Hugh Hewitt provides analysis of the O Presidency in today's Washington Examiner. To wit:
- In November 2008, unemployment was 6.7 percent. In January 2009 it was 7.6 percent. That January, Christine Romer, along with Vice President Biden's top economist, Jared Bernstein, argued in a report that the economic stimulus package would keep unemployment under 8 percent. Without the stimulus, Team Obama predicted employment would rise to about 9 percent in 2010. The "stimulus" passed, of course, unemployment is 9.6 percent.
- The country's debt at the end of 2008 was $5.8 trillion. It will be $9.8 trillion at the end of this year. The last annual deficit before the Democrats took over Congress in January 2007 was $160 billion. As a percentage of the nation's GDP, the deficit in 2010 will be 10.64 percent. In 2008 it was 3.18 percent. [That's a 300% increase!]
- The November 2008 average price of a home in top 20 metropolitan markets in the United States, using the Case-Shiller index, was $154,500. The June 2010 average price for the same index -- the most recent data available and published in late August -- is $148,000. That number is widely believed to have been buoyed by the now-disappeared new home tax credit, and it is believed to again be falling. [So, despite the Dem's repeated attempts to do something, the expanded homeownership policies of the Left which forced banks to make bad loans, and allowed Fannie and Freddie to guarantee them, are still having an impact on the markets. Worse still, Fannie and Freddie are practicing pretty much the same policies they practiced before the meltdown].
- The index of consumer confidence stands at 53.5 today. That number was 39 during the panic of October 2008. It dropped to 37 in January 2009. It hit 55.9 in January of this year -- before Obamacare passed and while hopes for the stimulus and the president's placebo economics persisted.
- On Thursday last week the Wall Street Journal reported that the federal centers for Medicare and Medicaid Services had recalculated their projections on health care costs in light of Obamacare. Prior to Obamacare's passage, the annual increase in total health spending in the country over the next decade was supposed to be 6.1 percent. After Obamacare, the centers now calculate that annual growth in spending at 6.3 percent. [bending the cost curve down?]
- On Wednesday, the Journal reported on a survey of major health insurance companies and found premium increases of between 1 percent and 9 percent for self-insured Americans and employees in small businesses in the next few months because of the mandate for new benefits under the law. [Did even Obama believe that adding requirements was going to decrease costs?]