In January of 2009, America was losing hundreds of thousands of jobs per month and the national debt had jumped tremendously in the years of the Bush administration. Today, the monthly unemployment numbers look better but the overall number is worse. The national debt has jumped more in the first three-plus years of the Obama administration than in all eight years of the Bush presidency. And we have trillion dollar deficits for as far as the eye can see.
In their new book, “Debacle”, Economist John Lott and Americans for Tax Reform President Grover Norquist make their case that President Obama’s term has been an economic nightmare and his policies have us headed in exactly the wrong direction.
“Not only has it left American families with about $100,000 in new debt per family, the stimulus increased unemployment temporarily so it’s a lose-lose situation,” Lott told WND.
Lott tells us why the Obama agenda has been bad for the country and why the president’s argument that things would be much worse without his actions is very weak.
Lott also offers a cursory prescription for turning around our huge debt and deficits.