89 Percent Of Americans Describe The State Of The Nation’s Economy As Negative, With 46 Percent Describing It As “Not So Good” And 42 Percent Describing It As “Poor” (Washington Post/ABC News Poll, 1000 A , MoE 4%, 2/1-4/12)
Just 44 Percent Of Americans Approve Of The Way Obama Is Handling The Economy, Compared To 53 Percent Who Say They Disapprove. (Washington Post/ABC News Poll, 1000 A , MoE 4%, 2/1-4/12)
Just 44 Percent Of Americans Approve Of Obama’s Attempts To Create Jobs, Compared To 51 Percent Who Say They Disapprove. (Washington Post/ABC News Poll, 1000 A , MoE 4%, 2/1-4/12)
38 Percent Of Americans Say They Approve Of Obama’s Handling Of The Federal Budget Deficit, Compared To 58 Percent Who Disapprove. (Washington Post/ABC News Poll, 1000 A , MoE 4%, 2/1-4/12)
So It’s No Wonder Obama Is Struggling In Key States
VIRGINIA
Quinnipiac University Poll: 49 Percent of Virginia Voters Disapprove Of President Obama’s Job Performance, While Just 46 Say They Approve. (Quinnipiac University, 1,544 RV, MoE 2.5%, 2/1-2/6/12)
Quinnipiac University Poll: 48 Percent of Virginia Voters Do Not Believe President Obama Deserves To Be Re-Elected, Compared To 46 Who Say He Deserves Reelection. (Quinnipiac University,, 1,544 RV, MoE 2.5%, 2/1-2/6/12)
Quinnipiac University Poll: Virginia Republicans Are 43 Percent More Enthusiastic About Voting In The 2012 Presidential Election Compared To 32 Percent Of Democrats. (Quinnipiac University, 1,544 RV, MoE 42.5%, 2/1-2/6/12)
NORTH CAROLINA
Public Policy Polling: 49 Percent Of North Carolina Voters Disapprove Of President Obama’s Job Performance. (Public Policy Polling, 1052 LV, MoE 3%, 2/3-2/5/12)
The Obama Administration came out with its “Independent Review” of its failed DOE Loan Program. The review says it will “only” lose $3 billion of taxpayer money, while failing to include the $567 billion the government lost on the now bankrupt Solyndra and Beacon Power Loans.
Obama: “Some Technologies Don’t Pan Out; Some Companies Fail. But I Will Not Walk Away From The Promise Of Clean Energy.” (President Barack Obama, Remarks In The State Of The Union Address, 1/24/12)
“An Independent Review Finds The Government Could Lose About $3 Billion On Energy Department Loans For Green Energy Programs—Far Less Than The $10 Billion Congress Set Aside For The High-Risk Program.” (Matthew Daly, “Report: Energy Loans Could Cost $3B,” The Associated Press, 2/10/12)
The Review Looked At 30 Loans Or Loan Guarantees Loans Totaling $23.8 Billion, But Did Not Involve Solyndra Or Beacon Power, Who Went Bankrupt And Cost The Government $567 Million. “The review, led by former Treasury Department official Herb Allison, looked at 30 loans or loan guarantees totaling $23.8 billion that were offered to green energy companies and auto makers such as Ford and Nissan. The review did not involve Solyndra or Beacon Power, an energy storage company that also went bankrupt after receiving a federal loan. The government has lost a total of $567 million from those two loans.” (Matthew Daly, “Report: Energy Loans Could Cost $3B,” The Associated Press, 2/10/12)
The Report Recommends Several Steps The Energy Department Can Take To Improve The Loan Program. “The report recommends several steps the Energy Department can take to improve the loan program, including creation of a chief risk officer to monitor all of the agency's loans. The risk management unit should be separate from the loan program office and should report directly to senior DOE managers, the report says.” (Matthew Daly “Report: Energy Loans Could Cost $3B,” The Associated Press, 2/10/12)
Among Some Of The “Independent Consultant’s” Findings:
Given The Size And Complexity Of The Projects, The Independent Consultant Believes Many Projects Are Likely To Seek Relief At Some Point During Its Loan. “DOE should aggressively strengthen its position as lender or guarantor in cases where borrowers seek relief from requirements in the loan agreements. Given the novelty, complexity and scale of the projects and the exacting covenants in their loan structures, the Independent Consultant believes that many projects are likely to seek such relief at some point during the term of the DOE loan or loan guarantee.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 10)
What The “Independent Consultant” Really Couldn’t Do To Make This A Real Audit:
The Independent Consultant Was Unable To Obtain All The Information That May Be Required To Evaluate The Loan Recipients. [T]he Independent Consultant was unable to fully obtain, and the Report does not contain, all of the information that may be required to evaluate any of the borrowers, other project participants, loans, assets, projects or other persons referenced in the Report.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 54)
“The Independent Consultant Did Not Have Subpoena Authority Or Any Other Legal Means To Compel The Production Of Documents And Information From Government Agencies Or From Third Parties.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 55)
The “Independent Consultant” Was Not Able To Prove The DOE’s Compliance With Its Request And Had No Legal Way To Require Them To Do So. “While DOE provided substantial information and technical assistance in response to these requests, the Independent Consultant was not able to assess the extent of, or to require certification of, DOE’s compliance with these requests, and did not have access to any form of legal compulsion to require additional assistance.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 55)
The Blatantly Obvious Recommendations That Shouldn’t Have Even Been Recommended From The “Independent Consultant”:
Recommendation From Independent Consultant: "Fill Key Positions In Management With Experienced Professionals" (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 43)
The Independent Consultant Advised That The DOE Should Define The Tools It Will Use, As Well As The Financial And Policy Goals It Will Pursue In Negotiations With Borrowers In Order To Protect The Taxpayers’ Interest. “To strengthen its ability to protect the taxpayers’ interest, DOE should define the tools it will use (e.g., seeking equity interests and stronger loan covenants) as well as the financial and policy goals it will pursue in negotiating with borrowers.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 10)
