Video: Jay Carney tries, fails to explain the difference between Bain Capital and Obama’s “green loans” program

posted at 9:49 pm on May 29, 2012 by Allahpundit

Via Jim Treacher, 51 agonizing seconds of Carney trying to explain on the fly why Solyndra going bust is a normal win-some-lose-some result when you’re investing in new ventures whereas Bain’s investments going bust is proof that Mitt Romney’s a vampire who enjoys seeing people laid off. There are of course easy distinctions that can be made here, but unfortunately for JC they don’t favor his position. For one thing, Bain evidently did due diligence on the companies it bought instead of rushing them through so that the president of the firm could get a sweet photo op. For another thing, when one of Bain’s acquisitions failed, it wasn’t your taxpayer dollars that went down the toilet with it. Deprived of either of those arguments, here’s the best Carney can do. If any of you manages to translate it into English, leave a note in the comments.

Speaking of embarrassing White House failures — hey, what happened to Attack Watch?


Related Posts:

Breaking on Hot Air

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

Comment pages: 1 2

Funny fail!

Bmore on May 29, 2012 at 9:52 PM

Oof.
This man is worst ever. Barring Scott McPherson

the new aesthetic on May 29, 2012 at 9:53 PM

I’m sorry, I don’t speak Giberish.

Perhaps we can find Gabby Johnson to help us out.

jaydee_007 on May 29, 2012 at 9:53 PM

say what?

heh….what an blathering idiot…

cmsinaz on May 29, 2012 at 9:54 PM

Are they intentionally trying to lose ?

Bmore on May 29, 2012 at 9:54 PM

…who needs SNL?
…this is better!

KOOLAID2 on May 29, 2012 at 9:54 PM

I’m amazed Obama is ATTACKING bain capital…. doesn’t Barack of all people recognize the ability to turn a quick profit, considering his own land deals with Tony Rezko?

*rimshot*

pamplonajack on May 29, 2012 at 9:54 PM

If any of you manages to translate it into English, leave a note in the comments.

I believe that translates into “I have no clue what I’m talking about”.

Bitter Clinger on May 29, 2012 at 9:54 PM

What a buffoon.

What A moron..

Electrongod on May 29, 2012 at 9:54 PM

The LSM must have the janitors sweeping the editing room floor every other minute.

antipc on May 29, 2012 at 9:55 PM

What a putz carney is

crosshugger on May 29, 2012 at 9:55 PM

HUH

MCW on May 29, 2012 at 9:56 PM

What a buffoon.

What A moron..

Electrongod on May 29, 2012 at 9:54 PM

Or; as Buggs would say, “What a Maroon.”

jaydee_007 on May 29, 2012 at 9:56 PM

The difference, of course, is that green-tech CEOs aren’t running for President.

/s

newtopia on May 29, 2012 at 9:56 PM

Give the guy a break, he personally knows 3 Hillary Rosen’s/

JPeterman on May 29, 2012 at 9:56 PM

…I keep waiting for him to snap in front of the podium…with his hands in the air…LIVE!!!!…FROM NEW YORK!!!!…IT’S SATURDAY NIGHT LIVE!!!!

KOOLAID2 on May 29, 2012 at 9:56 PM

Obama wants to micromanage..
It’s either Obama or the pothole infested highway…

Electrongod on May 29, 2012 at 9:57 PM

what a nice way to end the night…

heh

stay cool y’all

cmsinaz on May 29, 2012 at 9:57 PM

I would pay good money to have one “journalist“, just one to stand up and say…

… “You are so full of sh%t!”

Seven Percent Solution on May 29, 2012 at 9:57 PM

Or; as Buggs would say, “What a Maroon.”

jaydee_007 on May 29, 2012 at 9:56 PM

:)

That’s what I was thinkin’

I just couldn’t get it out…:)

Electrongod on May 29, 2012 at 9:58 PM

Astoundingly pathetic.

I wonder if Opie lasts through November?

Tim_CA on May 29, 2012 at 9:58 PM

stay cool y’all

cmsinaz on May 29, 2012 at 9:57 PM

You, too…

:)

Seven Percent Solution on May 29, 2012 at 9:58 PM

Good night, cmsinaz.

