A key attack line in President Obama’s campaign stump speech these days is to claim that the country has tried Mitt Romney’s economic policies already, and they were a dismal failure.
Romney, he says, wants to do two things: Cut taxes for the rich and massively deregulate the economy.
“The truth is,” Obama says, “we tried (that) for almost a decade, and it didn’t work.”
Bush-era tax cuts and deregulation, he argues “resulted in the most sluggish job growth in decades” along with “rising inequality, surpluses turned into deficits, culminating in the worst economic crisis in our lifetimes.”
There’s just one problem. Obama’s got his history wrong.