Obama’s Five Phony Economic Claims

In the latest debate and on the campaign trail, Barack Obama has been making five economic claims  that even when taken in the most charitable light cannot possibly be true. Investor’s Business Daily has now produced this handy chart debunking them:

Obama-Economic-ChartFull details can be found here.

(H/t Lonely Conservative)

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One Response to Obama’s Five Phony Economic Claims

  1. “Bush tax cuts didn’t cause the recession”

    I’m curious… who has ever said that?

    “…or massive deficits”

    Well actually they did. They were actually one of the 4 largest contributors to the national debt we have today.

    “Obama didn’t stop a second depression”

    Well according to January 2010 congressional testimony the ““… aggressive action by the Federal Reserve and the fiscal stimulus package helped moderate the severity of the recession and shorten its duration…” .
    Given this assessment by the nonpartisan Congressional Budget Office states these actions tempered the recession, it’s not much of a logical conclusion that had those actions NOT been taken, then a depression was indeed likely and was halted by said actions.

    “Obama’s policies aren’t working.”

    Well apparently his policies are working seeing how we’ve gone from 0.4% GDP growth rate in March 2011 to 3% by Q4 2011 and a recovery of ALL jobs lost under Obama’s presidency (due primarily to the last months of the Great Recession) and then some and 33 months of private sector job growth it seems his policies are doing well.

    “A slow recovery wasn’t inevitable”

    Well actually it was given the increasingly slower rates of recovery since the 1980’s. This also include the jobless recovery under GW Bush in 2000-01.

    “Every president has done better than Obama.”

    Please note the “post-war recovery” here. The comparison is being made with recoveries from recession of much less severity than this one. The ONLY comparison that can be honestly be made is the recovery from the Depression since this recession was the worst crisis since that one. When compared accurately, this “every president has done better” claim becomes much less credible.

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