Not my words. This from an independent watchdog group...
President Obama's first speech to a joint session of Congress was stuffed
with signals about the new direction his budget will take and meant-to-be
reassuring words about the economy. But it was also peppered with
exaggerations and factual misstatements.
- He said "we import more oil today than ever before." That's untrue.
Imports peaked in 2005 and are substantially lower today.
- He claimed his mortgage aid plan would help "responsible" buyers but
not those who borrowed beyond their means. But even prominent defenders of
the program including Fed Chairman Bernanke and FDIC chief Bair concede
foolish borrowers will be aided, too.
- He said the high cost of health care "causes a bankruptcy in America
every 30 seconds." That's at least double the true figure.
- He flubbed two facts about American history. The U.S. did not invent
the automobile, and the transcontinental railroad was not completed until
years after the Civil War, not during it.
- He claimed that his stimulus plan "prevented the layoffs" of 57 police
officers in Minneapolis. In fact, it's far more complicated than that, and
other factors are also helping to save police jobs.
--
Cheers!!
Jim
"A government big enough to give you everything you want, is strong enough
to take everything you have." - Gerald Ford
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