Obama to Expand Bain Ads
The Obama campaign will expand its attack on Mitt Romney’s time at Bain Capital despite being criticized by some of its supporters. They would tie the private equity firm’s strategies to Romney’s record as governor of Massachusetts.
The attacks on Romney’s business career are helping both parties draw battle lines for the upcoming presidential election. The Obama campaign portrays Romney as a corporate raider who is more interested in profits than jobs. On the other hand, Romney’s team is using the attack as evidence that the president is anti-business.
In the coming weeks, the Obama campaign wants to show that Romney’s four years as governor was based on Bain’s business principles. This included his record on education, job growth, deficits, and size of government. Their goal is to show how Romney’s background affects policy.
The attacks on Romney regarding his time as executive of Bain Capital have been questioned by several prominent Democrats have questioned their strategy. These include Newark, New Jersey Mayor Cory Booker.
The Obama campaign describes Bain Capital as a firm that made big profits on its investments by killing jobs and loading up newly acquired companies with large amounts of debt. Supporters say Bain and other equity firms fixed broken companies and improved their business but their strategies didn’t work all the time.
The campaign will expand with a modest advertising buy in Ohio and Obama’s campaign is considering moving into other states. According to a recent poll conducted by Wall Street Journal/NBC News, 53 percent of voters haven’t heard of Bain Capital before. It also showed that 19 percent among those who did heard of Bain view the firm in a negative manner compared to just 9 percent who viewed it positively.
The ads show a tightrope the president has to walk in as a positive vision of Obama’s presidency while trying to undercut Romney. Unlike the Republican candidate, the president can’t depend on super PACs to fund his advertising campaign.