what I would like to talk about this afternoon is a bit about the President's economic record. I am sure Americans have noticed the President barely mentions this economic record when he is out on the campaign trail, and I can well understand why. It is not a very impressive record, especially if you are a taxpayer or a business owner. Our national debt creeps closer to $16 trillion each day. It is now more than $5 trillion more than it was when the President took office. It now adds up to about $50,000 per person in the United States, and that is exclusive of interest payments. By way of contrast, the median yearly household income--in other words, all the people in the house-- is less than $50,000. It is $49,445. Unemployment recently dropped, but it did so for the simple reason that fewer people are searching for work. The President's signature legislative items--the stimulus bill, ObamaCare, and Dodd-Frank--have not only been unhelpful in boosting growth, but they have left a trail of crushing debt, uncertainty, and new regulations in their wake. I want to make a few points about each of those bills because I think they paint a fair picture of the President's economic record. First, let me talk about the stimulus. We have not forgotten about the stimulus, even though I suspect the President might like to--$1.2 trillion. It, obviously, failed to achieve the promised results.…
On the recordMay 21, 2012
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