Jack Gilchrist, a businessman who stars in an ad (video below) for Republican presidential candidate Mitt Romney, claims in the ad: “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?”
However, what Gilchrist failed to mention is that he built his business, Gilchrist Metal, through government-sponsored loans, putting a dent in the attack on President Obama.
The New Hampshire Union Leader recently reported Gilchrist took over $1 million in government loans since the 1980s, including $800,000 in tax-exempt bonds issued by the New Hampshire Business Finance Authority to build a new manufacturing plant and buy equipment.
Gilchrist also admitted that he took a U.S. Small Business Administration loan of “somewhere south of” $500,000 in the 1980s, and said that to this day about 10 percent of his business comes from defense-related projects.
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None of these loans are mentioned by Gilchrist, in the ad.
In spite of the controversy, the Romney campaign said it’s standing by the debunked ad. But apart from the hypocrisy the Gilchrist ad, the Romney also camp deceptively edited President Obama.
In the ad (below), Gilchrist’s obstinate response follows audio of President Obama saying in Roanoke, Virginia on July 13: “If you’ve been successful, you didn’t get there on your own. If you’ve got a business, you didn’t build that. Somebody else made that happen.”
What the president actually said is much longer (2nd video below): “If you’ve been successful, you didn’t get there on your own. I’m always struck by people who think, ‘Wow, it must be because I was just so smart.’ There are a lot of smart people out there. ‘It must be because I worked harder than everybody else.’ Lemme tell you something: there are a lot of hard working people out there."
"If you are successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that’s allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business, you didn’t build that: somebody else made that happen. The Internet did not get invented on its own.”