At the news conference in Chicago following the G8 meeting, President Obama was asked about Romney's experience with Bain Capital and how that is relevant to this years campaign. President Obama gives a complete and thoughtful answer, destroying most of Romney's argument that his experience at Bain Capital left him uniquely qualified to improve business in the US.
OBAMA: But understand that their priority is to maxmize profits. And that’s not always going to be good for communities or businesses or workers…And when you’re president, as opposed to the head of a private equity firm, then your job is not simply to maximize profits. Your job is to figure out how everyone in the country has a fair shot. Your job is to think about those workers who get laid off and how are we paying for their retraining? Your job is to think about how those communities can start creating new clusters so they can attract new businesses. Your job as president is to think about how do we set up an equitable tax system so that everybody is paying their fair share that allows us then to invest in science and technology and infrastructure, all of which will help us grow. And so, if your main argument for how to grow the economy is, ‘I knew how to make a lot of money for investors, then you’re missing what this job is about.’
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