Wednesday, May 16, 2012

Biden Warns Ohio of the Dangers of Romney Economics

What next?  Will neo-Nazis start warning us of the dangers of racial hatred?  From the May 16, 2012 Los Angeles Times:
YOUNGSTOWN, Ohio -- Vice President Joe Biden brought the Obama campaign's Bain Capital offensive to Ohio Wednesday, framing the election as a choice between economic philosophies that would have stark consequences for the middle class.
Speaking at a local manufacturer, Biden said there was "life and hope in the heartland" as a result of the administration's pro-manufacturing policies, which he said would do more to build a lasting economy than the profit-at-all-cost approach of firms like the one Mitt Romney headed.
What is Biden smoking?  Talk about out of touch with middle America.

1 comment:

Alan said...

Biden's claims rest almost solely on one unsuccessful Bain Capital investment. What is Bain's overall track record - and how does it compare to the Obama administration's track record regarding energy firms?

(Solyndra had secured debts of $783.8 million.)

Note this segment of Biden's speech:

"You all get it," he said. "You know the difference between an economy that’s built on making things rather than on collateralized debt, creative credit default swaps, financial instruments like subprime mortgages."

Romney coudl use a line like that if he were running against Barney Frank or Chris "I'm Bad, I'm Countrywide" Dodd.

"Profit-at-all-cost" sounds like a contradiction in terms.

What does Biden regard as pro-manufacturing policies? Personally, I think it's just a throwaway one-liner - I don't think he or Obama ever thought of any of their policies in terms of how they benefit the overall manufacturing sector.