Friday, June 01, 2012

Obama's Epic Fail: No More Excuses. The Bad Economy and Rise in Unemployment is HIS FAULT!

In his own words, he had three years to fix the problem and he failed. That means he's a one termer!

Friday's bad employment number was just the latest in bad economic news. See below for more on Obama's epic fail.

The unemployment rate went back up to 8.2% after only 69,000 jobs were created. 80,000 fewer than predicted. Match that with a revision to March and April numbers which were overstated by 49,000 jobs. The only thing that is saving Obama from a total meltdown is the fact that so many people have given up looking for work. If the Labor Participation Rate was the same as when Obama took office the unemployment rate today would be 10.9%.

In between a record six fundraisers on Friday (that's what he does best) Obama is out there blaming George Bush and the Republicans. I won't repeat what he said. You've heard it all before. The man who said "I'm not going to make any excuses" has an endless assortment of excuses. It's never his fault.

Yet we can point back to the initial projections of the Obama Administration when it came into office in 2009. They said, give us what we want with the Stimulus Bill and unemployment will not go above 8%. By now unemployment was supposed to be 5.7%. Here's the famous chart which compares Obama's economic projection to reality:
The problem is that  much of the Stimulus money did not go to "shovel ready jobs" (what a joke) it went to Obama's big campaign contributors and the Big Labor unions. Even Democrats refused to go along with more of that kind of corrupt and wasteful spending.

The fact is that Obama failed to meet his own standards for success and admitted that he will be held accountable. In November we have the chance to elect a leader who puts average Americans ahead of the corruptocrats who have looted the Treasury for billions while the millions of Americans remain out of work are being asked to foot the bill!

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