Obama Camp: Romney’s ‘Crony Capitalism’ Ad Is ‘Flat-Out False’

Start your day with TPM.
Sign up for the Morning Memo newsletter

The Obama campaign is accusing Mitt Romney of using debunked claims in his newest ad, which accuses the administration of using stimulus money and loan guarantees to finance foreign companies with investors who supported his campaign. 

“Mitt Romney’s desperate to avoid answering serious questions about his tenure at Bain Capital and his investments in foreign tax havens and offshore accounts,” OFA spokeswoman Lis Smith said in a statement. “So he’s joined his surrogates and allies in launching over-the-top attacks that independent fact-checkers and news organizations have said are ‘flat-out false,’ ‘wrong’ and use ‘weasel words.’ The truth is that President Obama’s investments in clean energy — along with the loan-guarantee program established under the Bush administration that Romney now attacks — have supported nearly 225,000 jobs in the clean energy sector and have helped bring our dependence on foreign oil to a 16-year low. President Obama refuses to cede the clean energy sector to China. Apparently Mitt Romney disagrees.”

Media reports and fact checks have taken issue with the ad’s claims in the past, noting that there’s no evidence that the ad’s cited grants and loan guarantees were motivated by political contributions from investors and that the companies cited in the ads say the funding they received went to jobs in the U.S.

Latest Livewire
Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: