In making his case for re-election in the face of historically high unemployment and sluggish growth, President Obama has a simple and straightforward argument.
Things were terrible when I arrived, he says, thanks to Bush-era policies of tax cuts and deregulation. We stopped the decline, but the ditch was so deep that it will take time to get out. Still, we are making progress, even if it isn't as fast as everyone would like.
So the last thing we want to do is return to the failed Bush policies that, he says, drove us into the ditch.
That argument appears to be working. More people continue to blame Bush than Obama for the current poor state of affairs, and some surveys show that consumer confidence has recently increased.
But each part of Obama's argument is based on claims that are not accurate:
• Bush tax cuts and deregulation caused the recession.
At a campaign rally, Obama said Romney is "just churning out the same ideas that we saw in the decade before I took office . . . the same tax cuts and deregulation agenda that helped get us into this mess in the first place."
It's a standard Obama talking point. But it's not true. Bush's tax cuts did not cause the last recession.
In fact, once they were fully in effect in 2003, they sparked stronger growth — generating more than 8 million new jobs over the next four years, and GDP growth averaging close to 3%.
Those tax cuts didn't explode the deficit, either, as Obama frequently claims. Deficits steadily declined after 2003, until the recession hit.
Nor was Bush a deregulator. Conservative Heritage Foundation's regulation expert James Gattuso concluded, after reviewing Bush's record, that "regulation grew substantially during the Bush years."
Even the Washington Post's fact-checker, Glenn Kessler, gave Obama's claim three out of four "Pinocchios," saying "it is time for the Obama campaign to retire this talking point, no matter how much it seems to resonate with voters."
What did cause the economic crisis? The housing bubble. And that, in turn, was the result of a determined federal effort to boost homeownership by, among other things, pressuring banks to lower lending standards.
You conveniently forgot that Bush inherited a surplus from Clinton; spent it, plus plied on over a 100 billion dollar budget deficit. Unemployment was sky rocketing when Obama took office. The tax cuts of 2001 and 2003 apparently did not create more jobs. Plus, our Country entered a war of choice, had our Country attacked because the administration was too busy trying make the case to invade Iraq. These are the facts. So where are the jobs created by the Bush tax cuts which are still in place?
Surge in Women Voting for Mitt Romney for President of USA and Their Reasons
By ladies_4_romney . Oct 24, 2012 2:37 PM
Women Democrat Voters and Others are Switching to Mitt Romney in Ohio Michigan Florida Virginia Pennsylvania Wisconsin New York- New Jersey ( East Coast to West Coast )
The Democrat Ladies for Romney in all 50 States Ladies are Switching from Obama very Fast.
Read this and you too will Change and become a "Romney Democrat" for a Stronger USA Economy and honest leadership.
Women, Jewish Democrats and others are Switching to Mitt Romney for President.
Women Review Debate 3 : First, Governor Mitt Romney Pasted the President Test, Ready to Lead USA. By USA_Jewish_Women 10 22 2012
Great Impression: Mitt Romney's Stunning Turnaround in Past 3 Debates after Huge Negative Ads.
The Reasons for Change is Obama has Lost the Support and Respect with Women Voters and Others.
People Notice: Most Men and Women are Turned Off Against Barack Obama most everywhere and Across All 50 States,
Here is the the Review of Debate 3 on October 22, 2012
By a Jewish Women Focus Group of 7,890 Women Connecticut Across America
Our Strong Plea for Change in the White House, Why? The following reasons listed bellow.
Note: This review is a agreement amongst a Group of almost 8000 Women watching debates.
During the Debate 3, President Barack Obama was Arrogant, Disrespectfully, Angry, Rude and Condescending to Governor Mitt Romney. Obama did not Act or Look Presidential.
We Feel Governor Mitt Romney Pasted the Presidential Test and is Ready to Lead USA
We Support Mitt Romney, found him to be a Smart, Respectable and Decent Gentleman.
