RNC Research Briefings in Response to President Obama's Dec. 6, 2011 Osawatomie Speech

Dec. 5, 2011 7:01 AM
Not Worth His Salt
Obama Travels To Kansas Tomorrow To Channel Teddy Roosevelt, But There Is One Part Of Teddy’s Speech That Obama Will Skip 
 
President Theodore Roosevelt: A Broken Promise Is Bad Enough In Private Life. It Is Worse In The Field Of Politics. No Man Is Worth His Salt In Public Life Who Makes On The Stump A Pledge Which He Does Not Keep After Election; And, If He Makes Such A Pledge And Does Not Keep It, Hunt Him Out Of Public Life.” (President Theodore Roosevelt, “New Nationalism,” Osawatomie, Kansas, 8/31/1910)
OBAMA MADE NUMEROUS PROMISES TO THE AMERICAN PEOPLE WHICH HE HAS FAILED TO KEEP
Obama Promised To End Special Interest Access
PROMISE: When Announcing His Campaign For Presidency, Obama Pledged To End Special Interest Access. “Special interests have turned our government into a game only they can afford to play … They get the access while you get to write a letter … The time for that kind of politics is over. It’s through.” (Sen. Barack Obama, Remarks Announcing Campaign For President, Springfield, IL, 2/17/07)
FAILURE: Bundlers Meet With Obama In The White House To Talk About Policy And Later Host Fundraisers For Obama’s Campaign. “They glide easily through the corridors of power in Washington, with a number of them hosting Mr. Obama at fund-raisers while also visiting the White House on policy matters and official business.” (Eric Lichtblau, “Obama Backers Tied To Lobbies Raise Millions,” The New York Times, 10/27/11)
·         Obama’s Promises Of Change Were “Either Hopelessly Naïve” Or Were “A Little Bit Of A Shell Game.” “‘Any president who says he’s going to change this is either hopelessly naïve or polishing the reality to promise something other than can be delivered,’ said Paul Light , a New York University professor and expert on presidential transitions. ‘At best it’s naïve and a little bit of a shell game.’”(Fred Schulte, John Aloysius Farrell, And Jeremy Borden, “Obama Rewards Big Bundlers With Jobs, Commissions, Stimulus Money, Government Contracts, And More,” IWatch, 6/15/11)
Obama Is Ignoring His Pledge To Not Take Money From Special Interests, Raising Millions From “Prominent Supporters Who Are Active In The Lobbying Industry.” “Despite a pledge not to take money from lobbyists, President Obama has relied on prominent supporters who are active in the lobbying industry to raise millions of dollars for his re-election bid.” (Eric Lichtblau, “Obama Backers Tied To Lobbies Raise Millions,” The New York Times, 10/27/11)
At Least 15 Of Obama’s Bundlers Are In The Lobbying Industry And Have Raised Over $5 Million For Obama’s Reelection Campaign. “At least 15 of Mr. Obama’s ‘bundlers’ — supporters who contribute their own money to his campaign and solicit it from others — are involved in lobbying for Washington consulting shops or private companies. They have raised more than $5 million so far for the campaign.” (Eric Lichtblau, “Obama Backers Tied To Lobbies Raise Millions,” The New York Times, 10/27/11)
The Bundlers Show The Obama Ethics Policies Do Not Match The “On-The-Ground Practices.” “But the prevalence of major Obama fund-raisers who also work in the lobbying arena threatens to undercut the president’s ethics push, raising questions about whether the campaign’s policies square with its on-the-ground practices, some of those same watchdogs say.” (Eric Lichtblau, “Obama Backers Tied To Lobbies Raise Millions,” The New York Times, 10/27/11)
Obama’s Stimulus Failed To Keep Unemployment Below 8 Percent As Promised
PROMISE: The White House Predicted Unemployment Would Not Rise Above Eight Percent With Stimulus. (Christina Romer and Jared Bernstein, “The Job Impact Of The American Recovery And Reinvestment Plan,”1/9/09)
FAILURE: Since Obama’s $825 Billion Stimulus Passed, The Unemployment Rate Has Remained Above Eight Percent For A Post-WWII Record 34 Straight Months.(Bureau Of Labor Statistics, BLS.gov, Accessed 12/2/11)
