The New Hampshire Union Leader’s John DiStato today reports that in 1999 the business in question, Gilchrist Metal, “received $800,000 in tax-exempt revenue bonds issued by the New Hampshire Business Finance Authority ‘to set up a second manufacturing plant and purchase equipment to produce high definition television broadcasting equipment’…” In addition, in 2011, Gilchrist Metal “received two U.S. Navy sub-contracts totaling about $83,000 and a smaller, $5,600 Coast Guard contract in 2008…” – Jake Tapper, ABC News
WHILE SWIFTBOATING OBAMA and twisting words that Mitt Romney said himself during the Opening Ceremonies of the 2002 Olympic Games, his campaign ad star drones on and on in tones of outrage. How dare Pres. Obama say he didn’t build his company!
“My father’s hands didn’t build this company? My hands didn’t build this company? My son’s hands aren’t building this company?”
It hardly matters that isn’t what Pres. Obama said.
No one is saying people don’t deserve credit for the businesses they create. But you’ve got to ask the important question: What would Gilchrist Metal be without the tax-exempt revenue bonds issued by the New Hampshire Business Finance Authority, and the two U.S. Navy sub-contracts?
Oh, and let’s not forget the U.S. Small Business Administration loan in the 1980s, either, that was “somewhere south of” $500,000, and, Tapper reports, “matching funds from the federally-funded New England Trade Adjustment Assistance Center.”
Who can blame Jack Gilchrist? I mean, really, why not, right? After all…
“I’m not going to turn a blind eye because the money came from the government,” Gilchrest said. “As far as I’m concerned, I’m getting some of my tax money back. I’m not stupid, I’m not going to say ‘no.’ Shame on me if I didn’t use what’s available.”