This morning on NBC’s Today Show, White House Chief of Staff Bill Daley was asked about President Obama’s comment to Matt Lauer in 2009 that he had three years to turn the economy around or he faced the prospect of becoming a one-term president. Daley implies that the president should no longer be held to his own standard because the economy turned out to be “much worse than anyone thought.” Unfortunately, as you can see below, President Obama knew exactly what he was taking on.
THEN: In 2009, Obama Said If “I Don’t Have This Done In Three Years, Then There’s Going To Be A One-Term Proposition.” OBAMA: “That's exactly right. And — and, you know, 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.” (NBC’s “The Today Show,” 2/2/09)
NOW: Bill Daley Says “No One At That Time Of That Interview Had Any Idea Of The Depth Of The Economic Crisis We Would Stumble Into.” “No one at that time of that interview [Obama in 2009] had any idea of the depth of the economic crisis we would stumble into. We had already lost 4 million jobs before he even became president of the United States. It has been much worse than anyone thought.” (NBC’s “The Today Show,” 9/8/11)
Perhaps He Forgot That, In 2008, Obama Described The Economic Crisis As One Of “Historic Proportions” And The Worst Since The Great Depression:
Obama In October 2008: “We Meet Here At A Time Of Great Uncertainty. Our Economy Is In Crisis.” (President Barack Obama, Remarks, La Crosse, WI, 10/1/08)
Obama In November 2008: “We Face The Worst Economic Crisis Since The Great Depression.” “We face the worst economic crisis since the Great Depression. 760,000 workers have lost their jobs this year. Businesses and families can't get credit. Home values are falling, and pensions are disappearing. Wages are lower than they've been in a decade, at a time when the costs of health care and college have never been higher.” (President Barack Obama, Democratic Radio Address, Washington, DC, 11/1/08)
Obama In November 2008: “We Are Facing An Economic Crisis Of Historic Proportions.” “The news this past week, including this morning's news about Citigroup, has made it even more clear that we are facing an economic crisis of historic proportions. Our financial markets are under stress. New home purchases in October were the lowest in half a century. Recently, more than half a million jobless claims were filed, the highest in eighteen years -- and if we do not act swiftly and boldly, most experts now believe that we could lose millions of jobs next year.” (President Barack Obama, Remarks Announcing Members Of The Economic Team, Chicago, IL, 11/24/08)