The Independent Consultant Advised That The DOE Should Provide Clear Guidance In Its "Vague" Standard Of “Reasonable Prospect Of Repayment" So The “Financial Goal For Managers Is Unambiguous.” “The Title XVII program’s statutory standard of 'reasonable prospect of repayment' is vague. DOE should provide clear guidance regarding the meaning of 'reasonable prospect of repayment' so that the financial goal for managers is unambiguous.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 9)
The DOE Should Clarify Authorities And Accountabilities Of Managers By Assigning Authorities For Decision Making Only To Managers And Never To Committees Where Collective Responsibility Can Obscure Individual Accountability. “Clarify Authorities and Accountabilities of Managers DOE should assign authorities for decision-making only to individual managers and never to committees where collective responsibility can obscure individual accountability.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 44)
The DOE Should Establish And Effectively Communicate Clear Goals For Management By Developing Explicit Standards Of Performance For Managing The Portfolio. “Establish and Effectively Communicate Clear Goals for Management DOE should develop explicit objectives and standards of performance for managing the Portfolio during the construction phase of the projects and beyond.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 44)
The DOE Should Proactively Protect The Taxpayers’ Interest By Continually Looking For Ways To Strengthen Its Position As Lender Without Compromising The Success Of The Projects. “Proactively Protect the Taxpayers’ Interest DOE should continually look for ways to strengthen its position as lender or guarantor without compromising the success of a project and the incentives of sponsors and counterparties to support that project.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 45)
The DOE Should Improve Reporting To The Public By Providing Clearer, Broader Information To The Public On The Progress And Performance Of The Programs. “Improve reporting to the public DOE should provide clearer, broader information to the public on the progress and performance of the programs and the portfolio.” (“Report Of The Independent Consultant’s Review With Respect To The Department Of Energy Loan And Loan Guarantee Portfolio,” 1/31/12, p. 46)
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Cardinal-Designate Timothy Dolan: “I haven't. I hope he would understand that I'm a bit skeptical because he gave us some promises at Notre Dame. He gave us some promises in the healthcare debate to Sister Carol Keehan and Catholic Health Association. He gave me promises. I'm skeptical, I'm saying wow, I hope I can continue to work with him here.”
CBS’ Charlie Rose: “So you are saying that the President has gone back on promises he made to you?”
Dolan: “I would say – I would say, Charlie, that when I left the Oval Office where I was very grateful for his invitation to be there, I left with high hopes that nothing that his administration would do would impede the good work that he admitted and acknowledged in the Church. And I am afraid I don't have those sentiments of hope now.”
Rose: “Do your conference of bishops want you to be more aggressive and more confrontational on this because it's such an important issue for the Church?”
Dolan: “It is an important issue, Charlie. I don't know if confrontation and aggressive is the word. We bishops aren't fighters, we're pastors, we want to stand on principle. We just want to do our work as effectively as we can. So, it's not like we're welcoming this. This isn't a fight of our choosing. It was somewhat imposed on us.”
(CBS’ “This Morning,” 2/9/12)
OBAMA MADE THE DECISION TO IMPOSE CONTRACEPTION RULE FOR RELIGIOUSLY-AFFILIATED INSTITUTIONS
“In The End, It Was Mr. Obama Himself Who Made The Decision…” “The White House has been skittish from the start about the new rule, which was announced last month only after internal debates at the White House that, to some extent, pitted women — Health and Human Services Secretary Kathleen Sebelius, who is Catholic; Valerie Jarrett, a senior adviser to the president, and Nancy-Ann DeParle, the deputy chief of staff, on one side, arguing forcefully in favor of the rule, administration officials said. On the other side, cautioning that the administration tread carefully and look for ways to minimize another major break with the church, they said, were several Catholic men who are close advisers to Mr. Obama: Vice President Joseph R. Biden Jr. and William M. Daley, the chief of staff at the time. Also weighing in, administration officials said, was Denis R. McDonough, the deputy national security adviser, whose purview does not naturally extend to health issues, but who is a Catholic. ‘I can’t tell you how many times we went over this,’ one administration official said, speaking on grounds of anonymity. In the end, it was Mr. Obama himself who made the decision, aides say, calculating that at the end of the day, the issue of public health access outweighed the concerns of the religious institutions.” (Helene Cooper And Katharine Q. Seelye, “Obama Tries To Ease Ire On Contraception Rule,” The New York Times, 2/7/12)
Obama Is Playing Both Sides Of The Contraceptive Debate. “The Obama administration is trying to play both sides in the debate over its controversial decision last month to force religious employers to cover contraception in employee health insurance plans, according to reports.” (“White House Tries To Play Both Sides Over Contraception Requirement,” National Journal, 2/8/12)
OBAMA IS NOT REACHING OUT TO THE RELIGIOUS COMMUNITY
Obama White House Can’t Produce List Of Religious Leaders Who Support Obama’s Decision. NBC’s KRISTEN WELKER: “Thanks, Jay. In the past, the administration has put forth names of officials who supported your policy decisions. For example, during the American Jobs Act, when the President first rolled that out, we heard from a number of mayors. Why not release names of religious leaders who support the HHS decision?” WHITE HOUSE PRESS SECRETARY JAY CARNEY: “Well, I’m not sure I -- anybody who supports the decision to -- and the general approach to providing important health care services to women across the country is certainly welcome to express that opinion. This is not -- again, this is -- I think that we’re engaged in a process that seeks to find a balance between a policy that ensures that women get access to these important services and that -- no matter where they work, and also deals with the understandable concerns of some religious groups. And we’re in the process of doing that.” (Jay Carney, Remarks At White House Briefing, Washington, D.C., 2/8/12)
