Where Does Mitt Romney’s Bain Jobs Figure Come From?

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You can almost set your clock to it at this point. If Mitt Romney gets a question about his record at Bain Capital at a GOP presidential debate, he’ll inevitably talk about how many jobs he created as chief executive of the venutre capital firm. At last Saturday’s debate in New Hampshire, he suggested he had created 100,000 jobs at Bain, and when pressed for evidence, said he had done the math himself. At Monday night’s debate in South Carolina, Romney upped the ante, telling Fox News’ Bret Baier that he had created more than 120,000 jobs. Apparently it’d been a pretty good week.

But for all his talk, Romney has still failed to produce any credibile answer for how he arrived at any of the various jobs figures he’s tossed out. As I explained last week, the best answer we’ve seen is that his top aide, Eric Fehrnstrom, added up the jobs growth of a few of Bain’s most successful spinoffs (Sports Authority, Staples, etc.), and that was it. No consideration of the various Bain investments that lost jobs. No allowance for the fact that Romney is effectively taking credit for every job Staples has ever created—dare I say he invented office supplies?—even though Bain provided just 10 percent of the seed money for the company. No calculation, in other words; just an arbitrary number. It’s no surprise it fluctuates so much.

Romney wasn’t pressed on the source for his newest figure by the Fox panel, but don’t expect him to get off so easy. President Obama’s re-election team has already set its sights on the 100,000 figure. On Monday, they took to Tumblr—yes, they’re on Tumblr—to taunt Romney’s inconsistencies in chart form (click to enlarge):

Via Barack Obama/TumblrVia Barack Obama/Tumblr

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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