Barack Obama seems determined to make profit a dirty word. In attacking Mitt Romney’s business background, he’s making it clear that he has contempt for the free market that created the long-term national prosperity that he’s spent nearly four years helping to destroy.
Speaking in Iowa Thursday, Obama spoke of private equity firms — such as Bain Capital, Romney’s former company — as having motives other than job creation, as though that’s a bad thing.
“The people who work in these firms will tell you [job creation is] not their goal,” Obama said. He added that the companies’ goal 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.”
Let’s review this. It’s business that generates the wealth of the nation on a long-term basis. Right now, business is in serious trouble, partly because of mistakes made by the business community, but even more so because of government interference that’s destroying the economy and manipulating markets. And even though the country desperately needs business to rebound and start growing again — as Obama would be the first to admit — he is clueless enough to claim it’s a liability for a presidential candidate to have experience in the private sector with making money? Is he insane or just dishonest?
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