Friday, October 26, 2012
During the Presidential debates this year, do you remember that Mitt Romney claims that if he is elected president, that "We will create 12 million new jobs in just four years." Yes, he did claim that, but guess what.
Romney claims that his leadership would greatly improve the nation's economy and get people back to work. That sounds like allot of people, especially since we are just now coming out of a deep recession followed by what many would say was a lackluster of job growth after Barack Obama's 1st term as President.
Mitt Romney isn't the first person that said that job growth in the next four years will grow by some 12 million jobs. The chief economist at Moody's Analytics named Mark Zandi who is in the economic forecasting business. He claims that regardless of who wins the Presidency this year, it's not going to matter. He sifts through a lot of modeling and deep diving into industry-level economic data.
He claims that the housing market is going to break out and kick into gear. More homes will be built. Construction jobs will dramatically rise. Consumer spending will also dramatically rise. Retailing will go into another boom, and all of this will create jobs.
So the fact is that in the next 4 years, millions of jobs will be created. But Mitt Romney is already going to take the credit, because he also knows that it is most likely that millions of jobs will be created, This most likely will happen regardless of who becomes president. It most likely will happen anyway, and if Romney's elected and 12 million jobs are created, he most likely will get re-elected in 2016.
Of course, if the economic forecasters are right, we're poised for that more typical recovery over the next four years, no matter who is elected.