Contribute
CONNECT:

research

Great Moments In Failed Obamanomics

- May 29, 2012

When Nevadans Faced Crushing Unemployment And A Housing Meltdown, Obama Couldn’t Help But Pile On

AT THE HEIGHT OF THE RECESSION, OBAMA LAUNCHED ATTACKS AGAINST NEVADA’S TOURISM INDUSTRY

Obama In 2009: “You Can’t Take A Trip To Las Vegas Or Down To The Super Bowl On The Taxpayers’ Dime.”  OBAMA: “You can't go take a trip to Las Vegas or go down to the Super Bowl on the taxpayers' dime.” (President Barack Obama, Remarks At A Town Hall, Elkhart, IN, 2/9/09)

One Year Later, Obama Said “This Isn’t How Responsible Families Do Their Budgets. … You Don’t Blow A Bunch Of Cash In Vegas When You’re Trying To Save For College.” OBAMA: “This isn’t how responsible families do their budgets. When times are tough, you tighten your belts. … You don’t go buying a boat when you can barely pay your mortgage. You don’t blow a bunch of cash in Vegas when you’re trying to save for college. You prioritize. You make tough choices. And it’s time your government did the same.” (President Barack Obama, Remarks At A Town Hall, Nashua, NH, 2/2/10)

Obama’s Comments Harmed Nevada’s Economy And Drew Sharp Rebukes

Karen Gordon, President Of The Destination Management Company Activity Planners In Las Vegas: “We’ve had about six major groups cancel. … Las Vegas and the entire meeting and incentive industry is being unfairly portrayed in a negative light.” (Benjamin Spillman, “Politicians, Businesspeople Respond To Obama Comment,” Las Vegas Review-Journal, 2/11/09)

Senate Majority Leader Harry Reid (D-NV): “The President Needs To Lay Off Las Vegas And Stop Making It The Poster Child For Where People Shouldn’t Be Spending Their Money.” REID: “I just spoke to the White House and told them that while the president is correct that people saving for college need to be fiscally responsible, the president needs to lay off Las Vegas and stop making it the poster child for where people shouldn’t be spending their money. … To truly reenergize our economy, we need people to travel to Las Vegas. I would much rather tourists and business travelers spend their money in Las Vegas than spend it overseas.” (“Obama Responds To Harry Reid Criticism,” Las Vegas Sun, 2/2/10)

Rep. Shelley Berkley (D-NV): “Enough Is Enough!” “Enough is enough!  President Obama needs to stop picking on Las Vegas and he needs to let Americans decide for themselves how and where to spend their hard earned vacation dollars.  This is the second time he's pointed a finger in our direction and both times he's been wrong to single out Las Vegas.” (“Complete Statements From Lawmakers On President Obama's Las Vegas Remarks,” KTNV, 6/10/11)

Then-Rep. Dina Titus (D-NV): “This Pattern Of Bashing Las Vegas To Make A Point Must Stop.” “It is unbelievable that President Obama again singled out Las Vegas for ridicule when the fact is that our city is one of the premier destinations for work or pleasure.  This pattern of bashing Las Vegas to make a point must stop. Hundreds of thousands of hard-working Las Vegas men and woman make a living in the travel and tourism sector, and the President's comment disparaging travel to Las Vegas is a blow to all of them.” (“Complete Statements From Lawmakers On President Obama's Las Vegas Remarks,” KTNV, 6/10/11)

TODAY, NEVADANS CONTINUE TO SUFFER IN THE OBAMA ECONOMY

Since Obama Took Office, Nevada Has Lost 68,200 Jobs And The Unemployment Rate Has Increased From 9.6 Percent To 11.7 Percent, The Highest In The Nation. (Bureau of Labor Statistics, Accessed 5/18/12)

  • In April, Nevada’s Unemployment Rate Dropped From 12.0 Percent To 11.7 Percent But Primarily Due To Workers Leaving The Labor Force, As The State Lost 600 Jobs And The Labor Force Shrank By 4,800 Workers. (Bureau of Labor Statistics, Accessed 5/18/12)

In The Past Year, 20,000 Las Vegans Left The Workforce, While Just 2,000 More Had Jobs. “In the past 12 months, 20,000 Las Vegans left the workforce, while just 2,000 more locals landed jobs, said Brian Gordon, a principal in research firm Applied Analysis.” (Jennifer Robison, “Nevada, Las Vegas Valley Unemployment Rates Lowest Since 2009,” Las Vegas Review-Journal, 5/18/12)

  • Workers In Their 50s And 60s Are Beginning To Retire Early, “Once They See How Tough The Job Market Is.” “[Steve] Brown [director of the Center for Business and Economic Research at the University of Nevada, Las Vegas] added that some workers in their late 50s or early 60s might retire early once they see how tough the job market is.” (Jennifer Robison, “Nevada, Las Vegas Valley Unemployment Rates Lowest Since 2009,” Las Vegas Review-Journal, 5/18/12)

In 2011, Nevada Had “The Nation’s Highest State Foreclosure Rate For The Fifth Consecutive Year.” “More than 6 percent of Nevada housing units (one in 16) had at least one foreclosure filing in 2011, giving it the nation’s highest state foreclosure rate for the fifth consecutive year.” (RealtyTrac, “2011 Year-End Foreclosure Market Report: Foreclosures On The Retreat,” Press Release, 1/12/12)

  • Since Their Peak, Home Prices Have Declined 60.1 Percent In Nevada, The Largest Decline In The Nation. “The five states with the largest peak-to-current declines including distressed transactions are Nevada (-60.1 percent), Arizona (-50.8 percent), Florida (-49.0 percent), California (-43.6 percent) and Michigan (-43.2 percent).” (CoreLogic, “CoreLogic January Home Price Index Shows Sixth Consecutive Monthly Decline,” Press Release, 3/7/12)

