Previous Election Debates
Nevada Energy Windmill Program Generates Rebates, Little Electricity
Nevada's Public Utilities Commission apparently ignored a warning from a Reno businessman who told them a year ago that if it didn’t establish at least minimal standards for NV Energy’s wind rebate program, its customers could end up paying for turbines that hardly ever generate electricity.
- Now, a year later, the amount of electricity produced by NV Energy’s multi-million dollar wind rebate program has fallen woefully short of expectations.
- In one case, a wind turbine that cost the city $21,000 to install ended up saving the city all of $4 on its energy bill.
- Not all of the Reno turbines have performed so badly, but overall, the small turbines installed across the state have produced far less power than expected.
More Info: "Nevada Energy Windmill Program Generates Rebates, Little Electricity
Obama Threatens Supreme Court
If anyone had any doubt that President Obama would abandon his brass-knuckle brand of Chicago thuggery in defense of his signature legislation – ObamaCare – it was put to rest at his White House press conference today when he said he was "...confident that the Supreme Court will not take... [the] extraordinary step of overturning a law that was passed by a strong majority of a democratically elected Congress."
- The former Harvard constitutional law professor seems unaware of the fact that the Supreme Court has routinely overturned such laws since the early 1800s.
- Not that it matters, but ObamaCare was passed into law not by a "strong majority" but by a strikingly thin margin – 219-212 – with no Republican votes.
- Democrats in congress jammed ObamaCare into law knowing full well how unpopular it was with the public. Obama seems to be attempting the same with the court.
More Info: "Obama Threatens Supreme Court
House Rejects Bowles-Simpson, Obama Budget Proposals
The Bowles-Simpson deficit-reduction plan suffered a crushing defeat in the House, in a vote that strongly rejected the approach advocated by its namesake sponsors, who were tapped by President Obama almost two years ago to address the country’s debt crisis.
- The final vote tally was 382-38, with a mere 16 Republicans and 22 Democrats voting for it.
- "This doesn’t do the big things,” said Rep. Paul Ryan, Wisconsin Republican and chairman of the Budget Committee. “You can never get the debt under control if you don’t deal with our health care entitlement programs.”
- Just minutes before the Bowles-Simpson vote, the House had also defeated President Obama’s budget proposal, 414-0.
More Info: "House Rejects Bowles-Simpson, Obama Budget Proposals
Pravda Attacks Mitt Romney
As if having to face the Obama Administration's billion-dollar reelection fund wasn't bad enough, former governor Mitt Romney's campaign today had to suffer the slings and arrows of a Pravda op-ed.
- "Electing Mitt Romney as the next President of the United States of America would be like appointing a serial paedophile as a kindergarten teacher," intoned the one-time propaganda arm of the Soviet Communist Party on its web site.
- The editorial went on to compare Romney's theoretical election to a rapist being appointed as a janitor at a girls'dormitory, or a psychopath with a fixation on knives going to work in a restaurant kitchen.
- The editorial goes on to praise President Obama and foreign relations between Russia and the U.S. today.
More Info: "Pravda Attacks Mitt Romney
Obama's Deficit Spending
According to the White House’s own figures, actual or projected deficits run up by the Obama Administration add up as follows: $1.293 trillion in 2010, $1.300 trillion in 2011, $1.327 trillion in 2012, and $901 billion in 2013.
- Obama is also responsible for an estimated $200 billion (per the Congressional Budget Office) that his economic “stimulus” contributed to the deficit in 2009.
- In sum, deficit spending during Obama’s oval office tenure (according to his own figures) will be roughly $5.170 trillion — or $5,170,000,000,000.00.
- On an annual basis, deficits under Bush averaged $425 billion. Deficits under Obama (according to his own numbers) will average $1.293 trillion — or more than three times as much.
More Info: "Obama's Deficit Spending
CBO: The Longest Period of High Unemployment Since the Great Depression
After three straight years of eight percent unemployment, the U.S. has now suffered through the longest interval of high unemployment since the Great Depression, according to the Congressional Budget Office.
- Inspite of some tentative stirrings of economic good news, the CBO is still forecasting that unemployment will stay above 8 percent through the election, out until 2014.
- The CBO further maintains that including people who haven't sought work in the past month in its calculations, and those with part-time work who would prefer to work full-time, the unemployment rate rises to 15 percent.
- "...the president got the policies he wanted, and... those policies have failed the American people," said Texas Republican Rep. Jeb Hensarling.
