Obama's Vicious Smears, Lies Start To Backfire

With No Record To Run On And No Plan To Fix The Economy, The Obama Campaign Unravels Amid False And Debunked Attacks

The Obama Campaign’s False, Dishonest Attacks Aren’t Sticking – Because The Facts Aren’t On Their Side:

The Washington Post’s “Fact Checker”: “We Are Standing With Our Assessment That Mitt Romney Left The Helm Of Bain Capital In 1999, When He Left To Run The Salt Lake City Olympics.”
“As we wrote yesterday, we are standing with our assessment that Mitt Romney left the helm of Bain Capital in 1999, when he left to run the Salt Lake City Olympics. … Despite the furor, we did not see much new in the Globe article. … Romney’s sudden departure from Bain had left the partnership in flux, in fact almost breaking up the firm, and a final resolution was not reached until he ended his Olympic sojourn and decided to run for governor. At that point, he signed retirement papers that set his departure date as February 1999, the month he left for the Olympics.” (Glenn Kessler, “Do Bain SEC Documents Suggest Mitt Romney Is A Criminal?,” The Washington Post, 7/13/12)

“The Obama Campaign Is Blowing Smoke Here. … The Weight Of Evidence Suggests That Romney Did In Fact End Active Management Of Bain In 1999.”
“The Obama campaign is blowing smoke here. … Meanwhile, the weight of evidence suggests that Romney did in fact end active management of Bain in 1999. He stated that in a federal disclosure form he signed, under threat of criminal penalties. He said he was a ‘former employee’ in a state disclosure form. A state commission concluded 10 years ago that he did, indeed, leave Bain in 1999.  Investors in Bain funds were told he was not part of the management team.” (Glenn Kessler, “Do Bain SEC Documents Suggest Mitt Romney Is A Criminal?,” The Washington Post, 7/13/12)
FactCheck.org: Nothing New, Same Conclusion – The Obama Campaign Is Wrong. “New reporting cites strong evidence that Mitt Romney wasn’t actively managing Bain Capital while he was running the Olympics, despite what the Obama campaign (and some news reports) would have voters believe. … But we see little new in any of these SEC filings, and a University of Pennsylvania Law School professor we spoke to sees no basis for the Obama campaign’s claim that Romney committed a felony. None of the SEC filings show that Romney was anything but a passive, absentee owner during that time, as both Romney and Bain have long said. It should not surprise anyone that Romney retained certain titles while he was working out the final disposition of his ownership, for example.” (Brooks Jackson, “Romney’s Bain Years: New Evidence, Same Conclusion,” FactCheck.org, 7/12/12)

FactCheck.org Headline: “Romney’s Bain Years: New Evidence, Same Conclusion” (Brooks Jackson, “Romney’s Bain Years: New Evidence, Same Conclusion,” FactCheck.org, 7/12/12)
Fortune Magazine Also Jumped In To Discredit The Obama Campaign’s False Attacks.
“Mitt Romney did not manage Bain Capital's investments after leaving to run the Salt Lake City Olympic Games, according to confidential firm documents obtained by Fortune. … Bain Capital began circulating offering documents for its seventh private equity fund in June 2000. Those documents include several pages specifying fund management. … It then goes on to list 18 managers of the private equity fund. Mitt Romney is not among them. Same goes for an affiliated co-investment fund, whose private placement memorandum is dated September 2000. … As Fortune wrote earlier, Romney left Bain suddenly – rather than as part of an organized transition plan – after being asked to lead an Olympic organizing committee that had spiraled out of control. … In the interim, he continued to fulfill legal obligations such as signing certain documents – but actual investment and managerial decisions were being made by others.” (Dan Primack, “Documents: Romney Didn't Manage Bain Funds,” Fortune, 7/12/12)