Obama Promised To Cut The Deficit In Half In His First Term
PROMISE: “President Barack Obama Plans To Cut The U.S. Budget Deficit To $533 Billion By The End Of His First Term …” (Hans Nichols, “Obama Plans To Reduce Budget Deficit To $533 Billion By 2013,” Bloomberg, 2/21/09)
  • The President Believed That A Failure To Control The Deficit Would “Make It Harder For The Economy To Grow.” “Obama wants to reduce the deficit because he’s concerned that over time, federal borrowing will make it harder for the U.S. economy to grow and create jobs, said the official, speaking on the condition of anonymity.”  (Hans Nichols, “Obama Plans To Reduce Budget Deficit To $533 Billion By 2013,” Bloomberg, 2/21/09)
FAILURE: The National Debt Is Now Over $15 Trillion Dollars. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 12/3/11)
Since President Obama Took Office, The National Debt Has Risen $4.4 Trillion, An Increase Of Over 41 Percent. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 12/3/11)
·         Under Obama’s Watch, Each Citizen’s Share Of The National Debt Has Risen By Over $14,250. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 12/3/11)
Even Though He Promised To Tackle The Deficit, Obama Has “More Mundane Political Imperatives, Like Positioning Himself For His 2012 Re-Election Campaign.” “As a candidate, Obama promised to deal with the exploding deficit – so committed to tackling the underlying issue of entitlement reform that he told the Washington Post he’d make the ‘hard decisions… under my watch’ shortly before his inauguration almost 27 months ago. But as president, such high-minded goals have run headlong into a tanking economy and more mundane political imperatives, like positioning himself for his 2012 re-election campaign.” (Carol Budoff Brown, Glenn Thrush and David Nather, “Showtime For President Ambivalent About Deficit,” Politico, 4/12/11)
Obama Promised That No One Would Take Away Your Health Care Plan
PROMISE: President Obama Promised That “If You Like Your Health Care Plan, You Will Be Able To Keep Your Health Care Plan. Period.No One Will Take It Away. No Matter What.”(President Barack Obama, Address To The American Medical Association, Chicago, IL, 6/15/09)
FAILURE: Towers Watson Survey Finds That “One Out Of Every 10 Midsized And Large Companies Say They’ll Stop Offering Health Insurance Once Federal Insurance Exchanges Kick Off In 2014.” (Ryan Jaslow, “Is Employer-Sponsored Health Insurance On Life Support?” CBS News, 8/24/11)
·         “For Retirees, More Than Half Of Employers (54%) That Offer Health Care Benefits Plan To Discontinue Them For Both Pre-65 And Post-65 Retirees.” (“Employers Committed To Offering Health Care Benefits Today; Concerned About Viability Of Insurance Exchanges,” Towers Watson, 8/24/11)
Union Leader: New Hampshire Medicare Advantage Beneficiaries Were Lied To. “Remember when President Obama said that if his health care ‘reform’ law passed, you’d still get to keep your doctor? Medicare Advantage participants in the Granite State are finding out what a lie that was.” (Editorial, “A Small Taste: New Hampshire Samples ObamaCare,” Union Leader, 12/1/11)
  • Union Leader: Americans Will Lose Coverage Along With Their Health Providers As Well. “Its regulations will so skew the private insurance market that millions will lose the coverage they have and be forced into plans preferred by bureaucrats in Washington. They will lose access to their doctors, too. It would make a lot more sense to reform the health insurance market by working to give people more control over their own care, not less.”(Editorial, “A Small Taste: New Hampshire Samples ObamaCare,” Union Leader, 12/1/11)
FactCheck.org: The White House Ad Promising Medicare “Benefits Will Remain The Same” Is False. “Currently, about 1 in every 4 Medicare beneficiary is enrolled in a Medicare Advantage plan. For many of them, the words in this ad ring hollow, and the promise that ‘benefits will remain the same’ is just as fictional as the town of Mayberry was when Griffith played the local sheriff.” (Brooks Jackson, “Mayberry Misleads On Medicare,” FactCheck.org, 7/31/10)
