Monday, January 21, 2008

ROMNEY’S ECONOMIC RECORD IN MASSACHUSETTS: “ONE OF THE WORST IN THE COUNTRY”




“We really haven’t had a turnaround …
We’re trailing the nation in job growth. Our job growth has been anemic.” --
Massachusetts Taxpayers Foundation President Michael
Widmer



Under Romney, Massachusetts’ Economic Performance Was “Weak … One Of The Worst In The Country”

Under Romney, Massachusetts’ Economic Performance Was “Weak … One Of The Worst In The Country.” “As Mitt Romney pursues his bid for the presidency, his record as Massachusetts governor will come under scrutiny, including how the state's economy performed during his administration. Our analysis reveals a weak comparative economic performance of the state over the Romney years, one of the worst in the country.” (Andrew Sum and Joseph McLaughlin, Op-Ed, “Romney's Economic Record,”
The Boston Globe, 7/29/07)

· Cato Institute Graded Romney A “C” For His Fiscal Performance As Governor. (Cato Institute Website,
www.cato.org, Accessed 1/21/07)

Under Romney, Massachusetts’ Job Growth Was “Anemic,” Ranked Third-Worst In The Country

Under Romney, “On All Key Labor Market Measures, The State Not Only Lagged Behind The Country As A Whole, But Often Ranked At Or Near The Bottom Of The State Distribution.” “On all key labor market measures, the state not only lagged behind the country as a whole, but often ranked at or near the bottom of the state distribution. Formal payroll employment in the state in 2006 was still 16,000 or 0.5 percent below its average level in 2002, the year immediately prior to the start of the Romney administration. Massachusetts ranked third lowest on this key job generation measure and would have ranked second lowest if Hurricane Katrina had not devastated the Louisiana economy.” (Andrew Sum and Joseph McLaughlin, Op-Ed, “Romney's Economic Record,”
The Boston Globe, 7/29/07)

· Job Growth Under Romney “Anemic.” “‘When he talks about a turnaround, we really haven’t had a turnaround,’ said Michael J. Widmer, president of the Massachusetts Taxpayers Foundation, a nonpartisan organization that analyzes state economic policies. “We had a temporary fiscal respite. But we’re trailing the nation in job growth. Our job growth has been anemic.” (Pam Belluck, “Romney Candidacy Puts Massachusetts Economy In Spotlight,”
The New York Times, 3/16/07)

Under Romney, Massachusetts’ Manufacturing Jobs Declined At Double The National Rate -- Third Worst Record In The Country

Under Romney, Massachusetts Manufacturing Job Declined By More Than 14 Percent -- Double The National Rate. “Manufacturing payroll employment throughout the nation declined by nearly 1.1 million or 7 percent between 2002 and 2006, but in Massachusetts it declined by more than 14 percent, the third worst record in the country.” (Andrew Sum and Joseph McLaughlin, Op-Ed, “Romney's Economic Record,”
The Boston Globe, 7/29/07)

Under Romney, Taxes In Massachusetts Increased More Than $700 Million Per Year

Massachusetts Taxpayers Foundation: More Than $700 Million Per Year In Increased Taxes And Fees Under Romney. “Fees and taxes have increased more than $700 million a year under Governor Mitt Romney and Lieutenant Governor Kerry Healey, a leading budget specialist said yesterday. Michael J. Widmer – president of the Massachusetts Taxpayers Foundation, which closely tracks state finances – said the state has raised roughly $740 million to $750 million per year by increasing fees and corporate taxes gained from what the Romney administration describes as ‘closing loopholes.’” (Brian Mooney, “Analyst Puts Increase In Fees, Taxes At $700m,” The Boston Globe, 9/27/06)

· “[R]omney … Approved Hundreds Of Millions In Higher Fees And Fines Including Raising The Cost Of Getting A Marriage License, Filing A Court Case, Buying A House Or Renewing A Drivers License.” (Steve LeBlanc, “Romney, In Change Of Heart, Signs No-New-Taxes Pledge,” The Associated Press, 1/5/07)

· “A 2003 Survey Of States By The National Conference Of State Legislatures Found Massachusetts Imposed At Least $501.5 Million In Fee Hikes, Far More Than Any Other State In The Nation That Year.” (Steve LeBlanc, “Romney, In Change Of Heart, Signs No-New-Taxes Pledge,” The Associated Press, 1/5/07)

· Cato Institute: Romney’s Rhetoric On Taxes “Mostly A Myth.” “[R]omney will likely also be eager to push the message that he was a governor who stood by a no-new-taxes pledge. That’s mostly a myth. His first budget included no general tax increases but did include a $500 million increase in various fees. He later proposed $140 in business tax hikes through the closing of ‘loopholes’ in the tax code.” (Stephen Slivinski, “Fiscal Policy Report Card On America’s Governors: 2006,” Cato Institute, 2006, p. 26)

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