Failed Democrat Economic Policies Deserve Foreclosure

June 15, 2011

Delusional Democrats Expect Americans to Believe That Job-Destroying Policies Worked and We Need More of the Same 

  • New data out Tuesday shows small businesses struggling to create jobs due to Democrats’ job-destroying taxes and regulations.
  • Meanwhile, the housing crisis is now worse than the Great Depression, while analysts say the U.S. economy is headed for another “prolonged downturn.”
  • The Democrat reaction to this news is to double-down on tax hikes, spending increases and even make jokes about their failed policies. No one’s laughing.




A new report out Tuesday from the National Federation of Independent Business documented the real strain job creators around the country are feeling as their efforts run into the administration’s anti-growth policies. Combined with other economic data out over the past week, the report paints the picture of an increasingly frail economy encumbered by failed Democrat policies:


SMALL-BUSINESS OPTIMISM DECREASES IN RESPONSE TO “WEAK CONSUMER SPENDING, RISING TAXES, AND REGULATORY RED TAPE”: “A combination of weak consumer spending, rising taxes and regulatory red tape helped make small business owners more pessimistic in May, according to data released Tuesday, its third consecutive month of decline.” (Javier David, “Small-Business Optimism Drops,” The Wall Street Journal, 6/14/2011)


“HOME BUILDERS’ ECONOMIST LOWERS 2011 HOUSING MARKET FORECAST”: “With the housing market faring poorly, the top economist at the National Association of Home Builders lowered his forecast for home construction this year.” (Alan Zibel, “Home Builder’s Economist Lowers 2011 Housing Market Forecast,” The Wall Street Journal, 6/9/2011)


Indeed, the harm wrought by Democrat policies is so bad that some are arguing that the current housing crisis is “worse than the Great Depression,” with the economy as a whole experiencing a new, “sharp and prolonged downturn”:


CURRENT HOUSING CRISIS “IS NOW WORSE THAN THE GREAT DEPRESSION”:“It’s official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.” (Jeff Cox, “US Housing Crisis Is Now Worse Than the Great Depression,” CNBC, 6/14/2011)


“PRICES OF SINGLE-FAMILY HOMES” FELL FOR 8th STRAIGHT MONTH AND “CONFIRMED DOUBLE-DIP IN THE HOUSING MARKET”: “The prices of single-family homes in 20 major cities fell for the eighth straight month and confirmed that there is a double-dip in the housing market, according to the S&P/Case-Shiller home price index released Tuesday by Standard & Poor’s.” (Greg Robb, “March Case-Shiller Shows Double-Dip in Home Prices,” Marketwatch, 5/31/2011)


“A SHARP AND PROLONGED DOWNTURN IS UNDERWAY” MAKING JOB CREATION EVEN HARDER: “…[A] sharp and prolonged downturn is underway and may make jobs growth even tougher to come by, an influential analyst said Monday.


“In an interview with The Wall Street Journal, Lakshman Achuthan, the co-founder of the Economic Cycle Research Institute, said that over the last few months key indicators of long-term economic growth have all begun pointing in one direction: downward.” (Javier David, “ECRI’s Achuthan: Prolonged U.S. Slowdown Underway,” The Wall Street Journal, 6/13/2011)


The Democrat reaction to this terrible news demonstrates just how out of touch they are with reality. Rather than propose pro-growth solutions to lift the weak economy, Democrats are doubling-down on tax hikes and spending increases. Worse yet, President Obama even cracked jokes about his failed policies while his handpicked party mouthpiece attempted to sell the delusional idea that America’s economy has turned around:


DEMOCRATS DEMAND TAX INCREASES:  “House Minority Whip Steny H. Hoyer, Maryland Democrat, on Tuesday restated his party’s position that any compromise should include increasing government revenue — Capitol Hill code for tax increases — despite GOP demands to the contrary.(Sean Lengell, “Hoyer: Raise Taxes To Lower Debt and Deficit,” The Washington Times, 6/14/2011)

OBAMA SAYS CONTINUING HIS SPENDING SPREE IS A “WIN-WIN-WIN-WIN”:“We should be able to agree on investing in the research and technology that leads to new ideas and new industries. … It is a win-win-win-win proposition.”(“Remarks by the President at Cree, Inc., in Durham, North Carolina,” The White House, 6/13/2011)


STIMULUS FAILURE IS… FUNNY?: “Obama smiled and interjected, ‘Shovel-ready was not as … uh .. shovel-ready as we expected.’ The Council, led by GE’s Jeffrey Immelt, erupted in laughter.” (“Obama Jokes at Jobs Council: “Shovel-Ready Was Not as Shovel-Ready as We Expected,” Fox News, 6/13/2011)


OBAMA THINKS HE “DESERVES CREDIT” FOR ECONOMIC POLICIES:“President Obama told supporters at a fundraiser in Miami Monday night that he deserves credit for cleaning up the mess he inherited.” (David Boyer, “Obama wants credit for cleaning up ‘big mess,'” Washington Times, 06/14/11)


DNC CHAIR CLAIMS OBAMA “TURN[ED] THIS ECONOMY AROUND”: “We were able to, under President Obama’s leadership, turn this economy around.”(Remarks from Rep. Debbie Wasserman Schultz, NBC’s Meet the Press, 6/12/2011)