Why Mitt Romney and the GOP Love Debt

[Galraedia]

Hiring the GOP to get rid of your debt problem is like hiring the GOP to get rid of your bin Laden problem. It has never worked before and it won’t work now.

Like Paul Ryan, Mitt has used this so-called debt emergency to propose a budget that cuts anything that doesn’t specifically benefit the rich. He then offers the richest Americans more tax breaks on top of the already untenable Bush tax breaks that were supposed to expire before the GOP let the economy become a global financial crisis.

Mitt claims that he’ll pay for some of his tax breaks with offsets—and Mitt, of course, refuses to name one offset. That’s a pretty good sign you don’t actually care about the debt.

But how can I get away with saying Mitt loves debt? That’s a strong charge.

Read more: http://eclectablog.com/2012/05/why-mitt-romney-and-the-gop-love-debt.html

[thelordofhell]

1. Rmoney made his fortune off debt

The Bain system uses the companies assets to secure a loan to buy the company, immediately putting it in an avalanche of debt. Then Bain executives get paid millions to "fix" the company by laying off and paring down the company until it either goes under or just barely stays afloat, leading to obscene bonuses paid to the executives.

[bemildred]

2. All of our money is debt.

That's where it all comes from. Without lots of government debt, the wealthy would have no safe place to park their cash.