More Info: "CBO: The Longest Period of High Unemployment Since the Great Depression
Renting: The New American Dream
Liberal Democrats in government have helped turn the American dream of home ownership into a nightmare for millions of people who could never really afford a home in the first place but were given mortgages anyway.
- Many of those misled borrowers are in dire straits now, with home prices down sharply and bubble-era adjustable rate mortgage payments just as sharply on the rise. Foreclosures continue at a frightening rate.
- If the Great Recession teaches us anything, it's that home ownership, far from being an entitlement, is actually a privilege, obtainable for most people only after years of disciplined bill-paying and savings.
- Many people have come belatedly to the realization that, at least for the time being, it may be wiser to rent than to buy.
More Info: "Renting: The New American Dream
Foreclosures on the Rise Again
After a year-long respite from rising foreclosures, the numbers are trending up again according to a report from RealtyTrac. Foreclosure activity paused in many states last year, due to administrative delays brought on by reports of widespread fraud and "Robo-signing", but that particular bottleneck appears to be a thing of the past.
- Repossessions by banks – the end stage of foreclosure – ramped up 30% in many states. Massachusetts saw a 75 percent spike.
- The state of Nevada continued to suffer disproportionately; it saw the highest rate of foreclosure, with one in every 198 households receiving a filing.
- So-called "distressed property" sales reduce the value of neighboring homes, which push more borrowers into negative equity positions, such that they end up owing more on their mortgages than the current market value of their homes.
More Info: "Foreclosures on the Rise Again
The Paul Ryan Budget – A Clear Choice
Paul Ryan's new budget underscores the stark difference in national destinies we face under Republican and Democrat rule. Under the Ryan budget, taxation never exceeds 19% of GDP, spending is cut by $5.3 trillion, debt goes down, and Social Security and Medicare are fully funded. Under Obama and the Democrats, spending, taxation and debt continue their sharp and ultimately ruinous upward climb.
- Ryan's budget improves the safety net for the most vulnerable Americans by introducing more choice and competition to Medicare, and fosters more state-level flexibility with Social Security.
- The Ryan plan also simplifies the tax system by cutting the six existing tax brackets to two, and cutting out loopholes in the current system.
- "Our budget," says Ryan, "draws a clear distinction between serious reformers and those who stand in the way of the growing bipartisan consensus for principled solutions."
More Info: "The Paul Ryan Budget – A Clear Choice
Obama Promotes Algae as Fuel Source
While President Obama continues his green energy barnstorming tour this week to soothe the gathering public outrage over his eco-utopia boondoggles, his administration continues to butter up its politically-connected alternative energy cronies.
- Obama’s hyping of algae as a fuel source at a recent campaign speech in Miami caught the public’s attention. But "Big Slime" has had its fix in with the administration from the get-go.
- Woods and Algenol — tagged “Obama’s favorite algae company” — raked in $25 million in federal stimulus grants.
- Sapphire Energy, another pond-scum developer, cashed in with $105 million in stimulus funds and loan guarantees.
More Info: "Obama Promotes Algae as Fuel Source
Is President Obama Working With the Russians to Disarm America?
At the end of a 90-minute meeting with Russian President Dmitri Medvedev today, President Obama said he would have “more flexibility” to address such contentious issues as missile defense, but until then, Russian President Vladimir Putin would have to give him “space.”
- The President's words were picked up by a live microphone as the two men emerged from their meeting and prepared to meet with reporters.
- “Yeah, I understand," answered Mr. Medvedev. "I understand your message about space. Space for you…”.
- “This is my last election,” Obama said. “After my election, I have more flexibility.”
More Info: Does President Obama Want to Disarm America?
White House Saw Solyndra Disaster Coming
The most recent Obama administration document dump reveals the extent to which the White House prepared itself for imminent news that Solyndra, a green-energy company highly touted by Obama, would soon go bankrupt.
- Solyndra collapsed at the end of August 2011 and filed for bankruptcy in September.
- Republicans have long argued that the administration was oblivious to numerous red flags pointing to serious financial problems at Solyndra. They’ve further charged the administration with green-lighting loans in 2009 to benefit Obama campaign donors.
- The Republican-led House Energy and Commerce Committee’s year-long investigation has yet to reveal unambiguous evidence of political favoritism by Obama, but a wealth of embarrassing information has been uncovered, and the investigation is ongoing.