Obama Promised That Lobbyists Would Not Find A Job In His White House
PROMISE: Obama Promised That Lobbyists Would Not “Find A Job In [His] White House.” “President Obama promised during his campaign that lobbyists ‘won't find a job in my White House.’ … Formalized in a recent presidential executive order, it forbids executive branch employees from working in an agency, or on a program, for which they have lobbied in the last two years.” (Kenneth P. Vogel & Mike Allen, “Obama Finds Room For Lobbyists,” Politico, 1/30/09) 
  • Obama’s Anti-Lobbyist Promise “Is The Cornerstone Of President Obama's Campaign Theme About Limiting The Influence Of Special Interests.” “Of the 513 promises we're tracking, this one has become the most controversial. It is the cornerstone of President Obama's campaign theme about limiting the influence of special interests.  During the campaign, Obama said many times that lobbyists would not run his White House, and the campaign delighted in tweaking rival John McCain for the former lobbyists who worked on McCain's campaign.” (Angie Drobnic Holan, “Former Lobbyist In The White House? It's Okay If They Say It's Okay,” Politifact, 3/17/09)
FAILURE: President Obama Has Granted Numerous Exceptions To His Lobbyist Ban. “Yet in the past few days, a number of exceptions have been granted, with the administration conceding at least two waivers and that a handful of other appointees will recuse themselves from dealing with matters on which they lobbied within the two-year window.” (Kenneth P. Vogel & Mike Allen, “Obama Finds Room For Lobbyists,” Politico, 1/30/09)  
  • Politifact: “We Rate Obama's ‘Revolving Door’ Policy For Former Lobbyists His Biggest Broken Promise.” (Angie Drobnic Holan, “Not So Fast On Obama Revolving Door Policy,” Politifact, 1/23/09)
  • Politifact Gives Obama A “False” On His Claim To Have “Excluded Lobbyists From Policymaking Jobs.” “Obama said that he has ‘excluded lobbyists from policymaking jobs.’ But that's not the case. We know of at least four that have taken on policymaking roles in the Obama administration -- Frye's title even contains the word ‘policy.’ While these appointments may be few and far between, and while those who made the cut have signed special waivers, we give Obama a False on this claim.” (“Obama Says Lobbyists Have Been Excluded From Policy-Making Jobs,” Politifact,10/7/11)
The Center For Responsive Politics Finds Over 300 Individuals In The Obama Administration Who Have Been Through The Revolving Door, With 98 Individuals Who Are Current Or Former Registered Lobbyists. (Center For Responsive Politics, Opensecrets.org, Accessed 10/7/11)
BUT THERE’S ONE POST-STUMP PROMISE AMERICANS WILL HOLD OBAMA TO
In 2009, Obama Said If “I Don’t Have This Done In Three Years, Then There’s Going To Be A One-Term Proposition.”  OBAMA: “That's exactly right. Andand, you know, a year from now I think people — are going to see that — we're starting to make some progress. But there's still going to be some pain out there. If I don't have this done in three years, then there's going to be a one-term proposition.” (NBC’s “The Today Show,” 2/2/09)
·          Obama: And there's no excuse--I'm not going to make any excuses. If stuff hasn't worked and people don't feel like I've led the country in the right direction, then you'll have a new president.” (President Barack Obama, Remarks on Economic Stabilization and a Question-and-Answer Session, Fort Myers, Florida, 2/10/09)


Dec. 6, 2011 7:00 AM
Obama’s Always “Out Of Balance” In Kansas
Obama’s “Out Of Balance” Economy Messaging Sounds Familiar 
 
DESPITE BEING PRESIDENT FOR THREE YEARS, OBAMA WILL MAKE THE SAME CALL AS CANDIDATE OBAMA FOR “FAIRNESS AND BALANCE”
