Are We Satisfied? Nooo!

Even Obama Supporters – Even Obama Himself – Are Not Satisfied With The President’s Performance

President Obama : “Are We Satisfied?” Crowd: “Nooo!” Obama : “Of Course Not.“(President Barack Obama, Campaign Rally, Columbus, OH, 5/5/12)

OBAMA: “TOO MANY OF OUR FRIENDS AND FAMILY ARE STILL OUT THERE LOOKING FOR WORK”

Obama’s Failed Economic Policies Have Resulted In The Longest Stretch Of Severe Unemployment Since The Great Depression

Obama Has “A Scattershot Record (At Best) Of Focusing On The Main Concern Of Main Street: Joblessness.” “Obama arrives at his reelection campaign not merely with a weak performance on Wall Street crime enforcement and reform but also with a scattershot record (at best) of focusing on the main concern of Main Street: joblessness.” (Frank Rich, “Obama’s Original Sin,” New York Magazine, 7/3/11)

Under Obama, The Unemployment Rate Has Remained Above Eight Percent For A Record 39 Straight Months. (Bureau Of Labor Statistics, Accessed 5/4/12)

CNN Money: “Hiring Slowed In April And Workers Dropped Out Of The Labor Force In Droves – Not A Good Sign For The Job Market Going Forward.” “Hiring slowed in April and workers dropped out of the labor force in droves — not a good sign for the job market going forward. The economy added just 115,000 jobs in the month, the Labor Department reported Friday, down from March when employers created 154,000 jobs.” (Annalyn Censky, “April Jobs Report: Hiring Slows, Unemployment Falls,” CNN Money , 5/4/12)

• CNN Money: “Roughly 12.5 Million Americans Remain Unemployed, And 41.3% Of Them Have Been So For Six Months Or More.” (Annalyn Censky, “April Jobs Report: Hiring Slows, Unemployment Falls,” CNN Money, 5/4/12)

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)

In April, 342,000 Americans Dropped Out Of The Labor Force. (Bureau Of Labor Statistics, Accessed 5/4/12)

• “The Participation Rate, Which Indicates The Share Of Working-Age People In The Labor Force, Fell To 63.6 Percent, The Lowest Since December 1981, From 63.8 Percent.” (Shobhana Chandra, “Payrolls In U.S. Rose 115,000 In April; Jobless Rate At 8.1%,”Bloomberg, 5/4/12)
• The Number Of Workers Not In The Labor Force Reached An All-Time High Of 88,419,000. (Bureau Of Labor Statistics, Accessed 5/4/12)

OBAMA: “THE HOUSING MARKET’S STILL WEAK”

Obama’s “Alphabet Soup” Of Housing Programs Have Failed Struggling Homeowners

“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 Administration’s Foreclosure Prevention Programs “Have Had Little Impact On The Overall Housing Sector.” “The administration is already using taxpayer funds from its $700 billion bank bailout program to help prevent foreclosures and give struggling Americans a reprieve on their mortgage payments. But the programs have had little impact on the overall housing sector.” (“White House Says Needs To Deal With Housing Problems,” Reuters, 6/5/11)
• “To Date, Administration Programs Have Permanently Reduced The Debt Of Just One Tenth Of 1 Percent Of Underwater Borrowers.” (Zachary A. Goldfarb, “Obama’s Efforts To Aid Homeowners, Boost Housing Market Fall Far Short Of Goals,” The Washington Post, 10/23/11)

As Of March 2012, Over 5,591,000 Mortgages Are Either In Foreclosure Or 30 Or More Days Delinquent. (Press Release, “LPS ‘First Look’ Mortgage Report,” Lender Processing Services, 4/24/12)

“Housing Has Blown A Giant Smoking Hole In The Middle Of Our Economy, And The Consequences Continue To Impede The Pace Of Recovery.” “Here’s a reminder about a problem that still doesn’t get the attention that it deserves: Housing has blown a giant smoking hole in the middle of our economy, and the consequences continue to impede the pace of recovery.” (Binyamin Appelbaum, “Measuring Housing’s Drag On The Economy,” The New York Times’ “Economix,” 2/24/12)

