After almost a week of defending himself from jabs hurled at him from the Obama campaign, Mitt Romney, Republican contender for the presidency, finally went on the offensive with a campaign ad highly critical of Obama’s incentive programs which were supposed to help jumpstart the weak US economy.
“Where did all the Obama stimulus money go?” the television ad inquires.
The ad, paid for by Romney’s campaign, accuses the president of helping his, "friends, donors, campaign, supporters, special interest groups," as opposed to helping the economy.
The ad is a potpourri of stories which have come to light that question the efficacy of Obama’s stimulus plan and whether payments were meted out based solely on merit or if having friends in the right places was a factor.
One report which the ad takes special interest in is the loan program of the Energy Department, which was vociferously criticized by congressional Republicans because of its support of a solar panel manufacturer called Solyndra with over $500 million in taxpayer funded loans. It turned out that Solyndra went belly-up, and was not such a great investment for the government.
Another large loan critiqued in the campaign ad was also from the Energy Department. Apparently well-connected Fisker Automotive was able to receive a loan commitment for $529 million despite the fact that they did not meet expectations for job creation or electric-car production.
The Obama administration denies that stimulus loans were distributed for political gain or for any other reason than to stimulate job growth and business growth.