Mr. Romney’s experience at Bain is at the heart of his case for the presidency. He has repeatedly promoted his years working in the “real economy,” arguing that his success turning around troubled companies and helping to start new ones, producing jobs in the process, has prepared him to revive the country’s economy. He has fended off attacks about job losses at companies Bain owned, saying, “Sometimes investments don’t work and you’re not successful.” But an examination of what happened when companies Bain controlled wound up in bankruptcy highlights just how different Bain and other private equity firms are from typical denizens of the real economy, from mom-and-pop stores to bootstrapping entrepreneurial ventures. Bain structured deals so that it was difficult for the firm and its executives to ever really lose, even if practically everyone else involved with the company that Bain owned did, including its employees, creditors and even, at times, investors in Bain’s funds.”
“The central themes of the Romney plan are a rehash of Republican education ideas from the past thirty years, namely, subsidizing parents who want to send their child to a private or religious school, encouraging the private sector to operate schools, putting commercial banks in charge of the federal student loan program, holding teachers and schools accountable for students’ test scores, and lowering entrance requirements for new teachers. These policies reflect the experience of his advisers, who include half a dozen senior officials from the Bush administration and several prominent conservative academics, among them former Secretary of Education Rod Paige and former Deputy Secretary of Education Bill Hansen, and school choice advocates John Chubb and Paul Peterson. …Romney offers full-throated support for using taxpayer money to pay for private-school vouchers, privately-managed charters, for-profit online schools, and almost every other alternative to public schools.”
”Romney will encourage private sector involvement in higher education, by having commercial banks again serve as the intermediary for federal student loans, an approach Obama had eliminated 2010 as too costly. (Until 2010, banks received guaranteed subsidies from the federal government to make student loans, while the government assumed nearly all the risk. When the program was overhauled by the Obama Administration, billions of dollars in bank profits were redirected to support Pell Grants for needy students.) To cut costs, Romney encourages the proliferation of for-profit online universities.”
“…It is past time to abolish the program, root and branch. …… the case against ObamaCare extends far beyond questions about its constitutionality. President Obama‘s program is an unfolding disaster for the American economy, a budget-busting entitlement, and a dramatic new federal intrusion into our lives.It is precisely for those reasons that I’ve opposed a one-size-fits-all health care plan for the entire nation. What we need is a free market, federalist approach to making quality, affordable health insurance available to every American. Each state should be allowed to pursue its own solution in this regard, instead of being dictated to by Washington.”
“The nation’s health care tab is on track to hit $4.6 trillion in 2020, accounting for about $1 of every $5 in the economy, government number crunchers estimate in a report …
How much is that? Including government and private money, health care spending in 2020 will average $13,710 for every man, woman and child, says Medicare’s Office of the Actuary.
Compare it to this year, when U.S. health care spending is projected to top $2.7 trillion, about $8,650 per capita, or roughly $1 of $6 in the economy. Most of those dollars go to provide care for the sickest people.
Along with rising costs, the report found that the share of the health care tab paid by the government keeps growing, approaching half the total. …
…the United States continues to spend far more on health care than other economically developed countries. The study by the Commonwealth Fund found that U.S. health care spending per person in 2008 was more than double the median – or midpoint_ for other leading economies. “
If you followed Romney’s business practices to maximize profit to his private investors, expect that the same way he putting maximizing profit of his investors over retaining or creating jobs, he would as president let insurance companies once again drop patients that were costing too much and also allow insurance companies to pick and choose who they decide to insure in the first place. There is nothing inherently ethical about creating profit but there is about caring or not caring for and helping America’s sick. That is why keeping health care protection as a public good is necessary. The Romney Business Takeover Model to maximize profit for the few regardless of the cost and pain to the many needs to be rejected.
America can not afford to elect Romney and adopt the Romney Business Model of maximizing profits for the wealthy few. They are pushing what is essentially a hostile takeover of public education and health care and other services now provided by our Federal Government and want to privatize as much as possible for private gain. Creating wealth for a few at the expense of the many is a recipe for disaster for our country.
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- Robert Reich at Town Hall September 27th
- Amicus Brief to State Supreme Court: New Revenue Needed to Meet McCleary Requirements
- Save the Date: December 12th for Budget Matters 2014
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- Paul Ryan’s Anti-Poverty Plan Would Have Devastating Impact in Washington State
- Tim Eyman wants $2.2 million for statewide initiative to repeal $15/hour minimum wage
- State’s editorial boards continue to call on lawmakers to make “difficult choices” – without saying what those choices should be
- School districts across Washington State lead a revolt against failed federal policies
- Washington State Supreme Court agrees to hear constitutional challenge to I-1240
- Lauren Bacall: 1924-2014