Romney says U.S. economy needs 'something dramatic'

Posted Monday, Aug. 06, 2012  comments  Print Reprints
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EVANSVILLE, Ind. -- Mitt Romney is calling for "something dramatic" to help the economy recover, but he's not saying exactly what.

The Republican presidential candidate says he opposes another federal stimulus package and new government programs. He also says that if the Federal Reserve were to undertake another "massive" program of buying government bonds and mortgage-backed securities, with the goal of driving interest rates even lower, it wouldn't help the recovery.

"I can absolutely make the case that now is the time for something dramatic and it is not the time to grow government. It's the time to create the incentives and the opportunities for entrepreneurs and businesses big and small to hire more people and that's going to happen," Romney said an interview Sunday on CNN.

"You're going to see that happen in this country but not under this president."

Romney said repeatedly last week that his economic policies would create 12 million jobs. Pushed to explain how, Romney said in the interview, "That's what happens in a normal process."

"When you come out of the kind of recession we've had you should see this kind of job creation," he said. "Good things happen when you have a private sector that's thriving."

Romney has been slow to release specifics for his economic plans. He repeated his opposition to Obama's tax plan, which would preserve tax cuts passed in the George W. Bush era for all Americans but those who earn more than $250,000.

Romney would preserve the tax cuts for everyone, although he has not detailed how he would pay for the plan.

"I also hope people understand when they talk about raising taxes on the wealthy -- as the president does -- he is also talking about the same tax rate that applies to small business," Romney said.

The Romney campaign released a TV ad Sunday highlighting his recent trip to Israel. In the ad, he criticizes Obama for not visiting the Jewish state. Obama's last visit was in 2008.

While in Israel, Romney said that cultural differences help explain the economic disparity between Israelis and Palestinians, prompting accusations of racism from Palestinian leaders.

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