President Obama’s rhetoric about a recession he “inherited” cannot disguise the fact the economy’s performance since his inauguration has only gotten worse. Despite campaign pledges of fiscal responsibility and job creation, his early achievements, including an $800 billion stimulus bill, have resulted in rapidly growing debt combined with rising unemployment.
Taken together, these figures define the effect of the President’s policies to date – revealing not only their failure to deliver jobs for today’s workers, but an even larger government tab for our children and grandchildren to pay. Already the increase in unemployment and debt on President Obama’s watch is a stunning 40.6% — the current “Obama Misery Index” actually felt by the American people. After Vice President Biden’s recent claim that the government needs to spend more money to keep from going bankrupt, Congressional Budget Office Director Douglas Elmendorf’s analysis that the trillion-and-a-half dollar Democrat health care bill will simply add to the country’s budget problems, and a national energy tax that will shrink the economy and leave millions without jobs; this measure may only worsen in the months ahead.
Click on the video to view Ranking Member Camp highlighting the
OMI on the House Floor earlier today: