11-06-2012, 08:48 PM
Romney wants to try the same supply side economics that didn't produce the promised results when Reagan and Bush I tried it and didn't work again when Bush II tried it. He also wants to try what is essentially growth through austerity. Britain tried that and it failed. Every country that has tried it in this current economic environment has had it fail.
Obama tried demand side economics - a stimulus - which is the same thing every president since WWII has done during recessions. It worked, but it didn't work well enough to really get the economy cooking strongly (hence, the weak recovery). It was a misjudgment, but it was a judgment based on the most common view of economists at the time and probably the political reality that he couldn't get a bigger stimulus package passed.
Obama tried demand side economics - a stimulus - which is the same thing every president since WWII has done during recessions. It worked, but it didn't work well enough to really get the economy cooking strongly (hence, the weak recovery). It was a misjudgment, but it was a judgment based on the most common view of economists at the time and probably the political reality that he couldn't get a bigger stimulus package passed.