To the Telegram:
It seems the Republican Party is trying to get us to forget George W. Bush and the impact of his two terms as president. But we should not forget they supported his decisions that got us into two unfunded wars, reduced taxes on the wealthy, ballooned the national debt and fostered the most extensive economic collapse since the Great Depression. One reason they want us to forget is so we don’t make comparisons and see that Mitt Romney would be worse than Bush.
We know both came from wealth, having all their needs taken care of into adulthood. Their policies also are being shaped by many of the same advisers that guided the Bush presidency and made it a failure.
Where they differ is in business experience. Bush spent years in the oil industry and was a successful owner of a major league ball team. Romney made his undisclosed millions as a financial speculator who bought, sold, flipped and stripped businesses, according to the Oct. 22 edition of Newsweek. Bain Capital made most of its money through leveraged buyouts. They bought companies on borrowed money, made changes to make them look good. That generated stock sales. They got out with millions before the stock fell. Investors who were fooled made Romney rich. David Stockman, President Reagan’s chief economic adviser, describes leveraged buyouts as “capitalism’s natural undertakers” because they reduce trust in the market, investment and destroy jobs, according to Newsweek.
Throughout his campaign, Romney has boasted his business experience proves he will create thousands of jobs. A closer look shows his claims are unsupported by fact. They represent just more smooth talk from the kind of business person that contributed to economic decline.
Romney would be a worse president than George W. Bush. Both are minor leaguers compared to President Barack Obama.