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Obama on the economy: ‘We tried our plan — and it worked’

zbacku 2012/07/24 22:14:47
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Obama's Delusion Has Gone To Another Level.
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Joel Gehrke


Discussing his economic policies at a fundraiser in Oakland, California, last night, President Obama, told supporters that “we tried our plan — and it worked.”

“We tried that and it didn’t work,” Obama said of Mitt Romney’s proposed tax cuts and spending cuts, which he dismissed as a Bush-style “top down” economic policy. “Just like we’ve tried their plan, we tried our plan — and it worked,” he added later in the speech. “That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”

Obama made these comments in Oakland, where the unemployment rate was 13.7 percent in May 2012. The national unemployment rate is 8.2 percent — up from 8.1 percent in May — for the second straight month.

To prove that his economic plans have “worked,” Obama cited the auto industry bailouts. “I refused to turn my back on a great industry and American workers,” he said. “Three years later, the American auto industry has come roaring back.”

Obama’s auto bailouts aren’t the unalloyed success he describes. “President Obama’s auto task force pressed General Motors and Chrysler to close scores of dealerships without adequately considering the jobs that would be lost or having a firm idea of the cost savings that would be achieved, an audit of the process has concluded,” The New York Times reported in 2010, based on an audit. “The report … estimated that tens of thousands of jobs were lost as a result.”

The Washington Examiner’s Conn Carroll also observes that Obama bailed out union pensions, while neglecting non-union workers, and decided not to follow the law by paying certain creditors — and still didn’t save money.

“All told Obama’s violations of bankruptcy law made the bailout of GM and Chrysler $26.5 billion more expensive than it had to be,” Carroll explained recently. “And according to Obama’s own Treasury Department, taxpayers stand to lose $23 billion if GM stock were sold today.”

Obama’s view of the economy is not shared by congressional leaders in his own party. “The economy has not recovered,” Rep. Henry Waxman, D-Calif., said in a recent interview. “Some people call it a recession, I think it’s a depression.”

Waxman’s message might not inspire enthusiastic cheers at a campaign rally, but at least he avoided having a Mission Accomplished moment on the economy.

Read More: http://washingtonexaminer.com/obama-on-the-economy...

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Top Opinion

  • Kiosk Kid 2012/07/25 00:01:32
    Care To Comment?
    Kiosk Kid
    +8
    The Obama Record: May's weak jobs report further confirms the president's policies are failing to help the economy. This is, indeed, the worst recovery since the Depression.

    • The share of Americans who've been out of work a long time — now at 42% of the unemployed — is the highest since the Great Depression (source: Labor Department).

    • The proportion of the civilian working-age population actually working, at 58%, is the smallest since the Carter era (Labor Department).

    • Growth in nonfarm payroll jobs since the recovery began in June 2009 is the slowest of any comparable recovery since World War II (Hoover Institution).

    • The rate of new business startups — the engine of job growth — has plunged to an all-time low of 7.87% of all businesses (Census Bureau).

    • 3 in 10 young adults can't find jobs and live with their parents, highest since the 1950s (Pew Research).

    • 54% of bachelor's degree-holders under the age of 25 are jobless or underemployed, the highest share in decades (Northeastern University).

    • Black teen unemployment, now at 37%, is near Depression-era highs (Labor Department).

    • Almost 1 in 6 Americans are now poor — the highest ratio in 30 years — and the total number of poor, at 49.1 million, is the largest on record (Census).

    • The share of Hispanics ...



    The Obama Record: May's weak jobs report further confirms the president's policies are failing to help the economy. This is, indeed, the worst recovery since the Depression.

    • The share of Americans who've been out of work a long time — now at 42% of the unemployed — is the highest since the Great Depression (source: Labor Department).

    • The proportion of the civilian working-age population actually working, at 58%, is the smallest since the Carter era (Labor Department).

    • Growth in nonfarm payroll jobs since the recovery began in June 2009 is the slowest of any comparable recovery since World War II (Hoover Institution).

    • The rate of new business startups — the engine of job growth — has plunged to an all-time low of 7.87% of all businesses (Census Bureau).

