As the Obama campaign continues to press its case against Republican opponent Mitt Romney for outsourcing jobs, President Barack Obama faces criticism from the left for allegedly continuing to allow U.S. jobs to move overseas during his presidency (WashPost).
Obama campaigned in 2008 on keeping U.S. jobs in the country and rewriting the rules that allow U.S. corporations to avoid paying taxes for a time on income generated overseas. But his critics say he has not delivered, and that he should have confronted China, reined in unfettered trade, and reworked a U.S. visa program critics say ends up sending high-tech jobs abroad.
“He has walked away from the campaign commitments,” Robert E. Scott, director of trade and manufacturing policy research at the liberal Economic Policy Institute told the Post. “He has done far too little to improve U.S. trade.”
In Cedar Rapids, Iowa, RNC Chairman Reince Priebus plans to unveil a new Republican web site (ABC), which he believes will show how Obama’s policies have led to U.S. jobs moving overseas.
The site is part of an effort to go on the offensive after attacks from Obama’s campaign on Bain Capital, the private equity firm Romney founded that the president’s aides have called a “pioneer” in outsourcing U.S. jobs to low-wage countries. The teaser video for the web site (NYT) says Obama “shipped the recovery overseas,” showing a moving red dot that ends up in China.
President Obama is set to deliver Tuesday speeches in Cedar Rapids (AP), focusing on his plans to rebuild the economy for the middle class, make investments in education, and institute tax cuts.
The speech comes as Obama and Romney clash over the idea of economic fairness and Obama seeks to elevate the tax debate as a major election issue, pushing his agenda to raise taxes on those making over $250,000 per year.
— Gayle S. Putrich, Contributing Editor