THE BURNED OVER DISTRICT

Any time you hear him proclaim that he knows how to reduce deficits and balance budgets. In the Mittwit's three great claims to fame, he never had to do that and he never did.

When Romney says he knows how to reduce deficits and balance budgets, he is lying because it is not the business model he used to create his enormous wealth. His practice was creating debt that someone else had to repay, and when they could not, Bain bought the distressed company, stripped assets, and sent profits offshore to avoid the Internal Revenue Service. When Romney ran the 2002 Olympics, the American people paid $1.5 billion as Romney’s cronies reaped the profits.

When he was governor of Massachusetts, he ran up over $1 billion in debt and left taxpayers and the next governor the bill as he began his six year quest for the White House. Now, Romney expects Americans to believe he knows how to reduce the deficit and balance the budget when it is contrary to his entire record? It is impossible to think this man who spent his entire career creating debt for profit is going to “run” the largest economy in the world and not create more debt. It is not likely; not for Romney, or any other Republican president.

Romney’s tax plan alone will increase the deficit by $5 trillion, and that is not including $2.1 trillion increase in defense spending. The 20% across-the-board tax cut and elimination of capital gains and investment taxes means government will have to borrow to fund the cuts and to keep operating. One thing is certain, if a small business owner was told to take on massive debt with no way to repay it and trust providence would repay the debt, they would run for the hills. There is nothing in Romney’s past, or his proposals for the future, that demonstrate he has any knowledge or experience reducing deficits because he never did, does not know how, and it remains a mystery to Republicans.

Mitt is skilled at diverting the cash to himself and his cronies, but he isn't the one who creates it. He just takes it.