“Illogical Reasoning”: Mitt’s Utterly Empty Massachusetts Boasts
The Obama campaign has been criticizing Mitt Romney’s record as Massachusetts governor, and the presumptive Republican nominee is now responding with an ad of his own. Romney certainly has a right (and, from a strategic standpoint, an obligation) to rebut his opponent’s attacks, but the defense he offers is a textbook demonstration of how to make something out of nothing.
The spot makes three specific boasts about Romney’s term as governor, which ran from 2003 to 2007. The first involves job creation:
“As Governor of Massachusetts, Mitt Romney had the best jobs record in a decade.”
That sounds impressive, but look a little closer. In the decade before Romney’s tenure, Massachusetts had three other governors, all Republicans. One of them, Bill Weld, clearly had a better jobs record than him. When Weld came to office in January 1991, the state’s economy really was in a freefall. A major Boston-based bank, the Bank of New England, had just failed and the jobless rate was 7.4 percent and climbing fast. Within a few months it reached 9.7 percent, then began falling as the economy – in the state and nationally – revived. Weld left office at the end of July ’97 (to pursue an ill-fated bid to become ambassador to Mexico) with the jobless rate at just 4.1 percent.
His successor, Paul Cellucci, oversaw a further decline, with the rate plummeting to just above 2 percent in 2000. But the economy began sagging, and the number started to rise again. On April 10, 2001, he resigned to become George W. Bush’s ambassador to Canada. If you use the data from March ’01, Cellucci’s last full month on the job, he left the state with a jobless rate of 3.1 percent. If you use the April ’01 data, the figure was 3.3 percent. Either way, it’s comparable to the 0.9 percent drop that Romney presided over from ’03 to ’07.
The only governor in the decade before Romney’s arrival with a clearly worse jobs record was his immediate successor, Jane Swift, who served as acting governor from April ’01 to January ’03. During that time, unemployment climbed to 5.6 percent, which is where it stood when Romney was sworn-in.
So what Romney’s “best governor in a decade” boast actually means is that he had a better jobs record than Cellucci and Swift. And the reality is that there wasn’t a dramatic difference between his jobs record and Cellucci’s. So really, Romney is just bragging that he was better than Swift, who served less than half a term.
Then there’s this:
“He balanced every budget without raising taxes.”
This is only true in a very literal sense. Romney didn’t raise the income or sales taxes, but his first budget did impose more than $500 million in new fees that directly hit middle class residents. At the time they were enacted, the National Conference of State Legislatures noted that no other state had relied so heavily on fees to balance its books. Not that this is news: Obama’s campaign has been playing up Romney’s fee spree, and his Republican opponents threw it in his face during both of his presidential runs.
The ad’s final claim is that Romney achieved balanced budgets “by bringing parties together to cut through gridlock.” Again, this means a lot less than it sounds like. A balanced budget is required in Massachusetts and the state’s legislature is overwhelmingly Democratic. The only way for Romney to meet his constitutional duties was to sign a balanced budget approved by Democrats.
What Romney is banking on, of course, is that swing voters aren’t aware of this context, or don’t care about it even if they are. His entire strategy depends on economic anxiety leading voters to look for reasons to throw out Obama and to give Romney the benefit of the doubt, even if those reasons aren’t logical. From that standpoint, this ad might work just fine.
By: Steve Kornacki, Salon, June 8, 2012
Kevin’s Gift: “I Only Need One Reason To Oppose Mitt Romney’s Policies, And His Name Is Kevin”
At my father’s funeral, the presiding minister, Ebb Munden, was a man who had been one of my dad’s closest friends. Ebb talked about how the last time he had gone to see my dad before he lost consciousness, he had been very emotional but that my dad had comforted him by gripping his hand and telling him it would be alright, that my dad was at peace and Ebb should be too. The lesson was that even at our physically weakest we could still be helping other people and making things better in the world.
I was thinking of that this past weekend when I went to see my brother Kevin back home in Lincoln, Nebraska. Kevin is one of those people who followers of Ayn Rand’s philosophy would call a leech on society — Rand believed that people with disabilities were leeches and parasites on society, and that the “parasites should perish.” Kevin’s birth father broke a chair over his head and gave him brain damage, making him developmentally disabled and making it hard for him to speak clearly. He came to my family when we were both 11 years old, and has been not only my brother but one of my closest friends ever since. As an adult in recent years, his body has continued to betray him as he is hard of hearing, can’t see well, and has muscular dystrophy. Recently he had to go into the hospital for major surgery and then developed pneumonia — his muscular dystrophy makes it especially tough to recover from all this.