    • 3 in 10 young adults can't find jobs and live with their parents, highest since the 1950s (Pew Research).

    • 54% of bachelor's degree-holders under the age of 25 are jobless or underemployed, the highest share in decades (Northeastern University).

    • Black teen unemployment, now at 37%, is near Depression-era highs (Labor Department).

    • Almost 1 in 6 Americans are now poor — the highest ratio in 30 years — and the total number of poor, at 49.1 million, is the largest on record (Census).

    • The share of Hispanics in poverty has topped that of blacks for the first time, 28.2% to 25.4% (Census).

    • The number of Americans on food stamps — 45 million recipients, or 1 in 7 residents — also is the highest on record (Congressional Budget Office).

    http://news.investors.com/art...
    (more)

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  • princess 2012/07/30 23:48:33
    Obama's Delusion Has Gone To Another Level.
    princess
    Of course his Socialist plan has worked....he's accomplished EXACTLY what he set out to do---to destroy our economy with his Socialist agendas.
  • JohnPhilip 2012/07/27 02:49:12
    Obama's Delusion Has Gone To Another Level.
    JohnPhilip
    +1
    So, what you're telling me is that the United States didn't become the wealthiest nation by means of fiscal responsibility, low taxes and low spending, and small government? Tell me this moron is joking.

    Let's go through a little history, shall we?

    The United States of America has been around for a measly 236 years. No nation in the history of the world has advanced as far as this one has in the short time that it has been in existence.

    The country of Mongolia has been around for more than 2,000 years, yet it is no where near as wealthy or as powerful as the United States is.

    The nation of Persia, or modern day Iran, has been around for well over 4,000 years, even longer than Mongolia. Yet, even though this country is wealthier than Mongolia, making the top 30 wealthiest nations in 2008, it is still nowhere near as wealthy or powerful as the United States

    Great Britain has been around for over 2,000 years, making the top 10 wealthiest nations in the world at number 6 in 2008. In its 2,000 years of history, it has never become as wealthy or powerful as what the United States has achieved.

    The nation of India has been around for well over 4,000 years, yet it has never achieved the major wealth and power the United States did. It ranked among the top 15 wealthiest nations...















    So, what you're telling me is that the United States didn't become the wealthiest nation by means of fiscal responsibility, low taxes and low spending, and small government? Tell me this moron is joking.

    Let's go through a little history, shall we?

    The United States of America has been around for a measly 236 years. No nation in the history of the world has advanced as far as this one has in the short time that it has been in existence.

    The country of Mongolia has been around for more than 2,000 years, yet it is no where near as wealthy or as powerful as the United States is.

    The nation of Persia, or modern day Iran, has been around for well over 4,000 years, even longer than Mongolia. Yet, even though this country is wealthier than Mongolia, making the top 30 wealthiest nations in 2008, it is still nowhere near as wealthy or powerful as the United States

    Great Britain has been around for over 2,000 years, making the top 10 wealthiest nations in the world at number 6 in 2008. In its 2,000 years of history, it has never become as wealthy or powerful as what the United States has achieved.

    The nation of India has been around for well over 4,000 years, yet it has never achieved the major wealth and power the United States did. It ranked among the top 15 wealthiest nations in 2008.

    The country of Japan has been around for several thousand years, and only now is it closing the gap of wealth with the United States. It is also nowhere near as powerful as the this country has achieved.

    The Egyptian civilization has been around for over 4,000 years, and today, it only ranks as number 50 in the top 50 wealthiest nations in 2008.

    And last but not least, the mighty nation of China has been around for well over 4,000 years, but in that 4,000 years it has never achieved the wealth and power the United States enjoys today. Though, many argue that this will be changing within the next decade, maybe 2.

    In closing, there are several other nations that have been around for thousands of years, and while this list most certainly does not cover all nations several thousands of years old, it gets my point across.

    These countries have been around for thousands of years, and in those thousands of years of existence, they have never experienced the unprecedented wealth and power that the United States holds today. Yet, in its short 236 years of existence, the United States of America has become the world's most powerful nation in every single definition, and has become the world's wealthiest nation, enjoying unprecedented wealth.

