Deficit Hawk or Debt Vulture?

When I look at birds circling in the sky, I often have a hard time differentiating hawks from vultures.

Anyway, the big election in Utah this year is an open Senate seat. Mitt Romney, the former governor of Massachusetts, appears to be a shoo-in for the position.

Some may ask: Why would a politician from Massachusetts be a shoo-in for a Utah Senate Seat?

The answer is simple: Romney is Mormon.

Since Romney is Mormon he is more Utahan than me.

Come to think of it. Romney is more Utahan than members of the Ute Tribe who are second class citizens living in the most inhospitable parts of the Utah desert.

Romney's election could have a huge impact on the future of the Republican Party. Mormons tend to vote as a block. They currently control the largest block in the GOP. Winning this seat will set up Romney as the leader of the Conservative arm of the GOP.

Since I am interested in free market health care reform, I am not a big fan of Romney.

People who followed the health care debate would remember that PPACA (ObamaCare) was modeled on the health care plan crafted by Mitt Romney for Massachusetts.

Many of Romney's friends are invested heavily in PPACA. Romney's winning a Senate seat makes free market health care reform even more difficult.

But, I want to talk about his deficit hawk campaign.

Mitt Romney made millions working for a firm called "Bain Capital." This capital firm was designed to trade on insider information from a consulting firm called "Bain & Company."

Bain Capital invested in several companies including "Toys R US," "Clear Channel," "Artisan Entertainment," "Staples" and "Sports Authority."

These companies tended to follow a pattern where they would use debt financing to expand rapidly with the hopes of dominating their market. Many of the companies stumbled under their debt load.

Since Bain held preferred debt. The collapse of the companies would play out as follows. Bain would make millions on consulting fees. Bain Capital would make billions on interest. The company would collapse and Bain would then take control of the empty shell, leaving the former owners in the cold.

From here on the ground it appears that Romney is more of a debt vulture than a debt hawk.

If my assessment is true and Bain Capital made billions by pushing debt, then Romney's campaign video is a deflection thrown out by a merchant of debt, which makes me wonder if such a person really would vote against debt that benefited his friends?