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Did Romney create jobs or outsource jobs?

  1. profile image0
    oldandwiseposted 6 years ago

    Does anyone know Romney's accomplishments in job creations? He says he brings a business approach to creating new jobs, but all he talks about is the Olympics. Would be interested to know what other accomplishments he had, and how many jobs he really created.

    1. Ralph Deeds profile image65
      Ralph Deedsposted 6 years agoin reply to this

      Romney was CEO of Bain Capital and made a huge fortune with leveraged buyouts of companies. His results were quite mixed for the companies their employees. Leveraged buyouts quite often result in loading up a company with borrowed money, taking a tax deduction for the interest on the debt, laying off many employees, cutting wages and benefits, running the company into the ground, declaring bankruptcy and raiding the pension fund.

      http://www.usatoday.com/news/politics/s … 52397232/1

      Fact check: Romney's shaky jobs claim
      By Lori Robertson and Robert Farley, FactCheck.org

      Mitt Romney has taken to saying that he created more than 100,000 net jobs through his work in the private sector, and more jobs as governor than President Obama has created since taking office. But the first claim is unproven, and the second is misleading.

      It's true that the private equity firm Bain Capital, which Romney headed from 1984 to 1999, invested in many companies that went on to add jobs. But there's no thorough count of the jobs gained and lost in all the companies in which Bain invested. And it's highly debatable whether Bain, and Romney, deserve credit for all of the jobs created, particularly when there were other investors, executives who launched or ran the companies, and new owners in later years.

      1. kenneth avery profile image84
        kenneth averyposted 6 years agoin reply to this

        Thanks for the great info. NO Mitt for me. Maybe the Rick guy. He seems solid enough, but not Ron Paul, he is for cutting all aide to Israel...and My Bible teaches me that "all nations shall turn against her," (Isreael) and incur
        God's wrath...what is Paul thinking anyway?

        1. Jed Fisher profile image88
          Jed Fisherposted 6 years agoin reply to this

          WOW! So unless I let a bunch of international billionare Banksters extract all the wealth out of my country, God might smote me? I'd rather get smoted, thank you very much.
          Seriously, the Israel mentioned in the Bible was a wandering tribe, not a geographic location. The modern country that took the name of that tribe, modern Israel, ain't got nothing to do with any Bible passage. That country needs to either apply to become a US state, or just shut the hell up. Pandering to modern Israel is stupid.

  2. Paul Wingert profile image78
    Paul Wingertposted 6 years ago

    Romney can't keep his misleading or his BS stories straight. Ron Paul is nuts but serves nicely as the comic relief for the Republicans. Ron Perry is another Bush and not familiar with that other guy who
    s last name starts with an S.

  3. Ralph Deeds profile image65
    Ralph Deedsposted 6 years ago

    Paul Krugman on Romney Jobs Record at Bain Capital:

    But his claims about the Obama record border on dishonesty, and his claims about his own record are well across that border.

    Start with the Obama record. It’s true that 1.9 million fewer Americans have jobs now than when Mr. Obama took office. But the president inherited an economy in free fall, and can’t be held responsible for job losses during his first few months, before any of his own policies had time to take effect. So how much of that Obama job loss took place in, say, the first half of 2009?

    The answer is: more than all of it. The economy lost 3.1 million jobs between January 2009 and June 2009 and has since gained 1.2 million jobs. That’s not enough, but it’s nothing like Mr. Romney’s portrait of job destruction.

    Incidentally, the previous administration’s claims of job growth always started not from Inauguration Day but from August 2003, when Bush-era employment hit its low point. By that standard, Mr. Obama could say that he has created 2.5 million jobs since February 2010.

    So Mr. Romney’s claims about the Obama job record aren’t literally false, but they are deeply misleading. Still, the real fun comes when we look at what Mr. Romney says about himself. Where does that claim of creating 100,000 jobs come from?

    Well, Glenn Kessler of The Washington Post got an answer from the Romney campaign. It’s the sum of job gains at three companies that Mr. Romney “helped to start or grow”: Staples, The Sports Authority and Domino’s.

    Mr. Kessler immediately pointed out two problems with this tally. It’s “based on current employment figures, not the period when Romney worked at Bain,” and it “does not include job losses from other companies with which Bain Capital was involved.” Either problem, by itself, makes nonsense of the whole claim. 

    http://www.nytimes.com/2012/01/06/opini … ef=opinion