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October 23, 2011

Biden Vs. Economic RealityAmericans Are Well Aware ThatVice President Bidens Claims About

The Economy Just Dont Match The Facts_____________________________________________________________________

BIDEN CLAIMS THE STIMULUS DID VERY GOOD THINGS FOR THE ECONOMY

Biden Claims The $825 Billion Stimulus Worked. CNNsCANDY CROWLEY: Aren't people also sayinglook we did almost $1 trillion in stimulus spending, and you all at that time said oh, unemployment won't

go above 8%, GDP will be a lot higher than it is now and it isn't, and so now we need another leap withthe jobs bill.VICE PRESIDENT JOE BIDEN: No. Look, heres the deal. Nobody can look you in the eye andtell you that the Recovery Act and that stimulus did not create jobs and did not do very good things forthe economy. (CNNs State Of The Union, 10/23/11)

REALITY CHECK ON THE STIMULUS

Since The First $825 BillionStimulus Was Passed, The Nation Has Lost 1.5 Million Jobs And TheUnemployment Rate Has Remained Over 8 Percent For A Post-WWII Record 32 Straight Months.(Bureau Of Labor Statistics, BLS.gov, Accessed 10/03/311)

Unemployment Next Year Could Remain Higher Than 8 Percent, Meaning No Job GrowthAfter The Biggest Stimulus Package In The History Of The World. The White Houseanticipates unemployment at 8.25 percent and Goldman Sachs and others warn the number couldbe higher close to 9 percent, which would mean no net job growth after the biggest stimuluspackage in the history of the world.(Jim VandeHei and Mike Allen, Obamas Big Drags,Politico, 8/4/11)

Unless The Economy Turns Around In The Next 18 Months, Obama Is On Track To Have TheWorst Jobs Record Of Any President In The Modern Era. That Would Be An Accurate Statement.(Glenn Kessler, Rick Perrys Claim That Obama Has Killed More Jobs Than Any Other President,The Washington Posts The Fact Checker,8/22/11)

Barring An Economic Miracle, Obama Will Likely Enter The Heart Of The Campaign SeasonWith Unemployment North Of 8%.(Charles Riley, Jobs Report: Good News For Obama? Not Exactly, CNN Money,10/7/11)

In 2010, The Number Of Americans Living In Poverty (46.2 Million) Reached The Highest Level On

Record.The nation's official poverty rate in 2010 was 15.1 percent, up from 14.3 percent in 2009 thethird consecutive annual increase in the poverty rate. There were 46.2 million people in poverty in 2010,up from 43.6 million in 2009 the fourth consecutive annual increase and the largest number in the 52years for which poverty estimates have been published. (Press Release, Income, Poverty And Health Insurance Coverage In TheUnited States: 2010,U.S. Census Bureau, 9/13/11)

In 2010, Median Household Incomes Fell To $49,445 The Lowest In More Than ADecade.The declines followed news from the Census Bureau that median household income in

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2010 fell to $49,445, the lowest in more than a decade, and the poverty rate jumped to 15.1percent, a 17-year high. (Sho Chandra, Falling U.S. Wages Threaten Consumer Spending,Bloomberg, 10/3/11)

AND ON THE ECONOMY, BIDEN SAYS IT IS BETTER

Biden Says The Economy Is Better. CNNs CANDY CROWLEY: Do you think that's good enough toreelect the Obama-Biden team? It would have been worse? VICE PRESIDENT JOE BIDEN: The answer is- that's not the argument, it would have been worse. It is better, number one, and number two, everythingis a choice. Theres a clear choice emerging here (CNNs State Of The Union, 10/23/11)

BUT OBAMA SAID AMERICANS ARENT BETTER OFF THAN THEY WERE FOUR YEARS AGOPresident Obama Admits That Americans Are Not Better Off Than They Were Four Years Ago.OBAMA: Well I dont think they are better off than they were four years ago. Theyre not better off thanthey were before Lehmans collapse, before the financial crisis, before this extraordinary recession thatwere going through.(ABC News/Yahoo News Live Interview, 10/3/11)

Every Re-Election Race From City Council To President Ultimately Comes Down To A SimpleQuestion: Are You Better Off Than You Were (Fill-In-The-Blank) Years Ago?(Chris Cillizza and Aaron Blake,President Obamas Are You Better Off Problem, The Washington Posts The Fix, 9/6/11)

And That Is AMajorProblem For President Obama Heading Into His Re-Election Race NextFall.(Chris Cillizza and Aaron Blake, President Obamas Are You Better Off Problem, The Washington Posts The Fix, 9/6/11)

President Barack Obama's 11th Quarter In Office Was The Worst Of His Administration, Based OnHis QuarterlyAverage Job Approval Ratings.(Jeffrey M. Jones, Obama Approval Average Slides To New Low In 11thQuarter,Gallup,10/21/11)

Among Those Surveyed, Less Than 40 Percent Say Obama's Proposed Remedies For HighUnemployment Would Increase Jobs Significantly. (Jim Kuhnhenn And Jennifer Agiesta, AP-GfK Poll: Hope WeakFor Economy, Obama Remedies,The Associated Press, 10/20/11)

Less Than A Third Think That Obamas Policies Have Helped Create Opportunities For Them ToGet Ahead. Just 31 percent of those polled said that his agenda has increased opportunity for peoplelike you to get ahead, while 37 percent said it has decreased their opportunities and 26 percent said it

has had no effect.(Ronald Brownstein, The President,

National Journal,10/14/11) A Huge Swath Of Americans 77 Percent Told Pollsters They Think The Economy Is

Currently In A Recession. (Mackenzie Weinger, Pollster: Trend Isnt Good For Obama,Politico,10/6/11)

Just 11 Percent Say They Think The Economy Is Improving, Compared With 44 PercentWho Said They Believe It Is Getting Worse.(Mackenzie Weinger, Pollster: Trend Isnt Good For Obama,Politico,10/6/11)

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