Wednesday, July 18, 2012

Bain, Barack and Baloney

What’s New Today

Story #1 talks about the facts and the charges Obama is making about Bain.  It appears the two are strangers to each other.  #2 has Obama talking about hope in a self-parody of 2008.  #3 has Obama showing that he is the most anti-business President we’ve ever had.  #4 talks about Romney’s speech in response to Obama’s “you didn’t build it,” quote.  He knocked it out of the park.  #5 shows another example of how Pelosi was right about finding out what was in the Obamacare bill.  #6 is a wonderful list of all the things Obama needs to make public before the left can ask Romney for more tax returns.  It would be a good list to attach to the bill the Democrats have put forward in the Senate. 

Today’s Thoughts

Donnie Box not an Obama voter
"I think Obama is a jerk, a pantywaist, a lightweight, a blowhard. He hasn't done a goddamn thing that he said he would do. When he had a Democratic Senate and Democratic Congress, he didn't do a damn thing. He doesn't have the guts to say what’s on his mind."  Donnie Box seen criticizing Bain in an Obama SuperPac Ad.  

It seems Saul Alinsky, a hero to the left, credited some of his effectiveness to the tactics he learned as an accomplice of the Capone mob in Chicago.  He was taken under the wing of Frank Nitti who Alinsky called the Professor, and became his student. 

Obama tells us he thinks about job creation every day.  So how is his job panel doing?  He doesn’t know since they haven’t met in six months.  Of course this may be because they recommended reforming our regulatory system and reducing the statutory corporate tax rate both ideas Romney has endorsed and Obama demonizes.  

The ultimate irony:  the sponsor of the DISCLOSE Act, Sen. Sheldon Whitehouse (D-RI) left the debate on the act to attend a political fundraiser.

1.  Facts don’t support Obama’s charges

Has Romney basically lied about when he actually departed Bain? Has he tried to mislead the public or investors? Here we come to the heart of the recent controversy. I may be wrong but based on what we know so far, I would conclude that we do not have persuasive evidence to show that he has.
Romney has argued for years that after he was called in to rescue the Salt Lake City Olympics in February 1999, he turned his full attentions there and no longer exercised active management at Bain. The story is a complicated one because Bain was a complex partnership and because the company filed various SEC papers after February 1999 still listing Romney in various key roles, including CEO and chairman. But if one takes time to look behind the SEC filings, what emerges is much more supportive of Romney's statements….

… As the New York Times reports Monday, there was an expectation at first that Romney might return to active management of Bain so he did not sever his ownership ties right away -- an additional reason why his name was not struck from documents for a while. The Times account goes on to say there is no evidence that during this interim he was actively engaged in managing the firm.
Both partners with whom I spoke firmly and unequivocally said that after he physically left in February 1999, Romney no longer made decisions for Bain regarding investments, hiring, firing or any other management issues. Subsequent to that February, the firm in 2000 offered another round of financing and, according to Bain, the investors well understood that Romney was no longer actively managing the company…., a respected website that nails candidates for inaccuracies, earlier investigated the whole issue of Romney's departure and reached a conclusion that he was telling the truth. Last week, little noticed by Romney's critics, FactCheck went back, reviewed the evidence again, and based on what we know so far, reaffirmed its earlier conclusions.  FactCheck's recent article was co-written by a man who was once a top investigative journalist for CNN. (The piece last week also recalled an Associated Press report on the Olympics that said in his early tenure at the Olympics, Romney was working 112-hour weeks to save the Salt Lake City games. Does this sound like a man who was also managing a private equity firm on the East Coast?)…

Obama almost had to do this, but I believe he will grow to regret it.  The absolute falsehood of these charges will damage his likeability and trustworthiness with the American public.  He will lose big in November. 

2.  Obama descends into self-parody

After much soul searching, Barack Obama has figured out where his presidency has gone wrong—and he shared it with CBS's Charlie Rose and viewers across the fruited plain Sunday morning.

