Tuesday, October 16, 2012

Romney Lies And Distortions About Gas And Oil Production

ROMNEY LIED: "As a matter of fact, oil production is down 14 percent this year on federal land, and gas production was down 9 percent. Why? Because the president cut in half the number of licenses and permits for drilling on federal lands and in federal waters."

OBAMA: "Very little of what Governor Romney just said is true. We've opened up public lands. We're actually drilling more on public lands than in the previous administration and my—the previous president was an oilman."

THE FACTS: Both statements ring true, as far as they go. Obama more correctly describes the bigger picture.


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According to an Energy Department study published in the spring, sales of oil from federal areas fell 14 percent between 2010 and 2011 and sales of natural gas production fell 9 percent, supporting dishonest Romney's point. The lower oil production was a result mainly of a moratorium on offshore drilling after the April 2010 BP oil spill in the Gulf of Mexico, the worst offshore oil spill in U.S. history.

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According to the same report, though, oil production from federal areas is up 13 percent since Obama took office despite last year's dip, and analysts say Gulf oil production is expected to soon exceed its pre-spill levels.

Natural gas production from federal areas has been declining for years because drillers have found vast reserves of natural gas in formations under several states that are cheaper to access than most federally controlled areas.

Romney Continued His Energy Lies! 


ROMNEY LIED: "The proof of whether a strategy is working or not is what the price is that you're paying at the pump. If you're paying less than you paid a year or two ago, why, then, the strategy is working. But you're paying more. When the president took office, the price of gasoline here in Nassau County was about $1.86 a gallon. Now, it's $4.00 a gallon. The price of electricity is up. If the president's energy policies are working, you're going to see the cost of energy come down."

THE FACTS: Presidents have almost no effect on energy prices; most are set on financial exchanges around the world. When Obama took office, the world was in the grip of a financial crisis and crude prices—and gasoline prices along with them—had plummeted because world demand had collapsed. Crude oil prices have since risen even as U.S. oil production has soared in recent years because global demand is reaching new heights as the developing economies of Asia use more oil.

Other energy prices have fallen during Obama's term. Electricity prices, when adjusted for inflation, are down, and homeowners are finding it much cheaper to heat their homes with natural gas. That's because natural gas production has surged, reducing prices both for homeowners and for utilities that burn gas to generate electricity.

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Romney lies about everything.

http://www.mercuryne...idential-debate

One big lie Romney tells is, "Government can't create jobs." yet as president he says he will create jobs.  

Romney's First Lie In The Second Debate

Mitt Romney wrongly claimed and LIED when he said that it took 14 days for President Barack Obama to brand the assault on the U.S. Consulate in Libya a terrorist act. Obama yet again claimed that ending the Afghanistan and Iraq wars makes money available to "rebuild America," even though it doesn't.

Now for the truth:

OBAMA: The day after last month's attack on the U.S. Consulate in Benghazi, Libya, "I stood in the Rose Garden and I told the American people and the world that we are going to find out exactly what happened. That this was an act of terror and I also said that we're going to hunt down those who committed this crime."

ROMNEY LIED: "I want to make sure we get that for the record, because it took the president 14 days before he called the attack in Benghazi an act of terror."

OBAMA: "Get the transcript."

THE FACTS: Obama is correct in saying that he referred to Benghazi as an act of terrorism on Sept. 12, the day after the attack. From the Rose Garden, he said: "No acts of terror will ever shake the resolve of this great nation, alter that character, or eclipse the light of the values that we stand for. ... We will not waver in our commitment to see that justice is done for this terrible act."

http://www.mercuryne...idential-debate

DAVID STOCKMAN, REAGAN'S BUDGET CHIEF: Romney NO Businessman


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David Stockman with the Gipper
DAVID STOCKMAN, REAGAN'S BUDGET CHIEF, ***DESTROYS*** ROMNEY THE LIAR'S "BUSINESS EXPERTISE" http://romneytheliar...dget-chief.html
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Reblogged from  Romney The Liar

Wow. I mean, just, wow. This is bone-crushing. Ronald Reagan's budget director, David Stockman, simply OBLITERATES Willard in this devastating Newsweek article. http://www.thedailyb...bain-drain.html There are many highlights; here are a few:

...Mitt Romney was not a businessman; he was a master financial speculator who bought, sold, flipped, and stripped businesses. He did not build enterprises the old-fashioned way—out of inspiration, perspiration, and a long slog in the free market fostering a new product, service, or process of production. Instead, he spent his 15 years raising debt in prodigious amounts on Wall Street so that Bain could purchase the pots and pans and castoffs of corporate America, leverage them to the hilt, gussy them up as reborn “roll-ups,” and then deliver them back to Wall Street for resale—the faster the better.

