Changes

According to conservative investigative journalist [[Peter Schweizer]], Obama weaponized the regulatory process to help his friends buy businesses that had been devalued through Obama Administration policies.<ref>Kraychik, Robert (March 20, 2018). [https://www.breitbart.com/radio/2018/03/20/smash-grab-schweizer-explains-how-obama-weaponized-regulations-enrich-buddies/ ‘Smash and Grab’: Schweizer Explains How Obama Weaponized Regulations to Enrich His Buddies]. ''Breitbart News''. Retrieved March 20, 2018.</ref>

According to conservative investigative journalist [[Peter Schweizer]], Obama weaponized the regulatory process to help his friends buy businesses that had been devalued through Obama Administration policies.<ref>Kraychik, Robert (March 20, 2018). [https://www.breitbart.com/radio/2018/03/20/smash-grab-schweizer-explains-how-obama-weaponized-regulations-enrich-buddies/ ‘Smash and Grab’: Schweizer Explains How Obama Weaponized Regulations to Enrich His Buddies]. ''Breitbart News''. Retrieved March 20, 2018.</ref>

=====Stimulus=====

'''Stimulus'''

{{See also|Recovery Summer}}

{{See also|Recovery Summer}}

In early 2009, Obama lobbied Congress and the public to pass a sweeping Stimulus package<ref>(2009, January 3). "[http://www.msnbc.msn.com/id/28479998/ns/politics-white_house/t/obama-urges-congress-pass-stimulus-plan/ Obama Urges Congress to Pass Stimulus Plan]." ''Associated Press''.<br>Parsons, C. & Nicholas, P. (2009, February 10). "[http://www.msnbc.msn.com/id/28479998/ns/politics-white_house/t/obama-urges-congress-pass-stimulus-plan/ Barack Obama Sternly Urges Congress to Pass Economic Stimulus]." ''Chicago Tribune''.</ref> known as ''The American Recovery and Reinvestment Act of 2009'' (H.R. 1).<ref>"[http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.1: Bill Text Versions: H.R. 1]." 111th Congress (2009-2010). ''[[Library of Congress]]''.<br>"[https://www.irs.gov/newsroom/article/0,,id=204335,00.html The American Recovery and Reinvestment Act of 2009: Information Center]." ''[[IRS]]''.</ref> The report of the Congressional Budget Office mandated by law stated that the legislation would ultimately harm the economy.<ref>Dinan, S. (2009, February 4). "[https://www.washingtontimes.com/news/2009/feb/04/cbo-obama-stimulus-harmful-over-long-haul/ CBO: Obama Stimulus Harmful Over Long Haul]." ''U.S. News''.</ref> Contrary to his promise of bipartisanship,<ref>Dinan, S. (2009, March 28). "[https://www.washingtontimes.com/news/2009/mar/28/mccain-obama-breaks-campaign-promises-shuns-bipart/?page=all McCain: Obama Breaks Promise of Bipartisanship]." ''[[Washington Times]]''.</ref> the bill passed the House 244-188 on January 28, 2009, with 11 Democrats voting with the entire Republican caucus against,<ref>Calmes, J. (2009, January 28). "[https://www.nytimes.com/2009/01/29/us/politics/29obama.html House Passes Stimulus Plan With No G.O.P. Votes]." ''The New York Times''.</ref> and received just 3 Republican votes when passing the Senate 61-37.<ref>Herszenhorn, D.M. (2009, February 10). "[https://www.nytimes.com/2009/02/11/washington/11web-stim.html Senate Approves Stimulus Plan]." ''The New York Times''.</ref> One third of the massive $838 billion bill consisted of [[Backdoor spending authority#Backdoor tax expenditures|backdoor tax expenditures]]<ref>(2009, February 11). "Senate Passes $838 Billion Stimulus Bill." ''Associated Press''.</ref> and the rest direct [[new spending]] on "just about every pent-up Democratic proposal of the last 40 years."<ref>(2009, January 28). "[http://online.wsj.com/article/SB123310466514522309.html A 40-Year Wish List]." ''Wall Street Journal''.</ref> In responding to criticism of the broken bipartisanship promise at the time, House Speaker Nancy Pelosi famously quipped, "We won the election. We wrote the bill."<ref>Kane, P. (2009, January 23). "[https://www.washingtonpost.com/wp-dyn/content/article/2009/01/22/AR2009012203961.html Stimulus Plan Meets More GOP Resistance]." ''Washington Post''.</ref> On February 18, 2009, the Stimulus was signed into law by Obama.<ref>(2009, February 17). "[http://www.msnbc.msn.com/id/29231790/ns/politics-white_house/t/obama-stimulus-lets-americans-claim-destiny/ Obama: Stimulus Lets Americans Claim Destiny]." ''Associated Press''.</ref> In August 2009, Republicans and Democratic Senator David Obey drew attention to mistakes on the Recovery.gov site claiming millions of Stimulus jobs created that didn't exist. Obama responded by saying the errors just indicate his accounting is an "inexact science".<ref>(2009, November 18). "[http://www.foxnews.com/politics/2009/11/18/obama-calls-stimulus-data-errors-issue-says-focus-job-growth/ Obama Calls Stimulus Data Errors 'Side Issue,' Says Focus Is on Job Growth]." ''[[Fox News]]''.</ref>

