Local leaders and concerned residents return to plaza where Romney campaigned to show what “Romney Economics” really means
LOS ANGELES – Today, Los Angeles County Democratic Party (LACDP) and area residents in Los Angeles held a press conference at the Valley Plaza Shopping Center in North Hollywood to expose Mitt Romney’s business philosophy and failed job record as Governor of Massachusetts as he visits Los Angeles for yet another round of high-dollar fundraiser with his one-percenter friends.
Just last year, Mitt Romney campaigned at this plaza and said the reason that businesses had not returned to this plaza was because of the policies from the Obama Administration – despite the fact that the plaza struggled long before President Obama took office because of the same failed policies that “Romney Economics” would return us to.
“Mitt Romney just doesn’t get it. He stood here at this plaza last year and said that the reason businesses were slow to return were because of the Obama Administration’s policies – completely ignoring the fact that this plaza struggled long before President Obama took office. Romney was making the same case to Los Angeles that he made to Massachusetts a decade ago. Because of his business background, Mitt Romney told the people of Massachusetts that he would grow jobs and shrink both deficits and government, but under Mitt Romney, Massachusetts ranked 47th out of 50 in job creation,” said Eric C. Bauman, Chair of the Los Angeles County Democratic Party and Vice Chair of the California Democratic Party.
In a career of buying and selling companies, Romney’s pattern was to reap quick profits for himself and his investors at the expense of workers and communities. Sometimes, it meant sending American jobs overseas. Other times, it meant cutting wages and benefits. In Romney’s economic philosophy, CEOs and wealthy investors prosper by any means necessary, even when it meant companies failed and workers were left behind.
“If people across California want to know how these values might impact them in a Mitt Romney Presidency, look no further than the Romney-Ryan budget. The Bottom line here is that Mitt Romney is just too out of touch with the needs of everyday Californians – folks who can’t seem to make sense of why seniors and the middleclass should foot the bill for tax cuts for the top 1% of Americans,” said Miguel Santiago, Los Angeles Community College Board President.
Recent college graduate Mark Gonzalez said, “According to one of Romney’s former partners, his business experience was about creating wealth for himself, his partners and his investors. Here’s how he played the game: Romney and his partners specialized in buying healthy companies, and loading them up with debt by borrowing money. Many times, they used that borrowed money to pay themselves millions in fees and dividends – even as they laid off long-time loyal workers and shipped American jobs overseas.”
Gonzalez continued, “Sometimes, if workers were lucky enough to keep their jobs, they would then see their paychecks, benefits and pensions slashed. But, too often, the debt led to bankruptcy, and that led to workers losing their jobs, their health care, and their pensions, even as Romney and his partners walked away with millions.”
LACDP Chair Eric C. Bauman said, “Put simply: if Romney believes he can grow the economy for the long term, then he learned the wrong economic lessons and values from his private-sector experience. We need to restore middle-class security and create an economy built to last, but Mitt Romney’s economic values would do further damage to the middle class.”
“We don’t want an economy where workers are left behind. Romney doesn’t get how the economy works in the lives of everyday Americans. He doesn’t get that the real strength of the economy is a growing, thriving middle class. That’s why we’re here to serve him a ‘pink slip’ and say: Governor Romney, California can’t afford Romney Economics. America can’t afford Romney Economics. It didn’t work for Massachusetts, and it won’t work for California,” continued Bauman.