we're finding the reality to be something different. And to jog your recollection, here are just a few:
• Economy: "The economy's getting stronger ... confidence is
growing." The media and Obama repeated these like a mantra. But as IBD
reported earlier, real weekly earnings for American workers have fallen
3.5% since Obama took over, a declining trend that has continued
post-election.
How about other signs of well-being? The Census Bureau reported after
the election that the number of Americans in poverty grew by 712,000
people in 2011. A far-more bullish report issued in September said it
had fallen by 96,000. Oh yes, and a record 47 million people today are
on food stamps — up 47% since Obama took over.
Meanwhile, we also heard that consumer confidence was strengthening —
and that would lead to a spurt of new economic activity in the new
year. But in December, the Thomson Reuters/University of Michigan
consumer sentiment index tumbled to 72.9, its lowest reading since June,
from 82.7 in November.
Our own IBD/TIPP Economic Optimism Index fell 7.6% in December to
45.1, a pessimistic reading and the lowest since December 2011.
For small businesses, whom Obama regularly claimed to be helping
while on the stump, the picture's no better. The National Federation of
Independent Business' Small Business Optimism Index fell 5.6 points in
December to 87.5 — one of its lowest readings ever.
"Between the looming 'fiscal cliff,' the promise of higher health
care costs and the endless onslaught of new regulations, owners have
found themselves in a state of pessimism," said NFIB Chief Economist
Bill Dunkelberg. Remember: Small businesses create 80% to 85% of all
jobs.
• Employment: Yes, unemployment has dropped to 7.7%. But only
because hundreds of thousands of Americans have left the workforce. In
September and October, nonpayroll farm jobs were reported as rising
148,000 and 171,000, respectively, solid gains. The mainstream media
played it up as a major turnaround for the economy, giving Obama a
boost.
In early December, a new government jobs report highlighted that job
growth was a 146,000 in November, less than the 151,000 average since
the start of the year. And it revised September and October job growth
down by 49,000.
Yes, the total number of people with private-sector jobs has grown by
2 million over the last year, as the White House proudly trumpets — and
did on the campaign trail. But what never gets reported is that 2.4
million people have left the workforce entirely over the same stretch —
so there is no net real job growth.
• Regulations: President Obama stayed virtually mum on the topic of
regulation during his campaign. Smart move. The EPA is set to release a
tidal wave of new rules to slash CO2 that will close as many as 332
energy plants, while costing the U.S. economy $700 billion, according to
the Manhattan Institute. The rules will hit Pennsylvania, Ohio and
Virginia — states that voted for Obama — especially hard. Think they
might have liked to know that before voting?
• Budget: Obama promised a "balanced" approach to taxes and
spending. But data from the CBO and OMB show spending will surge 55%
over the next 10 years under Obama — nearly $2 trillion in added
spending — swamping Obama's promised "cuts" of $880 billion.
• Taxes: Remember how Obama and his Democratic surrogates taunted
Republicans repeatedly, saying they wanted to raise taxes only on
"millionaires and billionaires" while cutting taxes for the middle
class?
When Republicans tried to do just that, Obama said no thanks. In
fact, he has major tax hikes in store for middle-class Americans —
starting with ObamaCare's 18 or so new taxes, and ending with the
admission of key Democrats such as former presidential candidate Howard
Dean that taxes on everyone must rise dramatically to pay for the
Democrats' spending orgy.
• Benghazi: The White House described the early- September attack on
our consulate in Benghazi, Libya, which killed Ambassador Christopher
Stevens and three other Americans, as a reaction to an anti-Muslim film
clip that appeared on the Internet.
In recent weeks, we've found that the film played no role at all —
and that Obama and his national security staff did nothing to save the
lives of those under attack, even though they knew the attack was
ongoing.
• War On Terror: Obama claimed the war against al-Qaida was basically
over. Now we find out that isn't true. Governments friendly to
al-Qaida, if not its aims, have taken over in Libya and Egypt. Syria may
be next.
For those who think the fight's done, think again. Quietly, Obama is
sending troops back to Iraq to help stabilize the country. And he plans
to send Army teams to as many as 35 countries in Africa to battle
growing terrorist threats — mainly from al-Qaida.
So were Americans duped? Sure. They were told to believe one thing
only to discover right after the election reality was something else.
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