    Obviously, to experience such an unprecedented status in such a short amount of time, the United States had to have done something right, that nearly every single nation has never tried before.

    Maybe, just maybe, I don't want to sound to radical or ridiculous for suggesting such an idea, but just maybe this is because of our founding ideals of limited government, fiscal responsibility, individual rights, popular sovereignty, the free enterprise system are what lead to it.

    As opposed to what the Socialist-in-Chief has in store for us should he win a 2nd term, which history has also clearly demonstrated, leads to ruin, poverty, inequality and injustice.
    (more)
  • frank 2012/07/25 18:23:57
    Obama's Delusion Has Gone To Another Level.
    frank
    +1
    Please can someone tell me what plan is he talking about that is working, is it the one to destroy America, it seems to be only one working.
  • tdterry1999 2012/07/25 12:09:15
    Obama's Delusion Has Gone To Another Level.
    tdterry1999
    +1
    Just like most lefties on here.Some has went over the edge.Others are walking towards it.
  • mightymouse49 2012/07/25 11:43:18
    Care To Comment?
    mightymouse49
    +1
    From his viewpoint, he has met his objective....to fundamentally 'change' America. Give him 4 more and America will be begging crumbs from it's federal government as we doggedly claim our prize of 'third world' status. Yeah socialism, marxism, communism, collectivism. Boo capitalism, republicanism, individualism. Yeah slavery. Boo freedom.
  • DrDelos 2012/07/25 00:52:28
    Obama's Delusion Has Gone To Another Level.
    DrDelos
    +5
    It worked? IT WORKED???????? Just how stupid does he think we are?
  • mightym... DrDelos 2012/07/25 11:45:51
    mightymouse49
    +1
    Half white man speak with fork-ed tongue.
  • Dale DrDelos 2012/07/25 11:45:52
    Dale
    +3
    Unfortunatly, he must think the general populace is pretty stupid. Afterall, the general populace elected him once, right?
  • Kiosk Kid 2012/07/25 00:01:32
    Care To Comment?
    Kiosk Kid
    +8
    The Obama Record: May's weak jobs report further confirms the president's policies are failing to help the economy. This is, indeed, the worst recovery since the Depression.

    • The share of Americans who've been out of work a long time — now at 42% of the unemployed — is the highest since the Great Depression (source: Labor Department).

    • The proportion of the civilian working-age population actually working, at 58%, is the smallest since the Carter era (Labor Department).

    • Growth in nonfarm payroll jobs since the recovery began in June 2009 is the slowest of any comparable recovery since World War II (Hoover Institution).

    • The rate of new business startups — the engine of job growth — has plunged to an all-time low of 7.87% of all businesses (Census Bureau).

    • 3 in 10 young adults can't find jobs and live with their parents, highest since the 1950s (Pew Research).

    • 54% of bachelor's degree-holders under the age of 25 are jobless or underemployed, the highest share in decades (Northeastern University).

    • Black teen unemployment, now at 37%, is near Depression-era highs (Labor Department).

    • Almost 1 in 6 Americans are now poor — the highest ratio in 30 years — and the total number of poor, at 49.1 million, is the largest on record (Census).

    • The share of Hispanics ...



    The Obama Record: May's weak jobs report further confirms the president's policies are failing to help the economy. This is, indeed, the worst recovery since the Depression.

    • The share of Americans who've been out of work a long time — now at 42% of the unemployed — is the highest since the Great Depression (source: Labor Department).

    • The proportion of the civilian working-age population actually working, at 58%, is the smallest since the Carter era (Labor Department).

    • Growth in nonfarm payroll jobs since the recovery began in June 2009 is the slowest of any comparable recovery since World War II (Hoover Institution).

    • The rate of new business startups — the engine of job growth — has plunged to an all-time low of 7.87% of all businesses (Census Bureau).

    • 3 in 10 young adults can't find jobs and live with their parents, highest since the 1950s (Pew Research).

    • 54% of bachelor's degree-holders under the age of 25 are jobless or underemployed, the highest share in decades (Northeastern University).

