President Barack Obama: “Let’s make sure people who bundle campaign contributions for Congress can’t lobby Congress, and vice versa - an idea that has bipartisan support, at least outside of Washington.” (President Barack Obama, State Of The Union Remarks, Washington, D.C., 1/24/12)

Background On Obama’s Bundlers

351 Bundlers Have Brought In Money For Obama For America And The Obama Victory Fund. (“Obama For America And Obama Victory Fund 2012 Volunteer Fundraisers,” barackobama.com, Accessed 10/14/11)

• At Minimum, These Bundlers Have Brought In $55.5 Million, Or 42.6 Percent Of Obama’s Total Haul. (Federal Election Commission, fec.gov, Accessed 10/14/11; “Obama For America And Obama Victory Fund 2012 Volunteer Fundraisers,” barackobama.com, Accessed 10/14/11)

At Least 15 Of Obama’s Bundlers Are In The Lobbying Industry And Have Raised Over $5 Million For Obama’s Reelection Campaign. “At least 15 of Mr. Obama’s ‘bundlers’ - supporters who contribute their own money to his campaign and solicit it from others - are involved in lobbying for Washington consulting shops or private companies. They have raised more than $5 million so far for the campaign.” (Eric Lichtblau, “Obama Backers Tied To Lobbies Raise Millions,” The New York Times, 10/27/11)

Obama’s 2012 Bundler List “Features A Number Of People Involved In The Business Of Influencing Government.” “A list of Obama’s own top fundraisers features a number of people involved in the business of influencing government, including the head of a lobbying and public relations firm, the corporate executive who oversees Comcast’s lobbying efforts and the chairwoman of pharmaceutical giant Pfizer’s political action committee, among others.” (Michael Scherer, “No Registered Lobbyists Among Top Obama Fundraisers, But Influence Seekers Abound,” Time’s “Swampland,” 7/20/11)

• Obama’s “Bundlers Include Business Executives Whose Companies Have Substantial Interests Before The Federal Government.” “But the president’s bundlers include business executives whose companies have substantial interests before the federal government.” (Nicholas Confessore, “New Stable Of Wealthy Donors Fueled Obama Campaign’s Record Fund-Raising Quarter,” The New York Times, 7/16/11)
• Including The Chairman Of Salesforce.com And The Owner Of MWW Group, A Lobbying Firm In DC. “ Marc Benioff, who raised more than $500,000, is also chairman of Salesforce.com, a company whose software the Obama administration has adopted for wide use in federal agencies. Another bundler, Michael Kempner, is president of the MWW Group, a national public affairs company that has a lobbying practice in Washington.” (Nicholas Confessore, “New Stable Of Wealthy Donors Fueled Obama Campaign’s Record Fund-Raising Quarter,” The New York Times, 7/16/11)
• “Their Contributions Are Accepted, However, As Long As They Hire Other People To Make Most Of The Person-To-Person Contacts With Federal Officials.” (Michael Scherer, “No Registered Lobbyists Among Top Obama Fundraisers, But Influence Seekers Abound,” Time’s ” Swampland,” 7/20/11)
• Some Of Obama’s 2008 Bundlers’ Companies Have Profited, Or Are Poised To Profit, From The Obama Agenda. “Some Obama bundlers have ties to companies that stand to gain financially from the president’s policy agenda, particularly in clean energy and telecommunications, and some already have done so. Level 3 Communications, for instance, snared $13.8 million in stimulus money. At least 18 other bundlers have ties to businesses poised to profit from government spending to promote clean energy, telecommunications and other key administration priorities.” (Fred Schulte, John Aloysius Farrell, And Jeremy Borden, “Obama Rewards Big Bundlers With Jobs, Commissions, Stimulus Money, Government Contracts, And More,” IWatch, 6/15/11)

“Bundlers Have Collected Checks That Account For 35 Percent Of The Total Raised For Obama’s Re-Election.” (Paul Blumenthal, “Pbama Bundlers Raise $55.5 Million For President’s Re-Election,” The Huffington Post, 10/15/11)

“In Fact, More Than $1 Of Every $3 Donated To Obama And The DNC So Far This Year Has Come From Bundlers, According To The Center’s Research.” (Seth Cline, “Where In The World Are Obama’s Bundlers, Pt 2,” Open Secrets’ Blog, 10/20/11)

Obama talked about deficit of trust, but he promised and failed to deliver greater bipartisanship in politics…

