The Obama campaign is getting giddy attacking Mitt Romney for Bain Capital sending money and jobs over seas and the trustee of his finances placing money in Swiss Bank accounts. Without arguing the veracity of those claims, the campaign should examine their own house before directing charges at others.
As president, Barack Obama has sent more jobs and money overseas and invested in more foreign banks than Bain or Mitt Romney ever could. The difference is Obama did it with American Taxpayer dollars.
- In August 2009 President Obama agreed to give Brazilian Owned Oil Company Petrobras up to $10 Billion
Dollars to look for Oil off the Brazil Coast. Here is a president who was preventing drilling in the US (which would create jobs), but shipping that money and those jobs overseas. I am sure the fact that George Soros made a lot of money off the deal had absolutely nothing to do with Obama’s decision.
- The Congressional Oversight Panel’s August 2010 oversight report,
called “The Global Context and International Effects of the TARP,”
shows that tens of billions of TARP dollars went overseas, and just like
the the dollars spent here, they did little to stop the global
slowdown. Also while the US gave money to international banks, where the
money could flow overseas, our allies made sure that money from their
TARP equivalents stayed in their own countries. In other words we funded
the bank rescues of OTHER countries.
- Nearly Half Of Obama’s $2.4 Billion Devoted To Advanced Vehicle Batteries Went To Foreign Companies. “Nearly half of the $2.4 billion in federal grant money awarded Wednesday to stimulate the U.S. economy and boost the production of hybrid and electric vehicles went to six companies with ties to places as far away as Russia, China, South Korea and France. … But because so few American companies have the necessary technology, much of the money will initially go toward manufacturing electric vehicle batteries overseas.” (Jerry Seper, “Obama Sends Stimulus Aid To Foreign Firms,” The Washington Times , 8/6/09)
- A Massive Stimulus Grant Program For Wind Turbines Was Exempted From The “Buy America” Provision In The Stimulus. “Matt Rogers, the senior adviser to the Secretary of Energy for the Recovery Act, denied there was a problem. …Several of the large European turbine manufacturers had limited manufacturing facilities in the United States, but there was nothing in the stimulus plan that required that the turbines, or any other equipment needed for the wind farms, be made here, said Rogers. There are strict ‘Buy America’ provisions in the Recovery Act, but this Green Energy Stimulus initiative turned the existing tax credits into cash grants, bypassing the ‘Buy America’ provision.” (Jonathan Karl, “New Wind Farms In The U.S. Do Not Bring Jobs,” ABC News, 2/9/10)
- The Department Of Energy “Acknowledged” That Up To 80 Percent Of Some Green Programs Went To Foreign Firms. “The Department of Energy estimated that 82,000 jobs have been created and has acknowledged that as much as 80 percent of some green programs, including $2.3 billion of manufacturing tax credits, went to foreign firms that employed workers primarily in countries including China, South Korea and Spain, rather than in the United States.” (Patrice Hill, “‘Green’ Jobs No Longer Golden In Stimulus,” The Washington Times, 9/9/10)
Oh and the campaign bus taking the President around the Mid-West, made in Canada.
A private company shipping jobs overseas is one thing….but a President shipping jobs and dollars overseas, during a recession….that is unforgivable. Perhaps the Democrats should add that to their commercial, or the president to his tweets.