October 13, 2010
Assertion #1 — On July 24, 2003, Democrat Leader Pelosi stated, “[T]he unemployment rate is the highest in nine years; middle-class families are finding it harder to succeed; and Republican Members of Congress are preparing to leave for the August recess without providing an expanded child tax credit to the working and military families of 12 million children.”
- America’s Reality: Under the Obama administration the unemployment rate reached a 26-year high of 10.2 percent. The current unemployment rate is 9.6 percent. Participation in the federal food stamp program has set records for 20 straight months. On average, 43.3 million people are expected to receive food stamps each month in the fiscal year that began October 1, 2010. Yet on September 30, 2010, Speaker Pelosi adjourned the Congress without preventing a recovery-crushing $3.9 trillion tax increase on all Americans—the highest tax increase in history.
Assertion #2 — On March 7, 2003, Democrat Leader Pelosi stated, “President Bush's first $1.7 trillion tax cut came with a promise—that it would create jobs and grow the economy. We all know that it has not. The rhetoric was good, but the reality couldn't be more different...We need policies that create jobs. It is that simple…The choice for the American people is clear.”
- America’s Reality: In March 2003, the nation’s unemployment rate stood at 5.9 percent. In February 2009, the Obama administration promised that with passage of the Democrats’ $1.2 trillion stimulus, unemployment would not rise above eight percent. Today, the nation’s unemployment rate stands at 9.6 percent, and the unemployment rate has been above nine percent for the past 17 months, including a 26 year high of 10.2 percent in October 2009.
Assertion #3 — On May 14, 2003, Democrat Leader Pelosi stated, “Since January 20, 2001, when George W. Bush was sworn in as President, 2.7 million private sector jobs have been lost, the worst record of job creation of any Administration since the Great Depression…America’s unemployed workers need jobs.”
- America’s Reality: The economy has lost nearly four million jobs on President Obama’s watch. According to Gallup, “Underemployment peaked at 20.4 percent in April and has yet to fall below 18.3 percent this year.”
Assertion #4 — On June 6, 2003, Democrat Leader Pelosi stated, “Sadly, the Labor Department announced this morning that the unemployment rate in May increased to 6.1 percent—the highest rate since July 1994. And that brings the total number of private sector jobs lost since President Bush took office to 3.1 million, the worst record of job creation of any President since the Great Depression.”
- America’s Reality: The Associated Press reports that the unemployment rate has been stuck above 9.5 percent for 14 consecutive months, the longest stretch since the 1930s. There are currently 15 million Americans unemployed.
Assertion #5 — In October 2003, Democrat Leader Nancy Pelosi stated, “Mr. President, where are the jobs? The American [people] will not settle, nor should the Republicans celebrate a jobless recovery.”
- America’s Reality: In October of 2003, the unemployment rate stood at 6 percent and 203,000 jobs were created. After four years of Democrat leadership in Congress and 21 months of President Obama’s tax-and-spend policies, on October 8, 2010, the Bureau of Labor Statistics (BLS) reported that the unemployment rate remained at 9.6 percent. According to BLS data, 2.25 million jobs have been lost since January 2009.
For additional information, contact:
The House Republican Conference Policy Office