Rick Perry unveiled a jobs plan today that mostly centers on the development of America’s energy resources. While energy development is a crucial step in boosting our economy and can strengthen our national security, for Perry being touted as the ‘jobs governor’, his plan is somewhat of a one-pony plan.
Mitt Romney’s comprehensive jobs plan addresses all areas of the economy and will lead to more than 11 million new private sector jobs in the next four years. He details ways in which to rebuild the foundations of the American economy on the principles of free enterprise, hard work, and innovation.
Romney’s plan emphasizes critical structural adjustments rather than short-term fixes. It seeks to reduce taxes, spending, regulation, and government programs. It seeks to increase trade, energy production, human capital, and labor flexibility. It relinquishes power to the states instead of claiming to have the solution to every problem.
Job one from day one: revive the economy and encourage job growth. On his first day in office, Romney will send five bills to Congress and issue five executive orders that will get government out of the way and restore America to the path of robust economic growth that we need to create jobs.
Governor Romney lays out more than fifty policy proposals across seven different areas: Taxes, Regulation, Trade, Energy, Labor, Human Capital, And Fiscal Policy. The specific proposals include fundamental tax reform, a significant overhaul of the federal regulatory system, innovative new approaches for opening foreign markets to American exports and for confronting China over its unfair trade practices, an aggressive commitment to developing America’s energy resources, and a dramatically reduced role in the economy for the federal government.
“Romney’s Campaign Predicted That His Overall Plan Would Lead To 4 Percent Annual Growth In The U.S. Economy, And Create 11.5 Million New Jobs Over Four Years.” (FoxNews.com, 9/6/11)
According to data cited by the Perry campaign, the timeline of Governor Perry’s estimate of 1.2 million new jobs is over the next thirteen years:
Governor Perry Estimates His Plan Could “Generate Up To 1.25 Million Jobs.” (Rick Perry, “Energizing Jobs And American Security,” RickPerry.org,10/14/11)
Wood Mackenzie Data Cited In Perry’s Plan Estimates That 1,262,035 Jobs Would Be Created By 2025. (“U.S. Supply Forecast And Potential Jobs And Economic Impacts, 2012-2030,” Wood Mackenzie, 9/7/11)
• This translates into 8,090 jobs created per month from the beginning of 2012 through the end of 2024.
• (1,262,035 / 13 years / 12 months = 8,090)
Wood Mackenzie Estimates That 668,462 Jobs Would Be Created By 2015. (“U.S. Supply Forecast And Potential Jobs And Economic Impacts, 2012-2030,” Wood Mackenzie, 9/7/11)
• This translates into 18,568 jobs created per month from the beginning of 2012 through the end of 2014.
• (668,462 / 36 months = 18,568)
Governor Perry’s “Jobs Plan” Consists Of Less Than 7% Of The Jobs Needed To Keep Pace With Population Growth:
A Common Estimate Of The Number Of New Jobs Needed To Keep Up With Population Growth Is 125,000 Per Month. (The New York Times, 7/8/11)
Perry’s estimate of 1.25 million jobs by 2025 – or 8,090 per month over that period – would create less than 7% of the number of jobs needed to merely keep pace with population growth.
• (8,090 jobs per month / 125,000 jobs to keep up with population = 0.0647)
Perry’s estimate of 668,462 jobs by 2015 – or 18,568 per months over that period – would create less than 15% of the number of jobs needed to merely keep pace with population growth.
• (18,568 jobs per month / 125,000 jobs to keep up with population = 0.1485)
Under Governor Perry’s leadership, jobs in Texas haven’t kept up with population growth either:
Over One Million Texans Are Out Of Work, Reflecting An Increase Of Nearly 140% During Perry’s Tenure. In August 2011, there were an estimated 1,036,563 unemployed workers in Texas. When Perry took office in December 2000, there were an estimated 434,408 unemployed workers in Texas.(Bureau of Labor Statistics, www.bls.gov, 10/14/11)
The Unemployment Rate In Texas Is 8.5% – More Than Twice As High As When Perry Took Office. When Governor Perry took office in December 2000, the unemployment rate was 4.2%. (Bureau of Labor Statistics, www.bls.gov, 10/14/11)
The Unemployment Rate In Texas Has Been At 8% Or Above For Twenty-Four Consecutive Months. (Bureau of Labor Statistics, www.bls.gov, 10/14/11)
The Unemployment Rate In Texas Is At A Level Not Seen Since June 1987 – Nearly A Quarter Of A Century Ago. (Bureau of Labor Statistics,www.bls.gov, 10/14/11)
In August 2011, Twenty-Six States Had A Lower Unemployment Rate Than Texas. (Bureau of Labor Statistics, www.bls.gov, 10/14/11)
Perry’s jobs plan falls short. Romney’s plan is the whole shebang.
To view Mitt Romney’s jobs plan book Believe in America: Mitt Romney’s Plan for Jobs and Economic Growth click here.
► Jayde Wyatt