Obama Promised Greater Bipartisanship

PROMISE: Obama: “I Will Continue To Seek Common Ground In The Weeks Ahead. If You Come To Me With A Serious Set Of Proposals, I Will Be There To Listen. My Door Is Always Open.” (President Barack Obama, Remarks To A Joint Session Of Congress On Health Care , Washington, DC, 9/9/09)

• June 22, 2007: Obama Complained That The Bush White House Was The “Most Politicized White House In History And The American People Have Suffered As A Result.” OBAMA: “This has been the most politicized White House in history, and the American people have suffered as a result. Presidents obviously want to surround themselves with those who share their views and their beliefs, but the days of firing eight qualified U.S. attorneys because of their politics is over. The days of using the White House as another arm of the Republican National Committee are over.” (Senator Barack Obama, “Taking Our Government Back,” Manchester, NH, 6/22/07)

BROKEN: FactCheck.org: “[I]t’s Simply A Fact That The President Failed At ‘Bringing Democrats And Republicans Together.’” “To be sure, the president did sign the Patient Protection and Affordable Care Act into law in 2010, but it wasn’t enacted by ‘bringing Democrats and Republicans together.’ The bill passed the Senate on Dec. 24, 2009, by a vote of 60-39, without any Republicans voting for it. And when the House passed its version of the bill almost three months later, by a vote of 219-212, it too garnered no support from Republicans. We won’t offer any opinion about whether one side is more to blame than the other for that, but it’s simply a fact that the president failed at ‘bringing Democrats and Republicans together.’” (D’Angelo Gore, “Promises, Promises,” Fact Check.org, 1/4/12)

Obama’s Failure To Transcend Washington Partisanship “Has Never Been More Glaringly Obvious.” “Candidate Barack Obama promised to transcend Washington partisanship. President Obama plummeted into it. As the House returns Tuesday for the final session of his first term, Obama’s failure to fulfill this central claim of his 2008 campaign has never been more glaringly obvious.” (Carrie Budoff Brown and Jonathan Allen, “Partisan D.C.: Obama’s Broken Promise,” Politico , 1/17/12)

“The Hard Truth Is That Washington Next Year Will Look Indistinguishable From The One Obama Warned Against During His Election-Night Victory Speech…” “The hard truth is that Washington next year will look indistinguishable from the one Obama warned against during his election-night victory speech, when he called on Republicans and Democrats to ‘resist the temptation to fall back on the same partisanship and pettiness and immaturity that has poisoned our politics for so long.’” (Carrie Budoff Brown and Jonathan Allen, “Partisan D.C.: Obama’s Broken Promise,” Politico, 1/17/12)

Obama said he would not go back to the days when Wall Street was allowed to play by its own set of rules or allow financial institutions to make risky bets with customers’ deposits… unless they happen to be your “Wall Street guy” who bundled over $500,000 for your campaign.

Obama’s Wall Street Guy’s Firm Went Bankrupt And Lost $1.2 Billion In Customers’ Funds

President Obama: Jon Corzine Is “Our Wall Street Guy.” “The rollout also provided a showcase for Corzine, the former Goldman Sachs CEO whom Obama referred to as ‘our Wall Street guy’ at a meeting of Democratic governors in Chicago on Friday.” (Claire Heininger, “Corzine Profile Rises In Obama Camp,” The Star-Ledger (NJ),6/23/08)

• President Obama: “Jon Corzine wasn’t just the first governor to pass an economic recovery plan for his state;he was an ally with the Obama administration in helping us develop a national recovery plan.” (President Obama, “ Remarks By The President At New Jersey Rally For Governor Jon Corzine,” Holmdel, NJ, 7/16/09)

•  Watch Obama’s Comments Here

October 31^st: Jon Corzine’s Wall Street Firm, MF Global, Filed For Bankruptcy. “Broker-dealer MF Global, headed by former New Jersey governor and Goldman Sachs chairman John Corzine, has filed for bankruptcy protection, apparently because of holdings of European debt.” (“Broker-Dealer MF Global Files For Bankruptcy,” USA Today, 10/31/11)

• The Eighth Largest Bankruptcy In US History “Has Shaken Faith In The Markets.” “The case — the eighth-largest bankruptcy in U.S. history — has shaken faith in the markets and put business on hold for many owners of the roughly 38,000 securities and commodities trading accounts at the firm, from big-city traders to heartland farmers.” (James O’Toole, “The MF Global Money Chase,” CNN Money, 12/6/11)

Up To $1.2 Million Is Missing From Customers Of Jon Corzine’s Firm. “The court-appointed trustee overseeing MF Global’s bankruptcy says up to $1.2 billion is missing from customer accounts, double what the firm had reported to regulators last month.” (Marcy Gordon, “MF Global Trustee Says $1.2B Or More Missing,” The Associated Press, 11/21/11)

