Mitt 'Job Destroyer' Romney slams Obama's plan to create jobs #p2 #tcot

here http://www.dailykos.com/story/2011/09/19/1018216/-Mitt-Job-Destroyer-Romney-slams-Obamas-plan-to-create-jobs?via=blog_589703

Shocking news. Mitt Romney ain't happy with President Obama's jobs plan:

President Obama's plan to raise taxes will have a crushing impact on economic growth. Higher taxes mean fewer jobs - it's that simple. This is yet another indication that President Obama has no clue how to bring our economy back. I encourage President Obama to look at my detailed economic plan to create long-term growth and prosperity for our nation. The only way to get our economy moving again is to elect a president who understands how to create jobs and rein in spending - that is why I am running.

Romney likes to say he knows what it takes to create jobs. Except the history of Bain Capital, the company he helped co-found, tells a different story.

Likely Republican presidential candidate Mitt Romney has been out on the pre-campaign trail this month saying he is the man to get Americans back to work, despite a spotty jobs record while on Wall Street.

However, the former private equity firm chief's fortune -- which has funded his political ambitions from the Massachusetts statehouse to his unsuccessful run for the White House in 2008 -- was made on the backs of companies that ultimately collapsed, putting thousands of ordinary Americans out on the street.

For example:

In 1992, Bain Capital purchased the company American Pad and Paper, which subsequently laid off 250 workers at an Indiana plant and hired some of them back after slashing their wages and retirement benefits.

And:

In 1993, Bain Capital bought the company GST Steel, which later filed for bankruptcy and closed a steel plant in Kansas City, and a string of smaller companies also ran into trouble after being acquired by Bain Capital.

Meanwhile, as governor of Massachusetts:

It's part of Mitt Romney's core narrative: Massachusetts, in the throes of a fiscal freefall, fell back on his CEO skills and turnaround wizardry to spark -- in his words -- "a dramatic reversal of state fortunes and a period of sustained economic expansion."

It's a rosy opinion of Massachusetts' economy that few in the state share. Instead, observers say, the state's recovery from a disastrous 2001 recession has been tepid at best, and Romney gives himself more credit than deserved on job creation and balancing the state budget.

Romney says that by the time he left office, the unemployment rate in Massachusetts was lower and the state had recovered nearly 80,000 jobs from the low point of the recession.

A fuller look reveals a state still struggling to recoup the jobs washed away in the recession, while much of the rest of the country has already sailed past pre-recession highs.

Romney's Massachusetts was in fact 47th in the nation in job creation. With a record like that, it's no wonder that he didn't run for reelection—and it's no surprise that he still believes it makes sense to double-down on the same policies that failed us during the Bush years.