Dems’ New Year’s Resolution: More Job-Destroying Debt, Regulations and Taxes

January 2, 2012

After Three Years of Job Destruction, Democrats Will Likely Push for More of the Same in 2012

Watching the Democrats in 2011 felt a little bit like déjà vu. Despite receiving a historic electoral shellacking in 2010, Washington Democrats continued pushing for more of the same failed stimulus and defending the very policies that have made a bad economy worse.
The result was new record highs in the national debt and an ongoing onslaught of new job-destroying regulations and taxes.
If Democrats failed to learn their lesson after 2010, there’s little reason to think they will listen to the American people and stop pushing their job-destroying policies in 2012. However, the American people sure do wish Democrats would listen.

BACKGROUND

Watching the Democrats in 2011 felt a little bit like déjà vu. Despite receiving a historic electoral shellacking in 2010, Washington Democrats continued pushing for more of the same failed stimulus and defending the very policies that have made a bad economy worse:

98% OF HOUSE DEMOCRATS REFUSE TO REPEAL GOVERNMENT TAKEOVER OF HEALTHCARE: Final Vote: 245-189 (House Vote #14, 1/19/2011)

DEMOCRATS PUSH FOR MORE STIMULUS:

100 DEMOCRATS RALLY AROUND OBAMA’S CALLS FOR MORE STIMULUS: (Thomas.gov, Accessed 12/29/2011)

WHITE HOUSE SAYS “WE CAN’T WAIT” FOR MORE STIMULUS, EVEN THOUGH THE FIRST ONE FAILED: “President Obama’s growing impatience with Congress’ refusal to ‘pass this bill now’ has launched a new approach — bypassing Congress by taking actions that don’t require congressional support and insisting that ‘We Can’t Wait’ for any more delays on Capitol Hill.” (“President Begins ‘We Can’t Wait’ Economic Push,” Fox News, 10/24/2011

DEMS DEMAND $2 TRILLION IN NEW TAXES DESPITE WEAK ECONOMY:

OBAMA PROPOSED $1.5 TRILLION IN NEW TAXES IN SEPTEMBER DEFICIT SPEECH: (Jim Kuhnhenn, “Obama to Propose $1.5 Trillion in New Tax Revenue,” Associated Press, 9/19/2011)

IN ADDITION TO $467 BILLION IN TAX HIKES TO PAY FOR STIMULUS 2.0: (Neil Munro, “Obama Asks for $467-Billion Tax Increase to Fund Jobs Plan,” The Daily Caller, 9/12/2011)

The result was new record highs in the national debt and an ongoing onslaught of job-destroying new regulations:

1.9 MILLION JOBS LOST SINCE OBAMA TOOK OFFICE: (Bureau of Labor Statistics, Accessed 11/7/2011)

NATIONAL DEBT STANDS AT $15.13 TRILLION: (“The Daily History of the Debt Results,” TreasuryDirect.Gov, Accessed 1/2/2012)

A $4.5 TRILLION INCREASE IN NATIONAL DEBT SINCE OBAMA TOOK OFFICE: (“The Daily History of the Debt Results,” TreasuryDirect.Gov, Accessed 12/23/2011)

OBAMA RECORD “THE MOST RAPID INCREASE IN THE DEBT UNDER ANY U.S. PRESIDENT”: (Mark Knoller, “National debt has increased $4 trillion under Obama,” CBS News’ Political Hotsheet Blog, 8/22/11)

AND THE REGULATORY ONSLAUGHT CONTINUES:

MORE MAJOR REGULATIONS AVERAGED UNDER OBAMA THAN UNDER BUSH OR CLINTON:“According to an analysis of the Federal Register by George Mason University’s Mercatus Center, the Cabinet departments and agencies finalized 84 such regulations annually on average in President Obama’s first two years. The annual average under President Bush was 62 and under President Clinton 56.” (Editorial, “Regulation for Dummies,” Wall Street Journal, 12/15/2011)

