An Obamanomics roundup, as a prelude to Obama’s State of the Union Address tonight when Obama will be unveiling his economy “built to last” blueprint (hardy-har-har).
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October 2011:
George Stephanopoulos, ABC News: “And a lot of anger out there. There’s so many people who simply don’t think they’re better off than they were four years ago. How do you convince them that they are?
Obama: “Well, I don’t think they’re better off than they were four years ago.
February 2, 2009:
Obama: One nice thing about the situation I find myself in is that I will be held accountable. I’ve got four years.
Lauer: You’re going to know quickly how people feel about what’s happened.
Obama: That’s exactly right. And a year from now I think people are going to see that we’re starting to make some progress, but there’s still going to be some pain out there.
If I don’t have this done in three years, then there’s going to be a one-term proposition.
Obama’s Press Secretary Jay Carney ‘ Obama responsible for the economy since day one.’
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In his first speech to a joint session of Congress in 2009, President Obama promised to “cut the deficit in half” by the end of his first term.
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As the Associated Press said at that time: “In calling for a deficit of about $530 billion in four years, [President] Obama has established a marker by which to measure his first-term performance as president. The dollar figure could be his albatross or his badge of success.” Three years and three trillion-dollar deficits later, it’s clear that President Obama will not be brandishing any badges at this year’s State of the Union Address. Here’s more on President Obama’s broken promise to rein in the deficit:
- The President’s Budget, Released Last Year, Projected a Deficit of $1.1 Trillion for 2012. (Office of Management and Budget, Accessed 1/22/12)
- President Obama and Washington Democrats Have Run the Three Largest Deficits in U.S. History:
FY2009 Deficit: $1.413 Trillion, the Highest in U.S. History. (Congressional Budget Office, 11/7/11)
FY2011 Deficit: $1.299 Trillion, the Second Highest in U.S. History. (Congressional Budget Office, 11/7/11)
FY2010 Deficit: $1.294 Trillion, the Third Highest in U.S. History. (Congressional Budget Office, 11/7/11)
- President Obama Has Added More Than $4.6 Trillion to the Debt Since Taking Office. (U.S. Treasury Department, Accessed 1/22/12)
- The Nation’s Debt Has Now Eclipsed the Size of the Entire U.S. Economy. (Bureau of Economic Analysis, 12/22/11; U.S. Treasury Department, Accessed 1/22/12)
Far from fulfilling his promise to the American people, President Obama – aided by Democrats in Congress – has engaged in a reckless spending spree that is damaging the economy and making it harder to create private-sector jobs. Instead of putting forth a serious, credible plan to cut spending and address the major drivers of our debt, President Obama punted – offering a budget last year that failed by a vote of 97-0 in the Senate.
And as I noted here: ‘Obama Flashback Video: Bush Presided Over An “Orgy” Of Spending’, as of today Obama will have been budget free for a total of ONE THOUSAND days.
Americans are paying attention:
Gallup: U.S. Economy Most Toxic of 24 Issues (January 23, 2012)
Americans’ satisfaction with the state of the nation’s economy has dropped by 23 percentage points since January 2008 to 13%, according to a Jan. 5-8 Gallup poll. These figures represent both the lowest rate of satisfaction and the biggest decline seen for any of 24 issues measured in the survey.
Obama is an OTP. He said it not me…
If you are not better off than you were four years ago, vote accordingly in November 2012.
Also see:
