- Strong quake hits Japan, triggering tsunami
- Sniper heaven: Pentagon’s self-guided bullets leave enemies nowhere to hide
- Violent gang taking advantage of immigration crisis, using border as recruiting hub
- Medicaid enrollment continues to soar under Obamacare, administration says
- Michelle Obama to Latinos: ‘We cannot afford to wait on Congress’ for immigration
- White House urges GOP to act ‘urgently’ on $3.7 billion request for illegal immigrants
- Politicians, criminals using ‘right-to-be-forgotten’ law EU courts forced upon Google
- Combat fatigue: elite special forces troops are ‘fraying,’ Gen. Joseph Votel warns
- German foreign minister to meet Kerry to discuss spying claims
- Florida police spokesman tells citizens: ‘Get yourself some firearms’
Obama ‘in-sourcing’ forum highlights GOP divisions
Question of the Day
Republican presidential hopefuls assailing Mitt Romney for his time spent as a leveraged-buyout specialist at Bain Capital got a helping hand Wednesday from President Obama.
The president convened a meeting of academics and business executives at the White House to commend companies that have chosen to “in-source” — keeping resources and jobs in the U.S. — and to explore tax breaks, federal subsidies and other incentives to encourage other businesses to follow suit.
At the forum, Mr. Obama sought advice from executives at companies such as Ford, padlock manufacturer Master Lock, North Carolina company Lincolnton Furniture and health care software developer GalaxE.Solutions — businesses that have bucked a recent trend toward outsourcing manufacturing jobs.
“These companies are choosing to invest in the one country with the most productive workers, best universities and most creative and innovative entrepreneurs in the world: the United States of America,” Mr. Obama said at the event. “That’s exactly the kind of commitment to country we need — especially now, at this make-or-break moment for the middle class.”
With Mr. Obama heading into a tough re-election fight, the event highlights the president’s efforts to shore up support among working-class Americans and organized labor, which gave Mr. Obama high praise for hosting the event.
“For too long, the 1 percent have sought and received tax breaks that actually created subsidies for corporations exporting good American jobs overseas,” AFL-CIO President Richard Trumka said in a statement. “We look forward to working with the administration to end those job-destroying tax subsidies and implement policies that encourage investment and job creation here at home.”
But the forum also focuses attention on the divisions among Republicans on outsourcing.
Former House Speaker Newt Gingrich and Texas Gov. Rick Perry in recent days have attacked Mr. Romney for helping companies restructure at the expense of American jobs.
Mr. Romney vehemently defends his record, arguing that he helped the businesses become profitable again and helped create a net 100,000 jobs.
Mr. Romney, fresh off his big win in the Republican primary in New Hampshire on Tuesday night, warned Mr. Obama on Wednesday that the president is vulnerable on the issue as well.
“The president took the reins of General Motors and Chrysler, closed factories, closed dealerships, laid off thousands and thousands of workers. He did it to try to save the business,” Mr. Romney said on “CBS This Morning.” “[We] had, on occasion, to do things that are tough, to try to save a business.”
At the White House business forum, Mr. Obama focused on the migration of many middle-class manufacturing jobs to cheaper labor markets overseas. In the last two years, U.S. manufacturers have added jobs, but far more needs to be done, he said.
“I do not want America to be a nation that’s primarily known for financial speculation and outsourcing and racking up debt buying stuff from other nations,” Mr. Obama said. “I want us to be known for making and selling products all over the world stamped with three proud words: ‘Made in America.’ And we can make that happen.”
In the next few weeks, the president said he plans to unveil new tax proposals that reward companies that choose to bring jobs home and invest in the U.S. — and eliminate tax breaks for companies that have moved jobs overseas.
Improving labor conditions in the United States and increasing costs in places such as China are giving companies economic incentives, but businesses also have a moral obligation to invest in America, Mr. Obama said.
“That’s part of the responsibility that comes with being a leader in America — a responsibility not just to the shareholders or the stakeholders, but to this country that made all this incredible wealth and opportunity possible,” he said.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
Susan Crabtree is an award-winning investigative reporter with more than 15 years of reporting experience in Washington, D.C. Her reporting about bribery, corruption and conflict-of-interest issues on Capitol Hill has led to several FBI and ethics investigations, as well as consequences for members within their caucuses and at the ballot box. Susan can be reached at firstname.lastname@example.org.
- GOP senators want IG probe of Sebelius' 'Obamacare' fundraising
- Teaming up with Christie, Obama says Jersey shore 'back in business'
- No Moore: Obama flubs name of Oklahoma city devastated by tornado, calls it 'Monroe'
- Obama to Okla. tornado victims: 'We have got your back'
- Aide involved in Benghazi talking points scrubbing promoted by Obama
Latest Blog Entries
TWT Video Picks
By Robert N. Tracci
Congress must use its appropriations power to secure the border
- Violent gang MS-13 taking advantage of immigration crisis, using border as recruiting hub
- Pentagon's self-guided bullets leave enemies nowhere to hide
- A 'new Cold War': China's top paper warns of 'slippery slope' towards conflict with U.S.
- Michelle Obama to Latinos: 'We cannot afford to wait on Congress' for immigration
- PRUDEN: 'Dirty Harry' Reids increasing eccentricity
- Obama calls GOP lawsuit over executive overreach a 'political stunt'
- New York City creates ID card so 500K illegal immigrants can get services
- Hamas orders civilians to die in Israeli airstrikes
- Florida police spokesman tells citizens: 'Get yourself some firearms'
- Amid border crisis, Obama to take 15-day vacation in Martha's Vineyard
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world
Fighting in Iraq
World Cup's sexiest WAGs