Hey Obama, Are Corporate Losses Going to Create Jobs?
DES MOINES, Iowa – President Obama celebrated the role Iowa played in his campaign in 2008 and took aim once again at Mitt Romney’s business background at a campaign rally on the Iowa State Fairgrounds on Thursday.
“The last time he visited these same fairgrounds, he famously declared that corporations are people,” Obama told a crowd of roughly 2,500 packed into an exhibit space. “Human beings, my friends.”
The president maintained that the private equity industry is a welcome part of the economy – risk-takers and investors should be rewarded, he said. But their motives are not job creation.
“The people who work in these firms will tell you that’s not their goal,” Obama said, explaining that the goal for private equity companies, such as Bain, the company Romney co-founded, is “maximizing short-term gains for your investors.”
“There may be value for that type of experience but it’s not in the White House,” the president said, where the goal is “strong and sustainable, broad-based growth.”
The Romney attacks now appear to be part of Obama’s regular stump speech – he has employed them several times this week, despite criticism from some Democrats that he is wrongly villifying the industry.The phrase "short-term gains" is a bit of editorializing by Obama. A CEO and his Board of Directors have, as their objective, maximizing PROFITS for their investors, not "short-term gains."
Short-term gains are important, but let's be honest here, if a CEO and the Board sacrificed future profits for a one-quarter spike, they would soon be canned.
Obama is anti-Capitalism, plain and simple. He is anti-American, and he needs to be removed from office.