Paul Krugman: Bain, Barack and Jobs

[babylonsister]

http://www.nytimes.com/2012/01/06/opinion/bain-barack-and-jobs.html

Bain, Barack and Jobs
By PAUL KRUGMAN
Published: January 5, 2012

snip//


The point is that Mr. Romney’s claims about being a job creator would be nonsense even if he were being honest about the numbers, which he isn’t.

At this point, some readers may ask whether it isn’t equally wrong to say that Mr. Romney destroyed jobs. Yes, it is. The real complaint about Mr. Romney and his colleagues isn’t that they destroyed jobs, but that they destroyed good jobs.

When the dust settled after the companies that Bain restructured were downsized — or, as happened all too often, went bankrupt — total U.S. employment was probably about the same as it would have been in any case. But the jobs that were lost paid more and had better benefits than the jobs that replaced them. Mr. Romney and those like him didn’t destroy jobs, but they did enrich themselves while helping to destroy the American middle class.

And that reality is, of course, what all the blather and misdirection about job-creating businessmen and job-destroying Democrats is meant to obscure.

[bigtree]

1. k&R

can't be pointed out enough. He not only has an economic plan that would make reagan blush, he's lying about his own record. He expects us to just ignore all of the folks he threw out of work for personal profit and focus on the jobs lost because of the past republican administration's malfeasance and blame that on President Obama.

[WillyT]

2. K & R !!!