Obama’s Big Ad Lie
Obama has a new ad out that is supposed to explain how he plans on fixing the economy. This ad is so embarrassing that anyone with at least a little bit of intelligence doesn’t need to wait for the talking heads from the right to defeat it. It contains ideas that Obama’s own record along with even a miniscule amount of logic can easily defeat. The four main points of the ad are as follows: tax the rich more while befriending the middle class, create 1 million new jobs in manufacturing, lower our debt by $4 Trillion, and enhance domestic energy production (including renewable sources). So let’s take a quick look at each of these ideas through the prism of what we’ve already witnessed from his first 4 years.
Obama thinks that by playing the class warfare game he can somehow defy simple math and create a utopian society of equality. Here’s the reality of his math. Even by the best estimates of his own people the new tax rates that he’s proposing would at most raise a mere $80 Billion. The deficit alone is estimated at $1.2 Trillion excluding the cost of Obamacare. According to the CBO the bulk of the new tax burdens of Obamacare will be felt by the very same middle class he is promising to protect. So how has Obama done so far in protecting the middle class? Well, in his first 4 years their average income has dropped by almost $4,000 annually and their net wealth has dropped by an astounding 40%. With friends like that, who needs enemies?
Obama is claiming that he can miraculously create an additional 1 million manufacturing jobs. The simplest question here is that if this is true than why hasn’t he already done so? The reality of why we are losing manufacturing jobs in this country isn’t rocket science, once again it’s simple math. The cost of production in this country is outrageous compared to doing the same production in other countries. If you are a business owner and plan on staying in business by remaining competitive you have no choice but to take the option which minimizes cost as much as possible. With Obama pushing unions down our throats along with elevated minimum wage laws there is simply no way for domestic labor to continue competing. He may think that moving jobs overseas is unpatriotic, but so is bankrupting companies that try to remain here.
The next point from Obama is completely laughable to the point where one has to wonder if he came up with it while he was perhaps doing another line of the same drugs he did back in college. In 2008 Obama claimed he was going to cut the deficit by half. What we witnessed instead was our national debt skyrocketing from just over $10 Trillion to where it is now over $16 Trillion and counting. Not only has none of his past budget proposals to date included any such fantasies about debt reduction, but in a recent interview he stated that he didn’t even think the debt was that big of a deal.
Obama’s final point is equally as laughable as his debt point. He somehow attempted to claim with a straight face that he seeks to promote more domestic energy production of things like coal and gas while also advancing renewables. He said this while at the same time he has declared a war on coal, has done everything within his power to curtail fracking for both gas and oil, has curtailed domestic oil permits (the ones he is attempting to take credit for were mostly signed under Bush), has killed the pipeline to Canada, and has attempted to pick the winners and (mostly losers) by publicly funding renewables. Apparently we haven’t quite wasted enough money on his bundling buddies from companies like Solyndra yet.
We are about to start the debate cycle on Wednesday and it is with all sincerity that I hope he tries to make these same claims during questioning. If Romney is even halfway intelligent he won’t waste his time attempting to defend any proposals of his own or his past record as governor or of Bain Capital. After all, Obama has already set the narrative via questioning of Romney’s qualifications by stating that being president is quite different than either of those two positions. Instead, Romney should commit 100% of his time to forcing Obama to defend his own record that is beyond dismal. Any kind of feel good fantasy statements that Obama attempts to make about the fixing of our economy now should be met with the simple question of asking why after 4 years he hasn’t already done so.