Obama White House Could Not Say Who Obama Has Reached Out To In Religious Community On This Issue. QUESTION: “You talked about the administration’s commitment to reaching out to religious groups and getting their views. Is the President himself going to be involved in that process? Has he done any kind of outreach on that yet?” CARNEY: “Well, I think there’s been some reporting about some of the conversations the President has had, but I don't have any scheduling or any calls or meetings to announce from here that he may have in the future.” QUESTION: “Does he want to be personally involved in that?” CARNEY: “I think the President is very aware of and engaged in this issue. But I don't have any, again, meetings to preview for you or conversations to announce.” (Jay Carney, Remarks At White House Briefing, Washington, D.C., 2/8/12)
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NOTE: Weeks Ago, EPA Regulations Led FirstEnergy To Announce It Was Shutting Down Plants In Ohio, Pennsylvania, And Maryland, Threatening 529 Jobs. “In all, FirstEnergy said it would also shut plants in Eastlake, Ashabula, and Cleveland in Ohio, as well as in Adrian, Pa., and Williamsport, Md. The plants collectively produce 2,689 megawatts of electricity and employ 529 workers.” (Brett Dunlap, “FirstEnergy To Shutter Bay Shore Coal-Fired Plant,” The Toledo Blade, 1/26/12)
Obama’s Regulations Are “The Most Expensive In The EPA’s History”:
Dayton Daily News: “With An Estimated $9.6 Billion Price Tag, The Rules Rank Among The Most Expensive In The EPA’s History.” (Steve Bennish, “EPA Rules To Force Old Coal Plants To Adapt, Close,” Dayton Daily News, 1/6/12)
Gov. Earl Ray Tomblin (D-WV): Obama EPA “Fail[ing] To Take Into Account The Real-Life Effects These Rules Have On Hard Working Americans.” "When the EPA adopts regulations they continue to fail to take into account the real-life effects these rules have on hard working Americans like those who have dedicated themselves to FirstEnergy at the West Virginia locations.” (Brett Dunlap, “FirstEnergy Closing Power Plant,” Marietta Times, 2/9/12)
]]>The Obama campaign says that Ron Klein, former Democratic congressman from Florida, turned Obama stalwart, turned lobbyist, is out as a bundler after registering as a lobbyist for Spirit Airlines in early January. “The minute he became a lobbyist, he stopped raising money for the campaign,” a senior Obama for America official tells POLITICO. “He’s no longer associated with the campaign.” … The official said Klein raised all of the cash prior to Dec. 31, 2011, meaning he never raised money as a lobbyist — and also meaning they don't have to return the estimated $200,000 to $500,000 he raked in.
This Afternoon, Klein Tells NBC That’s Not The Case And Says He Hasn’t Heard From Anyone In The Obama Campaign.
http://firstread.msnbc.msn.com/_news/2012/02/08/10353898-obama-bundler-to-de-register-as-lobbyist
When first contacted about Klein, an Obama campaign official said by email, "All of the funds he raised for the campaign were raised last year. At the moment, he became a federal lobbyist he stopped raising for the campaign." But Klein said he had not heard from anybody in the Obama campaign. And, he added, he fully expects to continue raising money for the president's re-election. "I understand the rules," he said.
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ABC News’ Jake Tapper: “The White House has no opinion about whether or not the Senate should pass a budget? The president’s going to introduce one. The Fed chair says not having one is bad for growth. But the White House has no opinion about whether – ”
White House Press Secretary Jay Carney: “I have no opinion — the White House has no opinion on Chairman Bernanke’s assessment of how the Senate ought to do its business.” (White House Press Briefing, 2/8/12)
Next Week Obama Will Release His Budget, Which Is Just A Rehash Of His Previous Failed Policies
NOW, AGAIN: Obama’s FY2013 Is Essentially The Same Framework He Proposed In September Which Included $1.5 Trillion In New Taxes. “President Barack Obama will release his budget plan next week, calling for $3 trillion in deficit reductions over 10 years, including $1.5 trillion in tax increases to fall mostly on the wealthiest Americans. If that sounds familiar, it's because the president essentially laid out his budget plan in September, following a failed bipartisan deficit-reduction deal.” (Laura Meckler, “Budget Plan Has Familiar Ring,” The Wall Street Journal, 2/7/12)
THEN: USA Today: “The Plan’s Flaws Are Troubling.” “But the plan's flaws are troubling. It pretends that enough money can be raised simply by raising taxes on the rich. It can't. There aren't enough of them. Nor does the president's plan match his promise to ‘live within our means’ and ‘pay down’ debt. Even if it were fully enacted, the nation would add $6 trillion in debt over the next 10 years.” (Editorial, “Editorial: Politics Takes Priority In Obama’s Deficit Plan,” USA Today, 9/19/11)
Even If Every Part Of Obama’s Deficit Reduction Proposal Was Enacted, The Deficit At The End Of His First Term Would Still Have Been $1.33 Trillion. (“The President’s Plan For Economic Growth And Deficit Reduction; Table S-3,” Office Of Management And Budget, 9/19/11)
Independent Budget Experts Said Obama’s Debt Plan Fell Short Of Its Advertised Savings. “President Obama projects that his new plan for reducing the federal debt will save more than $3 trillion over the next decade by raising taxes on the wealthy and slashing spending on a host of government programs, from farm subsidies to federal worker pensions. But independent budget experts said the blueprint that Obama unveiled Monday — which White House officials say would save more than $4 trillion when added to earlier budget deals this year — appears to fall short of his target.” (Lori Montgomery And Jia Lynn Yang, “Budget Analysts Say Obama Deficit Plan Is Likely To Miss Its Targets,” The Washington Post, 9/19/11)