THEN: Obama: We Need “To Restore Fairness And Balance To Our Economy.”But we need to do even more to restore fairness and balance to our economy.” (Senator Barack Obama, “Reclaiming The American Dream,” El Dorado, Kansas, 1/29/08)
·          Obama “Dwelled” On The Idea That The Economy Is “Out Of Balance” And Criticized CEO Bonuses. “In El Dorado, he dwelled on the economy, which he called ‘out of balance,’ delivering millions in bonuses to CEOs but little affordable health insurance to working families.” (Scott Cannon And Steve Kraske, “Obama Comes To KC Calling For Change,” The Kansas City Star, 1/30/08)
NOW: Obama Will Call To Restore Fairness To The Economy. “Obama will ‘lay out the choice we face between a country in which too few do well while too many struggle to get by, and one where we're all in it together – where everyone engages in fair play, everyone does their fair share, and everyone gets a fair shot,’ the White House said in a statement announcing the Kansas address.” (Aamer Madhani, “Obama Looks To Emulate Teddy Roosevelt,” USA Today, 12/3/11)
OBAMA ALSO CALLED FOR AN END TO THE DIVISIVE POLITICS HE HAS SINCE EXPLOITED
THEN: Obama Said He Would “Fundamentally Reject” The Politics Of Division Used “To Score Points And Win Elections.We have been made to believe that differences of race and region; wealth and gender; party and religion have separated us into warring factions; into Red States and Blue states made up of individuals with opposing wants and needs; with conflicting hopes and dreams. It is a vision of America that's been exploited and encouraged by pundits and politicians who need this division to score points and win elections. But it is a vision of America that I am running for President to fundamentally reject - not because of a blind optimism I hold, but because of a story I've lived.” (Senator Barack Obama, “Reclaiming The American Dream,” El Dorado, Kansas, 1/29/08)
NOW: “Forget Hope And Change,” Obama’s Reelection Campaign Is Based On “Fear And Loathing.” “Forget hope and change. President Obama’s reelection campaign is going to be based on fear and loathing: fear of what a Republican takeover would mean, and loathing of whomever the Republican nominee turns out to be. Of course the Obama campaign will attempt to present the affirmative case for his reelection, citing legislative achievements, foreign policy successes and the current flurry of executive actions. But his strategists have clearly concluded that selling the president will not be enough, and the contours of the ugly months ahead are becoming increasingly apparent.” (Ruth Marcus, “Campaign 2012: Welcome To The Slugfest,” The Washington Post, 11/2/11)
  • And As Much As Obama Presented Himself As Above The Regular Partisan Fray During The 2008 Campaign, He Was Not Averse To Taking The Lower Road When It Appeared The Advisable Route.” (Ruth Marcus, “Campaign 2012: Welcome To The Slugfest,” The Washington Post, 11/2/11)
THEN: Obama Said Washington Is Where Politicians “Demonize Each Other” Rather Than Work With Each Other.But the biggest divide in America today is not between its people, it is between its people and their leaders in Washington, DC. That is where our collective dream has been deferred. That's where the money and influence of lobbyists kill our plans to make health care more affordable or energy cleaner year after year after year. That's where campaign promises to keep jobs in America or put tax cuts in the pockets of working families are cast aside to make room for the politics of the moment. And that's where politicians would rather demonize each other to score points than come together to solve our common challenges.” (Senator Barack Obama, “Reclaiming The American Dream,” El Dorado, Kansas, 1/29/08)
