Republicans push back with 'public equity' criticism of Obama
May 29th, 2012
11:30 AM ET
8 years ago

Republicans push back with 'public equity' criticism of Obama

(CNN) - Democrats have attempted to stick a "private equity" attack on Mitt Romney, and now, Republicans have a parallel attack of their own: President Barack Obama is the "public equity president."

The GOP-aligned American Crossroads criticizes Obama in a new web video out Tuesday, hitting his administration's stimulus and economic recovery plans for "failed investment strategies, jobs eliminated, billions lost."

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The video singles out the auto bailout and loan guarantees provided to the clean energy company Solyndra, which filed for bankruptcy in August 2011 after receiving an Energy Department loan in May 2010.

Romney's campaign also brought up Solyndra in a Tuesday web video, criticizing the Obama administration for rewarding campaign donors with portions of ""billions of taxpayer dollars [given] to companies that later failed."

"Obama is giving taxpayer money to big donors and watching them lose it," a narrator in the Romney video says. "Good for them. Bad for us."

The American Crossroads super PAC and their ally, Crossroads GPS, gave no television buy for the web video, but have announced ad spending of $9 million since late April. They have produced television and radio spots, as well as other web videos, criticizing Obama's policies and labeling him a "celebrity president."

– CNN's Gregory Wallace and Paul Steinhauser contributed to this report

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Filed under: 2012 • American Crossroads • President Obama
soundoff (25 Responses)
  1. alpg49

    It wasn't an attack on private equity, only on one outcome of an investment by Bain. The investors got rich while the workers' pensions were taken away. Period. Only one instance, and it was totally legal, but still not something most people would be proud of. And the ad did not say "they were in good financial shape", they said the company "had a reputation for quality". Listen carefully. Think carefully.

    May 29, 2012 11:41 am at 11:41 am |
  2. A Southern Lady - North Carolina

    A good and decent man sits in the White House trying to get the country back to progress after eight years of the disasterous Bush presidency. The far-right Republican Tea Partiers will do anything, say anything no matter how untrue to try to bring down the President instead to working with him to help the country recover. They are more than willing to harm this county to get a Republican back in the White House. Many of the reasonaable Republican legislators have been kicked out of office by well-funded Tea Partiers who have never held office, refuse to compromise of ideas that will help the country and are willing to bring the county down to get their own way. Many long-gone prideful Republican legislators must be spinning in their graves at what has become of the party they so loved! What has happened to the once-proud Republican party?

    May 29, 2012 11:43 am at 11:43 am |
  3. MTATL67

    The Republicans response shows just how out of touch and don't get it and miss the point. Bain is not in the business of bettering America they are corporate raiders in business for pure profit. Which is fine but don’t try and sell us that Bain is some sort of USO, UNITED WAY helping to better America

    May 29, 2012 11:46 am at 11:46 am |
  4. kakaraka

    Really? IS Romney and GOP pals still criticizing President Obama for saving the auto industry?

    May 29, 2012 11:47 am at 11:47 am |
  5. Sal

    Boy, those BAIN years are really bothering everybody in the GOP. Lots of luck trying to clean Mitt up, GOP-PERS!

    May 29, 2012 11:49 am at 11:49 am |
  6. Dan from Tx

    Yes, yes... "public equity" is terrible. Terrible the way that just anyone can use our public streets. Terrible the way that just anyone is protected by our public military and police force. And all of those public parks.... terrible! ALL of these things should be reserved for the "private equity" people.

    May 29, 2012 11:53 am at 11:53 am |

    Willard wants to repeat Bush era policies. I'll pass.

    May 29, 2012 11:54 am at 11:54 am |
  8. Fair is Fair

    "The video singles out the auto bailout and loan guarantees provided to the clean energy company Solyndra, which filed for bankruptcy in August 2011 after receiving an Energy Department loan in May 2010."
    But... but... but... Rudy said it was a GRANT. Not a loan guarantee or an Energy Department loan. CNN needs to get their act together. Rudy said it was a GRANT.

    May 29, 2012 11:58 am at 11:58 am |
  9. Potrzebie

    "failed investment strategies, jobs eliminated, billions lost." uhjhh that would be George Bush.

    May 29, 2012 12:00 pm at 12:00 pm |
  10. Anonymous

    Another ad full of lies from American Crossroads, aka the Karl Rove propaganda shop. Solyndra execs also donated to the GOBP so Rove is lying by omission. And on the auto bailout, history shows President Obama was right and Rmoney the Coward was wrong. Full stop.

    May 29, 2012 12:01 pm at 12:01 pm |
  11. cali girl

    This is all you got Robmey?

    May 29, 2012 12:05 pm at 12:05 pm |
  12. J Russ

    how many jobs wre created when the government closed car dealerships?

