Obama lampooned Romney for his defense on outsourcing:
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- Personally, I consider people earning $115,000 per year as upper-middle-class, not rich. And this is coming from a person who lives on about $12,000 per year on Social Security. To me, the "wealthy" are the people who are in the top 10% who control the bulk of the country's wealth and resources.
Wealthy people like Mitt Romney are not job creators, no matter how you may wish to look at it. My primary question still is, how can someone say they are job creators when they have made a fortune by outsourcing jobs overseas?
Even though you may be in denial about these so-called wealthy "job creators," the unemployment rate is still way too high because of not only their outsourcing of jobs, but their Republican advocates in Congress who have done nothing over the last four years, except obstruct everything President Obama attempts to do to raise the economy out of the toilet that GW Bush helped put it in.Jun 26, 2012
- I agree with your classification of Upper Middle Class, but have questions about your questions ;^)
I tend to agree with you in regards to Mitt Romney being a job creator. His claim that he created 100,000 jobs is a figure much like Obama’s “saved and created;” it’s a meaningless number plucked out of thin air. I think it would be more accurate to say that he had a positive effect on the current employment of three companies that Bain had either started or helped grow: Staples, The Sports Authority and Domino’s.
The outsourcing/off-shoring argument won't really hold up under scrutiny, and I doubt that the president will keep up with this tack. Corporations off-shore and outsource all the time in an effort to cut costs and make a profit. When Coke built a bottling plant overseas, they didn't ship Americans there, nor did they build the plant here in sections and ship it overseas - both of those would have been cost-ineffective.
Your argument that the employment rate continues to be high due to Republicans isn't accurate.
States should take responsibility for their own business climates. That is the states' rights that the Republican platform is all about. But the Feds accumulated so much debt to pacify those who lobbied for entitlements and social programs (like little children thinking they would be free) that the only way to sustain the debt and its programs was to interfere with the states and exact power through mandates and regulations.
Obama isn't directly responsible for the high unemployment rate, but he is responsible for increasing the debt at an unprecedented rate. This unprecedented borrowing and mortgaging of American assets is what is impeding job growth.Jun 27, 2012
- Deficit spending increases inflation. Inflation reduces the value of money. People have to hold on to more money to make financial ends meet, so they're less likely to hire and more likely to fire. Unemployment stays high.
Whether you blame Obama's big-spending ways or House Republicans' low-tax ethic is pure partisanship; they're both problematic.Jun 27, 2012
- The examples you gave about some of the positive things that Bain Capital has done are good, but what about all of the other cases, that have been coming out in the news lately about the numerous cases where they have done just the opposite. Even though your examples are good, there are many more examples of Bain Capital taking over companies, laying off workers, then selling those ruined companies for huge profits. Since a large number of these cases of abuse took place when Mitt Romney was CEO, he is put in the very difficult place of doing some very heavy damage control in order to be elected President. Frankly, I doubt he can do it.
Even though I will admit that the Republicans are not entirely to blame for the high rate of employment, I do blame them for the lack of positive action to correct the problem, during that time that President Obama has been in office. They have done absolutely nothing to cooperate with anything he has tried to do to create jobs. All they have done it is put up one roadblock after another, no matter how good any of the president's ideas may have been. They even had the audacity to admit, shortly after Obama was elected, that their main objective was going to be defeating him in the 2012 election.
The argument over outsourcing vs. offshoring is mostly a squabble over semantics, and I doubt that President Obama's election team will stick with it. It was mainly a source of jokes for the Vice President, Joe Biden.
Even though I also agree that individual states are largely responsible for their own financial well-being, the federal government also shares some of the responsibility because they are the ones that set up, and enforce, Federal trade and banking/financial policies. After all, federal authority always supersedes state authority. As far as I'm concerned, that issue was settled by the Civil War.
The main area where the federal government accumulated such a huge debt was prolonging to costly, and unjustified wars in Iraq and Afghanistan. President Obama made a huge mistake by not bringing our soldiers home soon after his election as he promised. Even though he inherited these wars from GW Bush, he should have ended them far more quickly than he has. By the way, he also inherited this current financial mess from GW Bush, so he has had to spend the last 3 1/2 years doing damage control for his the predecessor.
Since the Republicans control a large number of seats in both the Senate and House of Representatives, I still place a large amount of the blame for this recession on them. The president has had some pretty good ideas about how to fix things, but without Republican cooperation they died on the vine. If they had placed less priority on obstructing him, and a higher priority on trying to work with him, maybe I would give them a little more credit than I do.Jun 27, 2012
- http://www.cbsnews.com/8301-503544_162-57438563-503544/bain-capital-defends-record-in-wake-of-obama-team-attacks/, Bain Capital has about an 80% success rate at expanding their clients' businesses. That means that, mathematically, there are three times more cases of them doing good for the economy (and for jobs) than of them doing harm.
Also, the wars in Afghanistan and Iraq have been costing our federal budget about $140 billion per year -- so says this professor, www.youtu.be/ID4xay5RITY?t=55s -- a tiny fraction of the $1,200 billion budget deficit in 2011. The wars, and the entire Defense Department, are only a fraction of the size of the deficit.
Some other budget sources:
http://www.bls.gov/emp/ep_table_408.htmJun 27, 2012
- Whether or not Bain Capital is successful at expanding their clients businesses, it depends on both who you ask, and what the goals of expansion are.
If the goals of the expansion are making money for the business owners by selling off those businesses assets for profit, and outsourcing jobs to foreign workers whose wages are a fraction of what American workers make, then Bain Capital could be rightfully said to be successful.
However, if you were to ask some of those thousands of American workers whose jobs Bain Capital helped ship overseas, then it would be even more rightfully said that they were unsuccessful.Jun 28, 2012