Even Democrats Rejected Obama’s Proposals For Higher Taxes
NOW, AGAIN: Obama Plans To Repeal The Tax Cuts For Families Earning More Than $250,000 And Would Pile More Taxes On Top Of That For Those Earning Over $1 Million A Year. “On taxes, about half the $1.5 trillion in revenue comes from ending Bush-era tax cuts for families earning more than $250,000 a year. Much of the rest comes from additional tax increases on families earning over $1 million a year, by taking away popular deductions and mandating a minimum 30% effective tax rate. Mr. Obama would end certain tax breaks for corporations, including breaks for oil and gas companies, as well as benefits for those who use corporate jets.” (Laura Meckler, “Budget Plan Has Familiar Ring,” The Wall Street Journal, 2/7/12)
THEN: Senate Democrats Rejected Obama’s Tax On Incomes Over $250,000, Instead Proposing A Surtax For Incomes Over $1 Million. “And on Wednesday came clear evidence of this shift: Senate Democratic leaders scrapped Obama’s proposal to cover the cost of his jobs bill by raising taxes on income over $250,000 a year, the old Democratic standard for defining the wealthy. Instead, they are proposing a 5.6 percent surtax on annual income of more than $1 million.” (Lori Montgomery, “Democrats Shift The Definition Of ‘Rich’ In Battle Over Taxes,” The Washington Post, 10/5/11)
Moderate Democrats Offered “Tepid Enthusiasm” For Obama’s Tax Hikes. “Liberals on Monday cheered President Barack Obama’s plan to hike taxes on the wealthy to cut the deficit. But the response from Democrats on the front lines of 2012 election battles? Silence. Or, at best, tepid enthusiasm.” (Scott Wong and Jake Sherman, “Moderate Dems Duck, Cover On Hikes,” Politico, 9/19/11)
Sen. Ben Nelson (D-NE): “There’s Too Much Discussion About Raising Taxes Right Now, Not Enough Focus On Cutting Spending.” “Sen. Ben Nelson (D-Neb.), a key moderate who’s up for reelection next year, didn’t mince words: ‘There’s too much discussion about raising taxes right now, not enough focus on cutting spending.’” (Scott Wong and Jake Sherman, “Moderate Dems Duck, Cover On Hikes,” Politico, 9/19/11)
“Most Of The Measures Have Been Pitched By The Obama Administration In Some Form Or Other Since 2009, Yet None Generated Enough Support To Pass Congress — Even When Democrats Controlled Both Houses.” (David Kocieniewski, “Tax Plan For Jobs Bill Has Familiar Ring,” The New York Times, 9/13/11)
Obama’s Budget Will Be A Political Document Aimed At Reelection, Not A Plan For Solutions To The Nation’s Fiscal Challenges
NOW, AGAIN: Obama Will Not Lay Out A Plan To Control The Nation’s Entitlement Programs In The Long-Term. “However, he isn't proposing the structural changes that experts say are needed to control spending in these programs over the long term. For instance, Mr. Obama won't suggest raising the Medicare eligibility age, as he was willing to do over the summer during bipartisan budget negotiations that failed to produce a deal. He also doesn't plan to propose changes to Social Security.” (Laura Meckler, “Budget Plan Has Familiar Ring,” The Wall Street Journal, 2/7/12)
Obama’s Budget “Serves As A Political Document” Rather Than A Plan That Can Actually Pass. “None of Mr. Obama's major proposals are expected to become law before November's elections, given both partisan divides in Congress over priorities as well as election-year politics. Still, the budget proposal serves as a political document in which Mr. Obama will set out his vision for how he would manage government taxes and spending should he win a second term.” (Laura Meckler, “Budget Plan Has Familiar Ring,” The Wall Street Journal, 2/7/12)
THEN: “Suffering An Erosion Of Support From The Broad Coalition That Elected Him, Obama Has Crafted A Plan That Reads More Like A Blueprint For Shoring Up His Restless Democratic Base Than A Vehicle For Reaching Across The Aisle In Search Of Bipartisan Compromise.” (Carrie Budoff Brown and Jennifer Epstein, “Obama To Unveil $3T Deficit Plan,” Politico, 9/18/11)
The Plan Was More Of A “Populist” Approach Than “The Compromises He Advocated Earlier This Summer.” “Combined with his call this month for $450 billion in new stimulus, the proposal represents a more populist approach to confronting the nation’s economic travails than the compromises he advocated earlier this summer.” (Zachary Goldfarb, “Obama’s Debt-Reduction Plan: $3 Trillion In Savings, Half From New Tax Revenue,” The Washington Post, 9/18/11)
The Dallas Morning News: Obama “Abdicated Leadership.” “But this newspaper sees problems in his fine points, beginning with his almost total dodge on entitlement reforms. Obama identified only about $300 billion in Medicare and Medicaid savings. And not a single detail about overhauling Social Security. Washington can’t fix the $14 trillion debt problem without overhauling those programs, which are big debt drivers. The president knows all this and simply abdicated leadership.” (Editorial, “Editorial: Gang Of 38 Offers A Better Debt Approach,” The Dallas Morning News, 9/19/11)
But A Thomson Reuters Report Finds That Health Care Costs “Increased 4 Percent In The Third Quarter Of 2011.” “The cost of health care increased 4 percent in the third quarter of 2011 from the previous year, at least for people with employer-sponsored health insurance. The news come from the Thomson Reuters Healthcare Spending Index for Private Insurers, and also shows a .9 percent increase over the second quarter of 2011.” (Amy Gillentine, “Health Insurance Increased 4 Percent In Third Quarter 2011,” The Colorado Spring Business Journal, 2/6/12)
Factcheck.org: ObamaCare “Falls Short Of Making Health Care ‘Affordable And Available To Every Single American,’ As Promised.” “Furthermore, the law falls short of making health care ‘affordable and available to every single American,’ as promised. The law provides subsidies to help some Americans buy insurance, expands Medicaid and doesn’t allow insurance companies to exclude persons with preexisting conditions. But still, the director of the nonpartisan Congressional Budget Office projected 23 million persons will remain uninsured — some because they can’t afford coverage.” (D’Angelo Gore, “Promises, Promises,” Factcheck.org, 1/4/12)
