While Newt Gingrich has attacked the business record of Mitch Romney, to whom he refers as a moderate Republican, President Obama has wasted no time to enter the debate. The President, who made it known that his re-election campaign is not in full swing yet, collected $68 Million in the last quarter. He had three fund raisers in Chicago earlier this week and made an official request to Congress this morning to scale down the government. Go figure.
Amidst the Gingrich attacks, Obama took full advantage to highlight the difference between the so-called Republican capitalism, which, according to the President, has created the disparity between the 1% and the Republican fat cats. Go figure. It should be no surprise that these attacks have played into the hand of Obama and if they continue could hand the re-election to him on a silver platter.
Stephanie Cutter, of the Obama campaign, send out a memo on Friday morning accusing Mitt Romney of destroying companies and good paying jobs in order to gain a profit. The conclusion of her memo below:
TO: Interested Parties
FROM: Stephanie Cutter
RE: Free Enterprise
Romney’s Economic Record: Profit at Any Cost
The New York Times observed that the Republicans’ economic ideas “not only are inadequate for [reviving the economy] but were instrumental in creating the nation’s current economic problems.” Mitt Romney’s record and proposals exemplify this more than most. With the devastation he left in his wake, Romney’s business record doesn’t reflect the virtues of free enterprise so much as the worst exploitation of it.
Our economic crisis and endemic income inequality were caused in large part by a few who put profits over people. Taking advantage of an uneven playing field, where there was one rulebook for those at the top and another for everyone else, Mitt Romney and his friends made money hand over fist while working families
lost their grip on the middle-class lifestyle they earned.
Between now and November the American people will decide whether to respond to this crisis by electing a corporate raider who profited from – and promises to restore – the conditions that caused it, or re-electing a President fighting to level the playing field for American businesses, restore fairness for consumers and help the middle class reclaim a sense of economic security that will benefit the entire economy. That’s what’s on trial, not “free enterprise.” Read the Full Memo Here