    • Black teen unemployment, now at 37%, is near Depression-era highs (Labor Department).

    • Almost 1 in 6 Americans are now poor — the highest ratio in 30 years — and the total number of poor, at 49.1 million, is the largest on record (Census).

    • The share of Hispanics in poverty has topped that of blacks for the first time, 28.2% to 25.4% (Census).

    • The number of Americans on food stamps — 45 million recipients, or 1 in 7 residents — also is the highest on record (Congressional Budget Office).

    http://news.investors.com/art...
    (more)
  • jeane Kiosk Kid 2012/07/25 03:12:17
    jeane
    +5
    JUST THE FACTS - thank you KK JUST THE FACTS
  • Lady Whitewolf 2012/07/24 23:35:32
    What Do You Think?
    Lady Whitewolf
    I see the connys are out in full force on this one....
  • zbacku Lady Wh... 2012/07/25 00:07:28
    zbacku
    +4
    Sure glad you think the economy is good. No one else does. Seems like most of us live in the real world.
  • bob'45 2012/07/24 23:08:19
    Obama's Delusion Has Gone To Another Level.
    bob'45
    +4
    Consider the audience Obama was speaking to.....You could tell that group an apple is a banana, and they would believe it. Obama is in heaven when he goes to California.
  • Kiosk Kid bob'45 2012/07/25 14:49:03
    Kiosk Kid
    +1
    Three major cities in California have declared bankruptcy and Obama tells them the economy is good.
  • bob'45 Kiosk Kid 2012/07/25 15:14:03
    bob'45
    +1
    And the crowd was clapping.Now that's the definition of insanity.
  • mwg0735 2012/07/24 22:55:05
  • Dale 2012/07/24 22:44:41
    Obama's Delusion Has Gone To Another Level.
    Dale
    +3
    Damn, I wish he would share. And what he is ingesting in a smoked form certainly is not oregano. Five Trillion dollars more in debt in three years, nearly one trillion in "stimulus" poured down the toilet, and an effective unemployment rate of above 15 percent... and Incumbent says "We tried our plan -- and it worked.' I want some of that good chit he ain't sharin'.
  • keeper 2012/07/24 22:44:39
    Obama's Delusion Has Gone To Another Level.
    keeper
    +6
    I seriously question his sanity if he believes his plan has worked. We hereby have an insane potus!!
  • mal 2012/07/24 22:23:24
    Care To Comment?
    mal
    +3
    His plans were a joke . Most of the money was stolen by the bankers who own him.
  • Gracie ~Gun Totin' Gracie~ 2012/07/24 22:21:59
    Obama's Delusion Has Gone To Another Level.
    Gracie ~Gun Totin' Gracie~
    +7
    He needs to let go of the crack pipe! obama smokes crackpipe
  • greatwhyte2 2012/07/24 22:18:03
    Care To Comment?
    greatwhyte2
    +4
    Has he been drinking all these plans nothing has worked america still is in the hole but worse guess thats the didn't work part.What a dumb thig to say.
  • Gracie ... greatwh... 2012/07/24 22:20:34
    Gracie ~Gun Totin' Gracie~
    +6
    He is an absolute dumba&&!
  • greatwh... Gracie ... 2012/07/24 22:24:05
    greatwhyte2
    +3
    agreed whole heartily
  • Gracie ... greatwh... 2012/07/24 22:26:42
    Gracie ~Gun Totin' Gracie~
    +3
    His followers have to be totally brainless to listen to this idiot.
  • greatwh... Gracie ... 2012/07/24 22:28:52
    greatwhyte2
    +4
    They are sheep of america. illegals and blk people who just want to see a blk in the whitehouse and idiots.
  • Gracie ... greatwh... 2012/07/25 01:11:34
    Gracie ~Gun Totin' Gracie~
    +3
    What a disgrace to the office he is.
  • greatwh... Gracie ... 2012/08/13 20:14:53
    greatwhyte2
    yep agreed
  • mightym... greatwh... 2012/07/25 11:53:45
    mightymouse49
    ..also graduates of a govt. run school system devoted to Americas downfall. Boo capitalism. Yeah socialism.

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