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July 15th, 2012
03:19 PM ET

SOTU Crib Sheet for July 15th


When did Mitt Romney leave Bain Capital and why does it matter? Candy spoke to Romney Senior Campaign Adviser Ed Gillespie and Obama Senior Campaign Adviser David Axelrod about the controversy.

Gillespie told Candy that the whole issue is just a distraction from the real issues in the campaign and that “Governor Romney took a leave of absence from his company to go save the Olympics… he ended up not going back at all and retired retroactively to February of 1999 as a result.”

Axelrod defended the campaign’s attack on Romney’s Bain tenure and tax returns, but said "I'm not suggesting that based on what we know that he's done anything illegal. I'm not suggesting that, but what I am suggesting is that he's taken advantage of every single conceivable tax shelter and loophole that we can see.”

July 15th, 2012
02:27 PM ET

Gillespie: Romney retroactively retired from Bain Capital

(CNN) – Mitt Romney senior adviser Ed Gillespie said Sunday on CNN’s "State of the Union" the GOP candidate “retroactively” retired from Bain Capital after the 2002 Salt Lake City Olympics began.

"You know, there may have been thought at the time that he could be part time," Gillespie told CNN Chief Political Correspondent Candy Crowley. "It was not part time. The Olympics was in a shambles. There was corruption. There was – the International Olympic Committee was going to pull the Olympics from the United States of America which would have been a huge embarrassment. Because of Mitt Romney's leadership skills he was called on to do it."

Gillespie continued, "He took a leave of absence and, in fact, Candy, he ended up not going back at all and retired retroactively to February of 1999 as a result."

Filed under: Ed Gillespie • Newsmakers • State of the Union
July 15th, 2012
01:45 PM ET

Is Obama running a negative campaign?

David Axelrod responds to a report that says 60 percent of Obama's campaign ads are negative.

Filed under: David Axelrod
July 15th, 2012
10:25 AM ET

How will the drought impact the economy?

U.S. Department of Agriculture Secretary Tom Vilsack weighs in on how the extreme weather will impact the economy.

Filed under: Tom Vilsack
July 15th, 2012
10:21 AM ET

Why are some states worried about Medicaid expansion?

Gov. Bob McDonnell, and Gov. Deval Patrick, discuss the Supreme Court's decision that allows states to opt out of Medicaid.

Filed under: Bob McDonnell • Deval Patrick
July 15th, 2012
10:20 AM ET

Governors, peering over 'fiscal cliff,' place blame differently

(CNN) – Two high-profile governors had vastly different assessments Sunday of who was to blame for the massive cuts to defense spending that are slated to go into effect at the beginning of next year.

The so-called "fiscal cliff," which would force the Pentagon to cut $500 billion from its budgets over the next decade, came about after congressional negotiators failed to agree on a deficit-reduction plan last fall. Virginia Gov. Bob McDonnell, a Republican, blamed the potential cuts on the White House, while Gov. Deval Patrick, Democrat of Massachusetts, said Republicans in Congress were to blame.


Filed under: 2012 • Bob McDonnell • Deval Patrick • Economy
July 15th, 2012
09:50 AM ET

Is Mitt Romney a felon?

David Axelrod said on Sunday he is giving Mitt Romney the benefit of the doubt on whether any criminal actions took place with the SEC.

Filed under: David Axelrod • Newsmakers • State of the Union
July 15th, 2012
09:49 AM ET

Axelrod on the battle over Bain

On Sunday Senior Obama Campaign Adviser David Axelrod continued to push back against Mitt Romney's record while at Bain Capital.

(CNN) – Mitt Romney's accounts in offshore tax havens would have repercussions in essential governing decisions if he's elected president, a top adviser to President Barack Obama claimed Sunday.

David Axelrod said on CNN's "State of the Union" that Romney's accounts in places like Switzerland, the Cayman Islands and Bermuda would cloud his decision-making on reforming the tax code, and that the current president had avoided such conflicts of interest in his own investing choices.

Axelrod: Obama could have Swiss bank account if he wanted

Filed under: 2012 • Bain Capital • David Axelrod • Mitt Romney • Newsmakers • State of the Union
July 15th, 2012
09:47 AM ET

Gillespie: Romney is narrowing down the VP list

Ed Gillespie, senior adviser to Mitt Romney, says the former Governor is narrowing down his choices for a Vice Presidential pick.

Filed under: Ed Gillespie
July 15th, 2012
09:45 AM ET

Is Mitt Romney losing the "message" battle?

Ed Gillespie, senior adviser to Mitt Romney, defended Romney's record at Bain Capital and said the former governor left the firm in 1999.

Filed under: Ed Gillespie