As Dems Keep Digging, Middle Class Gets Buried

October 3, 2012

As Dems Keep Digging, Middle Class Gets Buried

Vice President Says Dems’ Failed Policies Have “Buried” the Middle Class Over the Last Four Years, But Dems Are Already Planning How to Bury Them With Even More

Vice President Joe Biden yesterday admitted that the middle class has been “buried the last four years” by the Democrats’ failed policies.
All the while Democrats have been holding the shovels, piling on debt with failed spending sprees that outsourced jobs to countries like China and loading on job-destroying new regulations like ObamaCare.
Worse yet, Democrats are already planning on how to bury the middle class with even more of these failed policies if they’re given a chance.

Vice President Joe Biden yesterday admitted that the middle class has been “buried the last four years” by the Democrats’ failed policies:

“BIDEN: U.S. MIDDLE CLASS ‘BURIED THE LAST FOUR YEARS’”: (Patricia Zengerle, “Biden: U.S. Middle Class ‘Buried the Last Four Years,’” Reuters, 10/2/2012)

BIDEN WAS “DEADLY EARNEST”: “”This is deadly earnest. How they can justify … raising taxes on the middle class that has been buried the last four years?” (Patricia Zengerle, “Biden: U.S. Middle Class ‘Buried the Last Four Years,’” Reuters, 10/2/2012)

All the while Democrats have been holding the shovels, piling on debt with failed spending sprees that outsourced jobs to countries like China and loading on job-destroying new regulations like ObamaCare:

RECORD UNEMPLOYMENT

368,000 AMERICANS GAVE UP LOOKING FOR WORK IN THE OBAMA ECONOMY LAST MONTH: (Jeff Cox, “New Jobs at 96,000, Missing Expectations; Rate Hits 8.1%,” CNBC, 9/7/2012)

23 MILLION UNEMPLOYED, UNDEREMPLOYED AND DISCOURAGED WORKERS: (“The Employment Situation—August 2012,” Bureau of Labor Statistics, 9/7/2012)

UNEMPLOYMENT ABOVE 8% FOR 43 STRAIGHT MONTHS UNDER OBAMA, MORE THAN 11 PREVIOUS PRESIDENTS COMBINED: (Bureau of Labor Statistics, 9/7/2012)

UNEMPLOYMENT TO “REMAIN ELEVATED FOR ANOTHER FIVE TO SIX YEARS”: “Federal Reserve officials agreed at a meeting in June that unemployment would remain elevated for another five to six years, but most did not regard that as a reason for the Fed to expand its efforts to stimulate growth, according to an official account published Wednesday.” (Binyamin Appelbaum, “Fed is Torn on Tipping Point for Action,” The New York Times, 7/11/2012)

PEW: “A RECOVERY NO BETTER THAN THE RECCESION”: (Rakesh Kochar, “A Recovery No Better Than the Recession,” Pew Research Center, 9/12/2012)

A FAILED STIMULUS, OUTSOURCING TO CHINA AND RISING DEBT

“HOUSEHOLD INCOME DOWN 8.2 PERCENT SINCE OBAMA TOOK OFFICE”: (“Household Income Down 8.2 Percent Since Obama Took Office,” Fox News, 9/26/2012)

MEDIAN INCOME WAS $55,198 WHEN OBAMA TOOK OFFICE; IT IS $50,678 TODAY: (“Household Income Down 8.2 Percent Since Obama Took Office,” Fox News, 9/26/2012)

STUDY: U.S. INCOMES FELL MORE AFTER STIMULUS THAN DURING RECESSION: (Jeff Kearn, “U.S. Incomes Fell More in Recovery, Sentier Says,” Bloomberg, 8/23/2012)

PRICE TAG FOR FAILED STIMULUS: $833 BILLION: (Congressional Budget Office, 8/23/2012)

FACTCHECK.ORG: STIMULUS DOLLARS “DEFINITELY” WENT TOWARDS CREATING JOBS IN CHINA, CHINESE COMPANIES GOT $2.6 MILLION: “As we know from Choma’s exhaustive research, it is true that foreign-owned companies have received $2.4 billion in grants to build wind farms in the U.S. Choma gives this breakdown: Spain, $1.1 billion; Germany, $474.4 million; Portugal, $333 million; Australia, $178 million; Japan, $130.5 million; Italy, $84.2 million; France, $69.5 million; United Kingdom, $42.2 million; China, $2.6 million. Choma said wind turbines have 8,000 components and he found proof that some of them were manufactured in China and other countries. … In a blog post on Sept. 27, Choma wrote: ‘…we can’t say for sure how much of this stimulus money went to create jobs in China. Some money definitely did, but it is safe to say more money went to creating jobs in the U.S. and Europe.’” (Eugene Kiely, Lara Seligman, Lauren Hitt and Melissa Siegel, “Stimulus Jobs in China?,” FactCheck.org, 10/29/2010)

