Contribute
CONNECT:

research

Top 5 Crises Of Barack Obama

- February 13, 2012

After Three Years, Obama’s Policies Have Failed To Move America Forward And Left Behind Millions Looking For Hope

ECONOMIC CRISIS: “THE WORST JOBS RECOVERY SINCE THE GREAT DEPRESSION”

The Economy Remains In “By Far The Worst Jobs Recovery Since The Great Depression.” “Even  with the recent gains, this is also by far the worst jobs recovery since the Great Depression, and the U.S. still has about 5.5 million fewer jobs than it did before the recession began in December 2007.” (Editorial, “The January Jobs Thaw,” The Wall Street Journal, 2/4/12)

  • “Our Economy Remains Deeply Depressed… Even At January’s Pace Of Job Creation It Would Take Us Until 2019 To Return To Full Employment.” “That said, our economy remains deeply depressed. As the Economic Policy Institute points out, we started 2012 with fewer workers employed than in January 2001 — zero growth after 11 years, even as the population, and therefore the number of jobs we needed, grew steadily. The institute estimates that even at January’s pace of job creation it would take us until 2019 to return to full employment.” (Paul Krugman, Op-Ed, “Things Are Not O.K.,” The New York Times, 2/5/12)

“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)

  • If Those Missing Workers Were In The Labor Force, Unemployment Would Be 10.4 Percent. "How is labor force participation looking today? At 64 percent, it is well below the peak of 67 percent during the dotcom bubble, and significantly below the steady state of 66 percent we saw during the 2000s. Given the Baby Boom retirement and other demographic shifts, CBO projections expected it to be declining - 65.3percent at the beginning of 2012. We are now 1.3 percentage points below that demographic estimate, the equivalent of 3.2 million 'missing' workers. If the 'missing' people were in the labor force, the unemployment rate today would be 10.4 percent, not the current 8.5 percent." ("Jobs Preview 2012:The Year of the Missing Worker," Hamilton Place Strategies, 1/2012)

Federal Reserve Chairman Ben Bernanke: A “Significant Number Of People” Have Dropped Out Of The Labor Force Or Are Working Part Time. “It's very important to look not just at the unemployment rate which reflects only people who are actively seeking work. But there are also a lot of people who are either out of the labor force because they don't think they can find work, and that's a significant number of people. There are also a lot of people who are working but part time, and they'd like to be working full time but they can't find full-time work.” (Ben Bernanke, Committee On The Budget, U.S. Senate, 2/7/12)

CBO: “The Unemployment Rate Would Be Even Higher Than It Is Now Had Participation In The Labor Force Not Declined As Much As It Has Over The Past Few Years.” “The unemployment rate would be even higher than it is now had participation in the labor force not declined as much as it has over the past few years. The rate of participation in the labor force fell from 66 percent in 2007 to an average of 64 percent in the second half of 2011, an unusually large decline over so short a time. About a third of that decline reflects factors other than the downturn, such as the aging of the baby-boom generation. But even with those factors removed, the estimated decline in that rate during the past four years is larger than has been typical of past downturns, even after accounting for the greater severity of this downturn.” (“The Budget And Economic Outlook: Fiscal Years 2012-2022,” Congressional Budget Office, 1/31/12)

Long-Term Unemployment “Remains At Levels Not Seen Since The Great Depression.” “And we should never forget that the persistence of high unemployment inflicts enormous, continuing damage on our economy and our society, even if the unemployment rate is gradually declining. Bear in mind, in particular, the fact that long-term unemployment — the percentage of workers who have been out of work for six months or more — remains at levels not seen since the Great Depression. And each month that this goes on means more Americans permanently alienated from the work force, more families exhausting their savings, and, not least, more of our fellow citizens losing hope.” (Paul Krugman, Op-Ed, “Things Are Not O.K.,” The New York Times, 2/5/12)

DEBT CRISIS: RAMPANT SPENDING, WHICH MAKES OBAMA “THE UNDISPUTED DEBT KING OF THE LAST FIVE PRESIDENTS”