Obama: “Some Technologies Don’t Pan Out; Some Companies Fail. But I Will Not Walk Away From The Promise Of Clean Energy.” (President Barack Obama, Remarks In The State Of The Union Address, 1/24/12)
Fisker, Which Received More Than A Half Billion In Loan Guarantees, Announced It Is Laying Off Staff After Failing To Meet Early Manufacturing And Efficiency Goals
Fisker Automotive Has Announced It Is Laying Off Staff To Try To Reserve Enough Capital In Order To Qualify For More Taxpayer Funds From The DOE. “In another setback for President Obama's clean energy loan programs, the recipient of more than a half-billion dollars in federal loans is laying off workers at their Delaware and California operations. Delaware’s News Journal reports that Fisker Automotive, a California-based electric car start-up company, is laying off an undisclosed number of staff to try to reserve enough capital in order to qualify for more federal help from the Department of Energy, according to a Delaware state development official.” (Byron Tau, “Clean Energy Loan Recipient Lays Off Staff,” Politico, 2/6/12)
Fisker, Backed By More Than A Half-Billion Dollars In Loan Guarantees, Missed Early Manufacturing Goals And Has Pushed Back Plans For U.S. Production And Creation Of Thousands Of Jobs. “An electric car company backed by more than a half-billion dollars in Department of Energy loan guarantees has missed early manufacturing goals and has gradually pushed back plans for U.S. production and the creation of thousands of jobs.” (Carol D. Leonnig and Joe Stephens, “Fisker, Electric Carmaker Backed By $529 Million U.S. Loan, Balks At Solyndra Comparison,” The Washington Post, 10/21/11)
Fisker, Which Received $529 Million In Federal Loan Guarantees, Manufactures Its Cars In Finland. “A $529 million federal loan guarantee to an electric car company manufacturing automobiles in Finland is drawing more unwanted attention to Energy Department loans. A report by ABC News on Thursday said Fisker, a startup electric car company, is making cars in Finland after receiving the loan because it could not find a contractor in America to actually manufacture its electric vehicles.” (Keith Laing, “Energy Defends Loans For Electric Cars,” The Hill, 10/21/11)
Here Is A List Of Other Failed Obama Investments
ELECTRIC VEHICLES
In 2008, Obama Promised As President To Put “One Million 150 Mile-Per-Gallon Plug-In Hybrid Cars On Our Roads Within Six Years.” OBAMA: “First, we'll commit ourselves to getting one million 150 mile-per-gallon plug-in hybrid cars on our roads within six years. And we'll make sure these cars are built not in Japan, not in China, but right here in the United States of America.” (Sen. Barack Obama, Remarks At A Town Hall, Youngstown, OH, 8/5/08)
A123 SYSTEMS
Obama Predicted That A123 Systems, A Michigan-Based Battery Maker That Received $380 Million, Would Create 3,000 Jobs, But It Only Has 690 Employees And Has Announced Forced Layoffs. “A123 Systems, a battery maker that received $380 million in government support, announced recently that declining orders had forced layoffs. Instead of up to 3,000 new Michigan jobs as Obama and the company had predicted, it now has 690 employees.” (Carol D. Leonnig, and Joe Stephens, “For Obama’s Green-Car Revolution, Fits And Starts,” The Washington Post, 12/7/11)
TESLA MOTORS
Obama’s Department Of Energy Loaned Tesla Motors $465 Million In June 2009. “The Obama Administration will lend Tesla Motors $465 million to build an electric sedan and the battery packs needed to propel it. It’s one of three loans totaling almost $8 billion that the Department of Energy awarded Tuesday to spur the development of fuel-efficient vehicles.” (Chuck Squatriglia, “Feds Lend Tesla $465 Million To Build Electric Car,” CNN, 6/23/09)
SOLYNDRA
Solyndra, Obama’s Poster-Child For “American Ingenuity And Dynamism,” Declared Bankruptcy. “The California-based Solyndra, which employed more than 1,000 people, declared bankruptcy earlier this month. President Obama visited the company in May of 2010, saying it was a prime example of ‘American ingenuity and dynamism.’” (Alexander Mooney, “White House Beats Back Claim It Pressured Loan To Now-Bankrupt Company.” CNN, 9/14/11)
Solyndra Was Offered The First Recovery Act Loan Guarantee, Receiving $535 Million From Taxpayers In March 2009, And Went Bankrupt In August 2011. (Solyndra, “Solyndra Offered $535 Million Loan Guarantee By The U.S. Department Of Energy,” Press Release, 3/20/09; Joe Stephens And Carol Leonnig, “House Republicans Step Up Solyndra Investigation,” The Washington Post, 9/1/11; George Avalos, “Fremont Solar Tech Firm Solyndra To Shut Down, Lay Off 1,100 Workers,” The San Jose Mercury News, 8/31/11)
In August 2011, Solyndra Announced That It Will File For Bankruptcy, “Immediately Laying Off 1,100 Employees.” “Solyndra, a Fremont solar tech manufacturer, announced Wednesday it is suspending operations and immediately laying off 1,100 employees. The company said it will also file for bankruptcy.” (George Avalos, “Fremont Solar Tech Firm Solyndra To Shut Down, Lay Off 1,100 Workers,” The San Jose Mercury News, 8/31/11)
ENER1
Ener1, An Energy Storage Company That Received A $118.5 Million Stimulus Grant, Filed For Bankruptcy. “An Indiana-based energy-storage company that received a $118.5 million stimulus grant from the Energy Department filed for bankruptcy Thursday. Ener1 is asking a federal bankruptcy court in New York to approve a plan to restructure the company’s debt and infuse $81 million in equity funding.” (Andrew Restuccia, “Obama-Backed Electric Car Battery-Maker Files For Bankruptcy,” The Hill’s E2 Wire, 1/26/12)
BEACON POWER
Beacon Power Was Awarded A $43 Million Federal Loan Guarantee In August 2010 To Build A 20-Megawatt Flywheel Energy-Storage Plant In Stephentown, NY. “In August 2010, Beacon Power was awarded a $43 million federal loan guarantee that the Tyngsboro, Mass., company used to put in place a 20-megawatt flywheel energy-storage plant in Stephentown, N.Y. The plant takes excess electric energy from the power grid and converts it into the energy of a spinning wheel, releasing it into the grid when needed. By June 30, the project had drawn down $38 million of the loan. Beacon also qualified for a $23 million grant from the DOE.” (Yuliya Chernova, “Renewable-Energy Firms Facing Financial Hurdles,” The Wall Street Journal, 10/27/11)
