Obama continues 'outsourcing' swipe at Romney
June 22nd, 2012
05:30 PM ET
10 years ago

Obama continues 'outsourcing' swipe at Romney

(CNN) - President Barack Obama amplified his campaign's recent attack against Mitt Romney on Friday, calling out his Republican rival over reports that Romney's former private equity firm advised companies on outsourcing American jobs overseas.

"We do not need an outsourcing pioneer in the Oval Office. We need a president who will fight for American jobs and fight for American manufacturing. That's what my plan will do," Obama said Friday at a campaign rally in Tampa, Florida.

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Earlier in the day, his campaign lit up with criticism against Romney after the Washington Post reported that Bain Capital, a firm Romney co-founded in 1984 and left in 1999, had invested in multiple companies that "specialized in relocating jobs." Several of the firms built new facilities "in low-wage countries," especially in Asia.

"(Bain) owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission," the report said.

In his speech Friday, Obama pounced on the report: "Today it was reported in the Washington Post that the companies his firm owned were pioneers in the outsourcing of American jobs to places like China and India. Pioneers!"

Obama's remarks came in a spirited speech to a fired up crowd at Hillsborough Community College in Tampa, the same town to host the Republican National Convention in August.

Democrats, particularly Obama's campaign, have pounded Romney over his history at Bain, using the firm as a way to frame the candidate as an out of touch businessman more interested in making profits for the wealthy than creating jobs for the masses.

Arguing that Romney uses his corporate experience as his calling card on the campaign trail, Obama said Friday that the presumptive GOP presidential nominee has the wrong ideas about how to turn the economy around.

"The challenge that we have faced for over a decade is that bigger profits haven't led to better jobs, bigger profits haven't led to higher incomes," Obama said.

His senior campaign strategist, David Axelrod, described the report earlier in the day as a "significant moment" in the campaign, signaling Obama's team may continue to use the new Bain offense against Romney in the coming days.

Responding to the report, Team Romney called the article a "fundamentally flawed story," arguing it fails to point out the difference between "domestic outsourcing versus offshoring."

Outsourcing, the campaign argues, is a common practice and can occur domestically without sending jobs overseas. Offshoring, on the other hand, involves shifting work out of house and overseas.

"Mitt Romney spent 25 years in the real world economy so he understands why jobs come and they go," said Romney spokeswoman Andrea Saul in statement. "As President, he will implement policies that make it easier and more attractive for companies to create jobs here at home."

A spokesman for Bain Capital also responded to the report Friday, simply pointing to its successful ventures since its founding.

"Bain Capital's business model has always been to build great companies and improve their operations," the company said in a statement. "We have helped the 350 companies in which we have invested, which include over 100 start-up businesses, produce $80 billion of revenue growth in the United States while growing their revenues well over twice as fast as both the S&P and the U.S. economy over the last 28 years."

Also see:

Romney set for biggest fund-raising day yet

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Obama campaign: Setting expectations for a brawl

Pro-Obama super PAC raises $4 million in May

Filed under: 2012 • Economy • Florida • Mitt Romney • President Obama
soundoff (83 Responses)
  1. conerned citizen

    Myviews Obama is not giving work permits to illegal imigrants but children who were brought to the US by their parents. Next, time get your facts straight.
    The only race that is actually American is the native american race, because your Ansestors stole their land from them. Always look in the mirror when your trying to make a point

    June 23, 2012 06:42 am at 6:42 am |
  2. BO Stinks

    Barry's unions did more to drive jobs overseas than anything else.

    June 23, 2012 07:19 am at 7:19 am |
  3. DC Observer

    This is a neew low even for Obama. Obama's campaign ads attack Romney's job creation while Governor of MA. The historical record shows that when Romney took office in Jan 2003 the MA unemployment rate was just 5.3% and when he left office in Jan 2007 the MA unemployment rate was just 4.9%. During Romney’s entire term as Governor the unemployment rate never got above where it started and was ALWAYS the same or lower than the US in total. The reason MA did not create a lot of jobs was because under Romney Massachusetts was always at or near full employment during his entire term. The old adage, there are lies; there are damn lies; and then there are statistics. Obama is deceitful and disingenuous. The real facts are that since Obama took office the US unemployment rate has been above 8%; the deficit spending increased; and the debt grew more under Obama than under any other President; we lost our credit rating under Obama for the first time in our history; and Obama has never passed a budget since taking office despite the Constitutional requirement to do so. Obama himself said if he did not turn the economy around in his first couple of years, he would not be reelected. We need to change leadership; Obama just cannot get the two parties to work together and we cannot afford more debt, more deficit spending, no jobs, and gridlock in DC.

    June 23, 2012 07:23 am at 7:23 am |
  4. DC Observer

    On the day Obama first ran his negative ad about Bain capital, he attended a $37,500 a plate fund raising dinner in NYC hosted by one of Wall Streeet's most influential investmant banker - you can ad deceit and hypocrit to Obama's long list of failing attributes.

    Obama is the largest job killer in history -he does not outsource jobs; he kills them altogether with failed policies.

    June 23, 2012 07:26 am at 7:26 am |
  5. Andrew

    He will win election because of the repubs choice of canadate!!!!

    June 23, 2012 07:30 am at 7:30 am |
  6. Q

    If Obama keeps making the gas prices lower, he has my vote............

    June 23, 2012 08:02 am at 8:02 am |
  7. qwerty

    Mr obama, what plan? You said that there would be one last time.

    June 23, 2012 08:17 am at 8:17 am |
  8. Wch87123

    All I hear is about Mexicans in the US are you going to work in the fields? And are you going to work the low paying jobs NOPE I don't think so.

    June 23, 2012 08:19 am at 8:19 am |
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