Romney's Voodoo Economics

Romney's voodoo Economics

By Fubara David-West

Governor Romney's posture on the U.S. economy qualifies as a case of voodoo economics,
because it is based on nothing but a myth: business knows best; and a creed, which says that the
entire program of governmental public policy can be reduced to a slogan, lower taxes on job creators! What the presumptive Republican nominee for the presidency has going for him is
is that there is a huge population of Americans, for whom the myth is an appealing
cultural song, and the creed, the stuff of religious doctrine.

That is why, in spite of the fact the last Republican President, George Bush basically sold the
same kind of program to Americans, with all of the bravado of a Texas cowboy, Romney is now self-assuredly promoting it. President Bush embarked on his program after taking
office with a booming U.S. economy, and with Federal budget surpluses that were
projected to last well into the future. By the time he left office, eight short years later, his treasury department was alerting him to the fact that the US economy was facing a complete
melt-down, with huge Federal budget deficits, an American automobile industry on its death-
bed, cities and school districts in dire fiscal straits, businesses facing a credit freeze, the economy shedding hundreds of thousands of jobs every month and with the housing industry in such a bad shape, that trillions of dollars in middle-class wealth had been wiped out.

Trust me, the Republican presidential candidate, Romney says, I know about business and how to create jobs. Trust my hackneyed slogans, because I am not Obama! The interesting thing is that many Americans are actually paying serious attention to him, because at this moment, he
is tied with the president in the polls.