It's About Time

For the last few weeks, the country has been treated to the ridiculous spectacle of president Obama and his campaign criticizing Mitt Romney as unfit for the presidency since some of the companies in which Bain Capital invested while Romney headed the company actually went under. That's right, the official Obamacrat line is that Bain bought a few companies, invested millions of Bain's dollars in trying to turn these companies around, but then failed with many folks losing their jobs. The point, according to the Obamacrats, is that Romney does not know how to create jobs.

This always seemed like a strange line of attack against Romney. After all, the record shows that about 80% of all of the companies in which Bain invested made money. Indeed, while Romney headed Bain, the companies in which Bain invested grew to create something over 100,000 new jobs. Sure, about 20% of the time, Bain (and Romney) were unsuccessful in turning around the target company. That is how capitalism works. Management tries to make the company efficient enough to prosper in the private economy, but sometimes other factors win out and take the company under. One thing we do know, however, is that without the involvement of Bain and Romney, essentially all of these companies would have failed and tens if not hundreds of thousands would have lost their jobs.

Today, the Romney campaign is out with a video that turns things around. Instead of looking at Romney's performance at Bain Capital it looks at Obama's performance with his green energy investments program. Obama took close to $35 billion or our money and gave it out to boost "green jobs". The majority of the money went to Obama's big contributors and friends. That's right, something like $20 billion of taxpayer money went to Obama's friends and family. And how many of these companies are successful? Is it anything like the 80% that Romney achieved? The answer is clearly no! There are no success stories for Obama. There is no equivalent of Staples or Dunkin Donuts like Romney had. There are only bankruptcies, layoff, fraud and investigations. Obama has completely failed. Here is the video. Watch it yourself.

So let's boil down this whole area. Obama and the Obamacrats say Romney is not qualified to be president since he was successful on 80% of the time. On the other hand, Obama has failed at the same task 100% of the time. I think it is safe to say that batting .800 is always better than batting .000 except in the world according to Obama. If you throw in all the payoffs to cronies, Obama is actually batting less than zero.