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Mitt Romney’s unemployment pledge

Veronica C. | May 28, 2012

There’s only about six months left before the nation must decide the fate of the presidency in November. While this election season has seen numerous scandals and points of interest ranging from gay marriage to the assassination of Osama bin Laden, the economy remains the key issue of debate between President Barack Obama and Republican challenger Mitt Romney. Despite the slow but steady progress that has been made in lowering the national unemployment rate over the past year, Romney feels that he can do better.

Currently, the jobless rate is hovering at 8.1 percent across the U.S. – down from nearly 9.1 percent in August 2011, according to CBS News.

In a televised interview with Time Magazine’s senior political analyst Mark Halperin, Romney claimed that he would lower the current unemployment rate by 2 percent after his first term in office.

“I can tell you that over a period of four years,” Romney told Halperin, “by virtue of the policies that we’d put in place, we’d get the unemployment rate down to 6 percent, and perhaps a little lower.”

While this might seem ambitious, the International Business Times (http://www.ibtimes.com/articles/345058/20120524/romney-s-6-unemployment-promise-bold-sounds.htm) notes that the Congressional Budget Office already predicted a significant and similar drop in jobless benefits applications would likely occur by the next presidential election – 7 percent by 2015 and 5.5 percent by 2017.

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Category: Employers

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