Theodore's World: Rep. Paul Ryan To Obama Economic Adviser Austan Goolsbee on FOX News

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May 21, 2012

Rep. Paul Ryan To Obama Economic Adviser Austan Goolsbee on FOX News

Austan Goolsbee: This was a case where they (Bain) cancelled the pensions they drove the company into the ground. But the investors from Bain actually profited a great deal.

Chris Wallace (host): Let me follow up with Congressman Ryan because the Obama campaign says the point of Romney economics is to make money for Bain, to make money for their investors, even if all the workers get wiped out. And, in this particular case, in the steel mill in Kansas City the workers, that plant went bankrupt. 750 workers were laid off and Bain did make millions of dollars in profits.

Paul Ryan: You know what’s ironic about this, Chris? Mitt Romney was running the Olympics during this time. (Zing) He wasn’t even running Bain during the time period in question. (Zing) I think the individual, if I’m not mistaken who was running Bain is a big Obama contributor. (Zing) But, more to the point Chris. What Bain did was they used “private” capital to help struggling businesses. What President Obama is doing, is he’s gambling with taxpayer money (Zing) and giving money to corporate contributors, campaign contributors like Solyndra (Zing) and he’s losing taxpayer money. (Zing) So what we have in the Obama administration is this crony capitalism (Zing) this corporate welfare (Zing) where President Obama thinks it’s right to take taxpayer dollars to give to private companies and take bets on these private companies. (Zing) That’s wrong. What is right is a private sector where you have risk to capital. You put capital in businesses where they’re struggling or not to try to grow those businesses. Some succeed. Some don’t. On the net when Mitt Romney ran Bain they were very successful. They created thousands of jobs. (Zing) Great success stories. (Zing) But more to the point. We don’t think that government should be in the position of picking winners and losers in the economy which is the result of the president’s economics. ( K-POW!!!)


Wild Thing's comment.........

Loving Paul Ryan....he is sooooo good!!!

I would say this is a must see video for sure.

Posted by Wild Thing at May 21, 2012 12:55 AM


I watched the exchange and it was good. When it comes to economics, Ryan has it together.

Posted by: BobF at May 21, 2012 07:32 AM

There you have it folks. Chapter and verse. Any Questions?

Chris Wallace for all of his claims to be a intense questioner,blew it big time.

To begin with he should have known better that to discuss economic issues witht he likes of Rep. Ryan. Secondly he should have researched or had someone on his staff research the situation, before opening his mouth.

The real danger here is that exchanges like this and the resulting information, never gets to the folks who rely on the nightly news and the AP reporters for the information.

The reason being, Fact Checking before publication has become a thing of the past.

Posted by: Sean at May 21, 2012 10:37 AM

A debate between Ryan and Biden would be pure enjoyment.

Posted by: TomR,armed in Texas at May 21, 2012 11:44 AM

Thank you all so much!!!!!

Posted by: Wild Thing at May 22, 2012 03:21 AM