DNC Chair: We Own The Economy

Posted by Brian Patrick on

FYI – 

This morning, DNC Chair Debbie Wasserman Schultz finally admitted that her party is responsible for the dismal state of the economy, due in large part to the fact that President Obama and Democrats’ economic policies have failed to boost growth or create jobs. The unemployment situation today is worse off than when President Obama took office, with more small businesses planning to lay off workers – adding to the millions of Americans who are already out of work.

  • Question: “At what point does your party own the economy? Is it after 3 years after the President took office, 4 years, 5-10 years, 10-15 years? At what point do you take ownership?”
  • DNC Chair Debbie Wasserman Schultz: “I think we clearly are responsible for the -- I am going to take ownership right now."

Under The Obama Economy:

  • More Small Businesses Are Planning On Laying Off Workers Than Plan To Hire New Ones. In the latest sign that the economic recovery may have lost whatever modest oomph it had, more small businesses say that they are planning to shrink their payrolls than say they want to expand them. ... if the nation’s small companies plan to further delay hiring — or, worse, return to laying off workers, as they now hint they might — there is little hope that the nation’s 14 million idle workers will find gainful employment soon. (The New York Times 6/15/11)

Under The Obama Economy:  

  • Small Business Start Ups Have Hit Their Lowest Levels Since The Early 1990’s. Entrepreneurs have started up the fewest new U.S. businesses in more than a decade, according to government figures that could spell more bad news for job creation. Through the 12 months ended in March of last year, 505,473 new businesses started up in the U.S., according to the latest data available from the Bureau of Labor Statistics. That's the weakest growth since the bureau started tracking the data in the early 1990s. It's down sharply from the record 667,341 new businesses added in the 12 months that ended in March 2006. (USA Today, 6/13/11)

Under The Obama Economy:

  • Economic Confidence Among Americans Has Dropped Even Lower Than It Was A Year Ago. A sharp deterioration in the jobs outlook and six straight weeks of Wall Street declines sent Americans' confidence in the U.S. economy plunging to an average of -35 during the week ending June 12 -- a decline of nine percentage points from two weeks ago, and six points worse than it was in the same week a year ago. Economic confidence is now approaching a 2011 weekly low. (Gallup, 6/14/11)

Under The Obama Economy:

  • There Has Been No Improvement In Unemployment or Underemployment From A Year Ago. Unemployment and underemployment as measured by Gallup have shown no improvement compared with a year ago. (Gallup, 6/14/11)

Under The Obama Economy:

  • 1.9 Million Fewer Americans Have Jobs Today Than When President Obama Signed The Stimulus. Twenty-eight months after Congress passed President Obama’s signature economic stimulus law, and nearly one year after he declared the summer of 2010 to be “Recovery Summer,” 1.9 million fewer people are employed. (CNS News, 6/14/11)


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