Barack Obama began the week by launching a full assault on Mitt Romney’s time at private equity firm Bain Capital. The ad and the accompanying website portray Romney as a vampire-capitalist, sucking out profits from firms before destroying them, specifically in regards to a Kansas City steel mill. In contrast the Romney campaign is talking about spending and deficits under Obama.
Basically, the Romney campaign wants to remind voters that despite a Obama’s promises to get control of America’s debt, Obama has added $5.05 trillion in the national debt in less than four years. By contrast, his predecessor, George W. Bush added $4.9 trillion in debt during two full terms.
This afternoon, Romney advisor Ed Gillespie held a conference call with some selected reporters rebutting the Obama campaigns Bain-accusations and launching a line of attack on their own.
Gillespie was quick to point out that Romney had left Bain Capital two years before the Kansas City steel mill had closed down. Further, Gillespie pointed to the successes of Bain Capital like Staples and Sports Authority, that employ “thousands of people who are able to pay their mortgages, and put their kids through colleges, and take vacations.”
Gillespie emphasised over and over that Obama was a “crony-capitalist,” and passed on descriptions the loan programs at the Department of Energy as a kind of “friends and family plan.”
“When you’re in the private sector people make decisions on profit and loss. But when you have this level of government involvement in the economy you don’t have that kind of transparency.” Gillespie said. Gillespie concluded that the Obama administration simply “doesn’t understand private enterprise.”
Here’s the commercial that Republicans are launching:
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