Fortune Headline: “Documents: Romney Didn't Manage Bain Funds” (Dan Primack, “Documents: Romney Didn't Manage Bain Funds,” Fortune, 7/12/12)
“Mitt Romney Did Not Manage Bain Capital's Investments After Leaving To Run The Salt Lake City Olympic Games, According To Confidential Firm Documents Obtained By Fortune.” (Dan Primack, “Documents: Romney Didn't Manage Bain Funds,” Fortune, 7/12/12)
CNN’s John King Spoke With Four Current Or Former Bain Officials, All Of Whom Refuted The Obama Campaign’s False Narrative. CNN’s JOHN KING: “[Pagliuca] said ‘Mitt Romney left Bain Capital in February 1999 to run the Olympics and he has had absolutely no involvement with the management or investment activities of the firm or with any of its portfolio companies since the day of his departure.’ The three other sources were very consistent with that, Wolf. Now of the four sources, three of them are Democrats. Two of them are active Obama supporters in campaign 2012. They say they were all there at Bain at the time. They said Mitt Romney left pretty quickly. The deal with the Olympics was struck pretty quickly. They said we need you, we need you to come now and all four insisted he left in the middle of February 1999.” (CNN’s “The Situation Room,” 7/12/12)

But President Obama’s Entire Re-Election Strategy Depends On “Ferocious” Character Assaults And Distracting From His Record In Office:

For Months, The Obama Campaign Has Been Preparing “A Ferocious Personal Assault On Mitt Romney’s Character And Business Background…”
“Barack Obama’s aides and advisers are preparing to center the president’s reelection campaign on a ferocious personal assault on Mitt Romney’s character and business background, a strategy grounded in the early-stage expectation that the former Massachusetts governor is the likely GOP nominee.” (Politico, 8/9/11)

Politico Headline: “Obama Plan: Destroy Romney” (Politico, 8/9/11)
“The Dramatic And Unabashedly Negative Turn Is The Product Of Political Reality.” (Politico, 8/9/11)
  “Obama Appears To Have Resorted To Some Of The Same Tactics He Once Opposed.” “Now, in the throes of a sluggish economic recovery and tight general election race, Obama appears to have resorted to some of the same tactics he once opposed.” (ABC News, 7/10/12)

“An Unhappy And Intensely Negative Way To Run For Re-Election.”
“Romney’s wealth will be the cornerstone of the Obama campaign strategy and he will do everything he can to cast Romney as the villain in this play – the heel who the audience will love to hate. It’s an unhappy and intensely negative way to run for re-election, but given the state of the nation and voters views on his policies, it’s Obama’s best chance to hold the White House.” (Fox News, 4/11/12)

Why Is The Obama Campaign Doing This? It’s Not Hard To Tell:

“Confidence Among U.S. Consumers Unexpectedly Declined In July To The Lowest Level This Year As The Labor Market Showed Few Signs Of Improvement.”
“Confidence among U.S. consumers unexpectedly declined in July to the lowest level this year as the labor market showed few signs of improvement. The Thomson Reuters/University of Michigan index of consumer sentiment dropped to 72 this month from June’s 73.2 reading. The gauge was projected to rise to 73.5, according to a median forecast of 69 economists surveyed by Bloomberg News.” (Michelle Jamrisko, “Consumer Sentiment In U.S. Drops To Lowest Level This Year,” Bloomberg, 7/13/12)

The Economy In June “Remained In A Spring Slump” As Employers Added A Lower-Than-Expected 80,000 Jobs.
“The employment market emerged remained in a spring slump in June as employers added 80,000 jobs. The nation's unemployment rate was unchanged at 8.2% for the second consecutive month, the Labor Department said Friday. A consensus of economists had estimated that payrolls grew by 95,000 jobs last month, including 103,000 in the private sector.” (“8.2% Unemployment Rate Unchanged In June,” USA Today, 7/6/12)

“The Weakest Job-Adding Quarter In Two Years…
” HARWOOD: “Just 80,000 jobs added in the month of June, Michelle. 8.2% unemployment rate, unchanged, 12.7 million unemployed people, also unchanged. That makes the second quarter the weakest job-adding quarter in two years, an average of 75,000 jobs added in the second quarter of this year.” (CNBC’s “Squawk Box,” 7/6/12)

“U.S. Job Growth Barely Picked Up In June, The Latest Sign That Economic Growth Has Slowed.” “U.S. job growth barely picked up in June, the latest sign that economic growth has slowed. Nonfarm payrolls grew by 80,000 last month, the Labor Department said Friday. The politically important unemployment rate, obtained by a separate survey of U.S. households, was unchanged at 8.2%.” (Jeffrey Sparshott and Eric Morath, “Jobs Data Indicate Slowing Growth,” The Wall Street Journal, 7/6/12)

