Obama’s Five Phony Claims Debunked

| October 9 2012
Christopher Cook

In the previous post, we gave some examples of the collapse of Obama’s narrative and his paper-thin persona. At the end of the day, however, the biggest issue for America today is the economy. And on that score, Obama has actually done worse than many realize . . . and far, far worse than he’d like you to believe. Upon inspection, Obama’s claims about the economy—who broke it, whether his policies have helped, and more—crumble every bit as fast as his messianic, brilliant-politician, greatest-orator-in-history persona.

John Merline uses charts and prose to take apart each of Obama’s boilerplate claims. First, the chart:

Here are some excerpts from Merline’s text:

Claim #1 “Bush tax cuts and deregulation caused the recession.”

Bush’s tax cuts did not cause the last recession.

In fact, once they were fully in effect in 2003, they sparked stronger growth — generating more than 8 million new jobs over the next four years, and GDP growth averaging close to 3%.

Those tax cuts didn’t explode the deficit, either, as Obama frequently claims. Deficits steadily declined after 2003, until the recession hit.

Nor was Bush a deregulator. Conservative Heritage Foundation’s regulation expert James Gattuso concluded, after reviewing Bush’s record, that “regulation grew substantially during the Bush years.”

Claim #2: “I stopped a second Great Depression.”

The economy had pretty much hit bottom by the time Obama took office, and long before his policies were in place. The worst declines in monthly GDP and employment, in fact, occurred before he was even sworn in.

What’s more, the recovery officially started less than four months after Obama signed the stimulus into effect, when only a small fraction of the stimulus money was actually in the economy. Plus, other Obama economic interventions came either after the recession had ended — including his GM (GM) bailout — or have been widely judged to be failures.

Claim #3: My policies are working

Median household incomes, for example, have dropped $3,000 — a 5.7% decline — since the Obama recovery started. Income inequality has reached new heights.

There are 659,000 more long-term unemployed than there were in June 2009, and the share of people working has dropped to levels not seen in 30 years, according to the Bureau of Labor Statistics.

Meanwhile, there are 11.8 million more people on food stamps and nearly 2.7 million more in poverty than when the Obama recovery started.

Keep reading the article for the rest of the claims and the debunking thereof.

Barack Obama is all narrative and no substance. His claims on the economy are sandcastles, and the tide is coming in.

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