Obama challenges Romney on China trade
President Barack Obama meets local residents during a stop at Ann's Place in Akron, Ohio on his two-day campaign bus trip in Ohio and Pennsylvania on Friday, July 6, 2012. / Pool, Ed Suba Jr.,AP Photo/Akron Beacon Journal
(AP) WASHINGTON - President Barack Obama is challenging Mitt Romney's vows to get tough on China, saying in a new ad that Romney "made a fortune" allowing China to take U.S. jobs.
Obama's ad seizes on a report that several businesses backed by Romney's former private equity firm transferred jobs to China and India to cut costs. The narrator says Romney is "not the solution. He's the problem."
The ad follows Obama's two-day bus tour in Ohio and Pennsylvania, where he announced the filing of a trade complaint against China at the World Trade Organization over duties on exports of U.S.-produced automobiles.
The ad is part of a larger $25 million ad buy in July and will run in New Hampshire, Virginia, North Carolina, Florida, Ohio, Iowa, Colorado and Nevada.
Popular in Politics
- Obama forgets to salute while boarding Marine One Play Video
- Obama prom pictures surface 131 Comments
- IRS' Lerner was asked to resign, refused: GOP Sen. 179 Comments
- GOP Rep.: Obama elected because of Reagan's immigration reforms
- Petraeus biographer regrets affair
- Pelosi ties bridge collapse to sequester
- Is President Obama ending the war on terror? 290 Comments
- Palin Image: Confident, Secure Play Video
First, stop with the derogatory apellations and the personal ad hominems and let's try to have constructive, helpful public discourse on all the serious issues of the day that affect us all.
Second- Let's just all stop buying imports for a while. Stop shopping at Wal-Mart, or any other retailer or business that sells goods manufactured by outsourced American companies.
We can do it. It won't kill us. And it will send the most powerful message Americans can send to our government and our companies. The power of our wallets.
And we better do this soon, because our wallets are getting very thin.
I am so tired of hearing Public Service Employees tell us how the Private sector is our answer and that Govt. doesn't create jobs ___Hmmmmmm--- The job their all running for is a Govt created job --- The Govt is the largest employer in the US and the residual purchases by Our Military -- State and local Govt --- for fleets,-- Armaments,office supplies, Printing etc etc. When the GOP start enacting legislation that will help the economy i'll vote for them -- Obama is mediocre -- the GOP are useless obstructionists.
Jobs creation is not going to return as long as we have an administration that is unfriendly to business and creates an environment of uncertainty. As long as we have an anti-capitalist Keynesian president, we will continue to have economic stagnation.
There is a balance that has to be met. I get the impression that the GOP would like the government to return to pre-Teddy Roosevelt times with regard to work place safeguards and rules. Unfortunately, that kind of environment creates a whole lot more pain for everyday people with gain only for those at the top.
economyincrisis.org/content/protectionism-matter-self-survival#comment-6632
economyincrisis.org/content/unethical-predatory-practices
Too bad we'll never see these types of articles in the mainstream media
Of course mitt romney and his republican cohorts are the problem.
When mitt romney got brave enough to escape the cocoon of fox news, and appeared on Face the Nation in June, he added his voice to the chorus of those saying that economic recovery would follow if only we relieved the terrible burden that the government has placed on the nation's job creators: business. Were taxes and regulations relaxed, this would reduce costs sufficiently to allow firms to do what they are already dying to do, which is expand operations and hire workers.
If the demand for goods and services stays where it is today and we only cut industry taxes and regulations, there is absolutely no reason to think that firms would expand employment with mitt romney's magic wand. Rather, they would continue to produce at the same level and simply earn higher profits like their record profits in 2010-11.
But this is exactly how the mittster can repay his undisclosed multi-millionaire and billionaire sugar daddies like the koch heads, sheldon adelson, harold hamm and others, by promising to cut industry taxes and regulations, which would only increase their record profits!
Ask yourself this question: what do you really think caused firms to lay off so many workers that unemployment jumped from 4.4% in May 2007 to 10% in October 2009 (remaining at 8.2% today), a sudden spike in business regulations and taxes, or a collapse in demand?
It is impossible to imagine that anyone truly believes the former to be the case, but I hear republicans including mitt romney saying that on a daily basis, leading me to believe they have ulterior motives.
In reality, the reason we are stuck where we are is because the middle class lacks jobs and incomes -- something that will get markedly worse if we continue to try to cut government spending and balance the budget like paul ryan and other GOP leaders say.
In fact, the Bush tax cuts for the wealthy have been in place now for nine years, the jobs still disappeared, and have been elusive ever since.
Apparently, the Repub strategy is to keep hammering home mistruths, misinformation, and outright lies in the belief (probably justified, unfortanely) that voters will believe them if they repeat the falsehoods enough.
With the stock market near an all time high ... wondering why the American job market isn't improving faster ... can you say "emphasis abroad" ...
Shaghai, China:
GM's first Chinese Automotive Research and Development (R&D) facility, otherwise known as GM China's Advanced Technical Center. The facility sits on a 16.3 acre campus and work performed there will focus on advanced design, vehicle engineering, advanced powertrain development, urban mobility and manufacturing processes, and testing. Upon completion, the nearly 355,000 SF Advanced Training Center will consist of 62 testing labs and 9 research labs.
GM is anticipating completion of Phase 2 construction to be in the second half of 2012.
There are many more examples not covered by our media. Does anyone know exactly to what extent corporate America has abandoned the American worker?
Does this represent how the tax cuts for the wealthy are being invested? We have all heard that corporate profits are at an all time high. Why does this not reflect in improvement in the US economy? Oh ya ... more tax cuts are required ... ya right.