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Romney Campaign Press Release - Obama VS. Obama on Free Enterprise

May 15, 2012

"After three-and-a-half years of pushing liberal policies that have grown the size of government, President Obama has tried to rewrite history by claiming he has respect for America's free enterprise system. But no amount of campaign rhetoric and empty promises can hide the fact that President Obama's time in office hasn't lived up to the promises he's made over the last four years." –Andrea Saul, Romney Campaign Spokesperson

While President Obama's Campaign And Allies Launched Attacks On The Free Market, President Obama Was Appearing At Wall Street Fundraisers And Lauding Free Enterprise:

Over The Last Two Days, President Obama's Campaign And His Allies Have Launched Attacks Against The Free Enterprise System And Governor Romney's Business Career. "The pro-Obama super PAC Priorities USA Action is sharply ramping up the Democratic offensive against Mitt Romney's business record, launching a $4 million ad campaign today in a group of 2012 swing states, a strategist for the group tells POLITICO. ... The 30-second commercial is going up in Colorado, Florida, Ohio, Pennsylvania and Virginia, the strategist said, and also includes an online advertising component. It comes on the heels of the Obama campaign unveiling a 2-minute commercial – also focused on Bain shuttering a GST Steel factory – which is set to air in select swing-state markets Wednesday." (Alexander Burns, "Obama Super PAC Launches Bain Offensive," Politico, 5/15/12)

President Obama, At A Wall Street Fundraiser Yesterday: "I Believe The Free Market Is The Greatest Wealth Generator Devised By Man ... We All Benefit From Free-Enterprise." "Speaking at the Park Avenue penthouse of Blackstone Group COO Tony James, Obama stressed he's done his best to boost the economy and the financial sector. ... 'I believe the free market is the greatest wealth generator devised by man,' he said. 'Risk takers and innovators should be rewarded' because 'we all benefit from free-enterprise.'" (Jennifer Epstein, "Obama Defends Wall Street Record," Politico, 5/14/12)

Why The Conflicting Messages? President Obama's View Of The Free Market Is Wrapped In "Crony Capitalism" And Taxpayer-Backed Financing For His Allies:

The Washington Post: "You Can Call It Crony Capitalism Or Venture Socialism — But By Whatever Name, The Energy Department's Loan Guarantee Program Privatizes Profits And Socializes Losses." (Editorial, "The Energy Department's Loan Guarantee Program Is The Real Solyndra Scandal," The Washington Post, 11/17/11)

The Energy Department's Inspector General Found That Contracts Were Steered To "Friends And Family." "The Department of Energy's inspector general, Gregory Friedman, who was not a political appointee, chastised the alternative-energy loan and grant programs for their absence of 'sufficient transparency and accountability.' He has testified that contracts have been steered to 'friends and family.'" (Peter Schweizer, "Obama Campaign Backers And Bundlers Rewarded With Green Grants And Loans," Newsweek, 11/12/11)

"$3.9 Billion In Federal Grants And Financing Flowed To 21 Companies Backed By Firms With Connections To Five Obama Administration Staffers And Advisers." (Carol D. Leonnig and Joe Stephens, "Venture Capitalists Play Key Role In Obama's Energy Department," The Washington Post, 2/14/12)

The Obama Administration Loaned More Than Half A Billion Dollars To Solyndra, Which Went Bankrupt And Laid Off 1,100 Workers. "In a blow to the Obama administration's efforts to create green jobs, solar-cell maker Solyndra announced Wednesday that it will close its remaining Fremont factory, lay off its 1,100 employees and file for bankruptcy. The news marked an abrupt end for a company once considered among the most innovative in a fast-changing industry. The bankruptcy also represents a high-profile failure for a federal stimulus program that gives loan guarantees to green-tech manufacturers. Solyndra was the first company to win one of the guarantees, receiving $535 million in 2009 to build its second factory in Fremont less than a mile from the company's original plant." (David R. Baker and Carolyn Said, "Solyndra Closes Fremont Plant - Stimulus Hopes Dim," San Francisco Chronicle, 9/1/11)

Of The First 12 Obama Administration Loans To Clean Energy Companies, "Two Firms Filed For Bankruptcy, A Third Has Faced Layoffs And A Fourth Deal Never Closed." "The bonuses and bankruptcies come against a growing wave of trouble for companies financed with Energy Department dollars. Of the first 12 loan guarantees the department announced, for instance, two firms filed for bankruptcy, a third has faced layoffs and a fourth deal never closed." (Ronnie Greene and Matthew Mosk, "Green Firms Get Fed Cash, Give Execs Bonuses, Fail," ABC News, 3/6/12)

Mitt Romney, Romney Campaign Press Release - Obama VS. Obama on Free Enterprise Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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