Gingrich Responds to Club For Growth Criticism by Doubling Down on Shameful Anti-Investment Rhetoric

Club for Growth President Chris Chocola: “Speaker Gingrich knows better, and the fact that he would stoop to economically ignorant class warfare rhetoric to promote his own political campaign is downright Obamaesque.”

Washington, DC – In an interview today with Fox News’ Megyn Kelly, former House Speaker Newt Gingrich was asked about the Club for Growth’s comments regarding his attack on the free market: 

Megyn Kelly: The Club for Growth, a conservative group has come out, and they have criticized various candidates for various things, some of your adversaries on various issues, but they came out against you on this and called your criticism of Romney on the Bain issue “disgusting” and said Newt Gingrich should apologize for his attacks on free markets, and he should apologize to Governor Romney.

Gingrich: I didn't attack free markets. I attacked a particular style of behavior which I would think the Club for Growth would want to be very careful about not defending. If we identify capitalism with rich guys looting companies, we're going to have a very hard time protecting it. I am totally committed to capitalism, I am totally committed to Main Street, I am totally committed to people's right to start companies, I'm committed to their right to fail. But I think it has to be fair, it has to be out in the open…this is why you have this underlying anger about the financial class. Because people look over and they go, wait a second, how come I lost my mortgage, and you stayed a millionaire? How come I lost all my savings, and you stayed a millionaire? (Fox News, "America Live With Megyn Kelly", 1/10/12)

The Club for Growth PAC issued the following statement in reaction to Gingrich’s comments: 

“It is highly disturbing that Newt Gingrich would equate the success of private equity firms like Bain Capital to ‘rich guys looting companies’,” said Club for Growth President Chris Chocola.  “The fact is, private equity firms are a critical component of the free market economy, increasing economic growth, and creating prosperity. Speaker Gingrich knows better, and the fact that he would stoop to economically ignorant class warfare rhetoric to promote his own political campaign is downright Obamaesque. Speaker Gingrich should apologize to Governor Romney and to the Republican Party for his attack on a basic tenet of economic freedom.”

The Club for Growth is the nation’s leading group promoting economic freedom through legislative involvement, issue advocacy, research, and education. 

The Club’s website can be found at http://www.clubforgrowth.org/