As the Democratic National Convention (DNC) kicks off this week, culminating with the re-nomination of President Obama, it would be appropriate to consider the president’s “accomplishments” over the past four years in office.
His chief accomplishment is the soaring national debt. Despite multiple promises during his first campaign and throughout his presidency to lower the debt, it will likely surpass $16 trillion during the DNC. In just three years, President Obama has already increased the national debt more than in all eight years of President Bush’s presidency. If he wins re-election, the debt will have increased 87% by the end of his term as president. America cannot sustain this kind of spending and debt if we intend to stay on the path to prosperity.
Another key accomplishment of President Obama and his administration is the failure of government-funded green energy scams like Solyndra. President Obama personally toured Solyndra's new facility and proclaimed that in America, “The true engine of economic growth will always be companies like Solyndra.” Instead, the company laid off 1,100 workers and filed for bankruptcy within two years. It was backed by $535 million in Energy Department loans for which American taxpayers are now in the hook. Just last week, Herb Allison, the executive who performed the ‘independent review’ of the loan program and eventually absolved the Obama administration, was revealed to have donated to the Obama campaign.
Other examples of the overwhelming failure of the green energy agenda include government investment flops like Beacon Power, Ener1, and Abound Solar. Clearly, simply giving these companies money cannot lead to sustainable economic policy. Stories like Solyndra are why AFP pushed for the No More Solyndras Act – a piece of legislation crafted to provide much-needed taxpayer protection from the loan program.
While President Obama and his supporters have championed Obamacare as his crowning achievement, in reality, it is amongst the biggest tax increase in modern history – over $500 billion in new taxes. The Supreme Court’s decision to uphold the individual mandate was a setback, but they confirmed it was a tax – which when put into practice, will make the law even less popular. Americans for Prosperity has hosted countless “Hands Off My Health Care” grassroots rallies to urge repeal of this Washington, D.C. takeover of our health care. AFP activists across the country have told me no issue is bigger and no issue is more personal.
This is just a snapshot of President Obama’s ‘accomplishments’ during his first term in office. The list could continue – staggeringly high unemployment, the failure of the TARP bailout, and the Environmental Protection Agency’s continued regulatory assault on private sector job creators.
This is why, as a leading advocate for economic freedom, Americans for Prosperity is launching its biggest bus tour yet - the “Obama’s Failing Agenda” tour - in 25 states to highlight the president’s ‘accomplishments.’ Families across the country are facing difficult decisions in this economy and his policies are failing them. It’s time for an agenda that will lead all Americans to prosperity.