NOW:Obama’s “Overly Partisan Road” Is To Blame For “Stalemate In Washington.” “One year ago in these pages, we warned that if President Obama continued down his overly partisan road, the nation would be ‘guaranteed two years of political gridlock at a time when we can ill afford it.’ The result has been exactly as we predicted: stalemate in Washington, fights over the debt ceiling, an inability to tackle the debt and deficit, and paralysis exacerbating market turmoil and economic decline.” (Patrick H. Caddell and Douglas E. Schoen, “The Hillary Moment,” The Wall Street Journal, 11/21/11)
·         Obama’s Partisan Tone Has “Eroded Our National Identity, Common Purpose, And Most Of All, Economic Strength.” “By going down the re-election road and into partisan mode, the president has effectively guaranteed that the remainder of his term will be marred by the resentment and division that have eroded our national identity, common purpose, and most of all, our economic strength. If he continues on this course it is certain that the 2012 campaign will exacerbate the divisions in our country and weaken our national identity to such a degree that the scorched-earth campaign that President George W. Bush ran in the 2002 midterms and the 2004 presidential election will pale in comparison.” (Patrick H. Caddell and Douglas E. Schoen, “The Hillary Moment,” The Wall Street Journal, 11/21/11)


Dec. 6, 2011 2:58 PM
Fact Check: Obama In Kansas
Obama Can Give Yet Another Speech With Lofty Rhetoric, But No Amount Of Words Can Hide His Record Of Failure   
 
OBAMA RHETORIC: BANKS MAKING RISKY BETS
Obama: “The new law bans banks from making risky bets with their customers’ deposits, and takes away big bonuses and paydays from failed CEOs, while giving shareholders a say on executive salaries.” (President Barack Obama, Speech, Osawatomie, KS, 12/6/11)
FACT CHECK: Obama Cites Rules That Were Delayed After Personal Lobbying By Jon Corzine
President Obama: Jon Corzine Is “Our Wall Street Guy.” “The rollout also provided a showcase for Corzine, the former Goldman Sachs CEO whom Obama referred to as ‘our Wall Street guy’ at a meeting of Democratic governors in Chicago on Friday.” (Claire Heininger, “Corzine Profile Rises In Obama Camp,” The Star-Ledger (NJ),6/23/08)
Corzine’s Firm Borrowed Cash From Its Customers, “A Serious Violation Of Wall Street Rules.” “In the last days before MF Global’s collapse, the firm was borrowing cash from its customers without backing the loans, a serious violation of Wall Street rules that regulators believe contributed to $600 million of missing money.” (Ben Protess, “MF Global Is Said To Have Used Customer Cash Improperly,” The New York Times,11/17/11)
  • “At Least Some Of The Borrowed Customer Cash Was Used To Pay Off Bad Bets Made By MF Global, Regulators Suspect, Meaning The Money Is Not Simply Missing. It Is Gone.” (Ben Protess, “MF Global Is Said To Have Used Customer Cash Improperly,” The New York Times,11/17/11)
·         $1.2 Billion Is Missing. “The court-appointed trustee overseeing MF Global's bankruptcy says up to $1.2 billion is missing from customer accounts, double what the firm had reported to regulators last month.”  (Marcy Gordon, “MF Global Trustee Says $1.2B Or More Missing,” The Associated Press, 11/21/11)
Yesterday The CFTC Approved The “MF Global Rule” Which Would Bar Wall Street “From Using Client Funds To Buy Foreign Sovereign Debt.” “Federal regulators approved tougher constraints on Wall Street risk-taking on Monday, adopting the ‘MF Global rule,’ named after the collapsed brokerage firm that is believed to have improperly used hundreds of millions of dollars of customer money. The new rule will limit how the brokerage industry can invest customer money, largely barring firms from using client funds to buy foreign sovereign debt. It also prevents a complex transaction that allowed MF Global, in essence, to borrow money from its own customers.” (Ben Protess, “Regulator Approves ‘MF Global Rule,’” The New York Times’ Dealbook,” 12/5/11)
  • “MF Global Violated That Principle In Its Final Chaotic Days, Tapping Its Segregated Client Accounts To Meet Its Own Financial Obligations, People Briefed On The Matter Have Said.” (Ben Protess, “Regulator Approves ‘MF Global Rule,’” The New York Times’ Dealbook,” 12/5/11)