Governor Mitt Romney Looked Much More Presidential, Ready to be Commander-in-Chief.
Mitt Romney said America Needs a Strong Economy in order to have a Strong Military for our National Security right now and the Future. ...... We All Agree.
Women came away from this Debate with a Very Good Impression of Governor Mitt Romney, in that he would be a “ A Safe Pair of Hands.” in Foreign Policy and a Strong Economy. We Trust Him More. Obama lied about Libya on 9 11 ( a 8 hour fire fight, Obama watched did nothing)
In Foreign Policy We feel Mitt Romney is Tough Enough to do what’s necessary, but laid-back enough not to do too much and get us into another war.
Miit Romney Did Not attack President Obama's Policies, he Simply Pointed Out a Few Needed Improvements in a Very Respectable Way.
During the debate Governor Mitt Romney Seemed More Like a Leader, Smart, Respectable, Thoughtful and Considerate. He looked and Acted more Like the New American President that our Nation and the rest of the World Needs so Disparately in These Troubling Economic Times.
Governor Mitt Romney was Calm, Thoughtful, Relaxed, Steady, Looked Like A Smart Gentleman and More Presidential.
Romney Looked and Acted as if he was Ready to Take the Job as Commander-in-Chief ASAP.
President Barack Obama Looked more like a Very Disparate Candidate and Challenger, very Negative, Acted like a Disrespectful Attack Dog Instead of the President of the United States.
Mitt Romney Expressed his Concern about Iran's Nuclear Threat that is 4 Years Closer and the USA Support of Israel, our Good Friend and Middle East Ally. The strained relationship with the Obama Administration.
Tonight Romney Impressed the Ladies Very much, in that a Vote for Him is a Vote for American Security, Peace and Safety, a Strong Economy, a Strong Military, Millions of Higher Paying Jobs, Prosperity for the Middle Class and Others. and a Quiet Peaceful Life for USA and all People.
The World is Much to Scary these days, Americans Aren’t Looking For a Scary Arrogant, Angry. Rude, Disrespectfully and Weak President. Barack Obama is Not the One to Lead us Any Longer
Tonight we Came Away with the Feeling that President Barack Obama is extremely a more Scary Candidate then the President of USA.
We are Concerned about America's Weaken Relationship with Israel, a Nuclear Iran, our Weaken Economy and the Huge 16 Trillion Dollars Debt, that in itself Threatens our National Security.
Americans, Black, White, Latinos, Wake Up, USA Debt is Bigger than our Gross National Product.
We Can Not Afford Four More Years of President Obama's Spending, Borrowing and lies.
We Can Not Afford Another 5 or 6 Trillion Dollars in More Debt From China or Other Countries.
Our Jewish Women's Focus Group of almost 8000 Democrats Therefore Proudly Endorse Governor Mitt Romney as the Next President of the United States of America.
Vote for Mitt Romney and Paul Ryan Before It's to Late. Do it Now ....ASAP
Public Notice: We Feel Strongly that President Barack Obama is No Longer Fit to Lead USA.
Mitt Romney is not performing strongly enough with white and male voters to offset the big Obama advantages with young people, women, and African-Americans.
Disastrous News for the GOP as Obama Leads Romney in Three New Ohio Polls
By: Jason EasleyOctober 24th, 2012
Three new polls of the critical swing state of Ohio all agree. Barack Obama is currently leading Mitt Romney in the Buckeye State.
Obama leads Romney in the Time poll 49%-44%. Time’s polling also revealed that there are two races going on in Ohio right now. Among voters who haven’t voted yet, the candidates are tied 45%-45%, but President Obama is dominating Romney with early voters 60%-30%. Obama is leading with women 56%-37%, while Romney is leading with men, 51%-42%. Romney is leading with white voters (49-43), while Obama is leading big with young voters and minorities. Romney’s negative message about the economy isn’t working in Ohio, as 54% of those surveyed believed the country is on the wrong track, but 51% also believe that their state is on the right track.
