Romney had Obama “tappin’ out” in the first round! WOW...I've never seen Obama like that...totally discombobulated.
For those of us who have followed Obama since his speech at the 2004 DNC, through ’08 election campaign…this is the first time we’ve seen him challenged on actual policy, false assertions on another candidate, and his own record. It is also the first time we’ve seen him “squirm”…he was obviously out of his league on issues…when hammered with THE MATH, and the reality we are faced with. Too bad he didn't have practice being called out from MSM.
The start was awarded to Obama on coin toss, and here’s how he started:
Well, thank you very much, Jim, for this opportunity. I want to thank Governor Romney and the University of Denver for your hospitality.There are a lot of points I want to make tonight, but the most important one is that 20 years ago I became the luckiest man on Earth because Michelle Obama agreed to marry me.
Good for you President Obama, but the most important thing to American people is…
Perhaps, for those trying to stay above it…we’ll give you pass on that, and just leave it at you were not eloquent in thinking that was a good idea.
Continuing on, Obama said:
And because of the resilience and the determination of the American people, we've begun to fight our way back. Over the last 30 months, we've seen 5 million jobs in the private sector created. The auto industry has come roaring back. And housing has begun to rise.
“The resilience of the American People” line he used in ’08 ain’t gonna cut it this time:
Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.
But look at it from Treasury’s point of view: What would it look like if they agreed to the deal and posted a multibillion dollar loss while the president was going around repeating the “Osama‘s dead and GM’s alive” mantra?
Again…the math Obama uses and THE MATH all the rest of use is decidedly different.
The money the government spent adds up quickly: $50 billion in TARP bailout funds, a special exemption waiving payment of $45.4 billion in taxes on future profits, an exemption for all product liability on cars sold before the bailout, $360 million in stimulus funds, and the $7,500 tax credit for those who buy the Chevy Volt. GM’s share of other programs is harder to quantify but includes, for example, some of the $15.2 billion that went to Cash for Clunkers. Those costs are in addition to the billions taken from GM’s bondholders by the Obama administration.
A look at the accounting shows the trouble with contentions that much of the TARP money is getting paid back. The Obama administration compares the $50 billion in direct bailout funds with the price it will eventually be able to get for selling the GM stock it owns. But that assumes that the stock price won’t reflect government subsidies, including GM’s exemption from paying $45 billion in taxes. By the Obama administration’s logic, if the stimulus grants to TARP recipients were simply large enough, all the TARP money could be paid.
Claims that GM paid back its TARP loan are true but misleading. President Obama clearly wants to create the impression that all the money given to the auto companies has been paid back. But the $6.7 billion loan to GM was just a tiny fraction of the money given to it. As TARP special inspector general Neil Barofsky explained, GM used “other TARP money” to pay off the loan.
So what about President Obama’s boast in a White House speech in late April that the bailout “saved probably a million jobs” and that “GM is now the number-one automaker again in the world”?
The “million jobs” contention is quite a stretch. Before filing for bankruptcy in July 2009, GM had 91,000 employees in the United States. You can reach a 400,000 total by assuming that all of GM’s jobs, as well as all the jobs of its parts suppliers and car dealers, would have been lost. Last year, employment in the entire automotive industry in the U.S. (counting Ford, Toyota, and other companies and their suppliers, in addition to GM and Chrysler) was only 717,000.
And…any jobs “created,” were not only in lower paying positions, but also were absorbing higher paying jobs lost…middleclass….as Joe Biden said…are being “buried.”
Neither candidate thoroughly addressed the housing crisis, and it's significant impact on our dismal economy, which should concern all of us. But Obama said “housing has begun to rise”…REALLY? Where? Why? For Who? And to What degree?!! The foreclosure crisis is still very much alive and well, and is central to our economic crisis, but it was not addressed with solutions in this debate on our economy? I call both of them out on this…Romney for no specific plan that he would do, and Obama more for his on-going false hope and lying, and not taking responsibility tonight for the utter failure of his housing/HAMP plan he did:
2011: Enter “Robo-Signing”….hmmmm, don’t remember any bankers going to prison over this! Funny, scandal didn’t break until after 2010 midterm elections.
We saw that Romney has an authoritative mastery of the correct MATH and quickly unnerved Obama, as the Obama record Romney effectively outlined, has been an utter failure..$90 billion to mostly failed Green Energy Companies? In ADDITION to GM abysmal failure. Obama MATH says “the auto industry has come roaring back”…really?!!
Romney displayed the frustration, anger, passion, and first hand KNOWLEDGE that American voters feel, before coupling it up with substantive policy solutions, and THE MATH of this current administrations’ policies. He talked to those most hurt by current policies, THE MATH, and how he would change it…vs more RHETORIC from Obama who has had three years to do what he says he will.
Let’s take a look back…this covers it all from Obama 08:
"So now I want to hire another 100,000 new math and science teachers, and create 2 million more slots in our community colleges so that people can get trained for the jobs that are out there right now. And I want to make sure that we keep tuition low for our young people."
Ask yourself…is that Obama quote from tonight’s debate…or a campaign speech from ’08? Perhaps it was a state of the Union address...take your pick.
“Mr. Obama followed up over the weekend in his weekly address: “it should concern everyone that right now—all across America—tens of thousands of teachers are getting laid off. In Pennsylvania alone, there are 9,000 fewer educators in our schools today than just a year ago. In Ohio, the number is close to 7,000. And nationwide, over the past three years, school districts have lost over 250,000 educators....I hope you’ll join me in telling Congress to do the right thing; to get to work and to help get our teachers back in the classroom”
This is a critical difference…we got a business guy doing THE MATH, and a record of bringing BOTH SIDES TOGETHER vs a guy who simply believes in the “resilience of American people” his standard lines to solve problems, blaming everyone else, and then going on to divide our country.
Here’s the reality Obama does not think you can handle, understand, or care about:
Do THE MATH…we have a candidate who showed he has his finger on the pulse of our economy. We have a candidate who while not glamorous, and does not have “celebrity” status…knows our MATH, and will have our backs as a country.
If this is any indicator, Foreign policy Debate will just be a thorough "tappin' out" of this President!
Do the math…Romney 2012!