More Info: White House Saw Solyndra Disaster Coming
Obama's Pipeline to Nowhere
Clearly reeling from high levels of public disapproval over his handling of the Keystone Pipeline, President Obama posed in front of a row of pipes in Cushing, Oklahoma yesterday, to announce his approval of construction on a tiny portion of the project.
- "Today I'm directing my administration to cut through the red tape, break through the bureaucratic hurdles, and make this project a priority," Obama said. Left unsaid was the central role he played in creating the red tape.
- Republicans called Obama's move a publicity stunt which would make little difference to the schedule of the project or the issue of U.S. energy security. "He's taking credit for going forward on the only portion of the pipeline that he doesn't need to approve," said Senator John Hoeven, of North Dakota.
- Meanwhile, gasoline prices have jumped nearly 30 cents in the past month; the national average is now $3.87 a gallon.
More Info: Obama's Pipeline to Nowhere
After 3 Years of Obama, America More Divided Racially Than Ever
Three years after Obama's supporters' confident predictions that his election would bring a new age of racial harmony to the United States, a glance at The Drudge Report today is all you need to see how hollow those predictions were.
- The New Black Panther Party is circulating a “wanted dead or alive” poster for George Zimmerman in the shooting death of Florida teenager Trayvon Martin.
- Race hustlers like Jesse Jackson and Al Sharpton are using their usual inflammatory rhetoric to gin up feelings of fear and hostility among American blacks. According to Jackson, "Blacks are Under Attack". But is that true? Or did one (Hispanic) suspect allegedly shoot one black teen.
- Meanwhile, protests and walkouts are spreading in Florida schools.
More Info: Racial Division in America Under Obama
Cold-Case Posse Asks for Probe of Obama Birth Certificate
Sheriff Joe Arpaio of Maricopa County has been asked by his Cold Case Posse to expand the investigation of Barack Obama's birth certificate into what it calls a "full-scale criminal probe".
- Almost a year ago, President Obama tried at a news conference to put the issue to bed, once and for all.
- Since then, Obama has refused to allow direct access to original documentation by the press.
- Over one-third of voters in three states say they still doubt Obama's eligibility to lawfully hold the Presidency.
- There continues to be widespread doubt that the documentation released by Obama a year ago is a computer-generated forgery.
More Info: Sheriff Joe Arpaio press conference.
New Obama Dividend Tax Would Deal Crushing Blow to Retirees
Secretly tucked away inside President Barack Obama’s 2013 budget is a scheme to triple the tax rate on corporate dividends, from 15% to 45% – a policy that would deal a severe blow to retirees.
- According to IRS data, retirees and near-retirees who depend on dividend income would be the most severely hit by the new tax.
- The White House wants everyone to think the new rate applies only to individuals making $200,000 a year.
- But in actuality all American shareholders would lose as the new taxes make stocks less valuable, sapping widely-held portfolios in the process.
- Millions more own stocks through pension funds. Why would the White House endorse a policy that will make these households poorer?
More Info: Obama's Dividend Tax Would Devastate Retirees
Arpaio Investigation Finds "Probable Cause" of Obama Cert Fraud
A six-month investigation by Maricopa County Sheriff Joe Arpaio into the authenticity of President Obama's birth certificate points to a "...computer-generated forgery, not a scan of an original 1961 paper document as represented by the White House..."
- Obama’s Selective Service card is also believed to be a forgery.
- Cold Case Posse investigators have yet to determine who, when or how the long-form computer generated birth certificate released by the White House last year may have been forged.
- Arpaio says the president could clear everything up simply by demanding that the Hawaii Department of Health release all applicable documents from 1961.
More Info: "Probable cause" Obama birth certificate is fraudulent.
Religious Liberty Under Assault by Obama
Rick Santorum's comment that "Satan has his sights on the United States" has already sparked accusations on the Left that he is a threat to religious liberty. But, as Rush Limbaugh pointed out on his February 27 radio show, it's Barack Obama and the Left who are the actual threats:
- "Aren't we constantly told that we must always respect people for their religious beliefs?" Limbaugh asked. "Or does that only apply to Democrats and Muslims?"
- When Obama trots out his own religious beliefs, by saying, for instance, that Jesus would have approved of higher taxes on the rich, where are the voices on the Left? The ones that take such umbrage at Rick Santorum?
- And what are we to conclude when Obama's own Secretary of Health, Kathleen Sebelius, decrees that Catholic institutions must provide contraceptive products and services – in direct violation of their own most deeply held spiritual beliefs?