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.” (“Nancy Pelosi Posts Questionable Chart On Debt Accumulation By Barack Obama, Predecessors,” Politifact, 5/19/11)

  • WaPo: “[Obama’s] Record On The Growth Of National Debt Is The Worst Of Recent Presidents.” “But the fact remains that under basic economic measures, not phony ones, his record on the growth of the national debt is the worst of recent presidents.” (Glenn Kessler, “A Bogus Chart On Obama And The Debt Gets A New Lease On Life,” The Washington Post's The Fact Checker, 9/29/11)

Government Spending As A Share Of The Economy Has Averaged 24 Percent During Obama’s Administration. “Government spending as a share of the economy has hovered around 24% during the Obama administration, several percentage points higher than under President Bush, according to Congressional Budget Office data. It's also elevated from the historical average of 20.7% over the past 40 years.” (Tami Luhby, “Did Obama Really Make Government Bigger?” CNN Money, 1/25/12)

The CBO Projects The Deficit At The End Of Obama’s First Term Will Be $1.079 Trillion, Obama’s Fourth Straight Trillion Deficit. (“The Budget And Economic Outlook: Fiscal Years 2012-2022,” Congressional Budget Office, 1/31/12; “Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)

  • “If The CBO Estimate Is Correct, It Would Mean That The United States Recorded A Deficit Of More Than $1 Trillion For Every Year Of Obama’s First Term.” (Erik Wasson, “CBO Projects $1.08T Deficit, Higher Unemployment,” The Hill’s “On The Money,” 1/31/12)
  • Even If Every Part Of Obama’s Deficit Reduction Proposal Was Enacted, The Deficit At The End Of His First Term Would Be Even Higher, $1.33 Trillion. (“The President’s Plan For Economic Growth And Deficit Reduction; Table S-3,” Office Of Management And Budget, 9/19/11)

HOUSING CRISIS: “THE WORST HOUSING DOWNTURN SINCE THE GREAT DEPRESSION”

“Falling Homeownership — And Prices — Reflect The Worst Housing Downturn Since The Great Depression.” “Falling homeownership — and prices — reflect the worst housing downturn since the Great Depression. And while there are signs that the housing industry's downturn may at least be nearing a bottom, the impact of the collapse will be evident for years to come, economists say.” (Julie Schmit, “Homeownership Rates Fall To 66% As Downturn Nears A Bottom,” USA Today, 1/31/12)

Housing “Continues To Struggle To Make A Meaningful Recovery.” “U.S. single-family home prices fell more than expected in November, highlighting a sector that continues to struggle to make a meaningful recovery, a closely watched survey showed on Tuesday.” (“Home Prices Fall More Than Expected,” MSNBC’s “Bottom Line,” 1/31/12)

  • Obama Admitted That Housing Has Been The “Most Stubborn In Us Trying To Solve The Problem.” “We’ve had to revamp our housing program several times to try to help people stay in their homes and try to start lifting home values up.  But of all the things we’ve done, that’s probably been the area that’s been most stubborn to us trying to solve the problem.” (President Barack Obama, Twitter Town Hall, Washington, D.C., 7/6/11)

 “The Alphabet Soup Of Housing Assistance Programs To Date -- HAMP, HARP, EHLP, 2MP -- Have Been Too Poorly Administered And Too Limited In Scope And Eligibility To Slow Or Halt The Slide In The U.S. Housing Market.” (Eric Wieffering, “Fixing economy Requires More Work On Housing,” Star Tribune, 9/17/11)

  •  “Every Program Has Fallen Far Short Of Goals.” “‘Every program has fallen far short of goals. I can't think of one that's been largely successful,’ says John Dodds, director of the Philadelphia Unemployment Project, a non-profit that's been involved in foreclosure prevention for decades.” (Julie Schmit, “What Went Wrong With Foreclosure Aid Programs,” USA Today, 12/12/11)

