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Obama vs. Romney: Let's talk about outsourcing

A plant explosion in March has a resin essential to brake and fuel lines in automotive running short. Industry leaders discussing options. (Photo: AP/Paul Sakuma)

President Obama has come under fire for his misleading accusations that Mitt Romney was a "pioneer in outsourcing" during his time at Bain Capital.  FactCheck.org and the Washington Post have both given Obama's criticism low marks for lack of proof, but polls in key swing states suggest the president's attack ads are paying off and swaying voters.

The GOP is now (taking my advice!) fighting back with outsourcing accusations of their own, pointing to President Barack Obama's role in transfering taxpayer-funded stimulus and jobs overseas.  A new website to be officially unveiled today by RNC chairman Reince Priebus, ObamanomicsOutsourced.com, explains:

Over his four years in office, Obama promised that he would focus on creating "jobs that pay well and can't be outsourced." However, as he racked up trillions in new debt, billions of dollars did go to create jobs that were outsourced or spent overseas. Whether it is electric cars made in Finland or solar panels in Mexico, taxpayers would be astonished to learn that their hard earned money went abroad for jobs that weren't created in the United States.

So where did the jobs go?

Electric Cars

Obama handed over billions of dollars in loan guarantees and stimulus awards pursuant to his goal of putting one-million electric vehicles on the road by 2015. Much of that money ended up leaving our shores. A $2.4 billion stimulus program to support battery production sent nearly half of its money to foreign firms, including two South Korean companies that used their awards to hire foreign nationals in Michigan to do work that Americans easily could have done. In the end, despite all the money Obama handed out, electric vehicle sales have lagged and The Washington Post deemed his goal of one million electric cars "overly optimistic."

Manufacturing Tax Credits

As Obama was doling out over $2.3 billion in clean energy manufacturing tax credits that were supposed to create jobs in America, $880 million went to foreign firms. Worse still, some of those same recipients are now closing up shop and shipping jobs overseas.

Wind Farms

Obama's stimulus included over $8.5 billion in grants for wind farms that flowed overseas, despite Congressional criticism from both sides of the aisle. In total, over half of the money went to either foreign developers or foreign wind turbine manufacturers, creating thousands of jobs overseas with money that was supposed to create jobs within the United States. Even worse, hundreds of millions of dollars went to wind farms that began construction before the stimulus was passed. The end result of all this spending: the wind energy industry lost 10,000 jobs last year.

Loan Guarantees

Remember Solyndra? The problems with Obama's loan guarantee program don't end there. The largest recipient of Obama's program to jumpstart green energy projects was the Spanish Company Abengoa, which took in $2.7 billion in loan guarantees for three of its projects. Other projects importing foreign-made solar panels are, much in the same way as Fisker Automotive, choosing to make their products overseas.

The new site has breakout information on the various companies which benefited from Obama's stimulus, including Mexico, for example:

Click here for more

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