That is the modus operandi of the leveraged-buyout business, and in an honest free-market economy, there wouldn't be much scope for it because it creates little of economic value.
But we have a rigged system—a regime of crony capitalism—where the tax code heavily favors debt and capital gains, and the central bank purposefully enables rampant speculation by propping up the price of financial assets and battering down the cost of leveraged finance.

**********

The secret was leverage, luck, inside baseball, and the peculiar asymmetrical dynamics of the leveraged gambling carried on by private-equity shops. LBO funds are invested as equity at the bottom of a company’s capital structure, which means that the lenders who provide 80 to 90 percent of the capital have no recourse to the private-equity sponsor if deals go bust. Accordingly, LBO funds can lose 1X (one times) their money on failed deals, but make 10X or even 50X on the occasional “home run.” During a period of rising markets, expanding valuation multiples, and abundant credit, the opportunity to “average up” the home runs with the 1X losses is considerable; it can generate a spectacular portfolio outcome.

In a nutshell, that’s the story of Bain Capital during Mitt Romney’s tenure. The Wall Street Journal examined 77 significant deals completed during that period based on fundraising documents from Bain, and the results are a perfect illustration of bull-market asymmetry. Overall, Bain generated an impressive $2.5 billion in investor gains on $1.1 billion in investments. But 10 of Bain’s deals accounted for 75 percent of the investor profits.

Accordingly, Bain’s returns on the overwhelming bulk of the deals—67 out of 77—were actually lower than what a passive S&P 500 indexer would have earned even without the risk of leverage or paying all the private-equity fees. Investor profits amounted to a prosaic 0.7X the original investment on these deals and, based on its average five-year holding period, the annual return would have computed to about 12 percent—well below the 17 percent average return on the S&P in this period.

**********
The startling fact is that four of the 10 Bain Capital home runs ended up in bankruptcy
, and for an obvious reason: Bain got its money out at the top of the Greenspan boom in the late 1990s and then these companies hit the wall during the 2000-02 downturn, weighed down by the massive load of debt Bain had bequeathed them. In fact, nearly $600 million, or one third of the profits earned by the home-run companies, had been extracted from the hide of these four eventual debt zombies.

Read the whole thing, folks
. There's MUCH more, including the story of how Willard and friends stripped and looted companies with icy efficiency. Romney's lying, ridiculous claim to be "qualified" for the presidency is his so-called "business expertise". The only thing he's ever been an expert on is gaming the system so as to line his own pockets more efficiently. Read Stockman's warning--and GET THE WORD OUT! 
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Friday, October 12, 2012

MORE DIRT ON ROMNEY!

MORE DIRT ON ROMNEY!

Read About The Lies And Flip Flops of Mitt Romney Click HERE

Read HERE About Marriott And Romney's Son of Boss Scandal

Click HERE to find out about Romney's MASSIVE Medicare Fraud When He Ran Damon Corp

Click HERE  to find out more about Romney's 1981 arrest.

Click HERE  to find out why one of Romney's super PAC campaign backers was fined $12 MILLION!

Click HERE to read about one of Romney's biggest backers who is a money launderer.

Click HERE to read about how one of Romney's biggest backers is being investigated for prostitution.

Click HERE  to read about how Romney would impersonate a police officer and shake down motorists.

Click HERE to read how Romney bullied a gay student.

Click HERE to read how Romney hid his wrongdoing at the Salt Lake City Winter Olympics

VP Debate Fact Checked: 12 Bald Faced Ryan Lies Found

http://www.blogforarizona.com/.a/6a00d8341bf80c53ef017d3ca43968970c-320wi

Salon Fact Checked VP Debate


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10:15 — Taxpayer funding for abortion: Ryan says Democrats support taxpayer funding for abortion, pointing to Obamacare. That’s completely false. The bill never contained taxpayer funding for abortion, but it was nonetheless held up for months to appease pro-life Democratic Rep. Bart Stupak and the bloc that he lead.

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10:10 — Troops in Libya: Ryan said “nobody is considering sending troops to Syria.” In August,  Gov. Romney told CBS News that he would send U.S. troops to Syria if necessary to prevent the spread of chemical weapons. In his interview with CBS, Romney said, “I think we have to also be ready to take whatever action is necessary to ensure that we do not have any kind of weapon of mass destruction falling into the hands of terrorists and whether that requires troops, or whether that requires other actions by our friends and allies.”

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10:00 — Small Navy? Paul Ryan says Obama would reduce the Navy to its smallest size since World War I. Politifact gave that claim a Pants on Fire and called it ridiculous.