AND DESPITE LECTURING AMERICANS TO BE RESPONSIBLE WITH THEIR MONEY, OBAMA HAS RACKED UP MORE DEBT THAN ANY PRESIDENT IN HISTORY WITH OURS

Politifact: “Obama Is The Undisputed Debt King Of The Last Five Presidents.” “So by this measurement -- potentially a more important one -- Obama is the undisputed debt king of the last five presidents, rather than the guy who added a piddling amount to the debt, as Pelosi’s chart suggested.” (Louis Jacobson, “Nancy Pelosi Posts Questionable Chart On Debt Accumulation By Barack Obama, Predecessors,” Politifact, 5/19/11)

President Obama Has Racked Up The Three Largest Deficits In U.S. History. “The U.S budget deficit for fiscal year 2011 is $1.299 trillion, the second largest shortfall in history. The nation only ran a larger deficit for the 2009 fiscal year, which included the dramatic collapse of financial markets and a huge bailout effort by the government.” (Erik Wasson, “Treasury Announces 2011 Deficit Is Second Highest In History,” The Hill’s "On The Money", 10/14/11)

  • FY2009: The Federal Budget Deficit Was $1.413 Trillion, The Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
  • FY2011: The Federal Budget Deficit Was $1.299 Trillion, The Second Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
  • FY2010: The Federal Budget Deficit Was $1.294 Trillion, The Third Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)

“Obama's Spending Blueprint For The Budget Year That Begins Oct. 1 Projects A Deficit For This Year Of $1.33 Trillion. That Would Mean Four Straight Years Of Trillion-Dollar-Plus Deficits.” (Martin Crutsinger, “The Fight Begins: Obama’s Budget Going To Congress,” The Associated Press, 2/12/12)

As His Administration Spent Taxpayer Funds On A “Pricey” Las Vegas Conference

The General Services Administration’s 2010 Western Region Conference In Las Vegas “Made Headlines When An Inspector General Report Found A Pattern Of Excessive Spending, Waste, And Possible Fraud On The Pricey, Taxpayer-Funded Las Vegas Conference.” “The conference made headlines this week when an Inspector General report found a pattern of excessive spending, waste and possible fraud on the pricey, taxpayer-funded Las Vegas conference, where organizers went out of their way to organize a lavish, over-the-top celebration that included a mindreader, a clown, fancy food, and several ‘trial runs’ by GSA employees.” (Byron Tau, “Videos Of $800K GSA Conference Surface,” Politico, 4/7/12)

THIS IS JUST ONE EXAMPLE IN OBAMA’S ATTACKS ON FREE ENTERPRISE

Obama Sold ObamaCare With “Near-Daily Demonization Of The Insurance Industry” In An Attempt “To Play To Americans' Anxieties.” “The near-daily demonization of the insurance industry is an attempt by the White House to play to Americans' anxieties about the health-care system -- and about the prospect of changing it.” (Amy Goldstein and Scott Wilson, “Obama Launches Attack On Health Insurance,” The Washington Post, 3/9/10)

Obama Sold Dodd-Frank By Arguing “At A Certain Point You’ve Made Enough Money.” OBAMA: “Now, what we’re doing -- I want to be clear, we’re not trying to push financial reform because we begrudge success that's fairly earned.  I mean, I do think at a certain point you’ve made enough money.” (President Barack Obama, Remarks on Wall Street Reform, Quincy, Illinois, 4/28/10)

Faced With Discontent Over High Gas Prices, Obama Pitted Americans Against Oil Companies. OBAMA: “Today, members of Congress have a simple choice to make:  They can stand with the big oil companies, or they can stand with the American people.” (President Barack Obama, Remarks On Oil And Gas Subsidies, Washington, DC, 3/29/12)

  • NOTE: In 2006, Obama Said It's The "Easiest Thing In The World" To Attack Oil Companies When Gas Prices Are High. OBAMA: "People want serious answers to these problems. If you're going to talk about energy for example. The easiest thing in the world is to look at Exxon Mobil's profits last quarter and say these folks are making $36 billion in one quarter, the CEO is making $500 million, and gas prices are high and we're getting gouged. That may be sufficient because it does describe the degree to which the powerful have made out like bandits over the last several years. That may be sufficient to get us through this election, but after the election, people then are going to say, ok smart guy, what are we going to do about energy?" (C-SPAN's "BookTV," 10/20/06)

Wynn Resorts CEO Steve Wynn: “This Administration Is The Greatest Wet Blanket To Business, And Progress And Job Creation In My Lifetime.” “And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration. And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America.” (“Wynn Slams Obama On Business: ‘Responsible For Fear In America,’” Real Clear Politics, 7/18/11)


Previous post

Great Moments: Where It All started

Next post

The Big Fail: Obama Fails College Costs 101
Republican National Committee

Connect With Us

Republican National Committee
Chairwoman Ronna McDaniel
News & Videos
  • 310 First Street SE, Washington, DC 20003
  • 202-863-8500

By providing your phone number, you are consenting to receive calls and SMS/MMS msgs, including autodialed and automated calls and texts, to that number from the Republican National Committee. Msg&data rates may apply. Terms & conditions/privacy policy apply 80810-info.com.

Paid for by the Republican National Committee. Not Authorized By Any Candidate Or Candidate's Committee. www.gop.com

By providing your phone number, you are consenting to receive calls and SMS/MMS msgs, including autodialed and automated calls and texts, to that number from the Republican National Committee. Msg&data rates may apply. Terms & conditions/privacy policy apply 80810-info.com.

Paid for by the Republican National Committee.
Not Authorized By Any Candidate Or Candidate's Committee. www.gop.com