The Foreclosure Settlement Will Increase The Number Of Foreclosures In 2012 To Over One Million Homes. “In fact, the foreclosure process slowed significantly last year, as negotiations over the settlement dragged on and banks waited for the details to become clear. Now that there's a settlement in place, the rate of foreclosures is likely to pick up. Last year, banks repossessed just over 800,000 homes, according to RealtyTrac, a company that tracks this sort of thing. This year, that number is likely to be over 1 million, Daren Blomquist, a VP at RealtyTrac, told me this morning. Another million homes are likely to be repossessed 2013, he said. In a normal year, by comparison, the figure would be below 500,000.” (Jacob Goldstein, “Foreclosures Deal May Mean More Foreclosures This Year,” NPR’s “Planet Money,” 2/9/12)

POVERTY CRISIS:  “A RECORD HIGH” NUMBER OF AMERICANS LIVING IN POVERTY

The Number Of Americans In Poverty Rose To 46.2 Million In 2010. “The study found the number of Americans living in poverty grew to 46.2 million in 2010, up 27 percent from 36.5 million in 2006, the year before the start of the recession. During the same period, the U.S. population increased 3.3 percent.”  (Mary Wisniewski, “Poverty To Keep Rising Due To Slow Recovery: Study,” Reuters, 1/11/12)

In 2010, Child Poverty Reached 21.6 Percent And The Number Of High-Child-Poverty States Grew To 25. “By 2010, the national child poverty rate had risen to 21.6 percent, and the number of high-child-poverty states had nearly doubled, to 25.” (Alexander Eichler, “Child Poverty Tops 20 Percent In Half Of U.S. States: Report,” The Huffington Post, 1/3/12)

  • “It's Expected To Get Worse Before Things Get Better.” (Alexander Eichler, “Child Poverty Tops 20 Percent In Half Of U.S. States: Report,” The Huffington Post, 1/3/12)

The Amount Of Americans On Food Stamps Is “45% Higher Than When Obama Took Office, And Twice As High As The Average For The Previous 40 Years.”  “This year, more than 46 million (15% of all Americans) will get food stamps. That's 45% higher than when Obama took office, and twice as high as the average for the previous 40 years. This surge was driven in part by the recession, but also because Obama boosted the benefit amount as part of his stimulus plan.” (John Merline, “Is Presidnet Obama Creating A Nation Of Dependents,” Investor’s Business Daily, 1/26/12)

  •  “One In Five Americans Has Had Trouble Putting Food On The Table In The Past Year, And Nearly Half Of All U.S. Households Are Struggling To Cover Basic Expenses Like Electricity And Medical Care.” (Alexander Eichler, “Child Poverty Tops 20 Percent In Half Of U.S. States: Report,” The Huffington Post, 1/3/12)
  • “Many Of The 'New Poor' Are The Former Middle Class.” “‘Many of the 'new poor' are the former middle class,’ broadcaster Tavis Smiley, who requested the study, said in a statement.” (Mary Wisniewski, “Poverty To Keep Rising Due To Slow Recovery: Study,” Reuters, 1/11/12)

ETHICS CRISIS: OBAMA’S ETHICAL LAPSES STAND IN STARK CONTRAST TO HIS LOFTY RHETORIC

 “For All His Talk About Moving Beyond Conventional Political Tricks,” Obama Relies On Them.The second is that Barack Obama, for all his talk of moving beyond conventional political tricks, is doing just that, which wouldn’t be so glaring had it not been for his incessant call for a newer, cleaner and more transparent paradigm for American politics.” (Jim VandeHei, “The Political Transformation,” Politico, 2/9/12)

 “It's Well-Known That President Barack Obama Has Surrounded Himself With Lobbyists.” (John Carney, “Obama’s Lobbyist-Heavy Administration,” CNBC11/1/11)

