Argument: Obama has failed to grow the economy
- Debate: Does Obama deserve a second term? - con argument.
Karl Rover. "Why Obama Is Likely to Lose in 2012." Wall Street Journal. June 22nd, 2011: "Unemployment is at 9.1%, with almost 14 million Americans out of work. Nearly half the jobless have been without work for more than six months. Mr. Obama promised much better, declaring that his February 2009 stimulus would cause unemployment to peak at 8% by the end of summer 2009 and drop to roughly 6.8% today. After boasting in June 2010 that "Our economy . . . is now growing at a good clip," he laughingly admitted last week, "Shovel-ready was not as shovel-ready as we expected." The humor will be lost on most. In Wednesday's Bloomberg poll, Americans believe they are worse off than when Mr. Obama took office by a 44% to 34% margin. The last president re-elected with unemployment over 7.2% was FDR in 1936. Ronald Reagan overcame 7.2% unemployment because the rate was dropping dramatically (it had been over 10%) as the economy grew very rapidly in 1983 and 1984. Today, in contrast, the Federal Reserve says growth will be less than 3% this year and less than 3.8% next year, with unemployment between 7.8% and 8.2% by Election Day."
Nile Gardner. "Barack Obama’s disastrous first 1,000 days." The Telegraph. October 18th, 2011: "Since taking office in January 2009, President Obama has ushered in a period of relentless economic decline for the United States. His administration has added $4.2 trillion to the national debt (now standing at $14.9 trillion), lost 2.2 million jobs, introduced a vastly expensive health-care albatross, and spent nearly $800 billion on a failed stimulus package. At the same time, house prices across the country have tumbled at an unprecedented rate, consumer confidence has plummeted, and millions more Americans are now dependent upon food stamps. International confidence in the US economy has fallen to its lowest levels in decades, with credit agency Standard and Poor’s downgrading of America’s AAA credit rating for the first time in 70 years in August this year. As I noted in a piece at the time."