Hi SNAFU, I doubt I can satisfy you with my answer but I'm willing to try.
We have been losing manufacturing jobs to countries all over the world for decades. Labor is cheaper. I don't lay that at the feet of Bain Capital then or now. It's just a fact of life. One of my best friends is the CEO of a biotech startup. They worked for 7 years and burned through 300M trying to develop a cancer vaccine. They were unsucessful. The 300M that was lost was from private investors. If the company had been successful, the investors stood to make huge profits. It didn't work out. That's just the way free enterprise works. It's better than the government trying the same thing using taxpayer money. Romney's success generally worked out well and created wealth and employment. I suspect that where it didn't, it would not have worked out anyway. It's really just a matter of who was in control when the company which was ailing failed. The process, win or lose, creates a knowledge base on how to create successful businesses. You may not agree, but that's how I see it.
Obamacare, has created a situation where companies are uncertain about their costs. It inhibits hiring or leads to jobs which are less than 30 hours a week so Obamacare is not a factor. There are some good things in the bill but the way it was pushed through rubs me the wrong way. It was not a nonpartisan bill. Obama ran on the promise that he would work across the aisle. He did not. You can lay much of the blame for that on the Repulicans. That is fair. But when he first placed the immediate bailout in the hands of Pelosi and Reid and then walked away from the negotiations without providing leadership, he poisoned the water for the rest of the term.
I know that my answer will not satisfy you but that is how I see it.
And, yes you are largely correct when you say that Mitt's plan is not specific. But Obama has no plan either and he has not been successful.
Obama has slowed business but creating a maze of regulations and in many cases those regulations should have been signed off by votes in congress instead they were done by fiat in the Oval Office
Updated On: 10/29/12 at 03:19 AM