The CFTC Proposed The Rule In October 2010, But “Met A Powerful Roadblock In Mr. Corzine.” “Mr. Gensler’s agency initially proposed the crackdown in October 2010, and neared a vote on the plan this summer. But at the time, the agency met a powerful roadblock in Mr. Corzine, former Democratic governor of New Jersey.” (Ben Protess, “Regulator Approves ‘MF Global Rule,’” The New York Times’ Dealbook,” 12/5/11)
·         Rule “Was Originally Proposed In The Summer, But Its Finalization Was Delayed After Wall Street Executives, Including Corzine Personally, Lobbied Against It.” “MF Global was brought down primarily by billions of dollars in investments in bonds from troubled European nations, a move that was reportedly pushed by Corzine. The CFTC rule also prohibits firms from using those funds to lend to entities within the same company in another attempt to keep customer accounts intact. ‘I believe there is an inherent conflict of interest between parts of a firm doing these transactions,’ said CFTC Chairman Gary Gensler. Gensler, who previously worked with Corzine at Goldman Sachs and as a staffer on the Senate Banking Committee, recused himself from all matters related to the firm after it went bankrupt. The rule was originally proposed in the summer, but its finalization was delayed after Wall Street executives, including Corzine personally, lobbied against it.”(Pete Schroeder, “The Spectacular Fall Of ‘Key Man’ Corzine,” The Hill, 12/6/11)
Corzine Lobbied Personally On MF Global’s Behalf. “While other financial firms employed teams of lobbyists to fight the new regulation, MF Global’s chief executive in meetings over the last year personally pressed regulators to halt their plans.” (Azam Ahmed And Ben Protess, “As Regulators Pressed Changes, Corzine Pushed Back, And Won,” The New York Times’ Dealbook,” 11/3/11)
Corzine’s “Aggressive Lobbying Campaign” Delayed The Rule From Taking Effect. “Mr. Corzine’s efforts culminated on July 20, as MF Global executives were on four different calls with the agency’s staff. Mr. Corzine personally participated in two of those calls. Ultimately, the aggressive lobbying campaign helped delay the proposal.” (Ben Protess, “Regulator Approves ‘MF Global Rule,’” The New York Times’ Dealbook,” 12/5/11)
Corzine Argued That The Rule Would Be Aimed At Fixing “Something That Is Not Broken.”  “The rules were unnecessary, Mr. Corzine said, because federal laws already prevented brokerage firms from mixing client money with company funds. In a letter, MF Global insisted to regulators that they were trying to ‘fix something that is not broken.’” (Ben Protess, “Regulator Approves ‘MF Global Rule,’” The New York Times’ Dealbook,” 12/5/11)
“The Agency Proposing The Rule, The Commodity Futures Trading Commission, Relented.” (Azam Ahmed And Ben Protess, “As Regulators Pressed Changes, Corzine Pushed Back, And Won,” The New York Times’ Dealbook,” 11/3/11)
The CFTC’s Chairman Is Gary Gensler, Who Worked For Corzine When They Worked At Goldman Sachs. “Leading the government’s effort to curtail these arcane practices was Gary Gensler, the chairman of C.F.T.C., who had worked for Mr. Corzine at Goldman Sachs. Mr. Gensler pushed for the proposed change in October 2010, and planned to bring it to a vote this summer.” (Azam Ahmed And Ben Protess, “As Regulators Pressed Changes, Corzine Pushed Back, And Won,” The New York Times’ Dealbook,” 11/3/11)
  • “Both Men Are Active Democrats, And Served On Financial Panels Together Recently.” (Azam Ahmed And Ben Protess, “As Regulators Pressed Changes, Corzine Pushed Back, And Won,” The New York Times’ Dealbook,” 11/3/11)
OBAMA RHETORIC: “BALANCE AND FAIRNESS”
Obama: “Ever since, there has been a raging debate over the best way to restore growth and prosperity; balance and fairness.” (President Barack Obama, Speech, Osawatomie, KS, 12/6/11)
FACT CHECK: What Happened To The Past Three Years Under Obama’s Presidency?