More Info: How Barack Obama Assaults Religious Liberty
Obama's Jarrett Claims Unemployment Benefits "Good for Economy" !
Following the example of House Minority Leader Nancy Pelosi, top Obama advisor Valerie Jarrett has publicly trotted out the notion that Unemployment Checks actually stimulate the economy.
- Speaking at North Carolina Central University in Durham, North Carolina, Jarrett claimed that jobless Americans getting and spending unemployment checks is actually a healthy thing.
- "We need to make sure that we continue to support that important safety net," said Jarrett.
- No such claims were ever made by Democrats who relentlessly criticized the economic policies of George W. Bush, at a time when unemployment rates were much lower than they are now.
More Info: Unemployment Checks Good for American economy
Taxes Way Up, Revenues Way Down in England
Rush Limbaugh reports a story with a lesson that conservatives know all too well, but liberals find almost impossible to accept: when governments raise taxes too much, revenues go down, not up.
- "It's as predictable as the sun coming up," said Limbaugh. "They raised income tax rates up to 50% and the revenue coming in is down precipitously."
- According to an article in The Telegraph, a British government treasury source attributed the budgetary shortfall to "...highly-paid individuals arranging their affairs to avoid paying the 50% rate."
- Imagine that. Rich people trying to keep more of their own money. Come to think of it, poor and middle-class people do the same thing.
More Info: "50% Tax Rate 'Failing to Boost Revenues' – Telegraph
Lies, Damned Lies, and Unemployment Statistics
According to the CBO, the unemployment rate in the U.S. has exceeded 8 percent since February 2009. This makes the past three years the longest stretch of high unemployment experienced in this country in 80 years – the longest since the Great Depression.
- But, as Rush Limbaugh said in his show today, "The official unemployment rate excludes those individuals who would like to work but have not searched for a job in the past four weeks, as well as those who are working part-time but would prefer full-time work."
- According to James Pethokoukis, if the number of jobs available today were identical to what they were when Obama was sworn in, there were 2.2 million more jobs available to have in this country in '09 than there are today.
- The bottom line: those unemployment rates reported in the media don't tell anywhere near the whole story of the amount of suffering in the economy.
More Info: Lies, Damned Lies, and Unemployment Statistics
Americans Pay the Price for Obama's War on Energy Production
Behind the dry statistics of the "average price of gas" is the grinding reality of people driving to work or stuck in traffic, churning through the week's budget, greeted by $5/gallon gas prices when they pull up to the pump.
- The elite media doesn't have to worry much about these prices. Their incomes are high enough to take the hit of $80 fill-ups, and their lifestyles can take the hit when gasoline prices spike as they do.
- If President Bush were still in office, is there any doubt that we would be treated to story after story on the misery high pump prices inflict on average consumers?
- The cold hard fact is this: this is the Obama Economy. All the media applause over 8.3% unemployment and the so-called economic recovery can never convince people that this is the best we can do. It isn't. It's not even close.
More Info: Obama's War on Energy Production in America
Obama Administration Shakes Down Banks for $25 Billion
Eric Holder and attorneys general from 42 states are shaking down the country's mortgage lenders for $25 billion, supposedly as a penalty for "tricking" people into taking mortgages they couldn't afford.
- As Rush Limbaugh points out on his radio show, this is social justice at work, because, don't forget, these banks were coerced by the government into loaning money to people they knew could never pay it back.
- In theory, the $25 billion will be divvied up to all the poor people who were allegedly screwed, who were tricked by the banks – up to $20,000 a person.
- And now the punch line: There will be a series of fees added to your banking experience to pay for this $25 billion. Do you really think the banks are going to bend over and grab their corporate ankles? Think again, dear reader!
More Info: Obama Administration Shakes Down Banks for $25 Billion
Taxes Set to Skyrocket 30% In Next 2 Years: CBO
According to the Congressional Budget Office's Budget and Economic Outlook, the amount of money the federal government will be taking out of the U.S. economy in taxes will rise by more than 30 percent between 2012 and 2014.
- At the same time, according to CBO, the economy will remain sluggish, partly because of higher taxes.
- “In particular, between 2012 and 2014, revenues in CBO’s baseline shoot up by more than 30 percent,” a CBO spokesman said. “Mostly because of the recent or scheduled expirations of tax provisions, such as those that lower income tax rates and limit the reach of the alternative minimum tax (AMT), and the imposition of new taxes, fees, and penalties that are scheduled to go into effect.”
