ONCE AGAIN! US goes full blast against outsourcing

US President Barack Obama and Vice President Joe Biden on Wednesday went full blast against Republican presidential nominee Mitt Romney, accusing him of outsourcing American jobs to countries like India and China.

"There was an article the other day in The Washington Post about how Romney's former firm -- you know, this is what gave him all this amazing success -- was a pioneer in offshoring jobs to China and India," Obama said at an election rally in Atlanta, Georgia.

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The city, incidentally is the headquarters of the soft-drink giant Coca Cola, which a day earlier has announced massive investment in India.

"When they were asked about it, some of his advisers explained. . . there's a difference between offshoring and outsourcing. I'm not kidding. That's what they said. Those workers who lost their jobs, they didn't understand the difference," Obama said.

Biden alleged that Massachusetts Governor Romney signed a $160,000 a month contract that paid people abroad to help poor people in Massachusetts get food stamps.

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"So give Mitt Romney credit: He is a job creator. In Singapore. And China. And India," Biden said during an election campaign remarks in Waterloo, Iowa.

"And when the Massachusetts legislature passed a bill saying you couldn't outsource state contracts overseas. . . he vetoed it," he said.

Meanwhile, Romney too launched counter attack by alleging that the Obama administration has failed to create jobs in the country.

"This president is out of ideas, and he's out of excuses, and in November we're going to vote him out of office," he said during an election rally in Virginia.

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Romney alleged that the Obama Administration has not had any new agreements to open up markets for American goods.

"I will go to work to open up markets and make sure we trade with them on a fair and free basis. And by the way, when they cheat as China has cheated, stealing intellectual property, our patents, our designs, our know-how, our brand names, I will crack down on them.

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"The president has said he would.

"He didn't. I will. We'll get good jobs by trading around the world fairly," he said amidst applause.

"One thing that frightens people who are thinking of investing here with capital and building new businesses and startups of all kinds is they wonder whether the dollar is going to be worth anything down the road because of all these deficits we're running up, trillion-dollar deficits every year," he said.