In early 2009, Obama lobbied Congress and the public to pass a sweeping Stimulus package<ref>(2009, January 3). "[http://www.msnbc.msn.com/id/28479998/ns/politics-white_house/t/obama-urges-congress-pass-stimulus-plan/ Obama Urges Congress to Pass Stimulus Plan]." ''Associated Press''.<br>Parsons, C. & Nicholas, P. (2009, February 10). "[http://www.msnbc.msn.com/id/28479998/ns/politics-white_house/t/obama-urges-congress-pass-stimulus-plan/ Barack Obama Sternly Urges Congress to Pass Economic Stimulus]." ''Chicago Tribune''.</ref> known as ''The American Recovery and Reinvestment Act of 2009'' (H.R. 1).<ref>"[http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.1: Bill Text Versions: H.R. 1]." 111th Congress (2009-2010). ''[[Library of Congress]]''.<br>"[https://www.irs.gov/newsroom/article/0,,id=204335,00.html The American Recovery and Reinvestment Act of 2009: Information Center]." ''[[IRS]]''.</ref> The report of the Congressional Budget Office mandated by law stated that the legislation would ultimately harm the economy.<ref>Dinan, S. (2009, February 4). "[https://www.washingtontimes.com/news/2009/feb/04/cbo-obama-stimulus-harmful-over-long-haul/ CBO: Obama Stimulus Harmful Over Long Haul]." ''U.S. News''.</ref> Contrary to his promise of bipartisanship,<ref>Dinan, S. (2009, March 28). "[https://www.washingtontimes.com/news/2009/mar/28/mccain-obama-breaks-campaign-promises-shuns-bipart/?page=all McCain: Obama Breaks Promise of Bipartisanship]." ''[[Washington Times]]''.</ref> the bill passed the House 244-188 on January 28, 2009, with 11 Democrats voting with the entire Republican caucus against,<ref>Calmes, J. (2009, January 28). "[https://www.nytimes.com/2009/01/29/us/politics/29obama.html House Passes Stimulus Plan With No G.O.P. Votes]." ''The New York Times''.</ref> and received just 3 Republican votes when passing the Senate 61-37.<ref>Herszenhorn, D.M. (2009, February 10). "[https://www.nytimes.com/2009/02/11/washington/11web-stim.html Senate Approves Stimulus Plan]." ''The New York Times''.</ref> One third of the massive $838 billion bill consisted of [[Backdoor spending authority#Backdoor tax expenditures|backdoor tax expenditures]]<ref>(2009, February 11). "Senate Passes $838 Billion Stimulus Bill." ''Associated Press''.</ref> and the rest direct [[new spending]] on "just about every pent-up Democratic proposal of the last 40 years."<ref>(2009, January 28). "[http://online.wsj.com/article/SB123310466514522309.html A 40-Year Wish List]." ''Wall Street Journal''.</ref> In responding to criticism of the broken bipartisanship promise at the time, House Speaker Nancy Pelosi famously quipped, "We won the election. We wrote the bill."<ref>Kane, P. (2009, January 23). "[https://www.washingtonpost.com/wp-dyn/content/article/2009/01/22/AR2009012203961.html Stimulus Plan Meets More GOP Resistance]." ''Washington Post''.</ref> On February 18, 2009, the Stimulus was signed into law by Obama.<ref>(2009, February 17). "[http://www.msnbc.msn.com/id/29231790/ns/politics-white_house/t/obama-stimulus-lets-americans-claim-destiny/ Obama: Stimulus Lets Americans Claim Destiny]." ''Associated Press''.</ref> In August 2009, Republicans and Democratic Senator David Obey drew attention to mistakes on the Recovery.gov site claiming millions of Stimulus jobs created that didn't exist. Obama responded by saying the errors just indicate his accounting is an "inexact science".<ref>(2009, November 18). "[http://www.foxnews.com/politics/2009/11/18/obama-calls-stimulus-data-errors-issue-says-focus-job-growth/ Obama Calls Stimulus Data Errors 'Side Issue,' Says Focus Is on Job Growth]." ''[[Fox News]]''.</ref>