Obama leads Romney 47%-44% in the SurveyUSA poll. Much like the Time poll, Romney leads with men (49%-42%), while Obama holds a double digit lead with women (52%-40%). Obama leads by nine points (49%-40%) with voters age 18-49, and Romney holds a small three point lead (49%-46%) with those over age 50. Romney leads Obama by just 5 points with white voters (49%-44), and the president leads 70%-22% with African-Americans.
A Lake Research poll has Obama leading 46%-44% in Ohio. The poll found that Romney is struggling with men in the state. The Republican leads Obama with men by just a four point margin, 47%-43%. Obama leads Romney with women 49%-41%. Romney’s biggest problem in the state is that more Ohio voters have a negative view (49%) than have a positive view (47%) of him. In contrast, 52% have a favorable view of Obama and 44% have an unfavorable view of the president.
Even Republican pollster Rasmussen has Romney tied with Obama (48%-48%). Rasmussen polls contain a 4 point Republican bias, so when the extra four points are factored in, even the Republican poll is in line with the other three. In total, four new polls of the state of Ohio were released today, and Mitt Romney is leading none of them.
If Obama’s domination of early voting continues, and the candidates split the vote on Election Day, the president will carry Ohio. A key number to pay attention is the amount of the total vote in the state that comes in through early voting. In 2008, 33% of the vote in Ohio was done during early voting. If this percentage is higher in 2012, it bodes well for President Obama.
Mitt Romney is not performing strongly enough with white and male voters to offset the big Obama advantages with young people, women, and African-Americans. Romney can’t split or narrowly win Ohio white voters and men. He will have to beat Obama by double digits to even have a chance of winning the state.
For those of you who are concerned about the voting machines in Ohio, keep in mind that an election has to be close for fraud to have an impact. Election fraud can really only shift a very close contest. A five point lead is too much to be manipulated. People must be vigilant, but the best way to ease election fraud concerns is for President Obama to build up a lead so large in early voting that it can’t be taken away.
The Romney campaign continues to claim that they are gaining ground in Ohio, but as we draw closer to Election Day, Obama’s lead continues to remain at a roughly 3-5 point margin. It becomes difficult to impossible for Romney to win without winning Ohio. The Republican candidate has no choice but to keep competing there; however, it is looking more and more like Mitt Romney is spinning his wheels and getting nowhere fast in Ohio.
• I stopped a second Great Depression.
Another frequent Obama claim is that "we did all the right things to prevent a Great Depression." But this, too, is false.
The economy had pretty much hit bottom by the time Obama took office, and long before his policies were in place. The worst declines in monthly GDP and employment, in fact, occurred before he was even sworn in.
What's more, the recovery officially started less than four months after Obama signed the stimulus into effect, when only a small fraction of the stimulus money was actually in the economy. Plus, other Obama economic interventions came either after the recession had ended — including his GM (GM) bailout — or have been widely judged to be failures.
When economists Alan Blinder and Mark Zandi tried to determine what ended the so-called Great Recession, they said President Bush's TARP program and actions by the Federal Reserve were "substantially more effective" than anything Obama had done.
• My policies are working.
In his recent two-minute campaign ad, Obama claimed that "as a nation we are moving forward again." But while the overall economy has grown somewhat since Obama's recovery started more than three years ago, several other important indicators have actually gone backward.
Median household incomes, for example, have dropped $3,000 — a 5.7% decline — since the Obama recovery started. Income inequality has reached new heights.
There are 659,000 more long-term unemployed than there were in June 2009, and the share of people working has dropped to levels not seen in 30 years, according to the Bureau of Labor Statistics.
Meanwhile, there are 11.8 million more people on food stamps and nearly 2.7 million more in poverty than when the Obama recovery started.
And while Obama likes to tout the fact that 4 million net new jobs have been created since February 2010, what he doesn't say is that most of those are low-wage jobs that replaced better-paying jobs lost during the recession.