Republicans cow pie of distortions - (known to most as lies)
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Obama calls Romney speech "cow pie of distortion"
Republicans want to blame Obama for the National debt they created under the Bush Administration in the years before the financial crisis of 2008 - a crisis which was fostered by republicans love of deregulation and their constant gutting of financial regulatory oversight agencies.
Gutting financial regulation is like taking all the road signs and stop lights off the roads, and for some reason Republicans just don't get it. They think that the greedy culture of Wall Street will have the conscience to regulate themselves - like trusting a thief in a jewelry store. Wall Street is an industry that inspired the fictional character Gordon Gekko in the 1987 film Wall Street where he famously declared, "greed is good" - a saying that was quickly taken up by the real wall street culture. The Gordon Gekko character was based on Michael Milken, the "Junk Bond King" of the 1980s, who was indicted on 98 counts of racketeering and fraud in 1989.
~ President Barack Obama:
"In some cases companies are loaded up with debt... not to make the companies more productive... not to buy new equipment to keep them at the cutting edge, but just to pay investors. That may be the job of somebody who is engaged in corporate buyouts... that's fine... but that's not the job of a President - That's not the Presidents job. There may be value for that kind of experience, but it's not in the White House."
Watch some good Romney clips, a Bernie Sanders interview, and more from Obama's speech:
~ Bernie Sanders:
"What Romney economics is about is trickle down economic theory, that's what George W Bush practiced for eight years. We lost, during that period, six hundred thousand jobs, median income went down, the rich got richer, poverty increased. We cannot afford to give more tax breaks to the richest people in this country when we already have the most unequal distribution of wealth and income of any major country on Earth, and it's far greater in this country than any time since the 1920's. We can't do more deregulating of Wall Street when deregulating Wall Street caused the horrendous recession that led to so much suffering in America."
"93% of all new income created in 2010 went to the top 1%. All the economic growth is going to make the richest people richer while ordinary Americans are working longer hours for lower wages. That is the kind of economic mentality that Mitt Romney has."
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Cow pies fly in Obama’s, Romney’s war of words
Craig Melvin talks to The Grio’s Joy-Ann Reid, Republican strategist Juliana Glover, and Democratic strategist Julian Epstein about the colorful language in the brewing debate between Mitt Romney and President Obama, who described Republican attacks on his record as a "cow pie of distortion."