A central theme of the Obama campaign is that a Romney victory will be a return to the "failed policies of the past." Unlike most other campaign rhetoric, this is one claim that can be objectively evaluated.
According the U.S. Bureau of Labor Statistics:
Jobs created (first four years — Pres. Reagan, 5M, Pres. Obama minus 1M.
Unemployment rate (end of term) — Pres. Reagan 5.3%, Pres. Bush 7.3%, Pres. Obama 8.3%.
Poverty rate (end of term) — Pres. Reagan 13.5%, Pres. Bush 14.3%, Pres. Obama 15.7%
Added to the public debt (first four years) — Pres. Reagan $0.7 trillion, Pres. Bush $2.1 trillion, Pres. Obama $4.1 trillion.
Your share of the public debt (end of term) — Pres. Reagan $11,600, Pres Bush $40,200, Pres. Obama $51,200.
Middle class annual income adjusted for inflation (end of term) — Pres. Reagan $50,000, Pres. Bush $53,000, Pres. Obama $50,000.
According to the World Economic Forum, U.S. global competitiveness rank during the Obama term has declined from first to seventh. These facts do not bear out President Obama's claim. In fact, they clearly show the opposite is true. Our economy cannot withstand another four years of the policies of the Obama administration.
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