AMONIX
Amonix Inc., A California-Based Solar Company, Will Lay Off 200 Of Its Employees At Its North Las Vegas Solar Power Manufacturing Plant. “Just seven months after California-based solar power company Amonix Inc. opened its largest manufacturing plant, in North Las Vegas, the company’s contractor has laid off nearly two-thirds of its workforce. Flextronics Industrial, the Singapore solar panel manufacturer that partnered with Amonix to staff the new $18 million, 214,000-square-foot plant, laid off about 200 of its 300-plus employees Tuesday.” (Justin M. Bowen, “Some 200 Laid Off At North Las Vegas Amonix Solar Plant,” Las Vegas Sun, 1/26/12)
In 2010, Amonix Received A $5.9 Million Federal Stimulus Tax Credit. “Amonix received a $5.9 million investment tax credit through the American Reinvestment and Recovery Act in 2010, and another $12 million in private capital helped finance the plant.” (Justin M. Bowen, “Some 200 Laid Off At North Las Vegas Amonix Solar Plant,” Las Vegas Sun, 1/26/12)
At The Time In 2010, Obama Cited Amonix’s Example To Support His Program Of Clean Energy Investments. OBAMA: “A solar panel company -- a solar power company called Amonix received a roughly $6 million tax credit for a new facility they’re building in the Las Vegas area -– a tax credit they were able to match with roughly $12 million in private capital. That's happening right now. And that’s just one of over, that's just one of over 180 projects that received manufacturing tax credits in over 40 states. Now, here’s the -- the only problem we have is these credits were working so well, there aren’t enough tax credits to go around. Now, here’s the -- the only problem we have is these credits were working so well, there aren’t enough tax credits to go around. There are more worthy projects than there are tax credits. When we announced the program last year, it was such a success we received 500 applications requesting over $8 billion in tax credits, but we only had $2.3 billion to invest. In other words, we had almost four times as many worthy requests as we had tax credits.” (President Barack Obama, Remarks At University Of Las Vegas, Las Vegas, NV, 7/9/10)
]]>Obama Plans To Re-Release His Lackluster Joint Deficit Reduction Committee Proposal As His FY2013
NOW, AGAIN: Obama’s FY2013 Is Essentially The Same Framework He Proposed In September Which Included $1.5 Trillion In New Taxes. “President Barack Obama will release his budget plan next week, calling for $3 trillion in deficit reductions over 10 years, including $1.5 trillion in tax increases to fall mostly on the wealthiest Americans. If that sounds familiar, it's because the president essentially laid out his budget plan in September, following a failed bipartisan deficit-reduction deal.” (Laura Meckler, “Budget Plan Has Familiar Ring,” The Wall Street Journal, 2/7/12)
THEN: USA Today: “The Plan’s Flaws Are Troubling.” “But the plan's flaws are troubling. It pretends that enough money can be raised simply by raising taxes on the rich. It can't. There aren't enough of them. Nor does the president's plan match his promise to ‘live within our means’ and ‘pay down’ debt. Even if it were fully enacted, the nation would add $6 trillion in debt over the next 10 years.” (Editorial, “Editorial: Politics Takes Priority In Obama’s Deficit Plan,” USA Today, 9/19/11)
Independent Budget Experts Said Obama’s Debt Plan Fell Short Of Its Advertised Savings. “President Obama projects that his new plan for reducing the federal debt will save more than $3 trillion over the next decade by raising taxes on the wealthy and slashing spending on a host of government programs, from farm subsidies to federal worker pensions. But independent budget experts said the blueprint that Obama unveiled Monday — which White House officials say would save more than $4 trillion when added to earlier budget deals this year — appears to fall short of his target.” (Lori Montgomery And Jia Lynn Yang, “Budget Analysts Say Obama Deficit Plan Is Likely To Miss Its Targets,” The Washington Post, 9/19/11)
The Washington Post: “The Administration’s Claim To Have Come Up With $4 Trillion In Deficit Reduction Is Misleading. The More Accurate Amount Is Barely Half That …” “The administration’s claim to have come up with $4 trillion in deficit reduction is misleading. The more accurate amount is barely half that, including about $1 trillion in domestic and security spending cuts already agreed to as part of the debt ceiling deal, and $1.5 trillion in tax increases on the wealthy.” (Editorial, “In Debt Plan, Mr. Obama Goes ‘Medium’,” The Washington Post, 9/19/11)
Obama’s Plans For Higher Taxes Hit A Roadblock Among Democrats In Congress
NOW, AGAIN: Obama Plans To Repeal The Tax Cuts For Families Earning More Than $250,000 And Would Pile More Taxes On Top Of That For Those Earning Over $1 Million A Year. “On taxes, about half the $1.5 trillion in revenue comes from ending Bush-era tax cuts for families earning more than $250,000 a year. Much of the rest comes from additional tax increases on families earning over $1 million a year, by taking away popular deductions and mandating a minimum 30% effective tax rate. Mr. Obama would end certain tax breaks for corporations, including breaks for oil and gas companies, as well as benefits for those who use corporate jets.” (Laura Meckler, “Budget Plan Has Familiar Ring,” The Wall Street Journal, 2/7/12)
THEN: Senate Democrats Rejected Obama’s Tax On Incomes Over $250,000, Instead Proposing A Surtax For Incomes Over $1 Million. “And on Wednesday came clear evidence of this shift: Senate Democratic leaders scrapped Obama’s proposal to cover the cost of his jobs bill by raising taxes on income over $250,000 a year, the old Democratic standard for defining the wealthy. Instead, they are proposing a 5.6 percent surtax on annual income of more than $1 million.” (Lori Montgomery, “Democrats Shift The Definition Of ‘Rich’ In Battle Over Taxes,” The Washington Post, 10/5/11)
