FLASHBACK: Obama’s Failed Promise On Fiscal Responsibility

Candidate Obama At A Town Hall On The Economy Four Years Ago Today: “We are going to have to work our way out of the pickle we have been put in here but I refuse to accept the idea that we can’t do it. I am absolutely confident that we can choose our own economic destiny. We can choose another four years with the same reckless fiscal policies that George Bush has implemented, taken our national debt from 5 trillion to over 9 trillion dollars in the span of eight years, mortgaging our children’s future on a mountain of debt; or we can restore fiscal responsibility in Washington. Yes we can.” (Senator Barack Obama, Town Hall On The Economy, Springfield, MO, 7/30/08)

What A Difference Four Years Makes

Budget: By The End Of This Fiscal Year, Obama Will Have Racked Up Four Straight Trillion Deficits.

• FY2009: The Federal Budget Deficit Was $1.413 Trillion, The Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
• FY2010: The Federal Budget Deficit Was $1.294 Trillion, The Third Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
• FY2011: The Federal Budget Deficit Was $1.299 Trillion, The Second Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
• FY2012: The OMB Predicts The Deficit Will Be $1.211 Trillion, The Fourth Highest In U.S. History. (Office Of Management & Budget, “Mid-Session Review: FY2013,” The White House, 7/27/12)

Economy In Havoc: Since President Obama Took Office, The Nation Has Lost 473,000 Jobs And The Unemployment Rate Has Remained Above Eight Percent For 41 Straight Months. (Bureau Of Labor Statistics, Accessed 7/30/12)

• 23.4 Million Americans Are Either Unemployed, Underemployed Or Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 7/30/12)
• Since Obama Took Office, The Average Duration Of Unemployment Has Doubled From 19.8 Weeks To 39.9 Weeks. (Bureau Of Labor Statistics, Accessed 7/30/12)

Mountain Of Debt: Since Obama Took Office, The National Debt Has Increased By Over $5.2 Trillion, An Increase Of Over 49 Percent. (U.S. Treasury Department, Accessed 7/30/12)

• Obama Has Increased Each American’s Share Of The National Debt By $17,013 To A Total Of $51,433. (U.S. Treasury Department, Accessed 7/30/12; U.S. Census Bureau , Accessed 7/30/12)