obama and Michelle have hundreds of thousands of dollars in a mutual fund that has large holdings in corporations that outsource jobs.

In his most recent financial disclosure from 2011, Obama and his wife reported having between $200,000 and $450,000 in the Vanguard 500 Index Fund, which invests in the largest U.S. corporations. According to the Securities and Exchange Commission the fund’s biggest holding was shares of Apple Inc.

Almost all of the 70 million iPhones, 30 million iPads and 59 million other products Apple sold last year were manufactured overseas….

The mutual fund that the Obamas have invested in also held shares of General Electric. In 1989, “G.E. became the first U.S. company to outsource software work to India.” Obama also has close ties to GE’s CEO, Jeffrey Immelt, who was appointed as chairman of his outside panel of economic advisers last year.

In addition to Apple and GE, the Obamas’ fund listed shares with International Business Machines, this technology giant has been steadily building its work force in India and other locations while reducing the number of workers based in the U.S.


“(Romney) invested in companies that have been called ‘pioneers’ of outsourcing,” Obama said at a Saturday campaign event in Glen Allen, Va. “I don’t want a pioneer in outsourcing. I want some insourcing.”