Infographics / Unemployment

Unemployment 2009-2012: Obama projections vs. reality

In 2008, Sen. Obama claimed he was the most qualified candidate to turn our unemployment situation around.  He called President Bush “unpatriotic” and “irresponsible” for running up $4 trillion in debt over his eight years in office (but failed to note that Bush’s eight-year unemployment rate averaged 5.3%):

“Bush has taken out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back.  $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.” (7/3/08)

Obama said if we elected him, and let him borrow and spend $780 billion for his “stimulus” program (about a quarter of our entire federal budget at that time), our unemployment rate would not rise above 8%, and would steadily drop to 5.5% by year-end 2012.  He said that if we didn’t allow him to engage in his “stimulus” program, unemployment would briefly peak near 9%, then fall to 5.5% by year-end 2012.  Soon after Obama was elected, he and his Democratic allies put forth a detailed plan that expanded on these predictions.  He then said he was staking his presidency on his supposed leadership abilities, and the accuracy of his projections:

  • “If I don’t have this done in three years, then this (my presidency) is going to be a one-term proposition.” (2/2/09)
  • “As President, I expect to be judged – and should be judged – by the results of this (stimulus) program.” (2/11/09)

In reality, over the past four years, we’ve allowed President Obama to borrow and spend more than $5 trillion, adding more to our national debt than even President Bush did in eight years.

So what was the result of Obama’s borrowing and spending – and all his promises?

Judge for yourself:

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