Romney and Ryan Take the Stage Together in New Hampshire
Mitt Romney and his running mate Paul Ryan had a joint appearance on the campus green at St. Anselm College Monday. Ryan introduced Romney as the founder of Bain Capital, the Boston investment firm. Ryan added that Romney took struggling businesses and made them successful. He said that he is proud to stand next to a man who made jobs. He gave more opportunity for working Americans.
Independent fact-checkers had to work overtime during this presidential campaign. They asked for backup for the assertions made and Romney’s camp provided a letter from Bain partners that describe its record from 1984 to 2012. It said that the revenues increased during the time of their ownership in 80 percent of more than 350 companies that the firm has invested.
Romney said that he left Bain Capital in 1999 and has no responsibility for its investments in companies that lay off workers or went bankrupt after he left. The campaign failed to give details on the thousands of jobs made by Romney.
President Barack Obama accused Romney of getting millions of dollars in fees from takeover deals that led to massive layoffs and plant closings. It has been reported that out of the 77 Bain Capital clients between 1984 and 1999, 22 percent filed for bankruptcy reorganization or closed down shop.
Ryan’s appearance at New Hampshire is a big boost for Romney, who can’t seem to get big crowds at his rallies. But it also showed how candidates take liberties with facts during their speeches. Ryan said that Romney balanced the budget without raising taxes when he was governor of Massachusetts. But in reality, Romney increased corporate taxes and state fees by $750 million a year when he was governor. He had to do this in order to balance the state’s budget.
Ryan also said that they will stop the raid on Medicare. What he failed to mention was that none of the cuts the Obama proposed affect the benefits received by elderly and disabled patients. The savings will come from the decrease in government reimbursement rate paid to care providers.