CHINA OWNS $1.15 TRILLION IN U.S. DEBT: (“Major Foreign Holders of Treasury Securities,” U.S. Department of the Treasury, 9/18/2012)

$5.53 TRILLION INCREASE IN NATIONAL DEBT SINCE OBAMA TOOK OFFICE: (“The Daily History of the Debt Results,” Bureau of the Public Debt, Accessed 10/2/2012)

NATIONAL DEBT CURRENTLY STANDS AT $16.16 TRILLION; SIZE OF NATION’S ECONOMY AT $15.59 TRILLION: (“The Daily History of the Debt Results,” Bureau of the Public Debt, Accessed 10/2/2012; Bureau of Economic Analysis, Accessed 9/18/2012)

JOB-DESTROYING OBAMACARE REGULATIONS

UBS RESEARCH: OBAMACARE IS “ARGUABLY THE BIGGEST IMPEDIMENT TO HIRING”: (“Great Suppression II,” UBS Research, Pgs.1, 5, 9/19/2011)

INTERNATIONAL FRANCHISE ASSOCIATION: “3.2 MILLION JOBS AT FRANCHISE BUSINESSES CONTINUE TO BE PUT AT RISK”:(“High Court Ruling Puts Jobs at Franchise Businesses at Risk,” International Franchise Association, 6/28/2012)

NFIB STUDY: 249K JOBS, 150K FROM SMALL BUSINESS, COULD BE DESTROYED BY OBAMACARE’S HEALTH INSURANCE TAX: (“NFIB Research Foundation Study: Health Insurance Tax to Cost 125,000 to 249,000 Private-Sector Jobs,” NFIB, 11/9/2011)

STUDY: OBAMACARE MEDICAL DEVICE TAX WILL SEND JOBS TO CHINA AND INDIA: “The United States is the world’s leading exporter of medical devices, and each new industry job adds more than four to the overall U.S. economy. An industry report claims that 43,000 U.S. jobs will be lost because of the tax, many of them to foreign countries such as India and China, where labor, taxes and raw materials are cheaper. That’s more than 10 percent of the nation’s 422,000 medical-device workers.” (Tony Pugh, “Medical Device Makers Push Congress to Repeal Excise Tax,” McClatchy News, 9/22/2011)

AT LEAST 14,500 JOBS OR AS MANY AS 47,000 JOBS COULD BE DESTROYED BY OBAMACARE’S HEART ATTACK TAX: (Michael Ramlet, Robert Book and Han Zhong, “The Economic Impact of the Medical Device Tax,” American Action Forum, 6/4/2012)

Worse yet, Democrats are already planning on how to bury the middle class with even more of these failed policies if they’re given a chance:

“DEMOCRATS LAY OUT SECOND-TERM WISHLIST FOR PRESIDENT OBAMA”:(Mike Lillis, “Democrats Lay Out Second-Term Wish List for Obama,” The Hill, 9/29/2012)

A LITTLE LATE? SOME DEMOCRATS PROPOSE “PLACING A FOCUS ON JOBS AND THE ECONOMY”: (Mike Lillis, “Democrats Lay Out Second-Term Wish List for Obama,” The Hill, 9/29/2012)

OTHER DEMOCRATS WANT TO BEEF UP THEIR GOVERNMENT HEALTHCARE TAKEOVER: “Honda, meanwhile, wants Obama to return to healthcare reform – the issue that consumed more than a year between 2009 and 2010 – to expand on the state-based insurance exchanges enacted under the Affordable Care Act. ‘We’ve got more to do,’ he said. ‘There should be a federal exchange.’” (Mike Lillis, “Democrats Lay Out Second-Term Wish List for Obama,” The Hill, 9/29/2012)

CAP-AND-TRADE ON THE HORIZON? “ ‘We should get back to an energy policy – one that acknowledges that climate change is real,’ said Rep. Peter Welch (D-Vt.).” (Mike Lillis, “Democrats Lay Out Second-Term Wish List for Obama,” The Hill, 9/29/2012)

As Dems Keep Digging, Middle Class Gets Buried http://ow.ly/eaAB2