A new ad is about to be released of a failed steel mill in Kansas MO that Bain Capital took over in 1993. Bain tried to turn it around and after 8 years of effort the steel company went bankrupt. First of all, companies go bankrupt in a free market economy. Second, the fact that people lost jobs is something we need more of in the federal sector. If the department of energy has failed in its mission to make us energy independent then the federal bureaucrats need to lose their jobs just like the people in the steel mill did.
The circumstances around the steel mill need to be vetted to determine if the unions had anything to do with the failure. Was the factory outdated and being beaten in the market by new plants and technology? What were some of the financial legacy costs? These are a few of the business questions that need to be addressed. I would like to hear the President’s assessment of the failure?
That brings me to the main point: What is the president’s experience in the private/business sector? Based on his record so far he has shown no propensity for understanding basic business fundamentals. He is strictly a political animal. He has never held what most Americans would consider a real job. So when he criticizes Mitt Romney and his extensive business experience I think he needs to give us his recommendation for what he would have done beside go into debt and print more money.
This is an easy argument for Mitt if he plays offense. My answer to this would be simply; in the private sector sometimes businesses fail even with the best of efforts. I would like to hear the president’s ideas for helping businesses to succeed so we can start creating jobs again in this country. So far the president and his party have failed to even provide the most basic framework, a budget, to assess how to improve the climate for business to start thriving again. He has not even a basic understanding of how to assess and implement the most basic reforms for improvement.
This president is a failure with no hope of ever grasping the issues necessary to turn around our private economy…