Obama refuses to learn from his mistakes and continues to obsessively push a spending agenda even Senate Democrats refuse to pass (budget, jobs bill, etc.) The Simpson-Bowles Debt Reduction Commission, created by Obama, concluded the nation’s debt of $14 trillion is “unsustainable” and was “driven in large part by two wars and a slew of fiscally irresponsible policies.”
Obama ignored the commission’s proposals including: simplifying the tax code, Social Security, Medicaid and Medicare reform. From Hope and Change, Change We Can Believe In to We Can’t Wait, Obama is full of catchy phrases and condemnations of millionaires, billionaires and those awful Republicans who won’t let him have his way. But what Obama is short on is successes.
Obama has been the architect of one failed, costly program after another. His scorecard as president doesn’t beckon lots of HOPE. Here’s a smattering of highlights:
• Presided over the worst Recession since the Great Depression
• Highest unemployment in decades: 9.1%; Highest black unemployment since 1984: 16.1%; black teen unemployment at 45%
• First downgrade of United States Credit Rating from AAA-AA-plus
• Rise in people on food stamps historic high of 45.8 million an increase of 34% from 2009.
• Median wealth of whites 20 times greater than blacks: average black household had $5,677 of wealth in 2009 compared to $113,149 for the average white household
• HAMP: $50 billion
• Colossal Stimulus: $787 billion, which didn’t stimulate jobs or the economy
• Cash for Clunkers: $3 billion
• Cash for Caulkers: $6 billion
• Proposed Jobs Bill: $447 billion, Senate Democrats won’t pass
• National Debt: $14 trillion; 62% of GDP and reach 185% by 2035
• Government Spending: 24% of GDP expected to 50% by 2038
• Income Taxes: Top 5% earners pay 59% of taxes
• Americans who pay n0 taxes: 51%
• New Regulations 2009-2011: 75 new regulations, 1827 rules amended; Cost of new regulations $1.75 Trillion annually
• 2012 Federal budget Proposed by Obama : $3.73 Trillion
With a record like this, it’s hard to fathom how Democrats can keep propping up Obama and his failed agenda. No wonder Americans are angry; 40% disapprove of the job Obama is doing compared to a slim 18% who approve of his performance, which is exactly why WE the PEOPLE CAN’T WAIT to vote Obama out of office in 2012.