=====[[Sequestration]]=====

'''[[Sequestration]]'''

 

According to [[Pulitzer Prize]] winning journalist [[Bob Woodward]] of the ''[[Washington Post]]'', Obama misled the American people in a Presidential debate only two weeks before the 2012 election when he said, "The sequester is not something that I’ve proposed,”<ref>[http://articles.washingtonpost.com/2013-02-22/opinions/37238840_1_jack-lew-treasury-secretary-rob-nabors Obama’s sequester deal-changer,] By Bob Woodward, ''Washington Post'', February 22, 2013.</ref>  when in fact his chief budget negotiator and current Chief of Staff, [[Jack Lew]], made a call to Democrat [[Harry Reid]] at 2:30 pm on July 27, 2011 with the proposal after clearing it with Obama,<ref>[https://dailycaller.com/2012/10/22/fact-check-woodward-wrote-that-obama-administration-proposed-sequester/ Fact-check: Woodward wrote that Obama administration proposed sequester]. [[The Daily Caller]]</ref> as fully documented in Woodward's book, ''The Price of Politics''. Federal Reserve Chairman [[Ben Bernanke]] warned of immediate jobloss of about 750,000 jobs – about the same level as under George W. Bush<ref>[http://research.stlouisfed.org/fred2/graph/fredgraph.png?graph_id=109262 Monthly Jobloss under George W. Bush, Jan 2007 - Jan 2009]. See also [http://research.stlouisfed.org/fred2/graph/fredgraph.png?graph_id=109266 Initial Unemployment Claims] over the same period, annualized. Source: [[U.S. Department of Labor]], Bureau of Labor Statistics.</ref> – if Obama's budget and economic plans were allowed to take effect.<ref>[https://money.cnn.com/2013/02/26/news/economy/bernanke-burden-recovery/ Bernanke: Spending cuts add 'significant' burden to recovery,] By Annalyn Kurtz, CNN February 26, 2013.</ref>

According to [[Pulitzer Prize]] winning journalist [[Bob Woodward]] of the ''[[Washington Post]]'', Obama misled the American people in a Presidential debate only two weeks before the 2012 election when he said, "The sequester is not something that I’ve proposed,”<ref>[http://articles.washingtonpost.com/2013-02-22/opinions/37238840_1_jack-lew-treasury-secretary-rob-nabors Obama’s sequester deal-changer,] By Bob Woodward, ''Washington Post'', February 22, 2013.</ref>  when in fact his chief budget negotiator and current Chief of Staff, [[Jack Lew]], made a call to Democrat [[Harry Reid]] at 2:30 pm on July 27, 2011 with the proposal after clearing it with Obama,<ref>[https://dailycaller.com/2012/10/22/fact-check-woodward-wrote-that-obama-administration-proposed-sequester/ Fact-check: Woodward wrote that Obama administration proposed sequester]. [[The Daily Caller]]</ref> as fully documented in Woodward's book, ''The Price of Politics''. Federal Reserve Chairman [[Ben Bernanke]] warned of immediate jobloss of about 750,000 jobs – about the same level as under George W. Bush<ref>[http://research.stlouisfed.org/fred2/graph/fredgraph.png?graph_id=109262 Monthly Jobloss under George W. Bush, Jan 2007 - Jan 2009]. See also [http://research.stlouisfed.org/fred2/graph/fredgraph.png?graph_id=109266 Initial Unemployment Claims] over the same period, annualized. Source: [[U.S. Department of Labor]], Bureau of Labor Statistics.</ref> – if Obama's budget and economic plans were allowed to take effect.<ref>[https://money.cnn.com/2013/02/26/news/economy/bernanke-burden-recovery/ Bernanke: Spending cuts add 'significant' burden to recovery,] By Annalyn Kurtz, CNN February 26, 2013.</ref>

Woodward, who's reporting on [[Watergate]] is credited with toppling the administration of [[Richard Nixon]], told Wolf Blitzer of CNN he was told by a senior White House official he'd regret talking about the President Obama's positions on the sequester.<ref>[http://www.businessinsider.com/bob-woodward-obama-sequester-white-house-reporting-price-politics-2013-2 Bob Woodward: White House Threatened Me On Sequester,] businessinsider.com</ref>

Woodward, who's reporting on [[Watergate]] is credited with toppling the administration of [[Richard Nixon]], told Wolf Blitzer of CNN he was told by a senior White House official he'd regret talking about the President Obama's positions on the sequester.<ref>[http://www.businessinsider.com/bob-woodward-obama-sequester-white-house-reporting-price-politics-2013-2 Bob Woodward: White House Threatened Me On Sequester,] businessinsider.com</ref>

=====Spreading poverty and raising the debt=====

'''Spreading poverty and raising the debt'''

