Romney Compares California To Struggling European Nations

http://sanfrancisco.cbslocal.com/2012/08/08/romney-compares-california-to-struggling-european-nations/

Republican presidential candidate Mitt Romney is drawing rebukes from California Democrats for comparing the nation’s most populous state to struggling European countries.

Romney told supporters in Iowa on Wednesday that business people think America will “become like Greece or like Spain or Italy, or like California—just kidding about that one, in some ways.”

While California has the nation’s third highest unemployment rate, Gov. Jerry Brown spokesman’s, Gil Duran, said it leads the nation in the number of jobs created, its bond rating outlook is improved and its borrowing costs have fallen.

Standard & Poor’s last year issued a report rejecting comparisons between California’s ongoing budget deficits and the Greek debt crisis. It said government spending makes up a significantly higher proportion of spending in Greece than in California.