Obama again criticizes Romney's work with Bain

Posted: May 22, 2012

CHICAGO - President Obama sought Monday to undermine Mitt Romney's key rationale for his presidential candidacy, sharply attacking his Republican challenger's background as a venture capitalist and arguing that profit-making alone is not a qualification for the White House.

"His main calling card for why he thinks he should be president," Obama said, "is his business experience."

It was Obama's most expansive argument yet against Romney, and the president delivered it from a world stage in his hometown.

On the sidelines of a NATO summit, the Democratic incumbent attempted to dismantle his Republican rival's business pedigree while declaring it an insufficient rationale to lead the nation. In so doing, Obama left no doubt that Romney's business background as founder of Bain Capital, perceived by many as a political strength during a weak economy, would be a recurrent target of his campaign.

Romney responded swiftly, saying Obama was attacking the free-enterprise system. He made it clear that the issue would remain a point of contention for the remainder of the race.

Obama made the comments in response to a question about Newark, N.J., Mayor Cory Booker's weekend criticism of the Obama campaign's attack on Romney's private-equity background. Booker, an Obama supporter, called exchanges by the campaigns over Bain "nauseating" and a distraction from issues that interest voters.

"This is not a distraction," Obama said pointedly at a news conference filled with international media that marked the end of the NATO gathering. "This is what this campaign is going to be about."

Obama argued that the priority of private-equity enterprises such as Bain's is "to maximize profits."

"And that's not always going to be good for communities or businesses or workers," he said.

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