TEA PARTY FACTS
Barrack Obama and DEMOCRATS have thus far committed $10.5 Trillion Dollars of your tax dollars to "stimulate" our economy. Here is a list of major expenditures thus far:
FULL LIST HERE
- $787 billion on The Stimulus Bill also known as American Recovery and Reinvestment Act
- $410 billion on The 2009 Federal Budget Omnibus Spending Bill
- $400 billion in Fannie Mae and Freddie Mac bailouts
- $345 billion in FHA housing rescue & Making Home Affordable bailout
- $245 billion Citigroup loan-loss backstop
- $218 billion TARP funds to hundreds of banks through its Capital Purchase Program
- $100 billion Taxpayer funds used to buy up at least $500 billion of toxic assets
- $97 billion Bank of America loan-loss backstop
- $70 billion in TARP Bailout money to AIG
- $70 billion Consumer and Business Lending Initiative also known as TALF
- $53 billion in bailouts to General Motors
- $29 billion Bear Stearns bailout
- $27.5 billion in TARP Bailout money to Bank of America
- $25 billion in TARP Bailout money to Citigroup
- $25 billion Advanced Technology Vehicles Manufacturing program
- $18.5 billion in bailouts to Chrysler
- $11.3 billion in 2009 FDIC bank takeovers
President Obama, his Economic Advisers and Democrats promised the Economy would improve immediately if the Stimulus Bill and Omnibus Spending Bills were passed and warned of economic Armageddon if they didn't pass ASAP.
- President Obama has vowed to create 3.5 million jobs by 2010.
- Obama's economic team argued that without the stimulus spending, the unemployment rate would hit 8.8% and with the package, the unemployment rate would only reach 7%
At the White House, Obama said on Feb. 4, “A failure to act, and act now, will turn crisis into a catastrophe and guarantee a longer recession, a less robust recovery, and a more uncertain future.”
Here are the results of President OBAMAS & Democrats Economic Stimulus Spending:
- -467,000 Non-Farm Payroll Jobs were lost in June
- -3,382,000 Jobs have been lost since OBAMA was inaugurated
- National Unemployment is now 9.5%, the worst unemployment rate since 1983
- Unemployment has gone from 7.2% to now 9.5% since OBAMA was inaugurated
- The consumer confidence index fell to 49.3 in June from 54.8 in May. Economists polled by Reuters had expected a healthier reading of 55.0 for the month
- First Quarter Gross Domestic Product has declined -5.5% since Obama was inaugurated
- The index of current business conditions tumbled to 44.8 in June from 61.3 in May, a 27% decline.
- Price Of Oil when Obama was Inaugurated was $38.74 per Barrel. Today the Price of Oil is $71.49 per barrel meaning Oil has increased 85% since Obama became President.
- Average Price of a Gallon of Gas when Obama was inaugurated was $1.89. Today the Average Price of a Gallon of gas is $2.69 meaning gas has gone up 32% since Obama became President.
- U.S. home prices have fallen 7.1% since Obama was inaugurated. The housing slump has reduced the median price of an existing home 26 percent from the July 2006 peak
- DOW Industrial the day Obama was inaugurated was 8,228.10, DOW today with a DEM Congress, President OBAMA & the so-called Stimulus Bill = 8,163.60.
Comparing Republican Control to now Democratic Control
- There were 132,469,000 Total Non-Farm Payroll Jobs when Bush came into office... And there were 135,074,000 Total Non-Farm Payroll Jobs when Bush left office.... A Net Increase of 2,605,000 jobs!
- There were 135,074,000 Total Non-Farm Payroll Jobs when OBAMA came into office.... Currently there are 131,692,000 Total Non-Farm Payroll Jobs .. A Net Loss of -3,382,000 Jobs!
- Unemployment when GOP last held majority 1/20/2007 was 4.4%, unemployment today with a DEM Congress and OBAMA= 9.5%
- 20,802,000 Jobs were created when GOP controlled Congress from 1995-2006, Since DEMS took majority on 1/20/2007 we have lost -5,308,000 jobs!
- DOW Industrial when GOP last Held Majority 1/20/2007 was 12,565.53, DOW today with a DEM Congress and OBAMA= 8,163.60
- The DOW Jones industrial average has lost 35% of it's value since Democrats took control on 1/20/2007
- Gross Domestic Product which monitors our economies growth showed a GDP Growth of 4.8% when the GOP had control, Since DEMS took Control on 1/20/2007 GDP has declined -6.3% The biggest decline in 29 YEARS!