During the month of July, Barack Obama relentlessly attacked Mitt Romney with bogus charges of outsourcing American jobs during his tenure at Bain Capital. Hypocrisy has become standard-operating-procedure for the Obama White House and campaign team. However, some new information suggests that if Obama really wanted to rail against the big outsourcer he should have been talking to the man in his mirror.
The Obama campaign spent millions on television ads accusing Romney of being the "outsourcer-in-chief." But, when scrutinized by political truth-testers across the nation, the accusations proved to be false.
Glenn Kessler, The Fact Checker at the Washington Post, found the charges to be "misleading, unfair and untrue."
FactCheck.org investigated and found "no evidence to support the claim that Romney – while he was running Bain Capital – shipped American jobs overseas."
Now comes the results of analysis of one of Obama's favored companies, General Motors, by Paul Roderick Gregory, research fellow at the Hoover Institute and Professor of Economics at the University of Houston.
Writing in Forbes this week, Gregory noted that at a recent Colorado campaign stop, "President Obama praised his GM bailout as an example for American industry." Obama went on to suggest that what he did for GM and the auto industry, he could to for others. "I don't want to outsource. I want to insource," he said.
But, as Gregory discovered, if Obama wants to make that claim, he'd better find a different example than General Motors.
"We need to look no further than General Motors’ own figures to learn that GM outsources almost two thirds of its jobs overseas. Less than one in five GM vehicles are manufactured in the United States."
Get the Market Movements in Advance: William's Edge Webinar for Wednesday, March 12th, 2014 | John Ransom