Bmore on May 29, 2012 at 9:58 PM

So did he train people he laid off at Solyndra? Is that what he is trying to say the responsibility of bankrupt employers is?

txmomof6 on May 29, 2012 at 9:58 PM

Hahaha Really?

I wonder what he would have done if it was Obama’s own money.

/s

CW on May 29, 2012 at 9:58 PM

hahaha the agony written on his face is awesome. What a clown.

thirtyandseven on May 29, 2012 at 9:58 PM

What?

rubberneck on May 29, 2012 at 9:59 PM

CARNEY:

“private investors who are conservatives only invest to make money for themselves and the 1%, but the president invested money to create jobs and reduce CO2 – so if the president loses money at least it was in a noble effort.”

iow: capitalism is man against man.

communism is the opposite and socialism is good beta men against bad white republican men.

reliapundit on May 29, 2012 at 9:59 PM

stay cool y’all

cmsinaz on May 29, 2012 at 9:57 PM

You too.

JPeterman on May 29, 2012 at 9:59 PM

I’m sorry, I don’t speak Giberish.

Perhaps we can find Gabby Johnson to help us out.

jaydee_007 on May 29, 2012 at 9:53 PM

“Reverend!”
and THREAD WINNER!!

Khun Joe on May 29, 2012 at 10:00 PM

I would pay good money to have one “journalist“, just one to stand up and say…

… “You are so full of sh%t!”

Seven Percent Solution on May 29, 2012 at 9:57 PM

I’d be willing to chip in with you for that. ; )

Bmore on May 29, 2012 at 10:00 PM

The best none answer answer avoiding the question ever.

Makes me miss Bagdad Bob

EliTheBean on May 29, 2012 at 10:00 PM

What a putz carney is

crosshugger on May 29, 2012 at 9:55 PM

That’s Mister Claire Shipman to you, son.

Lanceman on May 29, 2012 at 10:00 PM

Very easy explanation: Bain uses capital from voluntary funders. It’s their money, their decision to invest it, their responsibility for any losses or gains.

Obama takes away money from people without even asking. And then invests it to maximize his political gains – which generally doesn’t match the strategy that would maximize those “investors” gains.

Personally, I’d rather have the option of deciding how to invest my savings, even if they turn out to be bad decisions.

joana on May 29, 2012 at 10:00 PM

Too bad there weren’t any journalists in the room…

Seven Percent Solution on May 29, 2012 at 10:00 PM

At 0:30 he almost says fail… It was right there, about to slip by the um, uh… editor… but he caught it. Nicely done… spin-meister liar propagandist uh… Jay

RalphyBoy on May 29, 2012 at 10:01 PM

Too bad there weren’t any journalists in the room…

Seven Percent Solution on May 29, 2012 at 10:00 PM

Heh.

Tim_CA on May 29, 2012 at 10:01 PM

If any of you manages to translate it into English, leave a note in the comments.

 
It’s Austrian and something about racists, but it seems past tense.

rogerb on May 29, 2012 at 10:02 PM

Next Tuesday June 5th we in Wisconsin will be starting the countdown to no second term for Barack Hussein Obama. Kindly pay attention to the facts and WAKE UP AMERICA. Thank You.

psychocyber on May 29, 2012 at 10:02 PM

Carney should go be a spokesperson for an NFL coach.

CW on May 29, 2012 at 10:03 PM

Carney has got to be saying to himself “man I wish I’d have taken that Roto Rooter job”.

antipc on May 29, 2012 at 10:03 PM

It is almost like Obama and the minions thought they would never be asked these sorts of questions…

DVPTexFla on May 29, 2012 at 10:03 PM

So is he saying they are training ex-Solyndra employees as that is the responsibility a president has? Also what Constitution are they reading from?

rustynca on May 29, 2012 at 10:04 PM

If any of you manages to translate it into English, leave a note in the comments.

