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From TPM:

On Tuesday, the Obama team responded with an ad of its own, the strongest direct response from Obama to “you didn’t build that” so far. Though the ad represents a direct response to a Romney attack, Obama does not mention his opponent by name.

“Those ads taking my words about small business out of context — they’re flat-out wrong,” Obama says in the ad, looking straight to camera. “Of course Americans build their own businesses.”

Romney’s ‘You Didn’t Build That’ Attack Ad Stars Businessman Who Received Millions in Government Money

And, as it turns out, Jack Gilchrist is no different. The New Hampshire Union Leader reports today that Gilchrist benefited from millions of dollars of government loans and contracts to get his business on its feet:

In 1999, Gilchrist Metal received $800,000 in tax-exempt revenue bonds issued by the New Hampshire Business Finance Authority “to set up a second manufacturing plant and purchase equipment to produce high definition television broadcasting equipment,” according to a New Hampshire Union Leader report at the time…

Last year, Gilchrist Metal also received two U.S. Navy sub-contracts totaling about $83,000 and a smaller $5,600 Coast Guard contract in 2008, according to a government web site that tracks spending.

Gilchrist wisely took advantage of these funds, which help small businesses like his survive in their early years. He also took a U.S. Small Business Administration loan in the late 1980s totaling “somewhere south of” $500,000, plus matching funds from the federally-funded New England Trade Adjustment Assistance Center.

Business Man In Romney’s Attack Ad Actually Agreed 100% With Obama:

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