For all of that, though, Kevin still contributes to the world around him, just as he always has. He has always shown great tenderness to the people around him, and still does. He can’t talk right now because he is on a ventilator, but his expressive hands still say a great deal. After I was watching him go through strenuous rehab exercises, I came over to him after he was done and asked how he was doing, and he just grinned and patted me on my too-big tummy, not only telling me he was okay, but that maybe I should be doing more exercise too. Even with all the tubes attached to him, he was still up for playing catch with a plastic ball in his room. He still had smiles for, and played ball with, a 5-year-old girl who came to see him. One of the nurses at the Madonna Rehabilitation Hospital told me how touched she had been when he gave her a hug even though she was doing painful rehab exercises she knew he didn’t like. He still gave me all kinds of trouble, taking delight in showing me two stuffed dogs people had given him because he had named the big dog Kevin and the little dog Mike. And when I had to leave to go the airport and had tears in my eyes as I was leaning down to hug him goodbye, he rubbed my head to comfort me. I had come to comfort him in his time of pain, and he had comforted me even more. Kevin being a part of my life has been such a gift to me, and has made me 100 times better a person.
Kevin has also shaped my values and philosophy of life, and given me a perspective on policy issues. Conservatives are obsessed with the idea that somewhere, somehow there are lazy “undeserving” welfare recipients, but more than 90 percent of government support dollars go to the elderly, people working hard but are still below the poverty line because of low-wage jobs, and very disabled people like Kevin — those whose middle-class families like mine would be plunged into poverty if we had to pay for all their medical costs on our own.
It is Kevin who I think of when I see that the Ryan-Romney budget slashes money from Medicaid and from the Social Services Block Grant, a fund specifically targeted to help states meet the needs of their most vulnerable citizens. It is Kevin who I thought about when the audience at a Republican debate cheered about a man who had no health insurance dying. It is Kevin who I thought of when an audience at the Conservative Political Action Conference laughed and cheered when Glenn Beck gleefully proclaimed that “in nature, the lions eat the weak.”
A society that does not value my brother Kevin at least as much as it does the Wall Street titans who grow rich as they speculate with other people’s money, and use the tax code to write off the debt they use to buy and sell companies regardless of the consequences to the families who work there, is a sick society. A government that would cut support to middle-class families trying to support their disabled children so the wealthy can get more tax breaks — a government that actually decides to help the wealthy and powerful more than the poor and disabled — would be a government with no decency. That is what Mitt Romney, Paul Ryan, and the Republicans are proposing for us. Their hero Ayn Rand would be proud.
I have many reasons for working to oppose Romney’s policies. I think his economic policies are a disaster for an economy still weakened by allowing Wall Street to run roughshod over the rest of us for the first decade of this century. I’d like for people to have access to contraceptives, and all of us to have access to quality health care. The idea of appointing more Supreme Court Justices who support cases like the Citizens United ruling that have allowed “corporations are people, my friends” is destructive to our democracy. But even if all of that wasn’t there, I would only need one reason to oppose Romney’s policies, and his name is Kevin.
By: Mike Lux, Partner, Democracy Partners, Published in The Huffington Post, May 29, 2012
Romney-Trump In 2012: The “I’ve Got Mine And The Hell With You” Financiers
What could Romney’s handlers be thinking when they hyped his connection with Donald Trump — fundraising with Trump, offering supporters the possibility of a meal with Trump, relishing Trump’s attention and endorsement?
Trump signifies everything Romney presumably doesn’t want people to associate with himself — conspicuous wealth, arrogance, hubris, and a distinct preference for money over all other human values.
Trump, like Romney, represents almost everything that’s wrong with the American economy today — an unprecedented amount of wealth and power at the very top, widespread insecurity and declining real wages for everyone else, and a form of casino capitalism that places huge bets with other peoples’ money and depends on everyone else to bail it out when the bets turn sour.
But wait a minute. Perhaps Romney’s handlers are smarter than they seem. Maybe Mitt has decided to let it all hang out. Rather than try to hide what’s obvious to everyone, the new strategy is to make Romney’s liabilities into assets by flaunting them. Be even bigger and bolder. Money rules!
In fact, they’re mulling an even bigger and bolder move. They recall how Bill Clinton’s choice of Al Gore as running mate in 1992 — someone very much like Clinton — accentuated Clinton’s youthful energy, the new generation he represented, and the new start Clinton wanted to give America.
So they figure Mitt’s choice of Trump as running mate will allow Mitt to celebrate his boundless capacity to make money, the “I’ve got mine and the hell with you” financiers and CEOs he represents, and the social Darwinism that he and the regressive right are convinced will be good for America.
The new bumper-sticker: ROMNEY-TRUMP IN 2012. YOU’RE FIRED!
By: Robert Reich, Robert Reich Blog, May 29, 2012
“Delivering For The Well-To-Do”: Romney’s Bain Experience Wasn’t Real American Capitalism
The debate is on. The Obama forces and the Mitt Romney campaign are dueling back and forth with ads and heated rhetoric about Romney’s record at Bain Capital.
Actually, this debate began during the Republican primary season, when Romney was eviscerated by his probusiness foes vying for the nomination. Rick Perry called the Bain approach to business “indefensible,” “inherently wrong,” “vulture capitalism,” and Newt Gingrich called it “exploitation.” So, those who are worried that the critique of Romney’s role as a corporate raider is somehow a criticism of American capitalism or is somehow antibusiness should play back the Republican primary debate tapes.
Here are the fundamental questions about Romney and Bain: Did they help middle class, working families; did they create hundreds of thousands of jobs in America; was this American business at its best?
The answer, in my view, is clearly no. This is not George Romney running American Motors, this is not Steve Jobs creating Apple, this is not Ray Kroc developing McDonald’s. This is Wall Street run amok, with little regard for jobs lost, pensions lost, debt piled up, lives and communities left in tatters. The sole purpose of Bain Capital was to make money, and lots of it, for themselves and their investors. It was not to rebuild companies and rebuild lives. It had nothing to do with job creation.
If this is the Romney business “experience”—thanks, but no thanks.
The scary part of the Bain experience is that we have a candidate who favors $5 trillion in tax breaks, mostly for the wealthy, while unfairly targeting middle class families. The budget and tax policies advocated by Romney and House Budget Committee Chairman Paul Ryan of Wisconsin are inherently unfair to working families and continue the shift in income and benefits to those who have prospered this past decade.
In short, the Romney platform and the Romney experience at Bain point to a potential president who delivers for the well-to-do, not those who have been hurt by the economic collapse.
So, why does Romney favor, for himself and his wealthy friends, tax breaks to put money in Swiss bank accounts and the Cayman Islands? Why does he support carried interest deductions for the wealthiest Americans that allow him to only pay 14 percent in taxes? Why will he not admit that just because he can afford the lawyers and fancy accountants does not make it right?
Romney’s problem is that he is not supportive enough of real, fair, honest American capitalism—he is too tied to fast and loose Wall Street “exploitation” that got us all into this economic mess in the first place.
One can argue strongly that these money-making tactics have done far more harm than good to our economy and to American businesses over the past 20 years. That is why Bain and Wall Street excesses are so important to main street voters. That is why this debate about America’s future course is so important this election year.
By: Peter Fenn, U. S. News and World Report, May 26, 2012
“Life Is Too Short”: Typical American Worker Would Need 244 Years To Match CEO’s Annual Salary
The average CEO made $9.6 million in 2011, even as workers’ wages remained stagnant and unemployment hovered nationally around 8 percent. Chief Executive Officers are being paid at the highest-ever rate since the AP started tracking the figure in 2006, according to a new report from the news organization.
But while CEOs may be reaping the rewards of higher profits and a growing stock market, very little of that achievement spreads as far as the average worker — or even the company’s stockholders:
Profit at companies in the Standard & Poor’s 500 stock index rose 16 percent last year, remarkable in an economy that grew more slowly than expected.
CEOs managed to sell more, and squeeze more profit from each sale, despite problems ranging from a downgrade of the U.S. credit rating to an economic slowdown in China and Europe’s neverending debt crisis.
Still, there wasn’t much immediate benefit for the shareholders. The S&P 500 ended the year unchanged from where it started. Including dividends, the index returned a slender 2 percent.
As the AP noted, “the typical American worker would have to labor for 244 years to make what the typical boss of a big public company makes in one.”
Growing CEO pay is contributing to the larger trend of increasing income inequality — CEO pay increased 127 times faster than the average worker pay over the last 30 years, and the average Fortune 500 CEO made 380 times what the average worker did last year. Fortune 500 companies made a record $824 billion in 2011.
By: Annie-Rose Strasser, Think Progress, May 25, 2012
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