New Jobs

October 16, 2012

Mitt Romney's Economic Plan Will Create 12 Million Jobs In His First Term:

  • "History Shows That A Recovery Rooted In Policies Contained In The Romney Plan Will Create About 12 Million Jobs In The First Term Of A Romney Presidency." "If we had a recovery that was just the average of past recoveries from deep recessions, like those of 1974-1975 or 1981-1982, the economy would be creating about 200,000 to 300,000 jobs per month. By changing course away from the policies of the current administration and ending economic uncertainty, as proposed by the Romney plan, we expect that the current recovery will align with the average gains of similar past recoveries. History shows that a recovery rooted in policies contained in the Romney plan will create about 12 million jobs in the first term of a Romney presidency." (R. Glenn Hubbard, N. Gregory Mankiw, John B. Taylor, and Kevin A. Hassett, "The Romney Program for Economic Recovery, Growth, and Jobs," White Paper, 8/7/12)

Multiple Forecasts — Including One From President Obama Himself — Have Found That Policies Enabling A Real Recovery Will Result In 12 Million New Jobs Over The Next Four Years:

  • Moody's: Moody's Analytics, assuming policies that eliminate uncertainty and take into account long-term deficit deals, projects that an economic recovery will occur that will create 12 million jobs in the next four years. (The Washington Post, 8/3/12)
  • Macroeconomic Advisers: In April, Macroeconomic Advisors also predicted a gain of 12.3 million jobs over the next four years. (The Washington Post, 8/31/12)
  • President Obama's Council Of Economic Advisers: President Obama's own February economic forecast predicts that a real economic recovery will generate 12 million jobs from over the next four years — but unfortunately his failed policies have blocked that recovery. (Council of Economic Advisers, 2/12)

The Different Components Of Mitt Romney's Pro-Growth Plan Will Enable Robust Job Growth Over The Next Four Years And Beyond:

  • Governor Romney's Bold Tax Reform Plan — Independent Of The Other Parts Of His Fiscal Plan — Will Help Create Nearly 7 Million Jobs Over The Next Decade. "The simulations show that such a base-broadening, rate-reducing reform would have significant positive economic effects on the U.S. economy, including increases in investment, the capital stock, employment, and real wages. These gains are in addition to increases in GDP, investment, consumption, and employment that will occur as the U.S. economy continues to recover from the recent recession and as the population grows. Specifically, I find that the reform would, if passed immediately, increase GDP relative to baseline by 5.4 percentage points over the next decade, while creating 6.8 million jobs." (James A. Baker III Institute for Public Policy, Rice University, 8/3/12)
  • North American Energy Independence Would Create More Than Three Million New Jobs By 2020 — Including More Than A Million Manufacturing Jobs. One study estimates that the impact of a plan like Governor Romney's that makes the US energy independent would create as many as 3.6 million jobs by 2020. (Citigroup, 3/20/12)
  • Confronting The Unfair Trade Practices Of Countries Like China — Which President Obama Has Failed To Do — Will Contribute To Economic Growth And Create An Estimated 2 Million Jobs. According to the federal government's International Trade Commission, proper intellectual property protection in China could create 2.1 million American jobs, and experts estimate that ending China's currency manipulation could create hundreds of thousands more. (International Trade Commission, 5/11)

Mitt Romney, Press Release: Mitt Romney Will Create 12 Million New Jobs Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/303147

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