One of the detrimental effects of America’s higher education system churning out an over-abundance of MBAs is the equally over-abundance of so-called economic experts. However, corporate malfeasance, greed, tax avoidance, and outsourcing American jobs for higher profits does not make one an economic expert; it just means they will take any steps necessary to increase their bottom line. America suffered through eight years of an MBA president and his policies created the worst economic crisis since the Great Depression, and as the economy makes a slow, but steady, recovery, another MBA is hoping to become the next Republican to preside over another Great Recession and more likely, a Great Depression. The latest MBA seeking to ruin America’s economy is Willard Romney and his promise to exceed Bush’s economic expertise sends a clear message that just because he holds an MBA, it does not qualify him to be president.
After a report out yesterday from the Labor Department that the nation’s employers produced a net gain of 115,000 jobs in April and the unemployment rate dropped to 8.1 percent, Romney attributed the recovery to President Obama’s failed economic policies. In a letter ahead of the President’s visit to Ohio, Romney said, “Mr. President, forgive me for being blunt, but when it comes to economic affairs, you’re out of your depth. I’ve learned a thing or two about how government policies can kill private investment and stifle job creation and I have a plan to get government out of the way.” Romney does have a plan, but it is George W. Bush’s economic policies that created the loss of jobs and nearly destroyed the nation’s economy.
Romney’s economic plan is a repeat of Bush’s MBA economic mastery that gave over $4 trillion in tax cuts to the wealthy and deregulated the financial sector paving the way for the economic crash heard round the world. Willard promises to give $6.5 to $6.7 trillion in tax cuts to the wealthy and corporations and repeal the Democrat’s financial reform law so Wall Street and corporate banks can repeat the practices that created the Great Recession. Romney asked the President, “Where are the jobs,” and said the President’s “policies have failed.” Willard claims the economy would be creating 500,000 jobs each month if his policies of heaping more tax breaks on the wealthy and giving the financial sector free-rein were implemented and besides being absurd, it is an insult to Americans to assert that returning to Bush’s economic policies would have any different effect now, than they did four years ago. Romney also said “undoing the damage you’ve done will be a daunting challenge” and that “I’ve learned a thing or two about how government policies can kill private investment and stifle job creation and I have a plan to get government out of the way.” Here’s Willard’s problem; Americans have lived through his plan for eight long years, and using his self-professed business acumen will not produce different results than the last MBA president.
In March, former Florida governor and brother to George W. Bush endorsed Romney for president because he reminds him of his MBA brother. If nothing else, Jeb Bush recognizes that Willard will recreate an economic disaster like George presided over and that President Obama has cleaned up with sound economic principles that do not have their basis in more tax cuts for the rich and deregulation. In fact, President Obama created more jobs in three years than Bush did in eight, and the economy is growing despite the obstruction and massive layoffs in Republican-controlled states. Some of the better news recently is that Chrysler Group is forgoing its seasonal maintenance shutdown in order to keep up with the booming demand for their products, and if Romney had his way, Chrysler would be bankrupt and millions more jobs would have been lost. The announcement came after Chrysler’s best month in four years and a 20% surge in sales in April compared to a year ago. The first quarter of 2012 produced the company’s best profit since 1998 and it is due to President Obama’s bailout that Romney decried as a waste of taxpayer dollars and predicted that there would be no American automobile industry if Chrysler received a bailout. So much for Willard’s economic expertise.
America does not need another MBA in the White House whose only interest is creating wealth for investors or jobs in China, Mexico, and South Korea. Romney continues trumpeting his success while he headed Bain Capital, but he never boasts the jobs he eliminated or the companies he destroyed while increasing his personal wealth. As an MBA, Romney was successful in increasing his own wealth at all costs, but as president that mindset destroys economies and particularly American jobs. Romney or any other Republican cannot explain how giving the wealthiest 1% of income earners more tax cuts while eliminating public sector jobs will lead to an improved economy and the full employment myth any more than eliminating Wall Street and banking regulations will create more jobs. The last MBA president tried those approaches and created more wealth for the rich and corporations, sent millions of American jobs overseas, and presided over the worst economic disaster since the Great Depression.
Despite Romney’s assertions, the economy is improving and jobs are being created, albeit at a slower than desired pace, but if Republicans had not deliberately obstructed the President’s economic and job creation policies, it is highly likely there would be more robust growth. A real economic expert, Robert Reich says the problem is not economic, but political. He claims the Republican push to cut public spending before the economy is healthy is the real problem, but then again Reich is an economic expert, not an MBA. As an MBA, Romney may be good at creating wealth for himself and investors by killing Americans’ jobs and bankrupting companies, but those esteemed qualities do not qualify him to serve as president any more than George W. Bush was qualified. President Obama never insinuated he was an economic guru, but he has been successful cleaning up the last MBA president’s mess by following sound economic principles that create jobs and financial stability for all the people and not just wealthy investors that may be why Romney considers the President’s policies a failure. Romney’s failure is promising to repeat George W. Bush’s economic policies, and as Americans learn that a vote for Romney is a vote for the second, more catastrophic coming of Bush, they will remember that electing an MBA as president was a disaster this country, or its people, cannot tolerate again and survive.