Mr. Chair, I yield myself the balance of my time. President Obama made two key promises to the American public. The first was that he would reduce the deficit by half in his first term of office. The second is that he would fix this broken economy in 3 years. Let's take a close look at those promises, looking first at the economy. This is hard to believe--and I hope those at home are sitting down--but after all of the bailouts, after all the stimulus, after all the Cash for Clunkers, the deficit spending, the housing bailout, everything the President wished for and got in increased spending, we have fewer Americans working today than when this President took office. Think about it: there are fewer Americans working after all the President's economic policies have gone full bore. It's failed the American public in such a way that there are fewer people working today than when this President took the oath of office. Look at the stimulus. This chart shows he promised the American public if you'll just borrow and spend nearly a trillion dollars of interest, our economy will recover. In fact, he promised right now our unemployment rate would be around 6 percent. It's far above that at nearly 8\1/2\ percent. But that doesn't tell the whole picture because so many Americans have given up hope and so many Americans don't even look for a job anymore. They've just dropped out. We have the fewest people in the workforce in almost three decades. They've just given up that much.…
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