Since the moment he came into office, President Obama has pursued the same failed liberal policies that extended the Great Depression, instituted the socially corrosive Great Society programs, and has grown government beyond America’s ability to afford it. Estimates of the U.S. long-term unfunded liabilities range from $87 trillion to an astounding $211 trillion.
One of the first measures Obama undertook was passing an ultimately $812 billion “stimulus” program. After glibly admitting that ‘shovel-ready (jobs) was not as shovel-ready as we expected,’ the U.S. is still far off the jobs trajectory projected by his advisers; while it was presumed the U.S. would be near 5% unemployment, we are at 7.3% — and that’s with millions dropping out of the workforce.
Instead of focusing on generating jobs and growing the productive economy, President Obama decided to work with the Democrat Congress to force through a trillion-dollar boondoggle known as ObamaCare against the objections of the majority of Americans.
President Obama said in an ABC News interview in 2009 that if Congress did not pass health care legislation that brought down costs, the federal government “will go bankrupt.” The ten-year cost estimate since then has tripled from $900 billion to nearly $2.7 trillion, and the GAO estimates the program will add $6.2 trillion in debt liability.
The Poverty President: How Obama's Economic Policies are a Disaster | Independent Journal Review
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