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Reince Priebus

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Obama Shipped the Recovery Overseas

Posted: 07/10/2012 8:14 am

What do Finnish cars, Mexican solar panels, and Danish windmills have in common? They were all funded by your tax dollars.

Thanks to President Obama, taxpayer money, mostly in the form of stimulus funds, ended up in the hands of companies overseas. Instead of creating jobs in America, the stimulus and other Obama policies created jobs or sent money to Finland, New Zealand, Indonesia, India, Mexico, Germany, Australia, Switzerland, China, Denmark, South Korea, the Dominican Republic, Thailand, Vietnam, Italy, Russia, Luxembourg, El Salvador, Great Britain, Spain, Japan, and France.

How did this happen? Consider the example of Fisker Automotive. The company received $500 million in loan guarantees from the U.S. government to produce electric cars. Then they took their money and decided to produce their $100,000 electric sports cars in Finland.

President Obama's policies may be spurring job creation in Scandinavia. But here at home, twenty-three million Americans are struggling for work. Millions of middle class families can barely make ends meet.

The billions of dollars that went overseas largely had to be borrowed. In other words, President Obama borrowed money from countries like China to send money to... countries like China. It's that kind of reckless spending that led President Obama to rack up $5.6 trillion in debt over the last three and a half years, bringing our total national debt to $15.8 trillion.

In 2009, when President Obama touted his stimulus, Americans were desperate for jobs and hungry for leadership. The president and his administration promised they had the situation under control, vowing their stimulus would lower the unemployment rate to around 5.6 percent by today. But today the unemployment rate stands at 8.2 percent. June was the 41st straight month with an unemployment rate above 8 percent.

By the president's own standard, the stimulus was an abject failure. It's not hard to see why.

Over the last four years, President Obama has repeated his promise to create "jobs that pay well and can't be outsourced." Chalk that up as yet another broken promise.

Because of the president's dismal record and his campaign's desperation to change the subject, they have lately attacked Gov. Romney on false charges of outsourcing. Independent fact checkers have determined Obama's claims are blatantly false. The Obama campaign knows this, but they continue the attacks anyway. That's how desperate they are to hide their broken promises, including their record on outsourcing.

But if they want to talk about outsourcing, they should explain to the American people why they took our tax dollars and sent them abroad. Why did they let precious resources go to waste? Why did they rack up debt to create foreign jobs?

This blatant hypocrisy has become the trademark of the Obama campaign. They complain about negative ads while running the most negative campaign in history. They resort to hype and blame after being elected promising hope and change.

In early 2009, President Obama said in an interview, "I will be held accountable" for the economy. So, will President Obama, the real Outsourcer-in-Chief, hold himself accountable for sending the recovery overseas?

I wouldn't bet the Danish wind farm on it.

 
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