 

Following the 2011 debt ceiling standoff between Obama and House Republicans,<ref name=Swann-Aug>{{cite web|url=http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8 |title=United States of America Long-Term Rating Lowered to 'AA+' on Political Risks and Rising Debt Burden; Outlook Negative |publisher=[[Standard and Poor's]] |date=August 5, 2011 |accessdate=April 3, 2013}}</ref> the United States Government's credit rating was, for the first time in its history, downgraded from AAA to AA+, and [[poverty]]<ref>[http://www.census.gov/hhes/www/poverty/data/incpovhlth/2009/pov09fig04.pdf Figure 4: Number in Poverty and Poverty Rate: 1959-2009]. ''[[U.S. Census Bureau]]''. Current Population Survey, 1960 to 2010 Annual Social and Economic Supplements.</ref> increased markedly. By and large, his programs, said to combat the recession, unemployment, slow growth, and deficits, have failed<ref>"The vast majority (73%) of respondents reported the fiscal stimulus enacted in February 2009 has had no impact on employment to date. While 68% also believe a jobs bill, such as the one recently enacted into law, will have no impact on payrolls, 30% do believe it will boost payrolls moderately".<br>[http://www.nabe.com/press/ind1004.pdf Industry Survey], ''National Association for Business Economics'', April 2010, p. 2.</ref> leaving the country saddled with an $18 trillion [[national debt]] and climbing.<ref>During Obama's first two years in office, the rate of new U.S. federal debt added per year to its total tripled the rate of new debt accumulated by Bush to place the U.S. on a war footing, and during Obama's first six years in office, the total National Debt has nearly doubled ($7.5 trillion added).  See [[National Debt]].</ref> One of his most well-known tactics was blaming someone else, such as George W. Bush, for all his failures instead of taking responsibility. Also on the domestic front, Obama passed an expensive [[health care]] bill in 2010 with no national consensus or [[bipartisan]] support and 34 Democrats dissenting. Recently, the [[Congressional Budget Office]] wrote an open letter to [[John Boehner]], the Speaker of the House, outlining the effects of repealing [[Obamacare]] and explaining why a net loss of over 100 billion dollars would occur from the repeal.<ref>[http://cbo.gov/publication/43471 Letter to the Honorable John Boehner providing an estimate for H.R. 6079, the Repeal of Obamacare Act], Congressional Budget Office</ref>

Following the 2011 debt ceiling standoff between Obama and House Republicans,<ref name=Swann-Aug>{{cite web|url=http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8 |title=United States of America Long-Term Rating Lowered to 'AA+' on Political Risks and Rising Debt Burden; Outlook Negative |publisher=[[Standard and Poor's]] |date=August 5, 2011 |accessdate=April 3, 2013}}</ref> the United States Government's credit rating was, for the first time in its history, downgraded from AAA to AA+, and [[poverty]]<ref>[http://www.census.gov/hhes/www/poverty/data/incpovhlth/2009/pov09fig04.pdf Figure 4: Number in Poverty and Poverty Rate: 1959-2009]. ''[[U.S. Census Bureau]]''. Current Population Survey, 1960 to 2010 Annual Social and Economic Supplements.</ref> increased markedly. By and large, his programs, said to combat the recession, unemployment, slow growth, and deficits, have failed<ref>"The vast majority (73%) of respondents reported the fiscal stimulus enacted in February 2009 has had no impact on employment to date. While 68% also believe a jobs bill, such as the one recently enacted into law, will have no impact on payrolls, 30% do believe it will boost payrolls moderately".<br>[http://www.nabe.com/press/ind1004.pdf Industry Survey], ''National Association for Business Economics'', April 2010, p. 2.</ref> leaving the country saddled with an $18 trillion [[national debt]] and climbing.<ref>During Obama's first two years in office, the rate of new U.S. federal debt added per year to its total tripled the rate of new debt accumulated by Bush to place the U.S. on a war footing, and during Obama's first six years in office, the total National Debt has nearly doubled ($7.5 trillion added).  See [[National Debt]].</ref> One of his most well-known tactics was blaming someone else, such as George W. Bush, for all his failures instead of taking responsibility. Also on the domestic front, Obama passed an expensive [[health care]] bill in 2010 with no national consensus or [[bipartisan]] support and 34 Democrats dissenting. Recently, the [[Congressional Budget Office]] wrote an open letter to [[John Boehner]], the Speaker of the House, outlining the effects of repealing [[Obamacare]] and explaining why a net loss of over 100 billion dollars would occur from the repeal.<ref>[http://cbo.gov/publication/43471 Letter to the Honorable John Boehner providing an estimate for H.R. 6079, the Repeal of Obamacare Act], Congressional Budget Office</ref>