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Debates are forums for signaling how you will govern, laying out ideas for change, and putting your policies up for review. By that standard, President Obama's time actually running the country have borne little resemblance to his 2008 rhetoric.
1) We Need to Reduce Our Debt to China:
"[W]e've got challenges, for example, with China, where we are borrowing billions of dollars," Obama announced in 2008. "They now hold a trillion dollars' worth of our debt."
How did Obama address the supposed problem of a trillion dollars in Chinese-held debt? As of the most recent Treasury Department report, China held $1.1 trillion of U.S. public debt.
2) Incredible Shrinking TARP Repayments:
"[W]e've got to make sure that taxpayers, when they are putting their money at risk, have the possibility of getting that money back and gains, if the marketand when the market returns."
So has all that suffering at least allowed taxpayers to collect from firms that received funds from the Troubled Asset Relief Program (TARP)?
Big no. While plenty of useful pundits have claimed TARP is being paid back with interest, the repayment actually follows a funny sliding-scale pattern: Every month or so you hear a figure about TARP profit, then a few months later you get a new figure that's lower than the earlier figure. Actual repayment has been limited almost entirely to the too-big-to-fail banks, which have gotten bigger and failier since 2008. There is little prospect that taxpayers will ever be repaid in full, let alone with interest.
3) Incredible Expanding TARP CEO Pay:
"We've got to make sure that none of that money is going to pad CEO bank accounts or to promote golden parachutes."
How did it work out? CNN reported earlier this year:
[A] watchdog over the $700 billion Troubled Asset Relief Program found that the special pay czar Kenneth Feinberg -- whose job it was to cut pay -- failed to "effectively" rein in executive compensation.
Feinberg tried to shift CEO pay away from large cash salaries and toward stock tied to company performance. But he still approved multimillion-dollar compensation packages for many of the top 25 bank CEOs, the report said.
4) Helping Ordinary Americans' Balance Sheets:
"[T]he nurse, the teacher, the police officer frankly, at the end of each month, they've got a little financial crisis going on. They're having to take out extra debt just to make their mortgage payments. We haven't been paying attention to them."
Obama has certainly been paying attention to the unionized employees he mentioned in 2008, in all ways but one: He has not done anything to help them, or any other Americans, avoid taking on more debt. A spike in personal savings rates that began late in the Bush administration has meandered downward throughout the Obama era, from a high above 6 percent to a mere 3.7 percent in August (the most recent month for which the Bureau of Economic Analysis [pdf] has figures)....But his administration has continued to spin new fictions of fiscal responsibility, with Treasury Secretary Geithner repeatedly claiming that personal savings rates are higher than they were under President George W. Bush.
5) Keeping 12 Million (no wait) 9 Million (no wait) 4 Million (no wait) Maybe a Million People In Their Homes:
"[W]e've got to make sure that we're helping homeowners, because the root problem here has to do with the foreclosures that are taking place all across the country."
Where mortgage servicers had issued no-doc mortgages before the crash, Treasury allowed them to issue no-doc mortgage modifications after the crash.
And, surprise! The program was a complete failure. Of the 1.3 million mortgages modified by HAMP through June 2010, only 43 percent were converted to permanent modifications. Treasury did start requiring verified income documentation after that date, but the final numbers are not impressive either. As of June 2012, only 1 million mortgages had been permanently modified, far less than the 4 million Obama had promised.
6) Stop Shipping Jobs Overseas:
"What I do is I close corporate loopholes, stop providing tax cuts to corporations that are shipping jobs overseas so that we're giving tax breaks to companies that are investing here in the United States."
Vice President Joseph Biden heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the company's manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland.
Thanks to President Obama, taxpayer money, mostly in the form of stimulus funds, ended up in the hands of companies overseas. Instead of creating jobs in America, the stimulus and other Obama policies created jobs or sent money to Finland, New Zealand, Indonesia, India, Mexico, Germany, Australia, Switzerland, China, Denmark, South Korea, the Dominican Republic, Thailand, Vietnam, Italy, Russia, Luxembourg, El Salvador, Great Britain, Spain, Japan, and France.
