This slideshow requires JavaScript.

“I’m for Mitt Romney,” Bush told ABC News this morning as the doors of an elevator closed on him, after he gave a speech on human rights a block from his old home – the White House.

FROM TEAM OBAMA

President Bush has endorsed Governor Romney, and Governor Romney has endorsed a return to Bush-era economic policies: massive tax cuts for the wealthiest and no accountability for Wall Street, which led to huge deficits and tepid growth. Now Romney wants to double down on those same, failed policies – expanding upon the Bush tax cuts for millionaires and billionaires at a cost of $5 trillion, and, once again, allowing Wall Street to write its own rules. While President Obama has pursued policies that have helped create more than 4.2 million private sector jobs, revived manufacturing and the auto industry, Governor Romney would return to the same policies that dragged our economy down and punished the middle class.”—Ben LaBolt, Press Secretary

UNDER PRESIDENT OBAMA’S LEADERSHIP, THE ECONOMY HAS ADDED MORE THAN 4.2 MILLION PRIVATE SECTOR JOBS OVER 26 CONSECUTIVE MONTHS AND MANUFACTURERS ARE ADDING JOBS FOR THE FIRST TIME SINCE THE LATE 1990s

THE ECONOMY HAS ADDED MORE THAN 4.2 MILLION PRIVATE SECTOR JOBS OVER THE LAST 26 CONSECUTIVE MONTHS OF PRIVATE SECTOR JOB GROWTH

The U.S. Economy Has Added More Than 4.2 Million Private Sector Jobs In The Last 26 Months. In February 2010, the U.S. economy employed 106,773,000 people in the private sector. In April 2012, the U.S. economy employed 111,020,000 people in the private sector, gaining 4,247,000 jobs over the 26 month period. [Bureau of Labor Statistics, accessed. 5/4/2012]

Private Sector Job Growth Has Continued For 26 Consecutive Months.[Bureau of Labor Statistics, accessed 5/4/2012]

AMERICAN MANUFACTURERS ARE ADDING JOBS FOR THE FIRST TIME SINCE THE LATE 1990s

The U.S. Manufacturing Sector Has Added 489,000 Jobs Since January 2010.In January 2010, the U.S. manufacturing sector employed 11,458,000 people. In April 2012, the U.S. manufacturing sector employed 11,947,000 people, for a gain of 489,000 jobs. [data.bls.gov, accessed 5/4/2012]

Economic Activity In The Manufacturing Sector Expanded In April For The 33rd Consecutive Month. “Economic activity in the manufacturing sector expanded in April for the 33rd consecutive month, and the overall economy grew for the 35th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.” [Institute Of Supply Management, Manufacturing Report On Business, 5/1/12]

New York Times: “[Until 2010] There Had Not Been A Single Year When Manufacturing Employment Rose Since 1997.” “When the Labor Department reports December employment numbers on Friday, it is expected that manufacturing companies will have added jobs in two consecutive years. Until last year, there had not been a single year when manufacturing employment rose since 1997.” [New York Times, 1/5/2012]

UNDER PRESIDENT OBAMA’S LEADERSHIP THE ECONOMY HAS ADDED FIVE TIMES MORE PRIVATE SECTOR JOBS—INCLUDING MORE MANUFACTURING JOBS—THAN OVER AN EQUIVALENT PERIOD OF THE 2001 RECOVERY

IN THE CURRENT RECOVERY, THE ECONOMY HAS ADDED FIVE TIMES, OR 2.5 MILLION MORE PRIVATE SECTOR JOBS, THAN DURING THE 2000-2001 RECOVERY

Over The Last 34 Months Of The Current Recovery, From June 2009 Through April 2012, The U.S. Economy Has Added 3,087,000 Private Sector Jobs. In June 2009, the U.S. economy employed 107,933,000 people in the private sector. In April 2012, the U.S. economy employed 111,020,000 people in the private sector, gaining 3,087,000 private sector jobs over the 34 month period. [Bureau of Labor Statistics, accessed5/4/2012]

Over The 34 Months Following 2000-2001 Recession, From November 2001 Through September 2004, The U.S. Economy Added 564,000 Private Sector Jobs. In November 2001, the U.S. economy employed 109, 572,000 people in the private sector. In September 2004, the U.S. economy employed 110,136,000 people in the private sector. [Bureau of Labor Statistics, accessed. 5/4/2012]

Over The 34 Months Following 2000-2001 Recession, From November 2001 Through September 2004, The U.S. Economy Added 564,000 Private Sector Jobs. In November 2001, the U.S. economy employed 109, 572,000 people in the private sector. In September 2004, the U.S. economy employed 110,136,000 people in the private sector. [Bureau of Labor Statistics, accessed 5/4/2012]

THE ECONOMY HAS ADDED 222,000 MANUFACTURING JOBS OVER THE LAST 34 MONTHS OF THE CURRENT RECOVERY, WHILE IT LOST NEARLY 1.5 MILLION AT THE SAME POINT IN THE BUSH RECOVERY

The Economy Gained 222,000 Manufacturing Jobs Since June 2009, When The Most Recent Recession Officially Ended.  In June 2009, the U.S. manufacturing sector employed 11,725,000 people. In April 2012, the U. S. manufacturing sector employed 11,947,000 people, gaining 222,000 jobs since June 2009. [Bureau of Labor Statistics, accessed. 5/4/2012]  SEE PREVIOUS 5/4/12 LINK.

