Each morning, Bill Scher and Terrance Heath serve up what progressives need to effect change on the kitchen-table issues families face: jobs, health care, green energy, financial reform, affordable education and retirement security
MORNING MESSAGE: Mitt Romney, Vulture Capitalist
OurFuture.org's Terrance Heath: "One of the benefits of the seemingly endless Republican primaries, aside from the entertainment value, is the opportunity to discover how right the candidates are ... about each other. This week, Newt turned both barrels on Mitt Romney. ... Under Romney's leadership, Bain certainly created wealth for its investors, no matter what happened to the companies it acquired or the the people worked for them. The Wall Street Journal's revealing look at Romney's time at Bain shows that 22% of the companies Bain invested on under Romney's watch either filed for bankruptcy, reorganized, or closed their doors — sometimes with substantial job losses ... That's the way 'vulture capitalism' works..."
Romney Stumbles Toward NH Primary Finish
Romney's GOP rivals pile on his record of layoffs. NYT: "'If somebody’s going to crumble, they better crumble before the nomination,' said Newt Gingrich, accusing Mr. Romney of 'looting' companies at his investment firm, Bain Capital. He added, 'Is capitalism really about the ability of a handful of rich people to manipulate the lives of thousands of other people and walk off with the money?' ... [Huntsman said] 'Governor Romney enjoys firing people; I enjoy creating jobs.' ...As he sought to salvage his candidacy in South Carolina, Mr. Perry told voters that Mr. Romney’s firm had shut down a plant and fired 150 workers in the nearby town of Gaffney."
"Mitt Romney's job creator claim short on evidence" reports Politifact: "First he said that three companies Bain invested in had created 100,000 jobs: Staples, Sports Authority and Domino's. Later, after criticism those numbers didn't account for layoffs at other Bain companies, he said that overall, companies in which Bain invested created 100,000 net new jobs. Sure, some companies didn't fare well, he argued, but others more than made up for it. Romney's campaign has yet to release evidence to support the new claim ... Bain has refused to release a full list of companies it invested it."
$5M check to Gingrich Super PAC shows impact of Citizens United ruling. NYT: "... on Friday, the cavalry arrived: a $5 million check from [casino owner Sheldon] Adelson to Winning Our Future, a 'super PAC' that supports Mr. Gingrich. By Monday morning, the group had reserved more than $3.4 million in advertising time in South Carolina, a huge sum in a state where the airwaves come cheap and the primary is 11 days away. The group is planning to air portions of a movie critical of Mr. Romney’s time at Bain Capital ... The last-minute injection underscores how last year’s landmark Supreme Court ruling on campaign finance has made it possible for a wealthy individual to influence an election. Mr. Adelson’s contribution to the super PAC is 1,000 times the $5,000 he could legally give directly to Mr. Gingrich’s campaign this year."
Mother Jones ranks "The 20 Biggest Donors of the 2012 Election (So Far)"
NYT's Charles Blow fact checks Santorum's claim that President Obama wants to force all children to go to college: "I can’t find a single instance where the president has actually said that. The president has consistently framed the discussion as one of making high school graduates both college- and career-ready. And even when speaking about learning after high school, he has often included both higher education and vocational training ... A question, Rick: How does a person become an auto mechanic without either vocational training or an apprenticeship? Does he just spring forth from the womb knowing how to drop the transmission on a Dodge Durango?"
WH Staff Shuffle Signals Fighting Stance
Chief of Staff switch signals tougher posture toward GOP obstructionists. Bloomberg: "The departure of White House Chief of Staff William Daley reflects President Barack Obama’s choice to abandon a strategy of seeking accommodation with congressional Republicans and his critics in corporate America. ... He was a central player in Obama’s failed attempt to reach a long-term budget deal with Republicans last July. The president’s job approval ratings plunged after the August standoff on the debt ceiling that brought the nation to the brink of default. Congressional Democrats criticized Daley for concessions such as Medicare cuts the White House offered in its attempts to achieve a grand bargain."
President Obama tells rally "the very core of what this country stands for is on the line" in 2012, reports WSJ: "Mr. Obama, in an aggressive campaign speech, linked Republicans in Congress and those running in the presidential election, saying both would dismantle Medicare, rollback environmental regulations, lower the minimum wage and crack down on labor union organizing."
Breakfast Sides
Obama administration bans new uranium mining on 1M acres near Grand Canyon. McClatchy: "The ban will allow more than 3,000 existing mines and claims made before 2009 to continue, but it could prevent up to 30 new mines from being established ... Environmental groups praised the decision. But not everyone favored the ban, particularly members of the energy industry and some Republican lawmakers."
IRS extends program to track down offshore tax avoiders. NYT: "After collecting $4.4 billion in two previous so-called voluntary disclosure programs for offshore accounts, the Internal Revenue Service said Monday that it would revive the program. Participants will pay as much as 27.5 percent of their most valuable offshore assets or their biggest overseas bank account. They also must disclose the banks and advisers that helped them escape United Sates tax laws ... Still, the $4.4 billion is unlikely to plug the gap between the amount of taxes owed by American citizens and the amount the I.R.S. collects. The agency said on Friday that American companies and individuals did not pay $385 billion in taxes owed in 2006, the most recent such data available..."
Treasury Sec Geithner in China today to press on currency reform reports Bloomberg.