My language interpretation software gave me the following results:
“Bullsh*t”…

hillsoftx on May 29, 2012 at 10:04 PM

Too bad there weren’t any journalists in the room…
 
Seven Percent Solution on May 29, 2012 at 10:00 PM

 
Nicely done.

rogerb on May 29, 2012 at 10:05 PM

It is almost like Obama and the minions thought they would never be asked these sorts of questions…

DVPTexFla on May 29, 2012 at 10:03 PM

And to think that this question didn’t come from either Jake Tapper or Ed Henry.

Bitter Clinger on May 29, 2012 at 10:06 PM

Carney has got to be saying to himself “man I wish I’d have taken that Roto Rooter job”.

antipc on May 29, 2012 at 10:03 PM

Carney couldn’t get a job with Joe the Plumber.

He is right at home where he is.

Electrongod on May 29, 2012 at 10:08 PM

Oh–here it is in my handy Jay Carney Obama-ese to Ralph Kramden translator program:
“Hummina hummina hummina hummina…

Dr. Carlo Lombardi on May 29, 2012 at 10:09 PM

Too bad there weren’t any journalists in the room…

Seven Percent Solution on May 29, 2012 at 10:00 PM

Nice work.

Please tell me this spokesjerk’s candidate is going down hard in five months.

Missy on May 29, 2012 at 10:10 PM

Looks like blood in the water.

Curtiss on May 29, 2012 at 10:11 PM

If any of you manages to translate it into English, leave a note in the comments.

It’s gibberish for “I have no farking idea what I am talking about.”

rcpjr on May 29, 2012 at 10:14 PM

Next Tuesday June 5th we in Wisconsin will be starting the countdown to no second term for Barack Hussein Obama. Kindly pay attention to the facts and WAKE UP AMERICA. Thank You.

psychocyber on May 29, 2012 at 10:02 PM

Thank you! Best wishes and WAKE UP AMERICA!!

Khun Joe on May 29, 2012 at 10:16 PM

He basically just said that the executive’s job is to administer the running of the economy and make sure all the aggregate economic statistics are in good order.

He must think he works for the Secretary General of the Supreme Whitehousiet.

ebrawer on May 29, 2012 at 10:18 PM

Carney couldn’t get a job with Joe the Plumber.

He is right at home where he is.

Electrongod on May 29, 2012 at 10:08 PM

Yes, we can use the laughs.

antipc on May 29, 2012 at 10:19 PM

Next Tuesday June 5th we in Wisconsin will be starting the countdown to no second term for Barack Hussein Obama. Kindly pay attention to the facts and WAKE UP AMERICA. Thank You.

psychocyber on May 29, 2012 at 10:02 PM

Thank you! Best wishes and WAKE UP AMERICA!!

Khun Joe on May 29, 2012 at 10:16 PM

DITTO!

And thank you Joe for qouting him. I missed the little word ‘no’ between to and second when I read it. So, of course, I was about to make a fool of myself responding to him until I saw your response and re-read the post in your quotes.

jaydee_007 on May 29, 2012 at 10:20 PM

You sure that isn’t the Bad Lip Reading Jay Carney?

notropis on May 29, 2012 at 10:21 PM

“I tried to think but nothing happened.”

fogw on May 29, 2012 at 10:21 PM

Most of us knew that Obama had no experience when he became President so some on-the-job training was going to be necessary. Obviously, that training has been a complete failure. After over 3 years he truly doesn’t understand what the job is he was elected to. You have to feel sorry for Carney having to come up with something.

bflat879 on May 29, 2012 at 10:21 PM

What he’s trying to say is that he has only eight months left at this job and needs to continue practicing indeciferable spin.

jack herman on May 29, 2012 at 10:22 PM

I’m sorry, I don’t speak Giberish.

Perhaps we can find Gabby Johnson to help us out.

jaydee_007 on May 29, 2012 at 9:53 PM

We could use some authentic frontier gibberish right about now. Oh, and Howard Johnson is right!

On a slightly more serious note, do you realize that Jay Carney is actually claiming here that Obama secured job training and new employment for those laid off workers? What a load of crap!

