Romney’s Massachusetts Ranked 47th out of 50 in Job Creation and 1st in Debt Per Person; Romney Economics Didn’t Work Then and It Won’t Work Now
Key Point: Mitt Romney claims his business skills and experience will help grow the economy and create jobs, the same claim he made when he ran for governor of Massachusetts. But Romney did the opposite – he sank Massachusetts to 47th out of 50 in job creation and made it No. 1 in debt per capita. Romney Economics didn’t work then and it won’t work now.
Job Creation: Romney’s Massachusetts ranked 47th out of 50 in job creation.
- While Romney was in office, Massachusetts consistently grew slower than the national economy. It also ranked 44th in economic growth and 35th in household income.
- In the four years before Romney took office, Massachusetts ranked 36th in job creation. In the four years after he left, it ranked 11th.
- President Obama has created five times more jobs in Massachusetts than Romney did as governor at this point in his term.
- In fact, job growth was so slow that 222,000 more residents left the state than moved there while Romney was governor.
Debt: Romney amassed more than $2.6 billion in debt as governor – a 16 percent increase in just four years. He left his successor with a billion-dollar deficit and Massachusetts taxpayers with more debt per person than any other state.
- Romney inherited $16 billion in long-term debt. Shortly before his term ended, the state’s long-term debt was $18.6 billion – a $2.6 billion increase.
- Right-leaning groups like the Tax Foundation have acknowledged that Massachusetts’ debt per capita was the highest in the country. Even the Cato Institute called Romney’s no-new-taxes pledge “mostly a myth” and confirmed that he left his successor a billion-dollar deficit.
President Obama has a balanced and detailed plan to reduce the deficit by $4 trillion while still making smart, responsible investments to strengthen the middle class and grow our economy over the long term. He’s already signed into law $2 trillion in deficit reduction.