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Four economic policy advisors to the Romney presidential campaign —
Glenn Hubbard, Gregory Mankiw, John Taylor, and Kevin Hassett—predicted yesterday that former Massachusetts Gov. Mitt Romney’s economic policy platform would
create 200,000 to 300,000 jobs per month, culminating in
12 million new American jobs by the end of a would-be President RomneyÂ’s first term. In fact,
a reasonable assessment of Gov. RomneyÂ’s economic policy platform indicates it would likely
cost the U.S. economy at least
360,000 jobs in 2013 alone.
Back in 2001, as chairman of President BushÂ’s Council of Economic Advisers, Hubbard predicted that tax cuts slanted disproportionately to Americans in the topmost tier of income and wealth distribution would "quickly deliver a boost to move the economy back toward its long-run growth path," starting with adding 300,000 more jobs and half a percentage point to the 2002 growth rate.
Then in early 2003, as President Bush proposed another round of tax cuts,
Hubbard predicted these would
add another 1.4 million jobs to the U.S. economy, over and above the 3.1 million jobs the economy would create on its own from natural economic growth in that time.
Mankiw — who
took over for Hubbard as chairman of the Council of Economic Advisers later in 2003—
co-signed a letter with Hassett (then-economist at the American Enterprise Institute) to President Bush
“enthusiastically” endorsing more tax cuts because “it is fiscally responsible and
it will create more employment [and] economic growth.”
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