While present election banter has touched a wide range of issues ranging from abortion policies to foreign policy, the one issue that has always enticed bipartisan attention is the issue of the economy. What are your policies Mr. President? Governor Romney? Under either of you, we the people are concerned about our paychecks, or worried about a lack thereof. I promise that the blogging that I do do between now and election time will be as free of my own partisan opinions as possible. We’ll stick to the facts here, and the decision will be as it always has been, yours.
As I’ve sifted through articles looking for nonpartisan third party economic forecasting agencies, the blaring statistic I’ve repeatedly seen is the macroeconomic outlook moving forward, and the effect it will have on the jobs market, private and public. Mitt Romney’s advisors have forwarded a platform promising the creation of 12 million jobs if he is elected President, by the year 2016. According to Moody’s Analytics (www.economy.com), 12 million jobs are in fact, forecasted for creation within the next 4 years regardless of whoever is elected President. This figure assumes that the economic recovery will proceed at a continually strong pace, as well as rules out the chance of another recession. Use this as a benchmark as you do your research (which I assume everyone does before voting) pertaining to job creation—this averages out to 250,000 jobs per month and 3 million jobs per annum.
However, upon further digging…
Realistically speaking, 3 million jobs per year is a very nice benchmark indeed. Since 1990, this benchmark has been achieved only 5 times—1994, 1995, 1997, 1998, and 1999. A promise to reach 12 million jobs after 4 years is thus, optimistic, as it assumes that NOTHING goes awry in an increasingly divided political society and an economy composed of firms that statistically hire less than they used to, and yet this promise is also the status quo according to Moody’s Analytics. Inform your friends and family of this reputable benchmark unmarred by political fluff, and weigh that against what your candidate has promised you under his plan.