Top Donors Have “Direct Contact” With Obama’s Closest Advisors. “New White House emails show a top donor to Barack Obama was in direct contact with one of the president’s closest advisers about the federal energy loan program, the latest disclosure underscoring the closeness between the administration and bundlers with a stake in Energy Department funding.” (Matthew Mosk And Ronnie Greene, “Donor Warned Obama That Solyndra 'Could Haunt Him,'” iWatch10/3/11)

Reporters Are “Ushered Out” Before Obama Has “Intimate Moments” With The Wealthy Contributors. “Intimate moments with contributors are rarely captured on camera, and while reporters get to hear the president's opening remarks at fundraising events, the interaction with donors occurs after reporters have been ushered out.” (Jim Kuhnhenn, “Obama’s Crossover Message, From Kitchen To Mansion,” The Associated Press12/14/11)

Freedom Of Information Act Requests Are Subjected To “Secretive Reviews” By The Obama Administration’s Political Advisors. “The Homeland Security Department official in charge of submitting sensitive government files to political advisers for secretive reviews before they could be released to citizens, journalists and watchdog groups complained in emails that the unusual scrutiny was ‘crazy’ and hoped someone outside the Obama administration would discover the practice, The Associated Press has learned.” (“Gov’t Emails: Political Reviews Over Requests For US Records ‘Meddling,’ ‘Crazy’ And ‘Bananas,’” The Associated Press,3/28/11)

DUE TO HIS FAILED RECORD, OBAMA HAS NOTHING TO RUN ON AND WILL RESORT TO “THE MOST NEGATIVE CAMPAIGN IN HISTORY”

“So Much For The High Road: Victory Is More Important Than Purity.” (Jim VandeHei, “The Political Transformation,” Politico, 2/9/12)

“If 2008 Was About ‘Yes, We Can,’” 2012 Will Be About “Why We Couldn’t.” “If 2008 was about lifting Mr. Obama up, 2012 will have at least some strong element of dragging down his Republican opponent (who the campaign believes will most likely be Mitt Romney). If 2008 was about ‘Yes We Can’ and limitless possibility, 2012 will be to some degree about why we couldn’t (‘Republican intransigence’), and why we shouldn’t, at least when it comes to anything the Republican nominee proposes (‘His party got us here in the first place’).” (Jim Rutenberg, “Team Obama Gears Up For 2012,” The New York Times, 11/26/11)

Democrat Pollsters Pat Caddell And Doug Schoen: Obama Can Only Win By Running “The Most Negative Campaign In History.” “Put simply, it seems that the White House has concluded that if the president cannot run on his record, he will need to wage the most negative campaign in history to stand any chance. With his job approval ratings below 45% overall and below 40% on the economy, the president cannot affirmatively make the case that voters are better off now than they were four years ago. He—like everyone else—knows that they are worse off.”(Patrick H. Caddell and Douglas E. Schoen, “The Hillary Moment,” The Wall Street Journal, 11/21/11)

ABC News' Jake Tapper: “It's Going To Be Difficult For Him To Talk About His Record.” "What's interesting, George, is the conundrum in which President Obama finds himself. He really can't run on so many of his major legislative accomplishments. Regardless of the merits of healthcare reform, financial reform, the stimulus, they're not popular. So what you see is President Obama is putting out other issues to discuss: raising taxes on the wealthy, raising taxes on corporations so as to bring jobs back to the United States. These are the issues he wants to talk about because it's going to be difficult for him to talk about his record when it comes to his big achievements." (ABC News' "Good Morning America," 1/27/12)

  • Obama Campaign Will Attempt To Focus On GOP Nominee’s “Shortcomings” In Order To “Divert Attention From The President’s Record.” “Obama's aides say the election will be ‘a choice, not a referendum.’ That hints at a bruising effort to divert attention from the president's record and focus on what the Obama campaign believes are the GOP nominee's chief shortcomings.” (Charles Babington, “Tough Economic Climate As Obama Seeks 2nd Term,” The Miami Herald9/5/11)

Previous post

What They Are Saying About Obama’s Budget

Next post

Failed Promise: Dodging On Failure
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