Romney: “The plant here had been open 100 years. It survived the Great Depression. It couldn’t survive the Obama economy.”
How exactly did Obama's policies cause the plant to close, one might ask. Romney doesn't say.
What exactly would Romney have done had he been president that would have allowed the plant to stay open? Romney doesn't say.
It turns out that this particular plant had been struggling financially for years. According to an article in Slate, the new owner of the plant who took over back in 2005, defaulted on some loans and now is embroiled in a lawsuit with another company that took over the plant in 2008. The last gasp of hope for this plant was the Obama stimulus program, which the owners hoped would allow an opportunity for the plant to profit from construction projects. Unfortunately, the stimulus construction spending was too small to provide any relief for this particular plant. What this means is that if Obama's policies caused the plant to fail, it was because the stimulus spending was not ambitious enough, not that the stimulus itself was a bad idea. (See some other good coverage in the Lehigh Valley Independent blog.)
But remember Romney, and all of the other Republican candidates, have been going around saying that the whole stimulus was a failure. The stimulus was opposed by practically every Republican in Congress. Since Mitt Romney never explains how the president's economic policies caused the Allentown factory to close, we have to go with the only explanation out there, which is that the closure was caused by Republican failure to agree to as large a stimulus program as the Democrats wanted. And if that isn't the explanation Mitt, then the only other thing you can possibly be saying is that every time a business fails, it must be the government's fault. Surely that can't be the message that Republicans who believe in the power and responsibility of private enterprise, want to project.