    May 29, 2012 12:18 pm at 12:18 pm |
  13. Myviewis

    I don't see how Obama can criticize and be against Private Equity when Goldman Sachs who received a bailout from Obama was one of the partners of TPG (private equity firm) in the buyout of SunGard and Goldman Sachs ex-vice president Mark A Patterson is Tim Geitner's Chief of Staff. The very company Obama gave a bailout to is a company that does business with the top Private Equity firm TPG. This is hypocritical of Obama and Democrats.

    May 29, 2012 12:20 pm at 12:20 pm |
  14. Jerry

    The truth and nothing but the truth shall set US (you and me) free!!!

    May 29, 2012 12:20 pm at 12:20 pm |
  15. Sue

    One thing is for sure........Obama will be vetted for the November election!! I am so glad that Romney and the superpacs are exposing Obama/his policies and waking up the voters to the "real" Obama. If the pro-Obama media will not do its job and expose Obama, then the superpacs will do it for them. And, being that the majority of the country is suffering/struggling under the Obama "hopey and changey" nightmare administration–the voters have their eyes/ears opened this time. Fortunately, the Independents, moderates, and Vets are already seeing through Obama and his lies.

    May 29, 2012 12:22 pm at 12:22 pm |
  16. 1crusader

    This is all fiction.The stimulus worked, it just needed to be bigger.There were jobs created, with 26 mos. of jobs growth; and many saved-including in states where GOP Governors and other politicians wrongly took credit for its success, after opposing it.Many governors took the money to close budget shortfalls and to save jobs.

    May 29, 2012 12:23 pm at 12:23 pm |
  17. roscoe66

    Punish the successful and reward failure. It is the philosophy of the current administration.Lets just give this fella another 4 yrs and see just how bankrupt our country can become. He has ZERO to run on when it comes to the economy and he knows it.

    May 29, 2012 12:25 pm at 12:25 pm |
  18. Bren

    Wow, the "public equity Obama" is a great ad!! This should definitely open the voters' eyes. The other ad is just as powerful/great as well. Those chickens are coming home to roost Obama!!

    May 29, 2012 12:28 pm at 12:28 pm |
  19. Anonymous

    "I don't see how Obama can criticize and be against Private Equity "

    That's called a "strawman" you serial disinformation artist. President Obama has never been "against Private Equity". He has, however, criticized the excesses of capitalism and Rmoney's vulture capitalism in particular.

    May 29, 2012 12:34 pm at 12:34 pm |
  20. The Contentious Otter

    So, now Romney is claiming that the Auto Industry Bailout -which he claimed was originally his idea- was a failure?

    May 29, 2012 12:36 pm at 12:36 pm |
  21. Rudy NYC

    Democrats have attempted to stick a "private equity" attack on Mitt Romney, and now, Republicans have a parallel attack of their own: President Barack Obama is the "public equity president."
    The public is going to get sick of the juvenile name calling.

    The article mischaracterizes the Democratic attack on Mitt Romney and Bain Capital. Repubicans are trying to make it look like an attack on private equity, which it isn't. It is an attack against Romney's calling card, one that says he claims to have created 100,000 jobs while AT Bain. Republicans claim Romney's record is "out there for all to see." Oh yeah? Where is it? All I can find are quotes of every conservative on US soil proclaiming Romney's record, but no supporting facts.

    How hard would it be for one of these conservative superPACs to put together an ad that shows us at least some of the facts they keep insisting is out there? The only facts that we can find do not support Mitt Romney's claim.

    May 29, 2012 12:37 pm at 12:37 pm |
  22. Keith A. Sillsbury

    i'd rather invest tax money into American companies that are trying to retain American workers than to give money to fat cat investors on wall street and big banks for them to party with. I hope ALL rich investors loose every penny they invest. then they can live on the streets and maybe just maybe they can get a clue to whats going on in this country.

    May 29, 2012 12:49 pm at 12:49 pm |
  23. Donkey Party

    MyViews – wrong President, the bank bailouts were under the Bush Administration. I'd suggest you seek mental help, but there's nothing left between your ears to help. Brainwashed fool.

    May 29, 2012 12:50 pm at 12:50 pm |
  24. Donkey Party

    Sue – every ignorant, illiterate nonsensical comment you make screams "racist". Perhaps you should try increasing the thread-count in your hood and robes to comfort yourself.

    May 29, 2012 12:53 pm at 12:53 pm |
  25. Keith A. Sillsbury

    Whats really great is how all these GOP hired commenters come on and bash the president one after another with false claims and fear mongering. mitt will tear this country apart and sell it off to the highest bidder if he and his cronies ever got in the drivers seat, so it's up to all TRUE AMERICANS to make sure that doesn't happen.

    May 29, 2012 01:01 pm at 1:01 pm |