Tags: Romney | Obama | Policy | Europe

Romney: Obama Policies Turning Our Economy Into Europe

By    |   Wednesday, 07 March 2012 01:18 PM

After a lukewarm performance in the Super Tuesday primaries, Republican presidential front-runner Mitt Romney is on the warpath against President Barack Obama’s economic policy.

Indeed, Obama is making the U.S. economy resemble the troubled version in Europe, the former Massachusetts governor tells CNBC.

While the unemployment rate now stands at 8.3 percent, the nation can get back to 4 or 5 percent, he says. “This new 8 percent is an effort on the part of the administration to try declaring victory,” Romney says.

Editor's Note: You Deserve to Know What Obama and Bernanke Are Hiding From Americans

“What he [Obama] is trying to get us used to is the European scale of unemployment.” It’s no surprise that European-style policy would create European levels of joblessness, Romney says.

The eurozone unemployment rate hit a record 10.7 percent in January.

“And he [Obama] has adopted European policies with healthcare, taxation, regulation, energy. We are becoming a carbon copy of the sad European nations that have been struggling with poor economic conditions.”

Romney has several ideas for spending cuts to curb the $1 trillion-plus budget deficit.

"Subsidies for Amtrak, funding for Planned Parenthood, a National Endowment for the Arts and Humanities — some of these things are going to eliminate federal spending," he says.

To be sure, those areas represent a drop in the bucket of total government spending. Without entitlement reform, the deficit won’t shrink in any meaningful way. But any talk of entitlement reform won’t go very far in an election year.

Editor's Note: You Deserve to Know What Obama and Bernanke Are Hiding From Americans

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Wednesday, 07 March 2012 01:18 PM
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