Obama On Why Bain Is Important

Posted by on May 21, 2012 in 2012 Campaign | No Comments

President Obama, responding to a reporter’s question at today’s NATO summit, makes the case for why Mitt Romney’s record at Bain Capital is more than relevant to the 2012 campaign:

The reason why this is relevant to the campaign is that my opponent, Governor Romney, his main calling card for why he thinks he should be president is his business experience. He’s not going out there touting his experience in Massachusetts. He’s saying, I’m a business guy, and I know how to fix it, and this is his business.

And when you’re president, as opposed to the head of a private equity firm, your job is not simply to maximize profits. Your job is to figure out how everybody in the country has a fair shot. Your job is to think about those workers who get laid off, and how are we paying for their retraining. Your job is to think about how those communities can start creating new clusters so they can attract new businesses. Your job as president is to think about how do we set up an equitable tax system so that everybody’s paying their fair share, that allows us then to invest in science, and technology, and infrastructure, all of which are going to help us grow.

And so if your main argument for how to grow the economy is “I knew how to make a lot of money for investors,” then you’re missing what this job is about. It doesn’t mean you weren’t good at private equity. But that’s not what my job is as president.

My job is to take into account everybody, not just some. My job is to make sure the country is growing not just now, but 10 years from now, 20 years from now.

Clearly Obama is not going to drop this issue anytime soon. Like never! And say what you will about what Romney did at Bain (agree, disagree, don’t care), but is kind of funny Bain is all he talks about even though he was elected Governor of a state.

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