Barack Obama (D)
Barack Obama, 44th President of the United States, was first elected in 2008. Before he was president, he was a Senator from Illinois from 2005-2008 and an Illinois State Senator from 1997-2005.
Romney: Obama Isn't Working, China Stealing Copyrights
Yesterday, President Obama took his campaign to Cincinnati, OH. He continued to hammer GOP hopeful Mitt Romney on the issues of outsourcing and manufacturing jobs:
Citing an economic report released today on Mitt Romney's plan to create jobs, President Obama took Mitt Romney head-on, saying the former Governor of Massachusetts’s economic plan would only create jobs overseas.
Obama told a friendly crowd, "Now this shouldn't be a surprise. Because Governor Romney's experience has been investing in what were called 'pioneers' of the business of outsourcing."
"I want to give tax breaks to companies right here in Ohio that are investing in Cincinnati, that are investing in Hamilton County. I want to give incentives to companies that are investing in you, the American people, to create American jobs making American goods that we're selling around the world, stamped with three proud words: Made in America."
President Obama is out with another ad today that hits Governor Romney for Bain Capital’s history of outsourcing:
“What a president believes matters. Mitt Romney’s companies were pioneers in outsourcing U.S. jobs to low wage countries. He supports tax breaks for companies that shift jobs overseas. President Obama believes in insourcing. He fought to save the U.S auto industry and favors tax cuts for companies that bring jobs home. Outsourcing versus insourcing. It matters.”
Watch the full video here.
In a campaign stop in Waterloo, IA, Vice President Biden reiterated President Obama’s criticism of Mitt Romney’s business record:
“This good man, Mitt Romney, has looked at American workers, has looked at all of you, has looked at the places I come from, has looked at us as part of the problem,” Biden said. He added, “The president and I don’t see American workers as part of the problem. We see them as the heart of the solution.”
“Here’s the bottom line, folks: Bain and those companies, they made a great deal of money outsourcing, off-shoring American jobs,” he said. “Yeah, they made a lot of money, but in the process they devastated manufacturing here in America.”
In a speech today in Florida, President Obama pledged to keep working to keep manufacturing jobs from being outsourced:
“My plan will stop giving tax breaks to businesses that ship jobs and factories overseas, and start rewarding companies that create jobs and manufacturing right here in the United States of America.
“Now, not only does Governor Romney disagree with this plan, today it was reported in The Washington Post that the companies his firm owned were ‘pioneers’ in the outsourcing of American jobs to places like China and India. Pioneers!
“Tampa, we don’t need an outsourcing pioneer in the Oval Office. We need a President who will fight for American jobs and American manufacturing. And that’s what my plan will do.”
President Obama gave a major economic address today, speaking in front of a crowd at Cuyahoga Community College in Cleveland, OH:
Manufacturers have started investing in America again -- including right here in Ohio. And across America, we've seen them create almost 500,000 jobs in the last 27 months -- the strongest period of manufacturing job growth since 1995.
And when my opponent and others were arguing that we should let Detroit go bankrupt, we made a bet on American workers and the ingenuity of American companies -- and today our auto industry is back on top of the world
But let’s be clear: Not only are we digging out of a hole that is 9 million jobs deep, we’re digging out from an entire decade where 6 million manufacturing jobs left our shores; where costs rose but incomes and wages didn’t; and where the middle class fell further and further behind.
With the Presidential campaign kicking into high gear, the Obama campaign is turning its focus to Michigan and the legacy of the 2009 Auto Rescue:
Contrasting Obama's federal aid to the auto industry to Romney's opposition to direct loans from the U.S. Treasury has been a cornerstone Democratic campaign message in Michigan and other manufacturing states. Romney backed a managed bankruptcy of the automakers.
"If they needed help coming out of bankruptcy and government support, that was fine, but I was not in favor of the government writing billions of dollars in checks prior to them going into bankruptcy," Romney told The News recently.
Romney has vowed to aggressively campaign in Michigan on a message of jobs and arguing Obama's economic policies did not succeed in getting people back to work.
Read the full story here.
Vice President Biden was in North Carolina today to talk about manufacturing at a biotech firm:
The Winston-Salem area has suffered major job losses as a result of the declining manufacturing and textile industries in the region. But Biden pointed to the area's new focus on biotechnology and other types of innovation as an example of how Americans are re-imagining manufacturing in the modern era.