The Economy Lost Nearly 1.5 Million Manufacturing Jobs During The 34 Months Following The 2000-2001 Recession. In November 2001, the U.S. manufacturing sector employed 15,826,000 people. In September 2004, the U.S. manufacturing sector employed 14,330,000 people, a loss of 1,496,000 jobs since November 2001.  [Bureau of Labor Statistics, accessed 5/4/2012]

*******************************************************

<NOW COMPARE BUSH & ROMNEY’S POLICIES >

ROMNEY CANNOT SUBSTANTIATE HIS JOB CREATION CLAIMS

The Economy Gained 222,000 Manufacturing Jobs Since June 2009, When The Most Recent Recession Officially Ended.  In June 2009, the U.S. manufacturing sector employed 11,725,000 people. In April 2012, the U. S. manufacturing sector employed 11,947,000 people, gaining 222,000 jobs since June 2009. [Bureau of Labor Statistics, accessed5/4/2012]

The Economy Lost Nearly 1.5 Million Manufacturing Jobs During The 34 Months Following The 2000-2001 Recession. In November 2001, the U.S. manufacturing sector employed 15,826,000 people. In September 2004, the U.S. manufacturing sector employed 14,330,000 people, a loss of 1,496,000 jobs since November 2001.  [Bureau of Labor Statistics, accessed. 5/4/2012]

MITT ROMNEY: A RETURN TO THE FAILED ECONOMIC POLICIES OF THE PAST

Mitt Romney’s economic scheme would return to George W. Bush’s failed policies: more budget-busting tax cuts for the wealthy and fewer rules for Wall Street–the same formula that benefited a few but led to an economic crash and devastated the middle class.

LARGE TAX CUTS FOR THE WEALTHIEST

GEORGE W. BUSH

·        Economic policy centered around large tax cuts for the wealthiest Americans.

38% of tax cuts go to the top 1% of taxpayers.

·        Bush OMB Director Rob Portman said in 2007 that tax cuts had been a “driving force behind U.S. economic growth and job creation.”

Result: Added trillions to debt alongside the weakest economic expansion in postwar era – as over 600,000 private sector jobs were lost during the Bush Administration.

MITT ROMNEY

·        Economic policy centered around large tax cuts for the wealthiest Americans

·        Extends all of the Bush tax cuts in their entirety, including for the top 2%.

·        Provides an additional $5 trillion in tax cuts, with  39% of tax cuts go to the top 1% of taxpayers

BLOWING UP THE NATIONAL DEBT

GEORGE W. BUSH

·        Led the United States from record surpluses to record deficits with unpaid-for tax cuts, unpaid-for wars in Iraq and Afghanistan, and an unpaid-for Medicare prescription drug benefit

Result: Inherited $5.6 trillion 10-year surplus; left behind $8 trillion 10-year deficit for President Obama.

MITT ROMNEY

·        Proposes $5 trillion in tax cuts without naming a single tax loophole he would close.

·        Would raise the deficit by trillions, despite deep cuts to investments that support the middle class

LET WALL STREET SET ITS OWN   RULES

GEORGE W. BUSH

·        Slashed financial regulations, creating an environment that helped lead to the crisis.

·        Appointees took a chain saw to regulations and promised a “kindler, gentler” SEC.

Result: The worst financial crisis since the Great Depression – one that destroyed $19 trillion in wealth and 8 million private-sector jobs.

MITT ROMNEY

·        Repeals Wall Street reforms that prevent another crisis and protect families from financial protections.

·        Repeals Sarbanes-Oxley rules to prevent accounting frauds like Enron.

OUTSOURCING, NOT AMERICAN MANUFACTURING

GEORGE BUSH

·        Made no efforts to stop outsourcing, with CEA chair Greg Mankiw explaining that outsourcing “is probably a plus for the economy”

·        Former CEA chair Glenn Hubbard argued that “outsourcing is good for America” shortly after leaving office

Result: The U.S. lost 4.5 million manufacturing jobs over eight years, losing manufacturing jobs even when the economy was growing.

MITT ROMNEY

·        Enlisted Hubbard and Mankiw as top advisers – the same men who designed Bush’s policies.

·        Eliminates taxes on foreign profits, creating an incentive to move jobs overseas.

FAILING TO BUILD AN ECONOMY MEANT TO LAST

GEORGE BUSH

·        College costs paid by students after taking student aid into account grew by 72% over eight years.

·        American infrastructure was graded a “D” in 2009 by the American Society of Civil Engineers.

·        The U.S. made the least progress in innovation of 36 countries, according to the ITIF think tank.

Result: Median household income fell, inequality and poverty rose, and an economic expansion was the weakest on record.

MITT ROMNEY

·      Cuts Pell scholarship by about $1,000 per student.

·      Eliminates Head Start for 200,000 children a year.

·      Cuts research and development by nearly 20%, cutting 1,600 NIH grants a year.

·      Cuts clean energy programs by nearly 20%, derailing efforts to put a million electric vehicles on the road.

JUST THE FACT, FOLKS!