Sending Jobs Overseas? The Truth About the Obama/Romney Controversy
During The O’Reilly Factor’s Talking Points Memo, host Bill O’Reilly revealed the truth behind the president’s claims that Mitt Romney outsourced jobs during his tenure at Bain Capital. O’Reilly reported, “According to analysis by FactCheck.org, Bain Capital under Romney did invest in companies that did outsource. But that’s not unusual -- so did the Obama administration.”
“How can President Obama attack Romney for outsourcing when he did the exact same thing?” wondered O’Reilly, who added that, “The Obama administration has continued to make billions of taxpayer dollars available to the General Electric corporation, mostly through loans but there were some grants for green energy projects. GE employs about 300,000 people. Fewer than half – 131,000 -- are working in the USA. Let me repeat, less than half of GE’s workforce are employed in America.”
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To add to O’Reilly’s argument, according to The New York Times, GE paid zero federal income tax in 2010. Nevertheless, President Obama continues to praise GE’s CEO Jeffrey Immelt. In a speech, the president championed GE, saying, “I am so proud and pleased that Jeff has agreed to chair this panel -- my council on jobs and competitiveness -- because we think GE has something to teach businesses all across America.”
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Talking Points would like to know what GE could possibly teach American businesses. “How to create jobs overseas? How to avoid US corporate income taxes? How to borrow billions from the taxpayers? What lessons are we talking about Mr. President?” opined O’Reilly.
The bottom line he concluded is that, “Outsourcing a fact of life in capitalism. I don’t like it, but it’s legal and companies profit from it. The Obama administration has embraced corporations that practice outsourcing big time, and so did Mitt Romney. So I’d call it a tie, with the Obama campaign having some deep explaining to do.”