Doughboy on May 29, 2012 at 10:24 PM

I would pay good money to have one “journalist“, just one to stand up and say…

… “You are so full of sh%t!”

Seven Percent Solution on May 29, 2012 at 9:57 PM

7%

Rio Linda Refugee on May 29, 2012 at 10:24 PM

Most of us knew that Obama had no experience when he became President so some on-the-job training was going to be necessary. Obviously, that training has been a complete failure. After over 3 years he truly doesn’t understand what the job is he was elected to. You have to feel sorry for Carney having to come up with something.

bflat879 on May 29, 2012 at 10:21 PM

In order for training to be effective one has to first admit that they require additional knowledge. Since BHO knew everything, before he knew anything, he had no need what-so-ever for any kind of training. Therefore; his OTJ training has not failed, it has been REJECTED by the intended recipient.

A distinction without a difference, for sure, but an important one just the same.

jaydee_007 on May 29, 2012 at 10:25 PM

I would pay good money to have one “journalist“, just one to stand up and say…

… “You are so full ofI would pay good money to have one “journalist“, just one to stand up and say…

… “You are so full of sh%t!
.
.
.
.
Seven Percent Solution on May 29, 2012 at 9:57 PM

…me too!…but for the first time in my life…I have seen sh%t…wearing a tie and suitcoat!

KOOLAID2 on May 29, 2012 at 10:29 PM

That was Scott McLelland-esque.

westaustin on May 29, 2012 at 10:31 PM

Doughboy on May 29, 2012 at 10:24 PM

rebbidd!!

Tim_CA on May 29, 2012 at 10:31 PM

Alles klar, Herr Kommissar?

PopsRacer on May 29, 2012 at 10:35 PM

I just heard two scathing reviews of the Obama administration’s economic policy from different people a while ago on the radio. #1 was along the lines of the Obama administration are apparently economic ignoramuses and Democrats are fleeing Obama and distancing themselves from his economic rhetoric and policies. #2 was that Obama had tried to replace a housing bubble with a government bubble which is completely unsustainable and shows a fundamental lack of understanding about what drives economic growth.

The overall gist of the conversations was that the Obama administration is fundamentally completely bankrupt of competence when it comes to economics. This is pretty close to my own conclusion where they are relying on academic ideological theories which have failed everywhere they have been tried and sticking their fingers in their ears and refusing to listen to basic fundamental economics information. Basically, they (this administration) are fools.

crosspatch on May 29, 2012 at 10:35 PM

The only remotely substantive difference: One was helmed by a Republican, the other a Democrat.

gryphon202 on May 29, 2012 at 10:36 PM

…how come none of the trolls like Jay Carney?
…not their kind of carnival?

KOOLAID2 on May 29, 2012 at 10:36 PM

The difference is 0bama will use taxpayer money to clean up his mess.

pedestrian on May 29, 2012 at 10:36 PM

An absolute fool who hasn’t any inkling of the depth of his foolishness.

MisterElephant on May 29, 2012 at 10:37 PM

Carney is just one example of little Bammie’s failing presidency. When one fails as spectacularly as Bammie is failing, no one wants to work for him. In December of 2008 he could ask anyone in the country to join him and they would. Now as those stragglers left come up with polite reasons to leave, he will not be able to replace them with anyone even barely competent.

I see empty offices in the White House…

slickwillie2001 on May 29, 2012 at 10:40 PM

I see empty offices in the White House…

slickwillie2001 on May 29, 2012 at 10:40 PM

What a coincidence, I can see November from my house… It has a lot of empty offices in the whitehouse as well…

SWalker on May 29, 2012 at 10:46 PM

Carney has got to be saying to himself “man I wish I’d have taken that Roto Rooter job”.

antipc on May 29, 2012 at 10:03 PM

Carney couldn’t get a job with Joe the Plumber.

He is right at home where he is.

Electrongod on May 29, 2012 at 10:08 PM

I don’t know, he seems to have plenty of experience to qualify as a skin diver for Roto-Rooter. He always emerges from these press brifings covered with sh fertilizer.