More Info: Taxes To Skyrocket 30% in Next 2 Years
A Rarity of Rarities from the CBO – Economic Common Sense!
From Rush Limbaugh comes news of a new CBO report that bodes ill for the country and for President Obama's reelection prospects. Attention liberals: The CBO enjoys much credibility, even in the mainstream media. They're the coin of the realm, universally regarded as arbiters of truth and probity!
- The CBO projects a 2.2% growth rate this year. Just for comparison: China is growing at 9%. Obama's budget projection last year assumed growth of 5% by now, and into the foreseeable future.
- For 2013, CBO's projection is 1%. Per Limbaugh: "After the elections, after November, we can look forward to a 1% GDP. That's a recession, folks. The New York Times called 3.5% GDP a recession under Bush."
- It all boils down to this: Obama's government spending, government revenue growth, and tax increases will starve the private sector.
More Info: Economic Common Sense from... the CBO!
US Treasury Boosts Estimate of Auto Bailout Losses
The Treasury Department has raised its estimate of government losses stemming from the $85 billion auto bailout to the tune of $170 million. In its latest report to Congress, the Treasury revised its estimate upwards to $23.77 billion, from $23.6 billion.
- Much of the loss comes from a steep drop in GM's stock price over the previous six months. GM is down 35 percent from its 52-week-high of $37.23.
- At current share prices, the government stands to lose more than $14 billion on the GM bailout. GM's low stock price has delayed the government's sale of its remaining shares indefinitely.
- The government has also taken a $1.3 billion loss on its $12.5 billion bailout of Chrysler.
More Info: Treasury Boosts Estimate of Auto Bailout Losses
Mitt Romney gave millions to charity. Joe Biden gave $369.
Bowing to intense political pressure, Mitt Romney's campaign finally revealed his 2010 and 2011 tax returns to the press. What do they reveal? Not surprisingly, a very high income: $42 million. $6.2 million in tax payments (an effective tax rate of roughly 14%). Oh, and $7 million in donations to charity, including $4.1 million to the Mormon church.
- Romney has been criticized harshly for having bank accounts in Switzerland and the Cayman Islands – but he has broken no U.S. tax laws.
- Democrats will try to gin up class resentment against Romney for his wealth, but Romney earned it with talent and toil, and he has paid his fair shair of taxes.
- By comparison, the yearly average of Joe Biden's charitable giving in the past decade came to $369.
More Info: Mitt Romney Gave Millions to Charity. Joe Biden Gave $369.
Under Obama, Price of Gas Has Jumped 83 Percent
According to the Bureau of Labor Statistics, the price of a gallon of gasoline has increased 83 percent during the presidency of Barack Obama. In the same span of time, ground beef has gone up 24 percent and the price of bacon has risen by 22 percent.
- When Obama took office in January 2009, the city average price for a gallon of regular unleaded gasoline was $1.79.
- Five months later in June, unleaded gasoline was $2.26 per gallon, an increase of 26 percent. By December 2011, the price of regular unleaded gas per gallon was $3.28, an 83 percent increase from January 2009.
- By May 2011, gas prices hit a high under the Obama administration at $3.93, about four percentage points away from the previous high in July 2008.
More Info: Under Obama, Price of Gas Has Jumped 83 Percent
Obama's Rejection of the Keystone Pipeline is an Act of National Insanity
Writing in the Washington Post, Robert Samuelson eviscerates the political and policy logic that went into President Obama's stunning rejection of the Keystone pipeline, the building of which, in addition to serving our energy needs, would provide immediate, well-paid employment for thousands of Americans.
- Environmentalists have nothing to cheer about from this decision, which does nothing to stop Canada's supposedly hazardous development of its own tar sands.
- On the other hand, the decision angers and embarrasses a strong American ally, Canada. Getting Canadian cooperation on other political issues in the future may be more difficult now.
- The big winner in this cynical political circus may well end up being China, perhaps the biggest industrial polluter on the world stage.
More Info: Pipeline Rejection an Act of National Insanity
Memo to Thomas Friedman: Unions Are Illegal in China!
Thomas Friedman, the Pulitzer-prize winning columnist at The New York Times, is forever rhapsodizing about the economic efficiency and dynamism of China. But, as Rush Limbaugh points out, there's one great big caveat that should give even liberal statists like Friedman pause: there are no unions in China. They're illegal.