Corzine And MF Global Exemplify How Political Connections Matter In Obama’s “New Era Of Regulatory Power”

“MF Global Also Shows How This New Era Of Regulatory Power Puts A Premium On Political Connections.” (Editorial, “Mr. Corzine And His Regulators,” The Wall Street Journal , 12/1/11)

The CFTC Proposed A Rule That Would Have Resulted In A “Crackdown” On MF Global’s Behavior In October 2010, But “Met A Powerful Roadblock In Mr. Corzine.” “Mr. Gensler’s agency initially proposed the crackdown in October 2010, and neared a vote on the plan this summer. But at the time, the agency met a powerful roadblock in Mr. Corzine, former Democratic governor of New Jersey.” (Ben Protess, “Regulator Approves ‘MF Global Rule,’” The New York Times’ “Dealbook,” 12/5/11)

Corzine Launched An “Aggressive Lobbying Campaign” And Delayed The Rule From Taking Effect. “Mr. Corzine’s efforts culminated on July 20, as MF Global executives were on four different calls with the agency’s staff. Mr. Corzine personally participated in two of those calls. Ultimately, the aggressive lobbying campaign helped delay the proposal.” (Ben Protess, “Regulator Approves ‘MF Global Rule,’” The New York Times’ “Dealbook,” 12/5/11)

Corzine’s Firm Urged Regulators To Allow Firms To Invest Their Customers’ Funds In Foreign Debt . “Late last year MF Global — the failed investment firm headed by Democratic heavyweight Jon S. Corzine that can’t account for as much as $900 million of its clients’ money — urged a federal agency to allow futures firms to invest funds from their customer segregated accounts in foreign sovereign debt.” (Nancy Watsman, “Corzine’s MF Global Pushed Regulators To Use Client Funds,” The Huffington Post, 11/4/11)

• “And It Is Now Clear That He Personally Lobbied Regulators And Auditors About The Strategy.” (Azam Ahmed, Ben Protess And Susanne Craig, “A Romance With Risk That Brought On A Panic,” The New York Times’ “ Dealbook,” 12/11/11)

Obama said he would not walk away from workers in clean energy but here’s what one of the 1,100 fired Solyndra employees had to say: “It’s not about the people; it’s politics … We all feel betrayed.”

Fired Solyndra Worker: “It’s Not About The People; It’s Politics … We All Feel Betrayed.” “‘It’s not about the people; it’s politics,’ said Sterio, who remains jobless and at risk of losing her home. ‘We all feel betrayed.’” (Joe Stephens and Carol D. Leonnig, “Solyndra: Politics Infused Obama Energy Programs,” The Washington Post, 12/25/11)

Obama mentioned having a comprehensive energy policy, but it’s something he’s promised before and not surprisingly, failed to deliver. In his own words, he described his own energy policy as just a “hodgepodge.”

Obama Promised To Make Energy A Priority, But Has Since Admitted His Own Energy Policy Is “Just A Hodgepodge”

PROMISE: In 2008, Obama Called Energy A Leading Priority Of His Presidency. “Looking ahead, I’m confident that we will be ready to begin the journey towards a new energy frontier on January 20th. This will be a leading priority of my presidency and a defining test of our time.” (President-Elect Barack Obama, Remarks in Chicago Announcing Energy And Environment Team, Chicago, IL, 12/15/08)

Obama: “We Can’t Afford Complacency Nor Accept More Broken Promises” On Energy. We can’t afford complacency nor accept more broken promises. We won’t create a new energy economy overnight. We won’t protect our environment overnight. But we can begin that work right now, if we think anew and if we act anew. Now we must have the will to act and to act boldly.” (President-Elect Barack Obama, Remarks in Chicago Announcing Energy And Environment Team, Chicago, IL, 12/15/08)

BROKEN: Even Obama Has Said He’s Failed On Energy, Saying His Energy Policy Is Just A “Hodgepodge.” OBAMA: “Our energy policy still is just a hodgepodge, and for all the progress we’ve made, we’re not where we need to be in making sure that this is an energy-efficient economy that is running on all cylinders.”(President Barack Obama, Remarks By The President At A DNC Event, Miami, FL, 6/13/11)

Obama In His Own Words: “We Still Don’t Have All The Energy Policies In Place That We Need To Free Ourselves From Dependence On Foreign Oil And Adequately Deal With Climate Change.” “We still don’t have all the energy policies in place that we need to free ourselves from dependence on foreign oil and adequately deal with climate change, despite the fact that we’ve doubled fuel economy standards on cars and made enormous progress on clean energy — and that means that I’m going to need another term to finish the job.” (President Barack Obama,  Remarks At Campaign Event #2, Speech, New York, NY, 11/30/11)