"What I can tell you about America is this: there is a deep deep strength in this country," he said. "No matter how tough things get, there is no quit in this country."
As the Presidential election shifts into high gear, Bloomberg Businessweek takes a look at the role that China’s currency manipulation is playing in the campaign:
The rhetoric on China is escalating as the two candidates appeal to voters hurt by the decline in U.S. manufacturing. They’ll also find that translating tough words into action is harder than buying commercial time. Obama hasn’t carried out many of the tough-on-China policies he promised four years ago. Republicans already are expressing concerns that Romney is locking himself into a too hard-line position.
“Whenever someone goes from campaigning to governing, the realities of engaging China forces moderation,” said Charles Kupchan, a professor of international affairs at Georgetown University in Washington and a senior fellow at the Council on Foreign Relations. “Despite the economic difficulties here and the deindustrialization in important swing states, neither party has really gone to the mat once they’re in office.”
President Obama was in Golden Valley, MN to visit a Honewywell International factory and call on Congress to pass legislation to increase job opportunities for veterans:
So this task force’s first action is going to create opportunities for up to 126,000 servicemembers to gain the industry-recognized certifications for high-demand manufacturing jobs like the jobs right here at this plant at Honeywell. This builds on the Skills for America’s Future partnership that we launched last year with the National Association of Manufacturers to provide 500,000 community college students with industry-recognized credentials that will help them secure good manufacturing jobs.
As President Obama and Governor Romney work to court voters, manufacturing issues continue to play front and center. A new Reuters story takes a look at blue-collar workers in Ohio who could swing the election:
As of this week, white working-class voters across the Rust Belt leaned toward Romney, with 44 percent of respondents in a Reuters/Ipsos poll saying they would vote for the Republican if the election were held today, versus 30 percent for Obama. (For purposes of the poll, the Rust Belt includes Indiana, Michigan, Ohio, and parts of New York and Pennsylvania.)
Yesterday, President Obama visited TPI Composites in Newton, IA. While there, he gave speech on manufacturing and the green economy:
And one of these modern windmills has more than 8,000 different parts -- everything from the towers and the blades to the gears, to the electrical switches. And it used to be that almost all these parts were imported. Today, more and more of these parts are being made here in America -- right here. We used to have just a few dozen manufacturing facilities attached to the wind industry. Today we have nearly 500 facilities in 43 states employing tens of thousands of American workers -- tens of thousands.
So we’re making progress. And you know it better than anybody. I mean, when I was talking to Quinten and Mark and a whole bunch of the other folks who are working here, they reminded me of the experience at working at Maytag and putting your heart and soul into a company and making a great product, and then, suddenly having that company leave, and how hard that was for families and how hard it was for the community. But folks made the transition.
And now, when you look at what's happening here -- 700 to 800 jobs, over $30 million being put back into the community -- this gives folks hope. It gives people opportunity. I met some folks who have been in manufacturing for 30 years, but I also met a couple of young folks who were just getting started. And that's what we're looking for. Nobody wants a handout. Nobody wants to get something for nothing. But if we've got a chance to create energy and create value and put people back to work, why wouldn't we do that?
In Ohio again today, Vice President Biden took a swing at GOP frontrunner Mitt Romney for opposing the 2009 Auto Rescue. CBS News reports:
"He said quote, 'I'll take a lot of credit for the fact that the industry has come back,'" Biden said jokingly, referring to an interview Romney gave to a local TV station earlier this month. "And by the way, I'll take a lot of credit for a man having land on the moon, because all the while in school, I rooted for it."
During his speech, Biden referred to the American-made cars parked behind him that were manufactured locally. "There is a lot more than a great car in there; those three cars behind me represent pride." Biden said pointing to the vehicles.
Biden told the crowd that the he and Mr. Obama "are completely confident letting you judge who brought the auto industry back. How the president views restoring the economy and the example of the automobile industry and how Romney views restoring the economy and the example how he worked as an investor are two cautionary tales."
Vice President Joe Biden was in Youngstown, OH today to talk about the administration’s plans for creating and sustaining manufacturing jobs:
Jobs are starting to come back. And the ones that are coming back are the kind you can build a middle class life on. Manufacturing jobs.
We want to make it easier for American companies to stay in America, come back to America, invest in America, create jobs in America.
That's why we’re prepared to lower the corporate tax rate by 20 percent. That’s why we want to end -- and end now -- the practice of companies getting
tax breaks for dismantling a factory and shipping it abroad.