- Friedman and others of his ilk constantly bemoan the inefficiency of America: there are too many committees, too much legislation, too many people trying to decide what to do, and it all gets bottled up.
- Friedman thinks we need no more than a handful of people to make the big decisions. What goes without saying is he thinks he should be one of that handful.
- And what would happen if you tried to unionize in China? You'd go straight to jail, or a prison camp – for reeducation and hard labor.
More Info: Unions Are Illegal in China
Why Would You Let President Obama Invest Your Retirement Savings?
Here's a provocative question from Rush Limbaugh: If Barack Obama can use taxpayer money to invest in fraudulent, phony, there-is-no-business-there green energy companies that go belly up, shouldn't we, as taxpayers, have the right to put our retirement money in a safer place than Washington DC?
- After all, the argument against privatizing even a small part of Social Security is that people might lose their nest eggs on dangerous investments.
- The national debt is $16 trillion and counting. The government has lost $16 trillion of taxpayers' money, yet they try to tell us we can't be trusted with our own money.
- A gang of clueless hucksters led by Obama is taking our money and throwing it down the green energy rat hole, knowing full well a chunk of it is coming back to them in the form of campaign contributions.
More Info: Why Would You Let President Obama Invest Your Savings?
Bill Clinton & the Roots of the Housing Crisis
Banks and mortgage lenders have been painted as the nefarious villains behind the housing crisis by Obama and the Democrats, but Rush Limbaugh correctly traces the actual cause of the disaster back to President Clinton's disastrous decision to put teeth into a piece of social engineering called the Community Reinvestment Act.
- Limbaugh: "Bill Clinton, the federal government, Janet Reno, various Democrats... created a program that led to the collapse of the housing industry."
- Are we really supposed to believe that evil-hearted lenders sought out, on their own, customers they knew could never pay back their loans?
- As Limbaugh says, you can't stay in business giving money away. But that's exactly what Clinton, Reno, Chris Dodd, and Barney Frank, et al, forced lenders into, for political purposes. And now we're paying a very steep price for it.
More Info: Roots of the mortgage mess.
False Assumptions About Discrimination by Lenders Led to Subprime Crisis
The subprime mortgage crisis is a direct result of government policy built on the fallacy that financial institutions were unjustly discriminating against minorities by refusing to give them home loans.
- Janet Reno, Barney Frank and the Clinton Administration threatened financial institutions, telling them that if they didn't make these loans, the government would punish them with investigations and heavy fines.
- Lending institutions created new kinds of loans that nobody could ever pay back, and then devised new financial products which they sold to anyone they could, hoping to make the worthless loans they'd been forced to make worth something for themselves.
- If pure capitalism had been allowed to work, the banks would never have made these loans, and the country would not be suffering the way it is today.
More Info: Government Meddling Led to Subprime Mortgage Crisis
If Obama Really Cared About the U.S. Economy...
Rush Limbaugh cuts to the chase once again: If Barack Obama truly cared about the U.S. economy, he would have embraced the Republican "Cut, Cap & Balance" proposal. Instead, he has opted to demagogue the debt limit issue and effectively put the country even deeper in the red.
- Limbaugh: "Standard & Poor's specifically admitted that [Cut, Cap & Balance] would have prevented a downgrade!"
- Obama and the Democrats want everyone to believe that they care about you, and that they're earnestly seeking a solution to our budget woes.
- "This is being done purposefully," says Limbaugh. "The sooner everybody comes to grips with that the faster we're gonna be on a course of reversing this."
More Info: Obama's Destruction is Purposeful
Paul Ryan: Spending Under Obama up 84%
Rebutting President Barack Obama's State of the Union Address, Rep. Paul Ryan (R-WI) called America's debt "out of control" and said the president's misguided economic policies have put the country in a state of "fiscal crisis".
- "Since taking office, President Obama has signed into law spending increases of nearly 25% for domestic government agencies - an 84% increase when you include the failed stimulus," Ryan said in his speech.
- According to Ryan, the U.S. has reached a tipping point and needs to take steps in a new economic direction.
- Ryan urged people to look at the riots and benefit cuts being adopted in Great Britain, Ireland, and Greece. "They didn't act soon enough," he said. "And now their governments have been forced to impose painful austerity measures: large benefit cuts to seniors and huge tax increases on everybody."
More Info: Ryan – Obama's Economic Policies Have Failed
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