In an interview with an independent Fox affiliate, yesterday, BHO had this say as an explanation for his failure to cut the deficit in half during his first term.
The short version of the following comment is "I didn't know."
Here is the long version - I call it "The Lie"
"Well we're not there [with deficit reduction and the promises Obama made] because this recession turned out to be a lot deeper than any of us realized. Everybody who is out there back in 2009, if you look back what their estimates were in terms of how many jobs had been lost, how bad the economy had contracted when I took office, everybody underestimated it. People thought that the economy contracted 3%. It turns it retracted close to 9%. We lost 8 million jobs just in a year's span, about half a year before I took office and half a year after I took office. . . . . the die had been cast, but a lot of us didn't understand at that point how bad it was going to get. That increases the deficit because less tax revenues come in, and it means that more people are getting unemployment insurance, we're helping states more so they don't teachers, etc. The key though is we're setting ourselves on a path where we can get our debt under control.”
Now "The Truth"
Point #1 has to do with the fact that nearly two trillion dollars of so-called stimulus was based upon what they did not know. At least, that is what Obama is now telling us and, for some idiotic reason, he thinks this absolves him from any responsibility as to the mess we are in. Think about what he wants us to believe: "I didn't know what I was doing, but I did it anyway and I am continuing with those who unknowing policies and, it is not my fault." Incredible.
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| Each bar represents a month of the year. The bottom fell out of the jobs market in September, In the final month of 2008, the economy lost 524,000 jobs, not 850,000 as Obama is quoted as saying, during this campaign cycle. |
Point #2: 2.6 million jobs were lost during the closing months of 2008, while the closing unemployment rate closed out the year at 7.2% .
CNN Money typified this fact (the above) as the worst unemployment circumstance "in six decades." CNN made the following observation on January 9, 2009, 11 days before our first Imperialist President took center stage:
A sobering U.S. Labor Department jobs report Friday showed the economy lost 524,000 jobs in December and 1.9 million in the year's final four months, after the credit crisis began in September
If Obama didn't know how bad things were, he was the only one.
Point #3: an implicit aspect of Obama's larger "cop-out" narrative, is this notion that he inherited the mess we are in. Liberals almost never admit complicity. In this case, they want you to ignore the fact that they, the Democrat Party and Senator Obama, controlled the purse strings of our national economy for the two years prior to this recessionary period. "They" were in control fin 2007, well before the current recession, when unemployment was running 4.8%. They were in control during the closing days of a 52 month run of increased GDP, the best such record in the history of this nation. "They" were the leaders and Senator Obama voted for every spending bill that came to the Senate during his stint as a congressman. Understand, the Establishment GOP was an equal partner during that time, but they were not the controlling political party.