We want tax credits for companies that dismantle factories abroad and bring them home.
President Obama’s new ad out today puts manufacturing issues front and center. The ad, called “Steel” features workers from a factory closed by GOP hopeful Mitt Romney’s Bain Capital, and talks about the importance of manufacturing jobs to communities. The New York Times reports:
In the new ad, former employees of GST Steel express anger at Bain. “Bain Capital walked away with a lot of money that they made off of this plant,” one former worker says. “We view Mitt Romney as a job destroyer.”
Another says Mr. Romney “destroyed thousands of people’s careers, lifetimes.”
President Obama was in Albany, NY today to tour a computer chip manufacturing facility. He used the event to call on Congress to pass a “To-Do List” for job creation. The list includes:
“Create Jobs By Investing In Affordable Clean Energy:Congress needs to help put America in control of its energy future by passing legislation that will extend the Production Tax Credit to support American jobs and manufacturing alongside an expansion of the 30 percent tax credit to investments in clean energy manufacturing (48C Advanced Energy Manufacturing Tax Credit)”
The plan also includes tax credits for companies that bring jobs back to the United States:
And reward businesses bringing jobs back to the United States: Congress should create a new general business credit against income tax equal to 20 percent of the eligible expenses paid or incurred during closing down operations abroad and bringing jobs back to the U.S. In order to qualify for this credit, companies would have to reduce or eliminate a trade or business outside the United States and start up, expand, or move the same trade or business to the United States.
Consider the same firm as above, except they are moving the facility from overseas back to the U.S. If this company were to move a manufacturing plant with 800 employees back to the United States from another country, and incurred $15 million in costs from packaging and transporting equipment, and cleaning up the old facility abroad, then under the President’s plan the company would still be able to deduct the $15 million, saving $5.25 million in taxes and on top of that wouldreceive a 20% credit on its $15 million in expenses – or a $3 million additional income tax benefit.
The April jobs numbers, while still in positive territory, were not what we needed to see. AAM’s Executive Director, Scott Paul, called the numbers “well below the trend of the past two years.”
President Obama took the opportunity to praise the continued growth of manufacturing jobs:
Manufacturing continues to be a bright spot and added 16,000 jobs in April. After losing millions of good manufacturing jobs in the years before and during the recession, the economy has added 489,000 manufacturing jobs since January 2010. To continue the revival in manufacturing jobs and output, the President has proposed tax incentives for manufacturers, enhanced training for the workforce, and measures to create manufacturing hubs and encourage the growing trend of insourcing.
Meanwhile, Governor Romney thinks that we can do better:
"Well, we should be seeing numbers in the 500,000 jobs created per month. This is way, way, way off from what should happen in a normal recovery. The reason that you’re seeing the unemployment rate go down is because you have more people dropping out of the workforce than you have getting jobs. It’s a terrible and very disappointing report this morning. Clearly the American people are wondering why this recovery isn’t happening faster, why it’s taking years and years for the recovery to occur and we seem to be slowing down, not speeding up. This is not progress; this is very, very disappointing and a lot of American people are having very hard times and this is not good news this morning.”
Although more action needs to be taken, it’s always a welcome sight when politicians speak about manufacturing jobs, an issue that is important to a vast majority of voters. President Obama is up with a new web ad that talks about his success in saving jobs during the recession. The ad notes the success of the Auto rescue that saved 1.1 million manufacturing jobs and helped to return Detroit from the brink of disaster.
The segment begins around the 1:25 mark.
Today, President Obama visited a truck factory in North Carolina to continue his push for a manufacturing revival in America. His plans include funding for communities to build alternative-fuel infrastructure, tax credits for alternative-fuel vehicles, supporting related research and development, and other initiatives to spur production of eco-friendly vehicles.
However, as National Journal reports, the announcement probably has more to do with politics than policy:
“The political timing of the announcement may be the most significant thing about it. While President Obama has always offered full-throated support for electric cars, he won’t be able to enact most of his policy proposals without action from Congress, which is locked in partisan gridlock on energy and just about everything else. And Republicans have recently increased attacks on Obama’s support of electric cars, as GM announced it is temporarily suspending production of the all-electric Chevy Volt, due to limited demand.”
President Obama is airing a new ad in Michigan that explains his support for American manufacturing. Good to hear the phrase "Made in America" being used.