Mitt Romney has staked his candidacy on the idea that he knows "how jobs are created and how jobs are lost." He touts the years he spent as a corporate buyout specialist, where he bought and bankrupted companies, laying off workers and putting profits for himself and his investors first.
But you rarely hear Romney brag about his record as governor of Massachusetts—those four crucial years when he took his 20 years of experience as a corporate buyout specialist and applied those lessons to governing. That's because when it came to the economy, Romney failed to deliver on the major promises he made to the people of Massachusetts.
And he's campaigning on those exact same empty promises today.
So let's take a look at Romney's record as governor—because we can't let history repeat itself on the national stage.
Jobs: Under Romney's watch, Massachusetts plummeted from 36th to 47th out of 50 in job creation. Manufacturing jobs fell at twice the national rate—which was the third-worst record in the country. When Romney came into office, the Bay State's unemployment rate was lower than the national average—but higher than the national average when he left.
Debt and deficit: Romney left behind a $1 billion deficit, making use of what his successor, Gov. Deval Patrick, called "all kinds of patches and plugs" to hide the extent of the shortfall. Massachusetts' long-term debt went up by more than $2.6 billion under Romney—a 16 percent increase in just four years. On top of that, Massachusetts had the highest per capita debt in the country.
Taxes: In just his first year in office, Romney raised fees more than any other governor. In all, he raised taxes and fees by roughly $750 million per year. He raised fees on Massachusetts residents 1,000 times on things like hospitals, nursing homes, vehicles, buying a house, the blind, disabled people, and getting married. When he left office, the tax burden had increased $1,200 per person, yet he demanded a tax break that favored the wealthy—giving 278 of the wealthiest citizens more than $75 million.
Size of government: Instead of streamlining government as promised, state spending under Romney increased by 6.5 percent each year. And under Romney, state government jobs grew at six times the rate of private-sector jobs.
Romney economics didn't work then, and it won't work now. Read more at barackobama.com/romneyeconomics.