“In my view of private equity is that it is set up to maximize profits…and that’s not always to be good for communities or businesses or workers” OBAMA 5/21/12
“The private sector is doing dine…If Republicans want to be helpful, if they really want to move forward and put people back to work, what they should be thinking about is, how do we help state and local governments”. —OBAMA 6/8/12
The net worth of the average American family is down almost 40% from 2007. 1/09 the current 8.2% unemployment rate is worst than the ’09 rate of 7.8%. The long-term unemployment, those out of work 27 weeks or more have increased by 2.7 million re the BLS.
Real median weekly earning has dropped 3% on Obama watch. Real median household income is almost 10% lower than it was in 1/09. Layoffs are rising, factory output is falling and consumer are cutting spending. The WSJ projects lackluster growth of about 2% for the rest of the year.
He’s openly defying and overstepping congress “because we can’t wait”, changing policy by fiat. He continues to blame “Bush, the GOP, ATM machines and European headwinds.
Democrats defended private equity—the hedge fund people, the Bain Capitals and the ones who invest in projects these governors need and want. And they’re huge donors!
Obama is the #1 recipient of campaign cash from private equity people. Obama collected $2 million in donations from Blackstone, a private equity firm.
Do you know what Obama doesn’t like about private equity? All they do is look for “profits”. He believes profit is the root of all evil.
“When your president as opposed to the head of a private equity firm, then your job is not simply to maximize profits. Your job is to think about how those communities can start creating new clusters so that they can attract new businesses. My job is to take into account everybody, not jus some…this is what campaign is going to be about. Without profits how will any of this happen?
He believes inexplicably that profits equal poverty. He believes that profits comes form money that should be kept in the pockets of the poor. He does everything he can to maximize his financial inflow his own profits, it’s okay for him to do that.
You’ve got to have profit before you can have employees, before the employees can have benefits. What is this business about him having to “figure out how everybody in the country has a fair shot”? That’s not the job of the President. He is supposed to enforce the constitution to promote liberty and limited government and guarantee our freedom!