Wednesday, February 15, 2012

Obama Explains On Failed Promise To Cut Deficit In Half

It took this long the American people to figure this out. Obama is a failed president. Duh! Look at the video. Obama is still blaming everyone except himself. This is Obama fault! Obama doesn't get it. Obama is way over his head. The president thinks it is good to see the unemployment rate down while more jobless workers are getting long term unemployment benefits, fewer people on the workforce, and more people gave up looking for work. That is the change to believe in.

(Real Clear Politics)) In an interview with Atlanta's local Fox affiliate WAGA-TV President Obama explains why he was unable to cut the deficit in half in his first term, a promise he made as a candidate.

Obama was lobbed the question by a sympathetic reporter who said he is getting "pelted in the media" for making a campaign promise he did not keep.

"Well we're not there because this recession turned out to be a lot deeper than any of us realized," Obama said about his inability to cut the deficit in half.

"Everybody who is out there back in 2009, if you look back what their estimates were in terms of how many jobs had been lost, how bad the economy had contracted when I took office, everybody underestimated it. People thought that the economy contracted 3%. It turns it retracted close to 9%. We lost 8 million jobs just in a year's span, about half a year before I took office and half a year after I took office," Obama said.

"So, the die had been cast, but a lot of us didn't understand at that point how bad it was going to get. That increases the deficit because less tax revenues come in, and it means that more people are getting unemployment insurance, we're helping states more so they don't teachers, etc. The key though is we're setting ourselves on a path where we can get our debt under control."