Romney economic speech at company that received stimulus funds
October 26th, 2012
11:38 AM ET
10 years ago

Romney economic speech at company that received stimulus funds

Ames, Iowa (CNN) - The owner of an Iowa construction company where Mitt Romney will deliver a speech on the economy received stimulus funds, according to the government's web site that tracks expenditures from the federal program.

Kevin Kinzler, owner of Kinzler Construction Services, received a $1.25 million dollar loan from the Small Business Administration through the American Recovery and Reinvestment Act in May of 2009, shortly after the stimulus plan was signed into law by President Obama.

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The Recovery.Gov web site describes the loan as being designed "to aid small businesses which are unable to obtain financing in the private credit marketplace."

In addition to the small business loan, Kinzler Construction Services also received nearly $650,000 in stimulus funds through grants provided by the Department of Energy. The grants were first reported by the left leaning blog, Think Progress.

Romney has made the plight of small businesses a key line of attack on Obama in the final weeks of his campaign.

"I want to make sure that we champion small business, we help small business grow and thrive," Romney said on Thursday in Cincinnati before embarking on a bus tour across the battleground state of Ohio.

The GOP nominee has also repeatedly labeled the stimulus program a failure and accused the president of basing his second term agenda around passing another round of Recovery-type funds.

"The president has the same old answers as in the past – he wants another stimulus, he wants more government workers, and he wants to raise taxes," Romney said at one Ohio stop.

In excerpts of Friday's speech on the economy in Ames released by his campaign aides, Romney is again expected to tweak the president's program.

"A new stimulus, three years after the recession officially ended, may spare government, but it will not stimulate the private sector any better than did the stimulus of four years ago," says one speech excerpt.

Eric Fehrnstrom, a senior campaign adviser, says Romney's speech will lay out why this is a "change" election.

"This election is about big things: education of our children, choices in our healthcare, whether we have jobs, the strength of our military, our dependence on foreign oil and America's place in the world," Fehrnstrom said.

"There are big choices facing the American electorate as they think about the election. Do they want real change or not?"

Filed under: 2012 • Economy • Mitt Romney
soundoff (82 Responses)
  1. Malory Archer

    In the words of the great Scooby Doo: Ruh roh!

    Wonder how the tighty righties are going to spin this one!

    October 26, 2012 11:43 am at 11:43 am |
  2. nvorr

    So, how much does Kevin Kinzler, owner of Kinzler Construction Services, who receive stimullus funds and grants, dislike President Obama for saving his butt?!

    October 26, 2012 11:43 am at 11:43 am |
  3. California Gary

    That's just too funny......Romney will be appearing at a company that was saved by stimulus funds to give a speech in which he slams stimulus funds and claims they didn't work? Whoever his lead person is out there setting up his venues needs to be fired. Once again, the Mittster looks like a fool.

    October 26, 2012 11:46 am at 11:46 am |
  4. Joe Kenya

    Romneys Team: Donald Trump FBI Director, John Sununu over Civil Rights and the Budget, Murdock Sec of Health and Human Services, Budget Director Sean Hannity Sec. Treaasury Rush Limbaugh: The only thing missing is their hoods and sheets 1950's here we come... Michele Bachman Sec of Defense

    October 26, 2012 11:48 am at 11:48 am |
  5. ThinkAgain: All of the GOP's policies are PROVEN FAILURES

    Mittens' "change" is to go back to the failed policies of the Bush years. It's that simple, it's that stark. You would have to be a scared fool to vote for Mittens.

    Obama/Biden 2012 = The only sane choice

    October 26, 2012 11:49 am at 11:49 am |
  6. incredulous

    It's interesting how often Romney mentions children while he plans to put in place policies that will deprive them of education, nutrition, health care, clean air and water and safe food. How does he sleep at night?

    October 26, 2012 11:50 am at 11:50 am |
  7. stranger in an increasingly strange land

    Romney must have forgotten that he is against stimulus money. Were it up to him he would be making this appearance in an empty building to unemployed workers.

    Go Mitt go. I don't care where as long as it is far away from any possible chance for you to ruin America to make money for your rich buddies.

    October 26, 2012 11:51 am at 11:51 am |
  8. ThinkAgain: All of the GOP's policies are PROVEN FAILURES

    As Paul Krugman points out in his editorial today, Mittens' economic “plan” is a sham. Long on stuff he claims will happen, with no description or specifics on HOW they will happen – including no list on which tax loopholes he would cut to offset his $5 trillion in tax cuts.

    (BTW, why bother to cut taxes if they are going to be offset? Isn't that "revenue neutral"? What's the point, other than to keep a bunch of accountants busy figuring out the new tax code?)

    Mittens is a fake. His economic plan relies on magic, somehow inspiring business confidence simply because he was a successful private equity guy. Actually, he wasn't that awesome at that: While Mittens ran Bain Capital, it
    invested in 77 businesses, 22% of which filed for bankruptcy or closed within 8 years – and Bain lost all money invested in 8% of them. Compare that to the 8% bankruptcy rate of the $90 billion the US government invested in green energy companies like Solyndra.

    Long story short, don't be suckered once again by the promise of cutting taxes on the wealthy, while spending more on defense. It's voodoo economics,

    trickle-down, denounced as a failure by everyone, including David Stockman who came up with it in the first place under Reagan.

    Obama/Biden 2012 = The only sane choice

    October 26, 2012 11:51 am at 11:51 am |
  9. Maxx

    Bain also was helped by gov't asssitance. All for me and none for thee!

    October 26, 2012 11:52 am at 11:52 am |
  10. dachozen1

    Ideology is more important than doing what is right.

    October 26, 2012 11:53 am at 11:53 am |
  11. BlkPwr817

    We ALL know that the "Stimulus" didn't work...LOL That's why Paul Ryan asked for it in his home state right? This small constuction company in Iowa of all places is still going strong. But the "Stimulus" didn't work...SMH

    Obama 2012!

    October 26, 2012 11:55 am at 11:55 am |
  12. Mikaz

    More hypocracy. Unbelievable that so many people like Kinzler are so hateful of others that they support a party that will be run by the Trumps, Adelesons, Murdocks, etc. Shameless behavior after his company was saved by Obama. And while Romney tries bash Obama, the economy keeps getting stronger and stronger! Mr. Kinzler should be ashamed.

    October 26, 2012 11:56 am at 11:56 am |
  13. 4moreyears

    Lawd Romney didn't do his research on the company before going there. This one is good. This guy is so out of touch. He is looking like a fool. And the owner of that construction company should be ashamed of himself for not speaking up. SMDH

    October 26, 2012 11:57 am at 11:57 am |
  14. sonny chapman

    The Govt. needs to leave my Medicare alone !

    October 26, 2012 11:58 am at 11:58 am |

    Now ain't that the pot calling the kettle black.

    October 26, 2012 11:59 am at 11:59 am |
  16. sonny chapman

    P.S.- Those pants gotta go !

    October 26, 2012 11:59 am at 11:59 am |
  17. TheVoice2

    This is weird, the owner is still in business. So what the hell is Mitt Phony doing there?

    Mitt Phony had a fundraiser in Texas that had Chenney, Bush, and Beck. We all know again who will be running this country if this guy is elected. He currently has 12 Bush policy in advisers working for him. The rich really think they can pull this off.

    October 26, 2012 11:59 am at 11:59 am |
  18. Rick 7809

    Facts mean nothing to teapublicans.

    October 26, 2012 12:05 pm at 12:05 pm |
  19. robert jay1

    does anyone believe the polls that 49% of the peole are stupid enough to actually support Romney? This country is in real trouble if thats true!

    October 26, 2012 12:07 pm at 12:07 pm |
  20. Lisa

    Why do the polls show that half this country is dumb enough to vote for Romney and lyin', photo-opp Ryan? I too feel like a "stranger in a strange land".

    October 26, 2012 12:08 pm at 12:08 pm |
  21. Bob

    Bishop Rmoney lies every time he opens his Mormon Cultist mouth.

    October 26, 2012 12:11 pm at 12:11 pm |
  22. GI Joe

    To sum up Mitt in two words - MITT LIES.

    Anyone that votes for him will rue the day, as he will outsource more jobs and cut more taxes for the wealthiest, but it will be too late. After 4 years of him, following 8 years of Bush (with a partial clean-up by Obama) this country will truly be sunk for decades.

    October 26, 2012 12:11 pm at 12:11 pm |
  23. Malory Archer

    Maybe this Kinzler guy invited the challenger to speak at his business in order to put him in his place. He isn't quoted in the article, so maybe he invited the challenger to rub his nose in the fact that the stimulus did INDEED work! Good on ya' Mr. Kinzler!

    October 26, 2012 12:13 pm at 12:13 pm |
  24. Barr ViagName

    Romney is indeed shooting again before aiming. How on earth do you go to a company that is in existence today largely in part because of Barrack Obama's federal stimulus to condemn the stimulus. If Romney was elected in 2008 this company would have been allowed to go bankrupt like Romney wanted the auto companies

    October 26, 2012 12:13 pm at 12:13 pm |
  25. Anonymous

    Romney would allow the payroll tax holiday to expire. This would immediately raise taxes on everyone, and would hit the working poor especially hard.

    They would repeal Obamacare, which would immediately kick about 17 million low-income earners and their family members off of Medicaid.

    In addition, they want to block grant Medicaid and cap its growth. In some states, this wouldn't have a big immediate impact. In other states, conservative governors and legislatures would use their newfound authority to limit enrollments and cut benefits substantially. Over time, all states would have to cut enrollments dramatically, probably by another 15-20 million within a decade.

    If they pursue the cuts outlined in Paul Ryan's budget plan, they would cut funding for SNAP (food stamps) by more than $100 billion over the next decade. The Center on Budget and Policy Priorities estimates that this would reduce enrollment in the program by at least 8 million people.

    They would cut funding for Planned Parenthood and other reproductive health organizations. This would especially hurt poor women, since they don't have the resources to pay for services at full-cost clinics.

    They would cut the college tax credit, the child tax credit, and the earned-income tax credit. All of these are programs designed to help the working poor.

    October 26, 2012 12:14 pm at 12:14 pm |
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