America Isnít a Corporation
I was somewhat startled by Romney's latest defense of his record at Bain —that he did the same thing the Obama administration did when it bailed out the auto industry, laying off workers in the process. One might think that Mr. Romney would rather not talk about a highly successful policy that just about everyone in the Republican Party, including him, denounced at the time.
Mr. Romney characterized President Obama’s actions: “He did it to try to save the business.” No, he didn’t; he did it to save the industry, and thereby to save jobs that would otherwise have been lost, deepening America’s slump. Does Mr. Romney understand the distinction?
Why isn’t a national economy like a corporation? There’s no simple bottom line. For another, the economy is vastly more complex than even the largest private company.
Even giant corporations sell the great bulk of what they produce to other people, not to their own employees. The fact that we mostly sell to ourselves makes an enormous difference when you think about policy.
Romney was a buyer and seller of businesses, often to the detriment of their employees, rather than someone who ran companies for the long haul.