Obama 2008: “But we need to do even more to restore fairness and balance to our economy.” (Senator Barack Obama, “Reclaiming The American Dream,” El Dorado, Kansas, 1/29/08)
OBAMA RHETORIC: 2001 AND 2003 TAX CUTS
Obama: “Remember that in those years, in 2001 and 2003, Congress passed two of the most expensive tax cuts for the wealthy in history, and what did they get us? The slowest job growth in half a century.” (President Barack Obama, Speech, Osawatomie, KS, 12/6/11)
FACT CHECK: Obama RENEWED The Bush Tax Cuts In 2010, Flip Flopping On His Own Position From ‘08
FLIP: In 2008, Obama Promised To End The Bush Tax Cuts For Top Earners. Obama:“And to pay for that, we're going to have to roll back the Bush tax cuts on the top two percent. And they can afford it. I can afford it. As the fact of the matter is we didn't need it and weren't even asking for it.” (Sen. Barack Obama, Remarks At Jefferson-Jackson Dinner, Indianapolis, IN, 5/4/08)
FLOP: Obama Extended The 2001 And 2003 Tax Cuts.” “President Obama on Tuesday forcefully defended the deal his administration has struck with Republicans to temporarily extend Bush-era tax cuts for all income levels, saying the concessions - some of which have infuriated liberals - are necessary to avoid a tax increase for nearly all Americans at year's end.” (Perry Bacon Jr., “Obama Defends White House Deal With GOP On Tax Cuts,” The Washington Post, 12/7/10)
OBAMA RHETORIC: “MASSIVE DEFICITS”

Obama: “Massive deficits that have made it much harder to pay for the investments that built this country and provided the basic security that helped millions of Americans reach and stay in the middle class – things like education and infrastructure; science and technology; Medicare and Social Security.” (President Barack Obama, Speech, Osawatomie, KS, 12/6/11)
FACT CHECK: Obama Has Had Three Record-Setting Trillion Dollar Plus Deficits And Failed To Cut The Deficit In Half
Obama Pledged To Cut The Deficit In Half By The End Of His First Term. OBAMA:And that's why today I'm pledging to cut the deficit we inherited by half by the end of my first term in office.” (President Barack Obama, Remarks At The Fiscal Responsibility Summit, Washington, D.C., 2/23/09)
  • “President Barack Obama Plans To Cut The U.S. Budget Deficit To $533 Billion By The End Of His First Term …” (Hans Nichols, “Obama Plans To Reduce Budget Deficit To $533 Billion By 2013,” Bloomberg, 2/21/09)
  • One White House Official Told Politico “We’ll Cut It At Least In Half.” “Under White House projections, this year’s inherited budget deficit of $1.3 trillion will be cut to $533 billion by fiscal year 2013, the end of the first term. ‘So we’ll cut it at least in half,’ the official said.” (Mike Allen, “Obama Vows To Cut Huge Deficit In Half,” Politico, 2/22/09)
FAIL: Even If Every Part Of Obama’s Deficit Reduction Proposal Was Enacted, The Deficit At The End Of His First Term Would Still Be $1.33 Trillion, Over Double What He Promised. (“The President’s Plan For Economic Growth And Deficit Reduction; Table S-3,” Office Of Management And Budget, 9/19/11)
  • 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)
President Obama Has Racked Up The Three Largest Deficits In U.S. History. “The U.S budget deficit for fiscal year 2011 is $1.299 trillion, the second largest shortfall in history. The nation only ran a larger deficit for the 2009 fiscal year, which included the dramatic collapse of financial markets and a huge bailout effort by the government.” (Erik Wasson, “Treasury Announces 2011 Deficit Is Second Highest In History,” The Hill’s “On The Money”, 10/14/11)
  • FY2009: The Federal Budget Deficit Was $1.413 Trillion, The Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
  • FY2011: The Federal Budget Deficit Was $1.299 Trillion, The Second Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
  • FY2010: The Federal Budget Deficit Was $1.294 Trillion, The Third Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
OBAMA RHETORIC: COST OF HEALTHCARE
Obama: “Remember that in those years, thanks to some of the same folks who are running Congress now, we had weak regulation and little oversight, and what did that get us? Insurance companies that jacked up people’s premiums with impunity, and denied care to the patients who were sick. Mortgage lenders that tricked families into buying homes they couldn’t afford.” (President Barack Obama, Speech, Osawatomie, KS, 12/6/11)
