If this is what Obama has to hang his hat on going into the 2012 cycle he’s in a lot of trouble:
David Axelrod, Obama 2012 campaign aide, spoke with Washington Times affiliated radio show America’s Morning News about how the Obama campaign is preparing for the upcoming election year.
“I think he came to office at a time of tremendous challenge in this country. The economy was in free fall and we had two wars and someone said to me the other day, ‘You know his slogan should be GM is alive and Bin Laden is dead,’” said Mr. Axelrod.
I’m not sure I’d classify the bailout of General Motors as a success. Certainly the Obama administration has tried to brand it as such, but after giving GM a $49.5 billion bailout the government has only recouped about $23.2 billion. If the federal government sold out it’s stock of GM today, the taxpayers would lose about $13 billion.
Yes, GM is alive, but at a pretty hefty expense to the taxpayers. And, really, how much did the average taxpayer benefit? Obama’s buddies at the UAW certainly got a good deal, but the whole ordeal really didn’t help out your average John Q. Public.
And for Osama bin Laden, yeah he’s gone. But he’d been marginalized for years, living in a cave and largely irrelevant beyond being a figurehead for Islamic extremism. Getting him wasn’t a success, but it wasn’t nearly the coup in the war on terror that Axelrod seems to think it is.
The story of Obama’s first term is three consecutive years of budget deficits over $1 trillion dollars and millions of jobs in a persistent economic stagnation despite trillions spent on bailouts and “stimulus.”