Fact Check: Romney’s 12 million jobs

http://www.washingtonpost.com/blogs/election-2012/wp/2012/10/16/fact-check-romneys-12-million-jobs/

Romney once again claimed that his economic plan would produce 12 million jobs. This sounds like a pretty bold statement, especially considering that only two presidents — Ronald Reagan and Bill Clinton — created more than 12 million jobs. Romney, in fact, says he can reach this same goal, in just four years, though the policy paper issued by his campaign contains few details. It is mostly a collection of policy assertions, such as reducing debt, overhauling the tax code, fostering free trade and so forth.

But Moody’s Analytics, in an August forecast, predicts 12 million jobs will be created by 2016, no matter who is president. And Macroeconomic Advisors in April also predicted a gain of 12.3 million jobs. In other words, this is a fairly safe bet by Romney, even if he has a somewhat fuzzy plan for action. We have often noted that presidents are often at the mercy — or are the beneficiary — of broad economic trends, and Romney’s pledge appears to be an effort to take advantage of that.

Moreover, the Fact Checker column this week gave Romney Four Pinocchios for an television ad that incorrectly jumbles together a bunch of studies to achieve that 12 million figure.