Props to Politico’s Ben Smith for spotting the latest misleading ad from the Democratic National Committee. The ad, called "On Their Side," uses selective editing to make it seem as though Republican National Committee Chairman Michael Steele gives "Wall Street" exclusive credit for creating jobs and building the economy. In fact, Steele was also praising "Main Street" and small businesses, but the DNC edited out those references.
The clip in the ad comes from a June 22 interview on CNBC, in which Steele explained what he would do to create more jobs. Steele is seen and heard saying: "We’re here on Wall Street. …Trust those people who built the economy in the past." But Steele actually said: "We’re here on Wall Street. We are on Main Street. Trust those people who built the economy in the past."
The ad also leaves out what Steele said before and after that truncated quote. In fact, Steele was emphasizing the job creating power of small businesses, not just Wall Street.
Here’s the relevant portion of the exchange between Steele and CNBC’s Erin Burnett and Mark Haines:
Steele: I think there’s a lot of things put on the table that this administration ignored. We talked about freeing up the capital markets and credit markets to allow small business to access that capital and credit so they can invest.
Burnett: What would you do differently? They have a different plan every week that has had bipartisan support.
Steele: First of all, don’t trust the federal government to get it done. We’re here on Wall Street. We are on Main Street. Trust those people who built the economy in the past. The federal government has never created one job that is sustainable long term. It creates government project work but not creating real work where people are.
Burnett: Good luck telling the American people to trust Wall Street …
Haines: Yeah
Burnett: … to create American jobs
Steele: I’m not saying — I’m saying trust the people who create the wealth and the economy of the country. Small business owners.