Random Numbers (Brian Epps) on May 29, 2012 at 10:47 PM

I see empty offices in the White House…

slickwillie2001 on May 29, 2012 at 10:40 PM

What a coincidence, I can see November from my house… It has a lot of empty offices in the whitehouse as well…

SWalker on May 29, 2012 at 10:46 PM

You Realize, of course, that such an eventuality will spell a total and complete economic disaster - For Several Golf Courses in the Washington D.C. area.

jaydee_007 on May 29, 2012 at 10:49 PM

I see empty offices in the White House…

slickwillie2001 on May 29, 2012 at 10:40 PM

What a coincidence, I can see November from my house… It has a lot of empty offices in the whitehouse as well…

SWalker on May 29, 2012 at 10:46 PM

You Realize, of course, that such an eventuality will spell a total and complete economic disaster – For Several Golf Courses in the Washington D.C. area.

jaydee_007 on May 29, 2012 at 10:49 PM

Or maybe a massive economic boom for them, since those previous Whitehouse employees will have a whole lot more free time to play golf with that pesky “peoples work” gumming up their Tee times…

SWalker on May 29, 2012 at 10:55 PM

How is that different from the Romney argument (Bain Capital) that many succeeded and a few failed?

Easy question. Under Obama’s plan many didn’t succeed.

gekkobear on May 29, 2012 at 10:56 PM

How is that different from the Romney argument (Bain Capital) that many succeeded and a few failed?

Easy question. Under Obama’s plan many didn’t succeed.

gekkobear on May 29, 2012 at 10:56 PM

Umm, actually under Obama’s plan, none succeeded, only Obama’s fundraisers made money.

SWalker on May 29, 2012 at 11:00 PM

That was so bad I was almost embarrassed for him…. almost.

txag92 on May 29, 2012 at 11:04 PM

“Blah blah blah blah blah blah blah,” he explained.

Kenosha Kid on May 29, 2012 at 11:07 PM

What Carney is saying makes perfect sense to the left. It doesn’t matter if something works or not, the important thing is that they care. Thus, they can fail miserably at everything, yet still feel superior to the other side, which operates according to unfeeling market principles.

The Left would very much like to take refuge in leftist theory than confront the empirical evidence of their decisions and conservatives don’t rub their noses in it often enough. Romney should embrace what Bain has done with private funds and compare that to what Obama has done with taxpayer dollars. Obama is depending on the press to cover for him, but I don’t think they can and maintain a straight face this time.

Aardvark on May 29, 2012 at 11:07 PM

In Opie’s defense…There is no way to make a silk purse out of a pig’s ass.

Reality Checker on May 29, 2012 at 11:12 PM

Translation: BHO is in charge of unemployment insurance so you know he’s got that going for him, which is nice.

O, A bullshit artist:

http://www.youtube.com/watch?v=IF2RYhNhBdw

monttybaggs on May 29, 2012 at 11:14 PM

The Romny ads write themselves…er the donks write the ad..at least the copy for the ads.

Anyway, I sure hope to es that in late October.

jukin3 on May 29, 2012 at 11:14 PM

Like Gibbs…Carney was explicitly hired to play the buffoon and to thwart any real answers from slipping through… He deliberately acts the clown to shut down substance, deflect accountability and to generally frustrate…

CCRWM on May 29, 2012 at 11:14 PM

WTF……..did he say?

tractah on May 29, 2012 at 11:29 PM

He should have used a flannelgraph. I always understood complicated Bible stories better when my Sunday School teacher used a flannelgraph.

ExUrbanKevin on May 29, 2012 at 11:49 PM

What country are you from? What ain’t no country I’ve heard of. Do they speak English in what?

English, do you speak it?

R Square on May 30, 2012 at 12:00 AM

There IS a role for government to play in stimulating the economy, they just don’t *like* that role because government doesn’t actually *control* the direction of the growth, the market does.

Here is how you do it, and THIS is what Keynesian economics is REALLY all about:

What you do is reduce taxes but keep government spending constant. This initially reduces revenue but causes investment which eventually results in growth, then tax revenues begin to increase. So at first you go into deficit spending but then tax revenues catch up. You allow growth to continue until you have repaid the debt you incurred initially and then you gradually bring taxes back up to prevent the economy overheating and going inflationary.

