What if Romney Wins?

slate.com — Barack Obama’s second-term economic policy is relatively easy to figure out, because it would mostly involve taking advantage of changes that are already scheduled to happen. Understanding what would happen in a Mitt Romney administration is much more difficult. The starting point is to realize that Romney has been overpromising and liberals have been overworrying about it. The fact of the matter is that unless current polling is badly mistaken, even if Romney wins, Democrats are overwhelmingly likely to hold a majority in the Senate, meaning swathes of his stated agenda will be dead on arrival. In other words, the whole Romney agenda the Obama campaign’s been warning you about—the $5 trillion in tax cuts, the privatization of Medicare, the steep cuts to everything from FEMA to Medicaid—isn’t actually going to happen. So what would happen?

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