Monday, May 14, 2012

Obama warns that excessive debt endangers jobs!

In an email today, The Barack Obama campaign explains what is wrong with "Romney economics":
On the campaign trail, Mitt Romney points to his private sector experience as his chief qualification to be president.

So we took a look at that experience, and put together a new site,, on it. Take a look for yourself here.

Let me sum up how Romney economics works:

Romney and his partners bought companies across the United States, often loading them up with debt in the process.

Too often, they slashed pensions, benefits, and jobs, while paying themselves and their shareholders straight from the debt they'd accumulated.

Because of that debt, several of these businesses went bankrupt, leaving workers without jobs, without pensions, and without health care -- all while Romney and his partners walked away with millions.

What other companies loaded up on debt and then went bankrupt, leaving workers without jobs, but enriching well-connected investors? Solyndra comes to mind.

What else has piled on the debt while shedding jobs? The US under Obama.

Like so many Democrat criticisms of Republicans, this one seems driven by psychological projection.

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