Tuesday, January 24, 2012

The State of the Union 2012 Predictions

Americans watching tonight's State of the Union address will likely walkaway thinking things in this country are absolutely great after hearing President Obama's speech, that is until they return to their daily lives and see the truth at the gas pump, on their grocery receipt, and in the unemployment lines.  President Obama is poised to take credit for a whole host of fictional economic data and even some policies he had nothing to do with.

What he'll say: "Under my presidency, the economy has added 3.2 million new private sector jobs."

The Truth:  When Obama took office the unemployment rate was 7.7%.  Today, the unemployment rate is 8.5% having reached a high of 10.2% after congress passed a $1 trillion dollar stimulus package the President said would insure the unemployment rate never surpassed 8%.  If the workforce or the number of people who were working or looking for employment were the same today as it was when Obama took office, the real unemployment rate would be 10.9%.

What he'll say:  "I've agreed to cut $2 trillion dollars from the deficit."

The Truth:  When Bush took office, the national debt was $5.73 trillion. When he left, it was $10.7 trillion. That's a difference of $4.97 trillion in 8 years. When Obama took office, the national debt was $10.7 trillion, today it is $15.2 trillion. That's a difference of $4.5 trillion in just 3 years and just a couple of weeks ago Obama asked for another $1.2 trillion.

What he'll say: "Thanks to me, American oil production is the highest its been in eight years."

The Truth:  The House Natural Resources Committee reports the Obama administration is attempting to take credit for policies enacted under his predecessor [1].  In fact, the number of onshore oil leases granted by the Obama administration is the lowest it's been in over two decades.  As for offshore drilling in the gulf, thanks to a moratorium put into affect by the Obama administration oil production fell by 300,000 barrels per day, a total projected decline of more than 120 million barrels of oil through 2012.  On top of that, President Obama killed the Keystone pipeline project which would have further lessened the country's dependence on foreign oil and created more than 20,000 high paying, mostly union jobs and an estimated 100,000 new spin-off jobs.

What he'll say: "My foreign policy is a success. For the first time in nine years, there are no Americans fighting in Iraq."

The Truth:  In August, 2008, then President George W. Bush and Iraqi negotiators agreed to a complete withdrawal of all U.S. combat troops by the end of 2011 [2].  Still, more than 16,000 Americans remain in Iraq, a number which includes troops, security contractors, and State Department workers.

What he'll say: "Whats at stake is the very survival of the basic American promise that if you work hard, you can do well enough to raise a family, own a home, and put a little away for retirement."

The Truth:  There has never been an "American promise".  The American Dream is the idea that every American has the CHANCE to achieve success and prosperity.  In the United States no one is entitled to a home, a retirement, or anything else they haven't earned through the sweat equity of their labor.  In fact, under President Obama the American Dream is becoming even harder to attain.  Price of gas has jumped 83%, ground beef 24%, and bacon 22% just to name a few of the everyday expenses the average American is struggling to afford under Obama's America which has seen a record number of Americans become dependent on welfare programs like food stamps just to get by [3].

Unfortunately for us, the State of our Union is anything but strong.

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