Obama's Record Speaks For Itself

In the real world when a new leader takes over in a turn-around situation he has about 3 months to blame the former administration. Most do not even do that but take the high road and get on with the task at hand. Within 6 months the new leader is expected to have a specific identified plan, with ongoing visible tracking in place. After 1 year the new administrator "owns" the situation and should show significant progress gained toward the turn-around goals. If the new administrator does not accomplish this, he is fired. This is the real world.

On President Obama's Inauguration Day the National Debt was $10.626 trillion. It is currently $14.410 trillion, an increase of $3.784 trillion in his 3rd year in office. His own administration projected that the debt would reach $16.5 trillion in his fourth year, or an increase of $5.9 trillion in debt. His current budget is $3.73 trillion, the largest in history. Built into that budget is a $1.7 trillion deficit, the largest deficit in history. This coupled with interest on the National Debt of over $400 billion per year will guarantee a National Debt of well over $16.5 trillion. Further, the 2012 budget depends on built in tax increases. Currently $1.16 trillion of our National Debt is held by China, a Communist dictatorship.

When Obama presented his Stimulus package he promised unemployment under 8%, even under 7%. Yet according to the Bureau of Labor Statistics, since the passing of the Stimulus, 1.8 million jobs have been lost, 1.3 million in the private sector. In addition, 989,000 people have given up looking for work. Still further, several million people have taken lesser jobs in order to survive. The most recent unemployment rate has been reported as 9.1 %. It goes without saying that Obama's Stimulus is a complete failure.

According to the Case-Schiller Index, the housing crisis has reached double-dip. Data showed that the US National Home Price Index fell 4.2% during the first quarter of 2011, following a previous quarter fall of 3.6%. More than 28% of homeowners are "underwater" on their mortgages with 2.9 million losing their homes to foreclosure in the last year alone. Correspondingly, home prices have plummeted.

America’s balance of trade with China, Mexico, Japan and Germany plummeted more than $10 billion into the red during the first quarter of 2011, according to new figures from the U.S. Bureau of Economic Analysis.The worst imbalance is with China. The resulting U.S. trade deficit with China is $60.20 billion in the first quarter of 2011 alone. The next largest American deficits for the quarter were $16.33 billion with Mexico, $16.28 billion with Japan, $11.00 billion with Germany and $9.63 billion with Canada. This is all after Obama promised to "increase our exports".

All this is just a sampling of facts on the economy since President Obama has been in office. He now "owns" the economy. In the real world Obama would have been fired long ago.