Listening to President Obama speak to the Congressional Black Caucus about his past 32 months in office, two bizarre facts become apparent. First, Obama seems to believe that his policies and efforts have been successful. Second, Obama thinks we need to continue down the same path, that he "stood up for a different vision and did what was right. The future rewards those who press on."
Sadly, it would seem that our President is not merely wrong, but delusional. Let’s take a look at what Obama’s policies have actually produced.
Largest wealth destruction in American history: Net Wealth Lost 2009-2011 --$8.7 Trillion
Highest sustained Unemployment in decades: 9.1%
Brutal Unemployment for minorities: Black Americans : 16.7%
Unprecedented Unemployment: Black Teenage Americans :46.5%
Historic loss in American credit: U.S. Credit Rating drops to: AA-plus
Historic jump in Number of people in U.S. on Foodstamps : 45.8 Million
Quixotic investment in mythic Green Jobs : $80 billion
· Supposed Number of Green Jobs Created : 255,000
· Approximate Cost of each Green Job: $313,725.50
Stimulus Program: TARP : $475 Billion
Stimulus Program: Shovel Ready projects : $787 Billion
Stimulus Programs: Cash for Clunkers : $3 billion
Stimulus Programs: Cash for Caulkers : $10 Billion
Changes in Unemployment after $1.5 Trillion of government stimulus: +3% change
Cost of New Regulations : + $1.75 Trillion annually
Public Debt : $18.8 Trillion
2012 Federal Budget Proposed by Obama : $3.73 Trillion
Number of Obama proposals to limit entitlement spending: ZERO
By any measure, President Obama’s economic policies and leadership have produced an unambiguous tale of woe. Not once has a single Obama policy produced the anticipated or promised benefits. Moreover, these many policies have made existing problems much worse.
During Obama's presidency, Americans have lost a collective $8 trillion in national wealth. Even now, his policies continue to crush business development, rob the prudent of their savings, and continue the awful trend of blaming others for his own inexperience and his policy mistakes. Perhaps the saddest fact of all is that President Obama believes that these failures represent success.