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GOP2012: Republican debate, December 15th, 2011
The Reality
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Mitt Romney on Jobs

June 13, 2011 at

ROMNEY RHETORIC: "Now we have more chronic long-term employment than this couldn't has seen before. 20 million people out of work, stopped looking for work or are in part-time jobs that need full-time jobs."

REALITY: ROMNEY’S PRIVATE SECTOR CAREER CONSISTED OF PROFITING OFF OF LAYING OFF THOUSANDS OF WORKERS

  • Romney’s Fortune “Was Made On The Backs Of Companies That Ultimately Collapsed, Putting Thousands of Ordinary Americans Out On The Street;” [New York Post, 2/19/11]
  • Romney-Led Bain Capital Closed US Factories, Caused Hundreds Of Layoffs And “Pocketed Huge Fees Shortly Before The Companies Collapsed;” [Los Angeles Times, 12/6/07]
  • Romney’s Tenure at Bain “Resulted in the Loss of Thousands of Jobs Through Layoffs And Bankruptcies;” [CNN.com, 1/30/08]

REALITY: ROMNEY’S JOB CREATION RECORD IN MASSACHUSETTS WAS ONE OF THE WORST IN THE COUNTRY

  • During Romney’s Tenure as Governor, Massachusetts’ Economic Performance Was “One Of The Worst In The Country” On “All Key Labor Market Measures;” [Boston Globe, 7/29/07]
  • In Romney’s Four Years As Governor Massachusetts Ranked 47th Out Of 50 In Jobs Growth. [Marketwatch, 2/23/10]

REALITY: THE ECONOMY HAS ADDED 2.1 MILLION PRIVATE SECTOR JOBS OVER THE LAST 15 MONTHS, INCLUDING MORE THAN 800,000 JOBS SINCE THE BEGINNING OF THE YEAR

  • MAY 2011: Private Sector Payrolls Increased By 83,000 In May And Has Added More Than 2.1 Million Jobs Over The Past 15 Months.  [WH Council of Economic Advisers blog; [6/3/11]
  • CBO Said The Recovery Act Increased The Number Of People Employed By Up To 3.6 Million; [ABC News, 11/24/10]
  • USA Today: “President Obama’s Proposed Fiscal 2012 Budget Is Potentially a Massive Job-Creation Engine.” [USA Today, 2/15/11]

REALITY: ROMNEY SAID THE DEMOCRATS STIMULUS PACKAGE WOULD ACCELERATE THE RECOVERY

  • Newsweek: Romney Said The Democratic Stimulus Package “Will Accelerate” America’s Economic Recovery; [Romano, Newsweek, 3/22/10]
  • Boston Globe’s Joan Vennochi: While Romney Criticized Obama’s Economic Policies, “Romney Wrote In His Own Book, ‘No Apology,’ That A Stimulus Package ‘Was Called For’ After The Late-2008 Economic Downturn And The Democrats’ Stimulus ‘Will Accelerate The Timing Of The Start Of The Recovery.’ He Also Wrote That The Bank Bailout Was Necessary And ‘Did In Fact Keep Our Economy From Total Meltdown;’” [Joan Vennochi op-ed, Boston Globe, 8/22/10]
  • Romney: The Democrats Stimulus “Will Accelerate The Timing Of The Start Of The Recovery.” [Boston Phoenix, 2/10/10]

REALITY: FORECLOSURES UNDER ROMNEY SKYROCKETED

  • Foreclosures In Massachusetts While Romney Was Governor Went From 4,200 In 2003 To 19,500 In 2006; [Boston Globe, 4/1/11]
  • Foreclosures In Massachusetts In 2006 Totaled 19,487; [Business Wire Press Release, ForeclosuresMass, 2/6/07]
  • Foreclosures In Massachusetts In 2005 Totaled 11,493; [Business Wire Press Release, ForeclosuresMass, 1/30/06]
  • Foreclosures In Massachusetts In 2004 Totaled 8,689; [Business Wire Press Release, ForeclosuresMass, 1/30/06]
  • Foreclosures in Massachusetts In 2003 Totaled 4,167. [Boston Globe, 1/20/04]
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