OBAMA’S FIVE MAJOR FAILURES
- THE STIMULUS—–Obama’s $825 Billion Stimulus FAILED to keep Unemployment below 8%, as promised. Instead, since the Stimulus passed, the unemployment rate has increased from 8.2% to 8.5% and until recently has remained above 8% and peaked at 10.1% in October 2009.
The Promise—Obama’s advisors predicted that The Stimulus would create over 3.5 Million jobs and raise the Payroll Employment to over 137.5 Million by the 4th Quarter of 2010. (Christine Romer and Jared Bernstein, “The Job Impact of The American Recovery and Reinvestment Act Plan, “1/9/09.
The Failure—Since Obama’s $825 Billion Stimulus passed, Our Nation has lost 1.1 Million jobs.
(Bureau of Labor Statistics, accessed, 1/6/12).
The Washington Post’s Fact Checker: “Obama is On Track to have the WORST RECORD of ANY PRESIDENT in The Modern Era.” (The Washington Post Fact Checker, 8/22/11)
- OBAMACARE—–On “60 Minutes”, Obama called his Health care package one of his major accomplishments. Obama said, “Not only saving this country from s great depression, not only saving the auto industry, but putting in place a system in which we’re going to start lowering health care costs and you’re NEVER going to go bankrupt, because you get sick or somebody in your family gets sick.” (CBS “60 Minutes”, 12/11/11)
The Promise—Obama PROMISED that his plan “Would save the average family $2500 on their premiums.” (Sen. Obama’s remark– Indianapolis, IN 6/20/08.)
The Failure—Fact Check.org: Obamacare is actually making health care LESS AFFORDABLE. Last year’s health insurance premium increases cast even more doubt on another promise the president has made—that the health care law would LOWER premiums. The cost of single employee coverage GREW 8%, according a survey in The Philadelphia Inquirer, 9/27/11. AND, Americans are LOSING their coverage.
The Promise—President Obama PROMISED that “if you like your health care plan, you will be able to keep your health care plan, PERIOD.” FAILURE— “Furthermore, the law falls short of making health care “affordable and available to every single American, as promised.” The nonpartisan Congressional Budget Office projected 23 million persons will remain uninsured—some because they cannot afford insurance. (“Promises, Promises”, FactCheck.org, 1/4/12) A survey found that “60% of employers said that they offered medical benefits in 2011, a decrease from 69% in 2010.” (Jeffrey Young, “Health-benefit Costs Rise Most in 6 Years,” Bloomberg, 9/27/11)
- 3. GREEN JOBS—-“The Obama Administration has managed the nearly IMPOSSIBLE FEAT of turning energy policy into a MONEY LOSER, pouring taxpayer dollars into GREEN-ENERGY busts like SOLYNDRA.” (Editorial, “The Non-Green Job Boom, the Wall Street Journal, 11/28/11).
The Promise—Obama: And I’ll invest $150 BILLION over the next decade in affordable, renewable sources of energy—–wind power, solar power and the next generation of biofuels…an investment that will lead to new industries and 5 million new jobs that pay well and can’t be outsourced.” (Sen. Obama, Acceptance Speech remarks at the Democrat Nat’l Convention, Denver, CO, 8/28/08.”
FAILURE—-“The GREEN Economy has NOT proven to be the JOB-Creation Engine that Many Politicians Envisioned.” Rather than add jobs, the study found the green job sector actually lost 492 positions from 2003 to 2010 in the CA South Bay alone, where unemployment rate last June was 10.5%.” (“Number of Green Jobs Fails to Live Up to Promises,” The New York Times, 8/18/11) The Energy Department handed out $35.2 Billion from the Recovery Act for energy efficiency and other initiatives. The industry will not be a short-term job machine. According to Investor’s Business Daily, executives at the Johnson Controls turned $300 Million in GREEN TECHNOLOGY GRANTS into 150 JOBS—that is $2 MILLION PER JOB.”
(“Where the Jobs Aren’t,” The New York Times, 9/5/11).
“A $38.6 Billion loan guarantee program that the Obama administration promised would create or save 65,000 jobs has created just a few jobs after it began, so government records show! The Oversight Committee finds that even a charitable assessment of the Labor program puts the Cost of Each Green Job is $157,000.” (Editorial, “Green Jobs Brown Out,” The Wall Street Journal, 10/11/11)
- HOME FORECLOSURES—-Treasury Secretary Geithner: “But our programs have dramatically underperformed what we thought…..we are very disappointed and frustrated by it and we have a lot of challenges ahead……NO Kidding!!!
The Promise—Obama promised that his Housing Program would prevent 7 to 9 MILLION families from foreclosure…through this plan, 7 to 9 MLLION families can restructure or refinance their mortgages, so they can afford—avoid foreclosure. (Obama, remarks on the Home Mortgage Industry in Mesa, AZ, 2/18/09).
FAILURE—Obama has only helped 1.7 MILLION avoid foreclosure of the 9 MILLION homeowners he promised to help avoid losing their homes. Nearly three years later, Obama has spent just $2.4 BILLION of the $50 BILLION he promised. (“Obama’s Efforts to Aid Homeowners, Boost Housing Market Fall Short of Goals”, The Washington Post, 10/23/11). Everyone has a personal story or situations to add here.
- DEFICIT SPENDING—The Nation’s GDP is $15.18 TRILLION.
(Bureau of Economic Analysts, Accessed, 1/3/12).
Politico Fact: Obama is the undisputed DEBT KING of the last FIVE PRESIDENTS. One White House official told Politico, “We’ll cut it (the deficit) at least I half. Under the White House projections, this year’s inherited deficit of $1.3 TRILLION will be cut to $533 BILION by fiscal year 2013.
(Obama vows to cut Huge Deficit in Half”, Politico, 2/22/09. By the time the next election rolls around, the government will have taken on almost $7 TRILLION in DEBT under Obama. It is hard to explain away a number that BIG”. By the next election, Obama will have added $22,500 in new debt for every man, woman and child in The Nation.
The Promise—Obama: “And that’s why today I’m pledging to cut the deficit that we inherited by half by the end of my first term in office.”
FAILURE-—Even if every part of Obama’s Deficit Reduction Proposal was enacted, the deficit at the end of his first term would still be $1.33 TRILLION, over DOUBLE what he promised. The government is in a DEBT TRAP that could be fueling THE RECESSION!!!