The 6 Biggest Debate Promises Obama Failed to Keep
The 6 Biggest Debate Promises Obama Failed to Keep
Hell.....he could EASILY spend most o' the debate listing everything he tried to accomplish.....only to have "conservatives" REFUSE to allow any discussions.....let-alone any votes!!!!!
Nice job, O. Not.
The 6 Biggest Debate Promises Obama Failed to Keep - Reason.com
regarding the 2008 Presidential debates...
Debates are forums for signaling how you will govern, laying out ideas for change, and putting your policies up for review. By that standard, President Obama's time actually running the country have borne little resemblance to his 2008 rhetoric.
1) We Need to Reduce Our Debt to China:
"[W]e've got challenges, for example, with China, where we are borrowing billions of dollars," Obama announced in 2008. "They now hold a trillion dollars' worth of our debt."
How did Obama address the supposed problem of a trillion dollars in Chinese-held debt? As of the most recent Treasury Department report, China held $1.1 trillion of U.S. public debt.
5) Keeping 12 Million (no wait) 9 Million (no wait) 4 Million (no wait) Maybe a Million People In Their Homes:
"[W]e've got to make sure that we're helping homeowners, because the root problem here has to do with the foreclosures that are taking place all across the country."
Where mortgage servicers had issued no-doc mortgages before the crash, Treasury allowed them to issue no-doc mortgage modifications after the crash.
And, surprise! The program was a complete failure. Of the 1.3 million mortgages modified by HAMP through June 2010, only 43 percent were converted to permanent modifications. Treasury did start requiring verified income documentation after that date, but the final numbers are not impressive either. As of June 2012, only 1 million mortgages had been permanently modified, far less than the 4 million Obama had promised.
6) Stop Shipping Jobs Overseas:
"What I do is I close corporate loopholes, stop providing tax cuts to corporations that are shipping jobs overseas so that we're giving tax breaks to companies that are investing here in the United States."
Vice President Joseph Biden heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the company's manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland.
Thanks to President Obama, taxpayer money, mostly in the form of stimulus funds, ended up in the hands of companies overseas. Instead of creating jobs in America, the stimulus and other Obama policies created jobs or sent money to Finland, New Zealand, Indonesia, India, Mexico, Germany, Australia, Switzerland, China, Denmark, South Korea, the Dominican Republic, Thailand, Vietnam, Italy, Russia, Luxembourg, El Salvador, Great Britain, Spain, Japan, and France.
Hell.....he could EASILY spend most o' the debate listing everything he tried to accomplish.....only to have conservatives REFUSE to allow any discussions.....let-alone any votes!!!!!
Nice job, O. Not.
The 6 Biggest Debate Promises Obama Failed to Keep - Reason.com
regarding the 2008 Presidential debates...
Debates are forums for signaling how you will govern, laying out ideas for change, and putting your policies up for review. By that standard, President Obama's time actually running the country have borne little resemblance to his 2008 rhetoric.
6) Stop Shipping Jobs Overseas:
"What I do is I close corporate loopholes, stop providing tax cuts to corporations that are shipping jobs overseas so that we're giving tax breaks to companies that are investing here in the United States."
Vice President Joseph Biden heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the company's manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland.
Thanks to President Obama, taxpayer money, mostly in the form of stimulus funds, ended up in the hands of companies overseas. Instead of creating jobs in America, the stimulus and other Obama policies created jobs or sent money to Finland, New Zealand, Indonesia, India, Mexico, Germany, Australia, Switzerland, China, Denmark, South Korea, the Dominican Republic, Thailand, Vietnam, Italy, Russia, Luxembourg, El Salvador, Great Britain, Spain, Japan, and France.
Amazing that Obama supporters look at this and simply make excuses.