“EVIDENCE IS OVERWHELMING” THAT “OBAMA REGULATORY SURGE IS ONE REASON THE CURRENT ECONOMIC RECOVERY HAS BEEN SO LACKLUSTER”: (Editorial, “Regulation for Dummies,” Wall Street Journal, 12/15/2011)

NEW EPA RULE TO DESTROY 183,000 JOBS A YEAR, 1.65 MILLION JOBS DESTROYED THROUGH 2020: (“EPA Finalizes New Rule That Will Hurt American Economy,” American Coalition for Clean Coal Electricity, 12/21/2011)

NEW EPA FUEL ECONOMY RULE TO COST ECONOMY AT LEAST $157 BILLION: “Under this new rule, America’s fleet of passenger cars and light trucks will have to meet an average of 54.5 miles per gallon by 2025, a doubling of today’s average of about 27 mpg. By the EPA’s estimate the rule will cost $157 billion, meaning the real number is vastly greater.” (Editorial, “The United States of EPA,” The Wall Street Journal, 11/28/2011)

EPA EFFECTIVELY SEEKING TO IMPOSE JOB-DESTROYING REGULATIONS SO RADICAL THAT EVEN A DEMOCRAT CONGRESS COULDN’T PASS THEM: “The EPA is seeking to impose, by fiat, greenhouse gas reductions that even a Democratic Congress rejected with the Waxman-Markey bill in 2009, and that would drive policy at least 13 years past this Administration. It’s all more than a tad authoritarian. Welcome to the Obama-Jackson Presidency.” (Editorial, “The United States of EPA,” The Wall Street Journal, 11/28/2011)

TEXAS PUBLIC POLICY CENTER: “NEVER IN ITS 40-YEAR HISTORY HAS EPA PROMULGATED … SO MANY COSTLY NEW REGULATORY DICTATES”; “COULD COST MORE THAN $1 TRILLION,” DESTROY HUNDREDS OF THOUSANDS OF JOBS: “As Kathleen White of the Texas Public Policy Center told the House Energy and Commerce Committee earlier this year, ‘never in its 40-year history has EPA promulgated — at the same time — so many costly new regulatory dictates. The rules on track to go into effect in the next three years could cost more than $1 trillion and result in hundreds of thousands of jobs lost.'” (Editorial, “Obama’s EPA is Killing the Economy with Costly Rules,” The Washington Examiner, 11/26/2011)

If Democrats failed to learn their lesson after 2010, there’s little reason to think they will listen to the American people and stop pushing their job-destroying policies in 2012. However, the American people sure do wish Democrats would listen:

ECONOMISTS GRADE OBAMA “FAIR” OR “POOR”: “Half of the 36 economists who responded to the Dec. 14-20 Associated Press survey rated Mr. Obama’s economic policies ‘fair.’ And 13 called them ‘poor.’ Just five of the economists gave the president ‘good’ marks. None rated him as ‘excellent.'”(Paul Wiseman and Derek Kravitz, “Economists Grade Obama’s Policies ‘Fair’ or ‘Poor,'” Associated Press, 12/28/2011)

GALLUP: “IN U.S., FEAR OF BIG GOVERNMENT AT NEAR-RECORD LEVEL”: “The 64% of Americans who say big government will be the biggest threat to the country is just one percentage point shy of the record high, while the 26% who say big business is down from the 32% recorded during the recession. Relatively few name big labor as the greatest threat.” (Elizabeth Mendes, “In U.S., Fear of Big Government at Near Record Level,” Gallup, 12/12/2011)

CNN POLL: 70% OF AMERICANS THINK THE ECONOMY IS ON THE WRONG TRACK, ECONOMY REMAINS THE BIGGEST WORRY: (“CNN Poll: Economy Still Number 1 Worry,” CNN, 12/23/2011)

CBS NEWS POLL: JUST 41% THINK OBAMA DESERVES A SECOND TERM, 54% SAY HE DOESN’T: (Lucy Madison, “Obama Makes the Case for a Second Term,” CBS News, 12/11/2011)

MORE: OBAMA APPROVAL AT RECORD-LOW 33% ON ECONOMY: (Lucy Madison, “Obama Makes the Case for a Second Term,” CBS News, 12/11/2011)