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Both men were economical with the truth - that America's
over-indulgent lifestyle and expectations, combined with
pressure on corporate bottomlines in which much of US is
invested and the 24/7 work cycle (and not just cost
arbitrage) among other factor has forced migration of jobs.
Only once, towards the end, did Obama say that the "low-wage,
low-skill jobs" are not coming back and America has to
retrain its workers for better things.
It was one of the many testy moments of the night during
which both men showed ill-disguised contempt for each other's
political and economic philosophy. Obama went on the
offensive from the start, painting Romney as a plutocrat
whose policies only favored the rich. At one point, after
Obama had bashed Romney's investment in companies that
outsourced to China, the Republican came back to huffily
clarify that his investments over the last eight years have
been managed by a blind trust and asked the Obama if he had
looked at his own pension plans.
"I don't look at my pension. It's not as big as yours, so it
— it doesn't take as long," Obama gibed at the Republican.
Mr Romney: Well, let me — let me give you — (laughter) —
let me — let me give you some advice.
President Obama: I don't check it that often. (Chuckles.)
Mr Romney: Let me give you some advice. Look at your pension.
President Obama: (Chuckles.) OK.
Mr Romney: You also (have) investments in Chinese companies.
President Obama: Yeah.