FACT CHECK:  Cost Of Healthcare Premiums Have INCREASED Even With ObamaCare
“The Cost Of Health Insurance Skyrocketed In 2011 After Several Years Of Relatively Small Increases.” (Jane M. Von Bergen, “Health Insurance Costs Skyrocketing,” The Philadelphia Inquirer, 9/27/11)
Spending On Health Coverage For Workers “Spiked” By 9 Percent In 2011. “Employers' spending on health coverage for workers spiked abruptly this year, with the average cost of a family plan rising by 9 percent, triple the growth seen in 2010.” (Julie Appleby, “Cost Of Employer Insurance Plans Surge In 2011,” Kaiser Health News, 9/27/11)
Workers Paid An Average Of $132 More For Family Coverage This Year. “Although premiums rose, employers kept the percentage of the premium workers pay about the same: An average of 18 percent for single coverage and 28 percent for family plans. Still, with rising costs, workers paid more, up an average of $132 a year for family coverage. Since 1999, the dollar amount workers contribute toward premiums nationally has grown 168 percent, while their wages have grown by 50 percent, according to the survey.” (Julie Appleby, “Cost Of Employer Insurance Plans Surge In 2011,” Kaiser Health News, 9/27/11)
·         Cost Of Single Employee Coverage Grew 8 Percent According To The Survey. “Family plan premiums hit $15,073 on average, while coverage for single employees grew 8 percent to $5,429, according to a survey released Tuesday by the Kaiser Family Foundation and the Health Research & Educational Trust. (KHN is an editorially-independent program of the foundation.)” (Julie Appleby, “Cost Of Employer Insurance Plans Surge In 2011,” Kaiser Health News, 9/27/11)
OBAMA RHETORIC: POVERTY IN AMERICA
Obama: “It’s heartbreaking enough that there are millions of working families in this country who are now forced to take their children to food banks for a decent meal.” (President Barack Obama, Speech, Osawatomie, KS, 12/6/11)
FACT CHECK:  Record High Number Of Americans Under Obama Going To Food Banks
Nearly 49 Million Families Could Not Afford Adequate Food In 2010, “One Of The Highest Numbers Recorded In Recent History.” “In 2010, nearly 49 million people could not afford adequate food, according to the U.S. Department of Agriculture. That’s one in seven households, one of the highest numbers recorded in recent history.” (Huma Khan, “Federal Government, Charities Struggle To Combat Hunger,” ABC News, 11/23/11)
  • “Even Once Well-To-Do Families Who Were Donors Are Now Finding Themselves Turning To Food Banks For Help.” (Huma Khan, “Federal Government, Charities Struggle To Combat Hunger,” ABC News, 11/23/11)
“The Face Of Hunger In America Is Changing. It’s A Little More Ex-Middle Class, A Little More Desperate…” “The face of hunger in America is changing. It’s a little more ex-middle class, a little more desperate and there are a lot more mouths to feed, people who run the nation's food banks say.  ‘We’re seeing a lot more families, many who are running out of money and benefits because of long-term unemployment,’ said Bill Clark, executive director of food bank Philabundance.” (Eve Tahmincioglu, “Lingering Joblessness Taxes Nation’s Food Banks,” MSNBC’s “The Bottom Line,” 12/1/11)
“The Emptying Of Food Banks Is Another Indicator Of The Depth Of The Recession And Its Long Term Impacts.” “’The emptying of food banks is another indicator of the depth of the recession and its long term impacts,’ said Jerry McElroy, economics professor with Saint Mary’s College in Notre Dame, Ind., who has been watching the food bank crisis and blames a big part of it on long-term unemployment. ‘I was astounded looking at the food bank situation. It’s a national phenomenon across almost every state in the union.’” (Eve Tahmincioglu, “Lingering Joblessness Taxes Nation’s Food Banks,” MSNBC’s “The Bottom Line,” 12/1/11)
  • “We Have Experienced Many Individuals For The First Time -- People Who Never Thought They’d Need Help.”And the food bank clientele is also changing, she said, from people who’ve been teetering on poverty in low-wage jobs, to professionals who were solidly middle class. ‘We have experienced many individuals for the first time -- people who never thought they’d need help,’ she said.” (Eve Tahmincioglu, “Lingering Joblessness Taxes Nation’s Food Banks,” MSNBC’s “The Bottom Line,” 12/1/11)