Obama: “We Haven’t Had An Energy Policy In This Country That Makes Sense And Frees Ourselves From Dependence On Foreign Oil.” (President Barack Obama, Remarks By The President On The American Jobs Act, Millers Creek, NC, 10/17/11)

President Obama Really Doesn’t Have A Coherent Energy Policy, Whose “Approach Has Been To Throw Out One Idea After Another Without Connecting The Dots Into An Overall Initiative.” “What is also important is what this debacle says once again about White House policy: Mainly that there really isn’t any. As in other initiatives, President Barack Obama has made lofty pronouncements about alternative energy without delineating any coherent coordinated plan for moving forward. His approach has been to throw out one idea after another without connecting the dots into an overall initiative.” (Dan K. Thomasson, “Solyndra’s Shadow Lasting,” The Boston Herald, 10/19/11)

Obama mentioned making college affordable, which is interesting given that under his watch the cost of attending college has increased by thousands of dollars and is at an “all time high.” Obama also mentioned addressing the cost of student loans, but the record shows his own proposal “won’t have much of an impact.” 

Obama’s “Plan” To Address Student Loans Only “Moves The Goalposts” And Would Only Save Average Student $10 A Month:

“Recognizing That College Students And Recent Graduates Are Facing Rising Tuition Prices And Burdensome Student Loan Debt, President Barack Obama Announced A Plan That Seeks To Lessen The Burden Of Paying Back Student Loans.” (Kimberly Hefling, “A Guide To Obama’s Student Loan Plan,” The Associated Press, 10/26/11)

President Obama’s New Student Loan Initiative Is Nothing New, In Fact, He “Inherited” The Plan That Was Signed Into Law By President George W. Bush.  “The Obama administration didn’t create IBR (Income-Based Repayment); instead, it inherited the policy from its predecessor. President George W. Bush signed the College Cost Reduction and Access Act in September 2007. The law allowed, among other things, for student borrowers to cap loan payments at 15 percent of income and for loan forgiveness after 25 years of payments. All those changes came into effect in July 2009.” (Sarah Kliff, “The Bush-Era Backstory On Obama’s Student Debt Proposal,” The Washington Post’s “WonkBlog,” 10/26/11)

·         Obama’s Plan Only “Moves The Goalposts.” “Today’s proposal uses the same structure, but moves the goalposts: the cap for loan repayments gets dropped to 10 percent of income and loan forgiveness gets moved up to after 20 years of payments.” (Sarah Kliff, “The Bush-Era Backstory On Obama’s Student Debt Proposal,” The Washington Post’s “WonkBlog,” 10/26/11)

The Atlantic’s Daniel Indiviglio: “But from a practical standpoint, these executive orders won’t have much of an impact.” (Daniel Indiviglio, “Obama’s Student-Loan Order Saves The Average Grad Less Than $10 A Mont,” The Atlantic, 10/26/11)

Consolidation Of Student Loans Under Obama’s Plan Would Provide Monthly Savings Of Less Than $10 For The Average Student. “Using these values as the high and low bounds of average student debt over the last ten years, the monthly savings for the average student loan borrower would be between $4.50 and $7.75 per month. Clearly, this isn’t going to save the economy. While borrowers with bigger balances would save more, this is the average. And even someone with $100,000 in loans would only cut their monthly payments by $28.50.” (Daniel Indiviglio, “Obama’s Student-Loan Order Saves The Average Grad Less Than $10 A Mont,” The Atlantic, 10/26/11)

Under Obama, The Cost Of College Is At “An All Time High” 

The Cost Of College Has Increased By Thousands At Public Universities. “Public four-year universities charged residents an average of $8,244, up 8.3% from last year, while public two-year schools charged an average of $2,963, up 8.7%, says the report by the non-profit College Board. About 80% of the nation’s undergraduates attend public institutions.” (Mary Beth Marklein, “Tuition And Fees Rise More Than 8% At U.S. Public Colleges,” USA Today, 10/25/11)

The Cost Of College Is Currently At “An All Time High.” “Nationally, the cost of a full credit load has passed $8,000, an all-time high. Throw in room and board, and the average list price for a state school now runs more than $17,000 a year, according to the twin annual reports on college costs and student aid published Wednesday by the College Board.” (Justin Poe, “College Prices Up Again As States Slash Budgets,” The Associated Press, 10/26/11)