Sen. Chuck Schumer (D-NY) Does Not Support Obama’s Tax On Incomes Over $250,000 Because That Is “Firmly In The Middle Class” And “Not Rich.” “But the president also wanted to raise taxes on families making more than $250,000 a year by limiting income-tax deductions they can take. That didn’t sit well with rank-and-file Democrats. Schumer said families that earn $250,000 or $300,000 a year aren’t rich enough to deserve extra taxes. He described them as ‘firmly in the middle class. They are not rich, and in large parts of the country, that kind of income does not get you a big home or lots of vacations or anything else that’s associated with wealth in America,’ he said.” (S.A. Miller, “Million-Dollar Idea,” New York Post, 10/6/11)
Moderate Democrats Offered “Tepid Enthusiasm” For Obama’s Tax Hikes. “Liberals on Monday cheered President Barack Obama’s plan to hike taxes on the wealthy to cut the deficit. But the response from Democrats on the front lines of 2012 election battles? Silence. Or, at best, tepid enthusiasm.” (Scott Wong and Jake Sherman, “Moderate Dems Duck, Cover On Hikes,” Politico, 9/19/11)
“Most Of The Measures Have Been Pitched By The Obama Administration In Some Form Or Other Since 2009, Yet None Generated Enough Support To Pass Congress — Even When Democrats Controlled Both Houses.” (David Kocieniewski, “Tax Plan For Jobs Bill Has Familiar Ring,” The New York Times, 9/13/11)
Obama’s Plan Will Not Tackle The Nation’s Long-Term Fiscal Challenges, Instead It Will Serve As A Political Document For His Reelection Campaign
NOW, AGAIN: Obama Will Not Lay Out A Plan To Control The Nation’s Entitlement Programs In The Long-Term. “However, he isn't proposing the structural changes that experts say are needed to control spending in these programs over the long term. For instance, Mr. Obama won't suggest raising the Medicare eligibility age, as he was willing to do over the summer during bipartisan budget negotiations that failed to produce a deal. He also doesn't plan to propose changes to Social Security.” (Laura Meckler, “Budget Plan Has Familiar Ring,” The Wall Street Journal, 2/7/12)
THEN: “Suffering An Erosion Of Support From The Broad Coalition That Elected Him, Obama Has Crafted A Plan That Reads More Like A Blueprint For Shoring Up His Restless Democratic Base Than A Vehicle For Reaching Across The Aisle In Search Of Bipartisan Compromise.” (Carrie Budoff Brown and Jennifer Epstein, “Obama To Unveil $3T Deficit Plan,” Politico, 9/18/11)
USA Today: Obama’s Failure To Tackle Entitlement Programs Was “Irresponsible.” “That's mostly because Obama failed to take on the entitlement programs, by far the biggest drivers of future spending. Thanks to a weak economy, Baby Boomer retirees and payroll tax cuts, Social Security is already running in the red. Congressional Budget Office projections show it will add a half trillion dollars to the debt over the next decade, making Obama's refusal to tackle it now irresponsible.” (Editorial, “Editorial: Politics Takes Priority In Obama’s Deficit Plan,” USA Today, 9/19/11)
The Dallas Morning News: Obama “Abdicated Leadership.” “But this newspaper sees problems in his fine points, beginning with his almost total dodge on entitlement reforms. Obama identified only about $300 billion in Medicare and Medicaid savings. And not a single detail about overhauling Social Security. Washington can’t fix the $14 trillion debt problem without overhauling those programs, which are big debt drivers. The president knows all this and simply abdicated leadership.” (Editorial, “Editorial: Gang Of 38 Offers A Better Debt Approach,” The Dallas Morning News, 9/19/11)
]]>White House Press Secretary Jay Carney Claims The Decline In The Labor Force Is An “Economic Positive” Because It Means Young People Are “Getting More Education.” CARNEY: “Let’s look at some of the facts, which include that a large percentage of that is due to younger people getting more education, which in the end is an economic positive.” (Jay Carney, Press Briefing, Washington, D.C., 2/6/12)
The Labor Force Is Declining Because Millions Of Americans Are Discouraged By The Lack Of Opportunities In The Obama Economy
“Millions Of Americans Wake Up Each Morning Without A Job, Even Though They Desperately Want To Work. It's One Of The Depressing Legacies Of The Financial Crisis And Great Recession.” (John Ydstie, “The State Of The Long Term Unemployed,” NPR, 12/12/11)
2.8 Million Americans Are So Discouraged By the Labor Market That They Have Given Up Looking For Work. “The lowest U.S. jobless rate in three years hasn’t changed the long-term picture for millions of Americans: about 5.5 million haven’t worked for 27 weeks or more and are still looking -- making up 42.9 percent of the total unemployed pool. Another 2.8 million are too discouraged to actively look for work in recent weeks or have other reasons for not wanting to be in the labor force, according to non-seasonally adjusted data released Feb. 3 by the Labor Department.” (Vivien Lou Chen, “Labor-Force Loss Prompts Search Of U.S. Churches: Economy,” BusinessWeek, 2/6/12)
“Apparently Discouraged By Scant Openings, 412,000 Young Women Have Dropped Out Of The Labor Force Entirely In The Last Two And A Half Years, Meaning They Are Not Looking For Work.” (Catherine Rampell, “Instead Of Work, Younger Women Head To School,” The New York Times, 12/28/11)
“There Are Currently Over 3 Million ‘Missing’ Workers Who Should Be Participating In The Labor Force But Are Not Actively Seeking Work.” (“Jobs Preview 2012:The Year of the Missing Worker,” Hamilton Place Strategies, 1/2012)
There Are 6 Million “Drop-Outs” Who Have Stopped Looking For Work. “One of the unanswered mysteries about the economy today isn't just where the jobs are, but where the drop-outs are. Those ‘drop-outs’ are the 6 million would-be workers who are not counted in the labor force because they've stopped actively seeking more work, even if they're very much hoping for more work.” (Derek Thompson, “Who Are The 6 Million?” The Atlantic, 12/29/11)
White House Tries To Spin Again, Says Labor Force Decline Due To Demographic Trends
WH Press Secretary Jay Carney Claims That Workers Are Leaving The Labor Force Because Of Demographic Trends. CARNEY: “There is a fact that this increase in the number of people leaving the workforce is a trend and a fact since 2000 because of an aging population.” (Jay Carney, Press Briefing, Washington, D.C., 2/6/12)
