From a speech delivered yesterday by Mitt Romney.
Since Barack Obama became President, over 800,000 Americans have lost their jobs.
Millions of Americans spent longer looking for a job than ever before. Long-term unemployment is the worst since the Great Depression.
Over 46 million Americans are now living in poverty, more than ever before in our nation’s history. In households with single moms, over 30% are living in poverty.
Forty-six and a half million Americans are now on food stamps, another record.
2.8 million homes have been foreclosed on
New business startups are at the lowest level in 30 years.
Over 2,000 Chrysler and GM dealerships have closed and 22 automobile manufacturing plants have been shuttered or idled.
Our yearly budget deficits are soaring and our national debt now stands at an all-time high. Barack Obama presided over the first trillion-dollar deficit in American history. And he has repeated this dreadful distinction for each year he has been in office.
For the first time since World War II, our national debt is greater than the size of our entire economy. Each American’s share of the national debt stands at $50,000.
President Obama did not cause the recession, but he most certainly failed to lead the recovery. His stimulus protected the government, not the people. It was promised to hold unemployment below eight percent. It did not. Barack Obama’s stimulus was as ineffective as it was expensive.
His Obamacare didn’t help create jobs either. It discouraged small businesses and health companies from hiring new workers. And Dodd-Frank hurt the community banks that provide loans to small businesses. But the “Too Big To Fail” banks are even bigger today.
He failed to deliver on jobs, but on his goal to raise energy prices, he sure came through. All in all, President Obama prolonged the recession and slowed the recovery. His economic strategy is a bust.
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