“Manufacturing In The U.S. Unexpectedly Shrank In June For The First Time In Almost Three Years.”
“Oil fell after manufacturing in the U.S. unexpectedly shrank in June for the first time in almost three years. Prices dropped 1.4 percent as the Institute for Supply Management’s U.S. factory index fell to 49.7 in June from 53.5 a month earlier.” (Moming Zhou, “Oil Drops As U.S. Manufacturing Shrinks In June,” Bloomberg, 7/2/12)

America’s First Quarter GDP Was A “Tepid” 1.9%, Which Is “Too Weak To Lower The Unemployment Rate.”
“Applications for unemployment benefits stayed above a level last week that is generally considered too high to lower the unemployment rate. And the annual growth rate for the U.S. economy in the January-March quarter was unchanged at a tepid 1.9 percent. … Growth of around 1.9 percent typically generates roughly 90,000 jobs a month. That's considered too weak to lower the unemployment rate, which was 8.2 percent last month.” (Christopher S. Rugaber, “Tepid Economic Growth Weighs On US Job Market,” The Associated Press, 6/28/12)

Average Weekly Wages Declined In 2011, “One Of Only Five Declines Since The Category Was Created In 1978.”
“Unemployment ebbs and flows, but one measure of the nation's economic health, average weekly wages, rarely dips. Until now. In the latest demonstration of the struggling economy that threatens President Obama's reelection, average weekly wages fell in 2011, one of only five declines since the category was created in 1978 by the Bureau of Labor Statistics.” (Paul Bedard, “Wages Drop, Only 5th Time In 33 Years,” The Washington Examiner, 7/2/12)

Since President Obama Took Office, Median Household Income Has Declined By $4,300. 
“Yet real median household income in March was down $4,300 since Obama took office in January 2009 and down $2,900 since the June 2009 start of the economic recovery, according to an analysis of census data by Sentier Research, an economic- consulting firm in Annapolis, Maryland.” (Mike Dorning, “Obama Fails To Stem Middle-Class Slide He Blamed On Bush,” Bloomberg, 4/30/12)

Median Family Net Worth Has Hit A Two-Decade Low. 
“The Great Recession shrank Americans' wealth so much that in 2010 median family net worth was no more than it had been in 1992 after adjusting for inflation, the Federal Reserve reported Monday. Median net worth declined from $126,400 in 2007 to $77,300 in 2010, a Fed survey of family finances found. The median marks the point where half had more and half had less.” (Martin Crutsinger, “Fed Report: Middle Class Net Worth Tumbles,” The Associated Press, 6/12/12)

President Obama Is Responsible For “The Most Rapid Increase In The Debt Under Any U.S. President.” 
”The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president.” (Mark Knoller, “National Debt Has Increased $4 Trillion Under Obama,” CBS News, 8/22/11)

This Year Will Be President Obama’s “Fourth Straight Year Of Deficits Over $1 Trillion.”
“Obama's budget projects that the deficit for the current year will total $1.33 trillion, the fourth straight year of deficits over $1 trillion.” (“Highlights Of Obama's $3.8 Trillion Budget,” The Associated Press, 2/13/12)

Nearly Three-Quarters Of Small-Business Owners Blame Obamacare For Hurting Job Creation.
“As part of the explanation for the general economic pessimism, 78 percent of small businesses believe that taxation, regulation and legislation from Washington make it harder for businesses to hire more employees — and 74 percent blame the recent health care reforms passed by the Obama administration for creating an impediment to job creation.” (Tim Mak, “Chamber Poll: Small Biz Blames D.C.,” Politico, 1/18/12)

Family Health Care Premiums Have Increased $2,393 During President Obama’s First Three Years In Office.
Average annual family premiums have increased from $12,680 in 2008 to $15,073 in 2011. (“Employer Health Benefits, 2011 Annual Survey, Exhibit 1.11” Kaiser Family Foundation, 2011)

“Americans Can't Seem To Shake Their Uneasy Feeling About The Economy.”
“Americans can't seem to shake their uneasy feeling about the economy. Consumer confidence fell in June for the fourth straight month … and corresponds with a slowdown in hiring by U.S. companies over the same period.” (Anne D'Innocenzio, “Consumer Confidence Slipped In June,” The Associated Press, 6/26/12)