And Now For Something Really Important

And Now For Something Really Important

Neal Boortz
June 7, 2011

How many times can the Obama administration claim success for something only to find out later that it all depends on what your definition of “success” is. Let’s take a look at a few examples, shall we? Now do a bit of extra work here and click on some of these links to get the full story on what a complete fraud our Dear Ruler is.

Deficit
Do you remember the Obama administration’s $2 trillion oops? Back in 2009, the Obama administration presented his budget and deficit projections, which turned out to be inaccurate … turns out that PrezBo’s budget would incur $9.3 trillion in federal deficits between 2010 and 2019 -- $2.3 trillion higher than Obama had originally claimed.

Spending
The current Obama administration would have you believe that it is all George Bush’s fault, but under Barack Obama and a Democrat supermajority in Congress, federal spending increased from 21% to 25% of GDP. Obama has doubled the deficit since he took office. Hardly Bush’s fault.

Obamacare
We learned after passing ObamaCare that the Obama administration got its figures wrong … by about $115 billion. The Congressional Budget Office determined that it would cost $115 billion more than previously thought, bringing the total cost to more than $1 trillion. And remember that line that Obama used, "If you like your health care plan, you can keep your health care plan?” That has also turned out to be a bunch of horsesqueeze. According to a study published in McKinsey Quarterly, 30% of companies say they’ll stop offering health plans once ObamaCare goes into effect in 2014. Oops! However, I firmly believe that this is what Obama and the Democrats wanted all along … to stifle the private marketplace and force people into alternative health plans, particularly government-sponsored health plans.

Fannie, Freddie and Foreclosure
Looks like the bailout of Fannie and Freddie are going to cost us more than the Obama administration is letting on. The Congressional Budget Office says that the real cost of bailing out Fannie and Freddie will be $317 billion, not the $130 billion as claimed by the Obama administration. And what ever came of Obama’s main foreclosure-prevention program HAMP? “It has failed and it has failed miserably,” said Representative Jackie Speier, a California Democrat, said at a House Oversight and Government Reform committee hearing on the Home Affordable Modification Program. So now what’s Obama’s solution? “The administration is trying through taxpayer-funded programs to prevent homeowners from losing their homes. Nearly $50 billion has been set aside from the $700 billion bank bailout known as the Troubled Asset Relief Program, or TARP, to help distressed homeowners.” No, I’m not kidding, folks.

Auto bailout
Barack Obama is doing everything he can to paint his bailout of the auto industry as a success … but clearly there is more to this story. This article from the Wall Street Journal should just about sum it up: The Real Cost of the Auto Bailouts. You can’t put a price on the government’s disruption of the rule of law … even if you are Barack Obama who had to “step down” in order to become our dear President.

Stimulus
Obama’s grand economic stimulus plan was a miserable failure. It was also a failure that cost us more than he claimed it would! The Congressional Budget Office says that price tag has risen to $830 billion — or more than $40 billion more than first projected. Only $40 billion? Oops! Just to put it in perspective, the House found themselves incapable of supporting a 10% across the board budget cut, which would have amounted to $4 billion. So the difference in the cost of spending on Obama’s stimulus plan is ten times larger than the cuts that the House can’t even manage to support.