1) Incredibly weak recovery: President Barack Obama's tax/spend/regulation policy -- "stimulus"; continuation of TARP; bank, insurance company and auto industry bailouts; "quantitative easing" (aka the printing of money); cash for clunkers; minimum wage hikes; new regulatory rules on businesses; tripling of the deficit; addition of $4 trillion to the debt -- failed miserably to produce jobs and grow the economy at the historical rate expected after a deep recession.
2) ObamaCare: President Barack Obama promised it would "bend the cost curve" and that "if you like your doctor, you will be able to keep your doctor. If you like your health care plan, you will be able to keep your health care plan." The chief Medicare actuary said neither of those claims is true. Two-thirds of doctors believe that ObamaCare will lower the quality of health care.
3) Bogus Financial Crisis Inquiry Commission: Comprised of six Democrats and four Republicans, the commission issued a majority report (with the Republicans dissenting) that blamed Wall Street greed. "Reckless Endangerment," a new book on the financial crisis co-authored by a New York Times columnist/business and financial editor, blames the central role played by Fannie Mae and Freddie Mac, as well as government policy that pressured banks into relaxing lending standards so that the "underrepresented" could buy homes they could not afford.
One of the FCIC's commissioners and its chief investigator both work for a major law firm that is suing a number of Wall Street players. The two stand to benefit financially from the commission's Wall-Street-is-the-bad-guy conclusion. Sen. Harry Reid, D-Nev., who recommended a commissioner in question, now claims he was unaware of his tie to the law firm. The commission chairman, Democrat Phil Angelides -- who received $225,000 in campaign donations from the same law firm -- works for an offshore hedge fund that shorted mortgage-backed securities just before the crisis.
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