"The mistake of my first term—couple of years," the president allowed, "was thinking that this job was just about getting the policy right." At times, Obama confessed, he'd forgotten that "the nature of this office is also to tell a story to the American people that gives them a sense of unity and purpose and optimism, especially during tough times." He needed to do "more explaining, but also inspiring."
"Because hope is still there," the first lady added.

There you have it. Contemplating the policy wreckage that surrounds him, the president has concluded that what this country needs is a fresh injection of presidential hope. Like "more cowbell" in the old Saturday Night Live skit, it's the magic ingredient that makes everything better.

Obama considers himself a sophisticated and nuanced guy, so you wouldn't think his descent into self-parody would be quite so unsubtle.

Anyone else out there for the explanation that a lack of storytelling, explaining, and inspirational speeches was the great sin of the Obama presidency? According to CBS's Mark Knoller, in his first two years in office, the president clocked 902 speeches and statements and gave 265 interviews. Anybody who talks that much runs the risk of saying too much. Case in point, this gem from the president's speech Friday in Roanoke: "If you've got a business—you didn't build that. Somebody else made that happen." Inspiring!...

This is a common problem especially for inexperience or limited people.  They go back to what got them to where they are when clearly that skill isn’t the solution to the problem.  It happens with new supervisors who don’t have a clue how to motivate and organize their people and assume they need to do what got them the promotion (they were the best worker on the line—go back and work on the line).  But a supervisor is not a worker on the line.  Their job is entirely different.  Obama’s job isn’t to give another speech.  It’s to fix what’s wrong with the country.  

3.  The Most Anti-Business President Ever

If I didn't know better, I might conclude that President Obama is trying to validate my book. His personal attacks on Mitt Romney have been so harsh that Romney called them "beneath the dignity of the presidency."
Not only did I devote several chapters to documenting Obama's practice of bullying and attacking his political opponents but my final chapter, uncannily, details Obama's "War on the Dignity of His Office." 

Having presided over 41 straight months of unemployment above 8 percent and possessing no arrows in his economic quiver besides deficit spending and raising taxes, it's not surprising Obama continues to resort to these gutter tactics.

What finally drew Romney's ire was Obama's accusing Romney of committing a felony and then Obama's refusing to apologize. This is simply Chicago Thug Politics 101. President Obama's favorite whipping boy, President George W. Bush, would have never stooped to this level. Even in the face of brutal, scurrilous attacks, Bush refused to diminish the dignity of the office.

In recent days, Obama also provided supplemental material for my chapter detailing his "War on Business" by revealing, yet again, his attitude toward the private sector, entrepreneurship and business. He told a crowd in Roanoke, Va., "If you've got a business -- you didn't build that. Somebody else made that happen."

His apologists will say his remarks were taken out of context, but I'm afraid that's not the case. Though no one can deny Obama's assertion that all successful people have benefited from others -- teachers and other mentors -- the thrust of his remarks was directed at crediting government with having an indispensable role in the success of businesses….

What Obama fails to realize is that there are 300,000,000 people in America and all of them have benefited from what Obama points out that rich people have benefited from.  They have the same roads to drive on, the same police and fire protection, etc. but only a few try to start their own business and even fewer succeed.  It is these successful businesses that create the jobs the employs the rest of the population and pays the taxes that build the roads, funds the schools and provides jobs in government.  Obama has it backwards.   

4.  Romney Knocks it out of the Park

By all accounts, Mitt Romney was sensational today in Pennsylvania. His theme was Barack Obama’s revelatory “you didn’t build that” speech. Over the lunch hour (here in the Midwest), Twitter was burning up with commentary from those who were watching Romney’s speech live. The commentary was unanimously euphoric. Romney spoke without teleprompter or notes, something Obama rarely does without getting into trouble. He was, everyone agreed, passionate and articulate. It seems that Obama’s attack on entrepreneurs and job creators, and his baldly stated conviction that everyone owes everything to government, was the spark that Romney needed. It will be interesting to see how his speech is reported on tonight.

In the meantime, the NRCC has released this very good ad, which blasts Obama’s “you didn’t build that” oration and is titled “He Doesn’t Get It.”

The left seems to be circling the wagons on this one.  They are trying to minimize what it means saying everyone who has been successful needs roads, courts, etc.  Of course they do.  In fact the people who ship things on the roads pay more taxes for that.  And the people who buy these products also use the roads to go to and from the store and pay some taxes (not as much as the shippers).  This isn’t that the rich didn’t build their businesses.  They did.  But they already pay much more than do the poor.  The problem for the left is they want even more money to spend and the rich have it.  So they keep making lame-brained arguments that the rich don’t pay their fair share.  

 5.  We need to pass the bill to find out what’s in it 

The Patient Protection and Affordable Care Act (PPACA) provides tax credits and subsidies for the purchase of qualifying health insurance plans on state-run insurance exchanges. Contrary to expectations, many states are refusing or otherwise failing to create such exchanges. An IRS rule purports to extend these tax credits and subsidies to the purchase of health insurance in federal exchanges created in states without exchanges of their own. This rule lacks statutory authority. The text, structure, and history of the Act show that tax credits and subsidies are not available in federally run exchanges. The IRS rule is contrary to congressional intent and cannot be justified on other legal grounds. Because the granting of tax credits can trigger the imposition of fines on employers, the IRS rule is likely to be challenged in court…

It seems like Nancy Pelosi was right and the democrats didn’t know what they were doing when they passed Obamacare.  It turns out the bill that was passed allows state exchanges but not federal exchanges to extend tax credits and subsidies if the states decide not to implement their own exchanges.  This is an example of what happens when you try to game the system.  

6.  The Top Ten Things Obama hasn’t released

…10. State senate papers. In the 2008 primary, Obama criticized Hillary Clinton for not releasing papers from her eight years time as First Lady--but failed to produce any papers from his eight years in Springfield. “They could have been thrown out,” he said.

9. Academic transcripts. His supposed academic brilliance was a major selling point, but Obama (by his own admission) was a mediocre student. His GPA at Occidental was a B-plus at best, and his entering class at Columbia was weak. Can he prove his merit?

8. Book proposal. Obama’s literary agent claimed he was “born in Kenya” for sixteen years. His original book proposal exists--biographer David Maraniss refers to it--and seems to have embellished other key details of his life. Yet it has never been released.

7. Medical records. In 2000, and again (briefly) in 2008, GOP presidential candidate Sen. John McCain released thousands of pages of his medical records. Obama, who had abused drugs and continued smoking, merely provided a one-page doctor’s note. 

6. Small-dollar donors. In 2008, the McCain campaign released the names of donors who had contributed less than $200, though it was not required to do so. But the Obama campaign refused, amidst accusations it had accepted illegal foreign contributions.

5. The Khalidi tape. In 2003, Obama attended a party for his good friend, the radical Palestinian academic Rashid Khalidi. The event featured incendiary anti-Israel rhetoric. The LA Times broke the story, but has refused to release the tape--and so has Obama.

4. The real White House guest list. Touting its transparency, the Obama White House released its guest logs—but kept many visits secret, and moved meetings with off-site. It also refused to confirm the identities of visitors like Bertha Lewis of ACORN.

3. Countless FOIA requests. The Obama administration has been described as “the worst” ever in complying with Freedom of Information Act requests for documents. It has also punished whistleblowers like David Walpin, who exposed cronyism in Americorps.

2. Health reform negotiations. Candidate Obama promised that health care reform negotiations would be televised on C-SPAN. Instead, there were back-room deals worth millions with lobbyists and legislators--the details of which are only beginning to emerge.  

1. Fast and Furious documents. After months of stonewalling Congress, Attorney General Eric Holder asked President Obama to use executive privilege to conceal thousands of documents related to the deadly scandal--and Obama did just that.

This is a nice list of things Barack seems to be hiding.  Don’t you think he should show Romney his, before Romney shows Obama what they are asking for? 

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