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"Just like we’ve tried their plan, we tried our plan — and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.” - President Barack Obama, in Oakland.
Obama says his economic plan has worked. Let's examine that claim.
We'll start with jobs.
Here's a Bureau Of Labor Statistics graph illustrating the percentage of our workforce that is actually working:
Here's a Bureau Of Labor Statistics graph illustrating the ratio of employment to our population:
Thus, when Obama says his plan "worked", he must not mean worked as in "people going to work". Democrats point out that Obama has created 4.5 million jobs, by cherry picking the statistics to include only the last 29 months. Republicans counter by saying Obama has created "no net jobs", by looking at total jobs created since Obama took office. That discounts the recession Obama inherited. While both Democrats and Republicans are partially right and partially wrong here, engaging in typical partisan gamesmanship, the data from the graphs above show there has been no jobs recovery during Obama's term. We lost tons of jobs during the recession and then bottomed out when it ended. We have remained bottomed out ever since. The jobs created under Obama over the last 29 months have barely kept up with population growth, if at all (the second graph illustrates this clearly).
Maybe Obama meant his plan has worked in some other way, aside from jobs recovery.
Let's look at wages. The next graph shows the wages of non-supervisory workers. These are the working class people Obama claims he's helping:
Median wages have dropped by over $4,000 since Obama became President. We not only have a lot fewer people working, the ones that are working are being paid much less.
Hmmm. If Obama's plan isn't working for jobs and wages, where might it be "working" ?
Maybe Obama is getting the nation's fiscal house back in order ??? Let's see. Here's a graph of our federal debt trajectory:
Obama, the 44th President in our nation's history, has run up a record $5.4 trillion in debt in under four years, and will add about $6 trillion to the debt during his first term. That's more than the first 42 Presidents COMBINED. So much for getting our nation's fiscal house in order. Obama is doing just the opposite. In spite of these facts, both Obama and Biden ludicrously attempted to paint the President as being fiscally responsible at the Democratic National Convention, by saying Obama has a plan to "cut the deficit by $4 trillion". What they didn't tell you is, Obama's so-called "plan" actually INCREASES the debt by trillions of dollars more, and it NEVER balances the budget.
It's the combination of the above graphs that stuns me. There's been no jobs recovery or wages recovery despite Obama spending between $1.2-$1.6 trillion more than he has every single year. Is there anything that could possibly point to Obama's incompetence more than that ??? Obama couldn't even manufacture an artificial, temporary, debt-fueled recovery. And the kicker is, he blames it on the Republicans for not giving him even more money to spend. It's outrageous.
In conclusion, if Obama really thinks his plan has worked...I can think of no better reason NOT to re-elect him. The man is clearly delusional.