Homeownership Is At Its Lowest Level Since 1997. “The nation’s homeownership rate fell to its lowest level since 1997, as the housing market continues its lengthy effort to shake off the puncturing of the subprime mortgage bubble. The U.S. Census Bureau reported Monday that the nation’s homeownership rate had dipped to 65.4 percent in the first quarter of 2012, down 0.6 percent from the end of 2011, and down a full percentage point from the same time last year. The rate of homeownership, which is the amount of homes purchased versus the total amount of housing units available, is at its lowest point since 1997.” (Peter Schroeder, “Homeownership Rate Hits 15-Year Low,” The Hill’s “On The Money,” 4/30/12)

OBAMA: “DEFICITS ARE STILL TOO HIGH”

Obama’s Binge Spending Has Saddled Future Generations With Massive Debt

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)

The Government Is In A Debt Trap That Could Be Fueling The Recession. “Our recession may be driven, at this point, by the balance sheet of the government. Repairing that balance sheet by lowering spending may be the only way out of the debt trap. Call it the New Paradox of Thrift: the government can stimulate growth only by refusing to borrow. We need thrift all the way down.” (John Carney, “From Jackson Hole: A Defense Of The Debt Ceiling,”CNBC, 8/29/11)

• Obama Recognized That If We Failed To Control Our Debt It Could Lead To A Double-Dip Recession. OBAMA: “It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession.”(Fox News, ” Interview With Major Garrett,” 11/18/09)

The CBO Projects The Deficit At The End Of Obama’s First Term Will Be $1.253 Trillion, Obama’s Fourth Straight Trillion Deficit. (“An Anlysis Of The President’s 2013 Budget,” Congressional Budget Office, 3/16/12)

• Politifact : “Obama Made A Pledge To Cut The Deficit In Half By The End Of His First Term. And He’s Falling Short So Far.” (Gregory Trotter, “Tim Pawlenty Says President Obama Is Going To Break Promise On Deficit And Will Double It,”Politifact , 6/10/11)

• The National Debt Is Now $15,671,202,480,642, An Increase Of Over $5.0 Trillion. (U.S. Treasury Department, Accessed 5/3/12)

OBAMA: “STATES ARE STILL LAYING OFF TEACHERS, FIRST RESPONDERS”

Obama’s Failed Stimulus Failed To Help Local Governments

Local Governments Are “Shedding Jobs In Unprecedented Numbers.” “Local governments, once a steady source of employment in tough economic times, are shedding jobs in unprecedented numbers, and heavy payroll losses are expected to persist into next year.” (Paul Davidson, “Budget Cuts Claim Hundreds Of Thousands Of County, City Jobs,”USA Today, 10/17/11)

• Most Of The Cuts Have Come Since The Recession Technically Ended In June 2009. “The cuts so far have mostly come since the recession ended in mid-2009, although they do not yet top those made in manufacturing and construction during and after the recession.” (Paul Davidson, “Budget Cuts Claim Hundreds Of Thousands Of County, City Jobs,” USA Today, 10/17/11)

Obama Signed A $26 Billion Package Which Included Aid To Teachers Last August.“The $26 billion package, which was approved by the House in a largely party-line vote earlier Tuesday, includes $10 billion to keep an estimated 160,000 teachers on the job, and $16 billion to help states meet their Medicaid payments for six months. Democrats say the aid to states could also help keep 150,000 police officers and other workers on payrolls.” (Devin Dwyer, “Obama Approves Billions For Teachers, Cops In Cash-Strapped States,” ABC News, 8/10/10)

Obama Predicted The Measure Would Save 160,000 Teaching Jobs. “Flanked by Education Secretary Arne Duncan and two teachers in the Rose Garden, Obama said the spending measure being considered by the House of Representatives will help to save the jobs of 160,000 teachers nationwide.” (Michael Shear, “Obama Urges House To Pass Emergency Funding For Teachers,” The Washington Post, 8/10/10)

• Since That Bill Passed, Local Governments Have Shed 161,400 Education Jobs. (Bureau Of Labor Statistics, BLS.gov, Accessed 5/3/12)
• Since Obama Took Office, Local Governments Have Shed 254,400 Education Jobs. (Bureau Of Labor Statistics, BLS.gov, Accessed 5/3/12)