In His 2011 Budget, Obama Proposed Cutting Pell Grants By $100 Billion
Obama’s 2011 Budget Proposed To Cut $100 Billion From Pell Grants. “For example, Obama's budget would cut $100 billion from Pell Grants and other higher-education programs through 2021, scaling back a key Obama initiative.” (Lori Montgomery, “Obama Spending Plan Criticized For Avoiding Deficit Commission's Major Proposals,” The Washington Post, 2/14/11)
And Just Last December, Obama Actually Cut Pell Grants
Obama Signed Into Law $11 Billion In Pell Grant Cuts. “Pell grants, which help low-income families send children to college, would be cut by $11 billion over the next decade in part by tightening eligibility criteria.” (Brian Faler, “House Republicans Push Toward Vote On $1 Trillion Spending Bill,” Bloomberg, 12/15/11)
Obama Campaign “Has Been Doing A Lot Of Bluffing” On Swing States The President Will Compete To Win, Including “Arguing It Has An Outside Shot At Contesting Arizona.” “President Obama's reelection team has spun multiple pathways to an electoral vote majority, but a glance at his state-by-state approval ratings throughout 2011 suggests the campaign has been doing a lot of bluffing. … The Obama campaign has been arguing it has an outside shot at contesting Arizona, but his approval rating is at 40 percent, with 52 percent disapproving.” (Josh Kraushaar, “Obama Struggling In Battleground States,” National Journal, 1/31/12)
According To ABC News, Arizona Is “Notably Absent” From Obama’s Swing State Victory Fund. “The fund raised more than $1.3 million in December, the month it was created, FEC documents show. It dispersed a small fraction of that cash – $5,500 total, in $500 increments – to Democratic Party organizations in 11 states, with much more expected in the months ahead. The targeted states include Colorado, Florida, Iowa, Michigan, North Carolina, New Hampshire, Nevada, Ohio, Pennsylvania, Virginia and Wisconsin — all won by Obama in 2008 but places aides anticipate will be hotly contested in 2012. Notably absent from the list are New Mexico and Arizona, which Obama strategists have said would be potential keys to victory in November and the focus of a robust organizing effort.” (Devin Dwyer, “Obama Swing State Fund Taps Wealthy To Aid Key States,” ABC News’ Political Punch, 2/3/12)
Rasmussen Poll: Obama Approval Just 41% In Arizona. “Only 43 percent of all Florida voters have a favorable impression of Obama, and 41 percent have an unfavorable opinion. Forty-nine percent disapprove of the president's job performance and 46 percent approve.” (Rasmussen Reports, 1,230 LV, MoE 3%, 2/1/12)
From 2010 To 2011, Obama’s Approval Rating In Arizona Fell 0.5 Percentage Points To 39.7 Percent. (Jeffrey Jones, “Obama Approval Above 50% In 10 States And D.C. In 2011,” Gallup, 1/31/12)
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Gallup: “More States Move To GOP In 2011.” (Jeffrey Jones, “More States Move To GOP In 2011,” Gallup, 2/2/12)
“Democrats Have Lost Their Solid Political Party Affiliation Advantage In 18 States Since 2008, While Republicans Have Gained A Solid Advantage In 6 States.” (Jeffrey Jones, “More States Move To GOP In 2011,” Gallup, 2/3/12)
Since 2008, 12 States Have Shifted To Either Solidly Republican Or Leaning Republican. “A total of 17 states were either solidly Republican or leaning Republican in their residents' party affiliation in 2011, up from 10 in 2010 and 5 in 2008.” (Jeffrey Jones, “More States Move To GOP In 2011,” Gallup, 2/3/12)
Gallup: “Clearly, President Obama Faces A Much Less Favorable Environment As He Seeks A Second Term In Office Than He Did When He Was Elected President.” (Jeffrey Jones, “More States Move To GOP In 2011,” Gallup, 2/3/12)
And No Matter How He Spins It, Obama’s Approval Ratings Are Solidly Depressed
“Overall, Obama Averaged 44% Job Approval In His Third Year In Office, Down From 47% In His Second Year.” (Jeffrey Jones, “Obama Approval Above 50% In 10 States And D.C. In 2011,” Gallup, 1/31/12)
National Journal: "Rocky Terrain: Obama's Electoral College Map Grows Steeper.” (Ronald Brownstein, “Rocky Terrain: Obama’s Electoral College Map Grows Steeper,” National Journal, 2/2/12)
To Win In 2012, Obama Faces The “Daunting Prospect” Of Carrying States Where His Approval Rating Stands At 43.7 Percent Or Above. “In sum then, Obama in 2010 could reach an Electoral College majority by carrying states where his approval rating stood at least at 46.6 percent, something that would be difficult but hardly impossible. To reach a majority based on the 2011 results, he'd need to carry states where his approval stood at 43.7 percent or above. That's a much more daunting prospect.” (Ronald Brownstein, “Rocky Terrain: Obama’s Electoral College Map Grows Steeper,” National Journal, 2/2/12)
USA Today’s David Jackson: “Obama Saw Higher 2011 Approval Ratings In Only Three States.” “Throughout the nation, Obama saw higher 2011 approval ratings in only three states: Wyoming, Connecticut and Maine. But there were declines of less than 1 percentage point in Massachusetts, Wisconsin, Minnesota, New Jersey, Arizona, West Virginia, Michigan and Georgia.” (David Jackson, “Obama's Approval Rating Above 50% In Only 10 States,” USA Today, 1/31/12)
ABC News’ Devin Dwyer: Despite “Spin,” Obama “Deeply Under Water In His Bid For A Second Term.” “No matter how much President Obama’s team of re-election strategists tries to spin it, voters across the country soured on Obama in 2011, compounding a decline in his job approval ratings that have him deeply under water in his bid for a second term.” (Devin Dwyer, “Obama Approval In Swing States Took Hit in 2011,” ABC News’ Political Punch, 1/31/12)
National Journal’s Josh Kraushaar: Numbers Suggest Obama “Campaign Has Been Doing A Lot Of Bluffing.” “President Obama's re-election team has spun multiple pathways to an electoral vote majority, but a glance at his state-by-state approval ratings throughout 2011 suggests the campaign has been doing a lot of bluffing.” (Josh Kraushaar, “Obama Struggling In Battleground States,” National Journal, 1/31/12)
Across The Board Democrats Are Less Enthused About 2012
Gallup: “Republicans More Likely to Be Extremely Enthusiastic About Voting Next November.” (Frank Newport, “Romney Ties Obama In Swing States; Gingrich Trails,” Gallup, 1/30/12)