Given that Obama’s key economic promises haven’t been kept, what possible excuse can the president offer? Easy. The president’s explanation goes something like this: By the time he took office, the economic situation was far worse than anyone, including Obama, imagined. The deficit was far larger than anyone predicted. The president therefore can’t be held accountable for his failed promises. He was operating on a false set of assumptions. The crisis was much deeper than he knew when he made those promises. “We didn’t know how bad it was,” is how Obama put it last year.How much Mr. Obama's integrity matters to voters remains to be seen, but it does seem as if something comes up every other day to remind us that he has a real problem with the truth.
Here’s the problem: If you go back and examine the record, you’ll find that Obama was fully aware of the depth and severity of the recession. As a candidate, for example, he said we were facing “the worst financial crisis since the Great Depression.” As president-elect, Obama said we faced “a crisis unlike any we have seen in our lifetime.”
Prior to being sworn in, Obama knew — in fact, he went out of his way to warn us — that we were shedding more than half a million jobs per month, the worst job loss in over three decades. That in 2008 we had lost more jobs than in any year since the Great Depression. That manufacturing had hit a 28-year low. That the stock market had fallen almost 40 percent in less than a year. That credit markets were nearly frozen. That businesses large and small couldn’t borrow the money they needed to meet payroll and create jobs. That home foreclosures were mounting. That credit card and auto loan delinquencies were rising. That the economy was “in a global crisis.” And that he was inheriting an “enormous budget deficit—you know, some estimates over a trillion dollars. That’s before we do anything.”
In other words, Barack Obama knew full well how bad things were when he promised he’d cut the deficit in half, when his economic team said that if his stimulus package passed, unemployment would not rise above 8 percent, and much of the rest.
What this means, then, is that Barack Obama’s only excuse for his failures is a myth and a mirage—a manufactured, after-the-fact effort to escape accountability for his own words, his own commitments, and his own failings.
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Monday, July 16, 2012
Pants on Fire
Peter Wehner offers us an analysis at The Weekly Standard of what he calls President Obama's "accountability problem." After listing promises that Mr. Obama has failed to keep or has actually broken Wehner focuses on one of the president's major claims, i.e his repeated asseveration that he didn't realize the magnitude of our economic problems when he took office. Wehner argues that this claim is simply and deliberately false: