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DiabloViejo
05-05-2012, 08:58 PM
Clinton Labor Secretary Schools Romney: 4% Unemployment Came After Education Investments, Tax Hikes On Rich
By Judd Legum on May 5, 2012 at 11:28 am
Think Progress (http://thinkprogress.org/economy/2012/05/05/478702/clinton-labor-secretary-romney-4-unemployment/)

Speaking in Pittsburgh yesterday, Mitt Romney said that “anything over 4% [unemployment] is not cause for celebration (http://politicalticker.blogs.cnn.com/2012/05/04/romney-says-no-celebration-until-4-unemployment-rate/) .” The United States last achieved a sub-4% unemployment rate in December 2000, the end of President Clinton’s term.

On Twitter, Robert Reich, a Secretary of Labor under President Clinton, reminded Romney how America got there:

<span style="color: #3333FF">Robert Reich@RBReich

Rom says unemp shld be 4%. I was Sec of Lab last time it was 4%. We got there by raising taxes on rich and investing in ed and infrstructre.

4 May 12 Reply Retweet Favorite </span>

Romney on the other hand, is proposing the exact opposite. His tax plan would give massive tax cuts to the rich. (The top 0.1% for example, would receive a $264,000 tax cut. (http://thinkprogress.org/economy/2012/02/24/431844/romney-tax-cut-half-benefits-rich/) )

Meanwhile, in a closed-door fundraiser, Romney revealed he planned to make massive reductions (http://firstread.msnbc.msn.com/_news/2012/04/15/11216845-romney-offers-policy-details-at-closed-door-fundraiser?lite) in education spending . He is also proposing cutting funding for infrastructure, including the possible elimination of the Department of Housing and Urban development.

Romney’s comments also don’t reflect well on Ronald Reagan, who Romney now says he wants to emulate. The yearly unemployment (http://www.bls.gov/cps/prev_yrs.htm) rate exceeded 7% for most of his presidency and <u>never dropped below 5.5%</u>.