Sunday May 19, 2013
Ryan's Family Business Was Built Largely With Government ContractsJeni Wylie Special to Salem-News.com
Ryan joined in attacks on President Obama for believing that those whose businesses are successful, in part succeed because “somebody invested in roads and bridges.”
(WASHINGTON DC) - Mitt Romney's VP pick Paul Ryan’s family business was built in large part on government contracts Salon reports Ryan Incorporated Central began in 1884 doing government-subsidized railroad construction, then moved into building federal interstate highways, and helped build O’Hare Airport. The story notes:
A current search of Defense Department contracts suggests that “Ryan Incorporated Central” has had at least 22 defense contracts with the federal government since 1996, including one from 1996 worth $5.6 million. … Ryan secured millions in earmarks for his home state of Wisconsin, including, among other things, $3.3 million for highway projects. And Ryan voted to preserve $40 billion in special subsidies for big oil, an industry in which, it so happens, Ryan and his wife hold ownership stakes.
Yet in his first speech as Romney’s running-mate, Ryan joined in on the attacks on President Obama for believing that those whose businesses are successful, in part succeed because “somebody invested in roads and bridges.”
Last month, ABC News released a Romney campaign ad hitting President Obama for arguing that government investment plays a part in business success. This Romney ad starred a small businessman saying “I built this.” However, this businessman benefited from millions of dollars of government loans and contracts, a boost that helped his business take off.
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