Paul Krugman: The Optimism Cure
Mitt Romney is optimistic about optimism. In fact, it’s pretty much all
he’s got. And that fact should make you very pessimistic about his
chances of leading an economic recovery.
As many people have noticed, Mr. Romney’s five-point “economic plan” is
very nearly substance-free. It vaguely suggests that he will pursue the
same goals Republicans always pursue — weaker environmental protection,
lower taxes on the wealthy. But it offers neither specifics nor any
indication why returning to George W. Bush’s policies would cure a slump
that began on Mr. Bush’s watch.
In his Boca Raton meeting with donors, however, Mr. Romney revealed his
real plan, which is to rely on magic. “My own view is,” he declared, “if
we win on November 6, there will be a great deal of optimism about the
future of this country. We’ll see capital come back, and we’ll see —
without actually doing anything — we’ll actually get a boost in the
economy.”
Are you feeling reassured?
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