Tuesday, October 18, 2011

Obama First 1000 Days is a Failure

If Obama is going to tout his accomplishments in killing bin Laden, the president is going to have a very rude awakening. With 300 days left till the 2012 election, Obama has a very unrealistic chance in turning the economy around. The media won't be able to save him.

(Fox News) WASHINGTON -- President Obama hit his 1,000-day mark Monday, and with new data showing hikes in poverty, foreclosures, joblessness and debt, the president has a little over a year to convince Americans that he is turning the country in the right direction.

According to data from the Office of Management and Budget and Congressional Budget Office, the United States has added more than $4 trillion in public debt since Obama took office, and the federal government has spent $6.6 million a minute during that time.

But the economy is still behind the eight ball: the jobless rate averaged 9.4 percent between Jan. 20, 2009, and Sept. 30, 2011, and nearly 3 million more Americans are in poverty compared with when Obama took office.

"He's got about 300 days to convince the American people that he deserves another term," said Andy Card, former White House chief of staff for President George W. Bush. "By his own standard, he said if he didn't have these things accomplished in three years, he wasn't going to get re-elected."

As of Oct. 17, here is a snapshot of what's different, compared with Jan. 20, 2009:

-- The U.S. debt increased by an average of $4.2 billion per day. The total rise in that time breaks down to more than $13,000 in additional debt for every single American.

-- The government has spent more than $9.6 trillion, about 60 percent more than what Washington took in.

-- The country racked up as much debt in the last 1,000 days as it did in the first 79,135 days. (That's from 1776 to 1993.)

-- In the last 1,000 days, America spent $1.2 trillion in interest on the debt. By itself, that would represent the world's 15th largest economy.

-- On the economic front, 2.22 million jobs have been lost.

-- More than 2.4 million homes were repossessed for failure to pay mortgages.

-- The unemployed are staying out of work longer -- on average about 40.5 weeks, more than double the typical bout of joblessness in January 2009.

-- The jobless rate has been at or above 9 percent for 840 of the last 1,000 days.

-- Thirty-seven states have higher unemployment rates.

-- Washington has spent almost $380 billion on federal unemployment benefits.

-- Since January 2009, 7,076 new final regulatory rules were issued.

-- About 12 million more Americans are on food stamps.

-- Gas prices are up by more than 80 percent. The price-per-gallon has exceeded $3 every day in 2011