While the Democratic Party continues to hammer away at Mitt Romney for some outsourcing of companies while at Bain Capital, their own leaders are raking in the dough from the very same thing.
To start with, Democratic Chairperson Debbie Wasserman Schultz is one of those attacking Romney for his involvement in outsourcing companies overseas. She lambasts him for doing any kind of business or making money outside the U.S. and even lies about it to make him look worse than he is.
Like so many other Democrats, Schultz is a not only a raving lunatic, but a hypocrite to boot. Schultz was recently quoted as saying:
“Americans need to ask themselves, why does an American businessman need a Swiss bank account and secretive investments like that? Just something, a thought, that I’d like to leave folks with.”
What she failed to say at the same time was that she has investments in Swiss banks, the State Bank of India and in overseas drug companies.
But wait, there’s more! House Minority Leader Nancy Pelosi who has also been actively criticizing Romney’s business dealings has herself made millions from foreign investments. For instance, her 2011 financial disclosures listed an income up to $5 million from an international capital group that specializes in Asian investments.
Even more hypocritical of Pelosi is the fact that she invested in Moduslink Global which just so happens to be one of the outsourcing companies linked to Bain Capital and Mitt Romney. Oh, Nancy, can we say pot calling the kettle black? Are you sure you want to start casting stones in your glass house?
It galls me the way Obama and other Democrats have twisted and smeared Romney’s business decisions while he was at Bain Capital. They make it sound like all he did was either close down companies or send them overseas, all at the expense of American jobs. It shows just how little moral ethics they have
It also demonstrates their complete lack of any business understanding, which is why they’ve driven the U.S. to verge of financial collapse.
If you were asked to take over a company that was financially failing and do what you could to save it from going under, what are your options? In some cases, the company is financially unsalvageable and the only thing to do is close it down before it continues to create more debt that it could never repay. For other companies, the cost of doing business in the U.S., especially when unions are involved, is so expensive that they cannot compete in the open market and make enough money to stay afloat. The only two options are to close the company and eliminate all of the jobs or to move the company outside the U.S. where labor and tax costs are considerably less, allowing the company to remain in business. Then there is a third option and that is to restructure the company in such a way as to turn it around and make it profitable and in the process save and even create jobs.
What the Democrats fail to say in their campaign attacks on Romney is that he used the third option to help save a number of companies, saving jobs here in America and even creating more jobs. Companies that Bain invested in or purchased during Romney’s tenure, that proved to be successful and in some cases help save the company and jobs included: Staples, Gartner Group, Calumet Coach and everyone’s favorite Domino’s Pizza. Since Romney’s departure, Bain has continued on under many of the policies he created and have been involved in the success of many more companies including: Burger King, Toy’s Я Us, Dunkin Donuts, Michaels and Burlington Coat Factory.
I strongly suggest that Democratic leadership start looking at their track record under Barack Obama and the loss of thousands of jobs and hundreds of millions of taxpayer dollars wasted on failed green jobs starting with Solyndra. What about Obama’s 2008 campaign promise of creating 5 million green jobs?
And if the Democrats want to start talking about outsourcing, let’s discuss the Democratic National Convention coming up soon in Charlotte, North Carolina. The Democratic National Committee used extortion tactics and purposely outsourced numerous contracts for the convention to out-of-state companies even though local companies could have met those contracts for less money. The jobs were outsourced because the local companies were not union.
I recall growing up hearing a statement that liars only heap coals upon themselves and if that is the case, Schultz, Pelosi and Obama have enough coals already heaped up to keep them burning for centuries, if not eternity.