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9:55 — Sequester two-step: Ryan attacks Biden for automatic defense cuts that will go through if Congress does not act. Those cuts come from the “sequester,” the automatic trigger mechanism created by the congressional deal to raise the debt ceiling. You know who voted for that plan? Paul Ryan.
CONTINUE READING

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9:50 — Tax plan adds up? Asked by the moderator if he can “guarantee” that Mitt Romney’s tax plan adds up, Ryan says, “Six studies have verified this plan adds up.” Among the “studies” included in that figure are two Op-Eds and white papers written by the campaign or economists connected to the campaign. The most comprehensive and well-respected study done so far from the nonpartisan Tax Policy Center finds that the numbers do not add up. Not by a long shot.
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9:45 — Social Security and Medicare are not going broke: “Social Security and Medicare are going bankrupt. These are indisputable facts,” Ryan says. Actually both are disputable and neither are facts. People have been saying Social Security is going to go bankrupt for decades, it hasn’t yet, and it’s not going to. It’s currently projected to be fine for at least 40 years. Medicare is in more peril, but it is still nowhere close to anywhere near going bankrupt anytime soon. And Obamacare actually extended the life of the Medicare trust fund.

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9:40 — Ryan’s healthcare plan is bipartisan? Ryan claimed that his Medicare proposal was co-sponsored by a Democrat. He was referring to Sen. Rod Wyden of Oregon, who did create a plan to change Medicare, but once Republicans adapted it, he distanced himself from the bill this summer. In response to Romney’s continued claims on the campaign trail that the bill was bipartisan, Wyden told the Oregonian in August, “Bipartisanship requires that you not make up the facts. I did not ‘co-lead a piece of legislation.’”

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9:35 — What about in your own district? Ryan attacked Biden because the unemployment rate has gone up in his hometown of Scranton, Pa., under Obama and Biden. But the unemployment rate has gone up in Paul Ryan’s home district as well during his tenure in Congress. It was 3.8 percent when Ryan first took office in 1999 and was at 9.2 percent this August.
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9: 30 — Paul Ryan requested stimulus money: Joe Biden calls out Ryan for sending two letters requesting stimulus funds for his district, despite attacking the program. “We do that. We advocate for constituents’ interests,” Ryan said in response. That’s a new answer for Ryan, who previously blamed his staff. It’s actually his third answer. First, he said, “I never asked for stimulus.” Then, after being caught, he blamed his staff for allegedly mishandling the economy. “After having these letters called to my attention I checked into them, and they were treated as constituent service requests in the same way matters involving Social Security or Veterans Affairs are handled. This is why I didn’t recall the letters earlier. But they should have been handled differently,” he said in a statement. So his defending of the requests tonight is a bit of a departure. It’s also worth noting that Ryan supported the 2002 stimulus package proposed by George W. Bush.

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9:25 — Cars: “Mitt Romney is a car guy,” Ryan says earnestly. Mitt Romney also wrote an Op-Ed for the New York Times titled “Let Detroit Go Bankrupt.”

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9:10 — Marines: Paul Ryan, noting that there’s a Marine detachment at the U.S. Embassy in Paris asks, “Shouldn’t we have a Marine detachment?” in Libya. The infatuation with the Marines belies a deep misunderstanding of the role the service members play in foreign embassies. The Corps actually protects information, not personnel. And with only a little over 1,000 Marines serving as guards around the world, there are very few in any diplomatic post.
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9:05 — Diplomatic security: The debate opened up with a discussion of the attacks on U.S. diplomatic posts in Libya, with Paul Ryan attacking Biden for the Obama administration supposedly not doing enough to protect diplomats. But  Ryan’s budget plan would cut diplomatic security and House Republicans have already tried to do so. “For fiscal 2013, the GOP-controlled House proposed spending $1.934 billion for the State Department’s Worldwide Security Protection program — well below the $2.15 billion requested by the Obama administration,” the Washington Post’s Dana Milbank reported. In 2009, Ryan was one of 156 Republicans members to voted for an amendment to “reduce funding for Diplomatic and Consular Programs by $1.2 billion,” as the official record states. Rep. Jason Chaffetz, the Utah Republican who has been leading the charge on Libya in Congress, admitted on CNN this week that he “absolutely” voted to cut the diplomatic security budget.
Click on the RED type for more details.

MORE DIRT ON ROMNEY!

Read About The Lies And Flip Flops of Mitt Romney Click HERE

Read HERE About Marriott And Romney's Son of Boss Scandal

Click HERE to find out about Romney's MASSIVE Medicare Fraud When He Ran Damon Corp

Click HERE  to find out more about Romney's 1981 arrest.

Click HERE  to find out why one of Romney's super PAC campaign backers was fined $12 MILLION!

Click HERE to read about one of Romney's biggest backers who is a money launderer.

Click HERE to read about how one of Romney's biggest backers is being investigated for prostitution.

Click HERE  to read about how Romney would impersonate a police officer and shake down motorists.

Click HERE to read how Romney bullied a gay student.

Click HERE to read how Romney hid his wrongdoing at the Salt Lake City Winter Olympics