The economy has a couple of “knobs” or controls the government can use. One acts as like the accelerator on a car and the other acts as a brake. Spending is gas and taxes are the brake. But what Obama has done is to maintain or increase taxes, fees, and regulatory expense while at the same time attempting to dump money into favored sectors. So he is trying to accelerate the economy without reducing pressure on the brake.

What Obama needs to do is to do something like: “no corporate income tax for 3 years and capital gains tax goes to 5%”. That would absolutely boost investment and business activity. It will take about two years for that to make its way through the system and start gaining traction. During those two years, deficits will increase but then they will start to decline as tax revenues begin to increase again. Once the budget is back to neutral, you run a surplus for a bit and by then the corporate income tax kicks back in and begins to apply the brakes to things a little. You also start increasing the capital gains tax rate, taking it from 5% to 10% and slowing increasing it to slowly apply the brakes to investment as the economy heats up.

What Obama is doing by increasing the dividend and capital gains taxes this January 1st, is going to absolutely slam the brakes on the economy. This, combined with his asking for ADDITIONAL stimulus will give a condition somewhat like pushing both the accelerator and the brake at the same time.

The only reason a person would want to do this is if it is their intention to bankrupt the government without actually boosting the economy. So you run deficit spending up so high that you can’t borrow anymore and in the meantime the economy goes straight down the toilet with the only growth being in government and in selected targeted businesses where you have directly injected cash.

If Obama wanted to create “green jobs” he could just say that companies producing renewable sources of energy were exempt from corporate income tax and those investments are free from capital gains. It would explode BUT the market would determine who the winners and losers are and Obama couldn’t pick and choose among companies run by cronies who would succeed and who would not.

crosspatch on May 30, 2012 at 12:13 AM

I’d guess that the difference is, Bain actually makes money?

tigerinexile on May 30, 2012 at 12:28 AM

Carnhole makes Robert Gibbs look Mensa

FlaMurph on May 30, 2012 at 12:31 AM

Jay Carney..the other SCOAMF!

The War Planner on May 30, 2012 at 12:35 AM

What country are you from? What ain’t no country I’ve heard of. Do they speak English in what?

English, do you speak it?

R Square on May 30, 2012 at 12:00 AM

..maybe he was speaking Austrian.

The War Planner on May 30, 2012 at 12:36 AM

It’s Austrian and something about racists, but it seems past tense.

rogerb on May 29, 2012 at 10:02 PM

..MEGA CRAP!

Sorry, Roger, I promise to actually read all of the thread before posting my comments.

The War Planner on May 30, 2012 at 12:37 AM

OK – That was painful to even TRY to follow. Maybe I need to get drunk and listen again?

TNfidel on May 30, 2012 at 12:43 AM

However, we have seen there are limits to what spending can achieve, and there is some evidence that regulations have a greater braking effect than do taxes.

The problem is the approach – Obama and the Democratic Left just assumed the economy would recover in time and they would get the credit for it. So they used the second part of TARP and all of the stimulus to reward their constituencies, while continuing to press job-killing regulation, especially environmental and “green energy” boondoggles.

Recessions aren’t without natural benefits: they squeeze the excesses out of a growing economy, pop the price bubbles, force efficiencies, and increase productivity by making resources flow to the their best use. This helps ignite the recovery and future growth.

Obama’s plan, though, was to eliminate the pain, at least for his favored constituencies, through green energy subsidies, the auto bailout which saved the UAW and several other unions, stimulus aid to states so they could put off their own fiscal reckoning, keeping their public employees on the payrolls longer, paying long unemployment, and increasing food stamps drastically.

You can’t exfoliate without taking off some skin, though. So the pain is still there to be felt, and the growth only behind it.

Adjoran on May 30, 2012 at 12:55 AM

Twenty seconds into it is too much. AllahP, just start waterboarding me for dessert.

arnold ziffel on May 30, 2012 at 1:09 AM

Comment pages: 1 2