September 27, 2011

An Avalanche Of Failures
Obama Is Campaigning In Colorado Again But His First Round Of Campaign Promises Remain Unfulfilled
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“President Barack Obama On Tuesday Will Make What Is Likely To Be The First Of Many Trips To Colorado — An Expected Swing State In The 2012 Election.” (Jeremy Meyer,
“President Obama To Push Jobs Bill In Denver Tuesday At Lincoln High,” The Denver Post, 9/24/11)

COLORADO HAS STRUGGLED TO RECOVER IN THE OBAMA ECONOMY
Colorado Expects “A Continued Glacier-Like Recovery.” “Economists for the state government said Tuesday that Coloradans probably can count on a continued glacier-like recovery, an increasing chance of the state falling into recession and not a lot of new money available for the state budget next year.” (Neil
Westergaard, “Colorado Economic Forecast Is Modest, At Best,” Denver Business Journal, 9/20/11)

Since The First $825 Billion Stimulus Passed, Colorado Has Lost 48,300 Jobs And The Unemployment Rate Has Increased From 7.4 Percent To 8.5 Percent. (Bureau Of Labor Statistics, BLS.gov, Accessed
9/26/11)

 

Colorado Has Lost 38,300 Construction Jobs And 7,600 Manufacturing Jobs Since The First Stimulus Passed. (Bureau Of Labor Statistics, BLS.gov, Accessed 9/26/11) The White House Predicted That The First $825 Billion Stimulus Would Save Or Create 59,000 Jobs In Colorado. (“UPDATED: American Recovery And Reinvestment Act: State-By-State Jobs Impact,” WhiteHouse.gov,
2/13/09)

Since Obama Became President, Colorado Has Lost 67,400 Jobs And The Unemployment Rate Has Increased From 6.8 Percent To 8.5 Percent. (Bureau Of Labor Statistics, BLS.gov, Accessed 9/26/11)  Colorado Has Lost 42,100 Construction Jobs And 9,500 Manufacturing Jobs Since Obama Took Office. (Bureau Of Labor Statistics, BLS.gov, Accessed 9/26/11)

Colorado Lost 1,800 Jobs In August As Their Economy Slowed And Consumer Spending Stalled. “Natalie Mullis, chief economist for Legislative Council, told lawmakers that overall, the state economy has slowed along with the national economy and that consumer spending lost momentum in the summer. She said the state's labor market has also slowed and Colorado lost 1,800 jobs in August after about 18 months of gains.” (“Cuts Likely As Colorado Faces Up To $500B Deficit,” The Associated Press, 9/21/11)

COLORADO’S HOUSING MARKET REMAINS ONE OF THE WORST IN THE NATION

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Since President Obama Took Office, Over 104,000 Properties Have Received Foreclosure Filings In Colorado And Over 55,000 Foreclosed Properties Have Been Sold At Auction. (Colorado Division Of Housing,
“2nd Quarter 2011 Foreclosure Report,” Colorado Department Of Local Affairs, 8/11/11)

In 2010, Colorado Had The Tenth Highest Foreclosure Rate In The Nation; One In Every 40 Housing Units Received A Foreclosure Filing. (Press Release, “Record 2.9 Million U.S. Properties Receive Foreclosure
Filings in 2010 Despite 30-Month Low in December,” RealtyTrac, 1/12/11)

From July To August, Foreclosure Filings In Colorado Jumped 34.2 Percent. “However, from July to August of this year, foreclosure filings went up by 34.2 percent and sales at auction rose 32.0 percent. Foreclosure filings hit a six-month high in August while foreclosure sales at auction reached only a twomonth high. While the numbers for August were down from 2010, foreclosure listing firm RealtyTrac Inc. says Colorado is still among the top 10 states in the U.S. for foreclosure rates.” (“Foreclosures Down In 2011, But
Colorado Still In Top 10,” The Coloradoan, 9/15/11)

In August, Colorado’s Foreclosure Rate Remained Among The Top 10. “Rounding out the top 10 states with the highest foreclosure rate in August are California, Arizona, Georgia, Idaho, Michigan, Florida, Illinois, Colorado and Utah.” (“Foreclosures Down In 2011, But Colorado Still In Top 10,” The Coloradoan,
9/15/11)

In August, Housing Construction In The Colorado Springs Area Remains Flat And Foreclosures Are At their Highest Rate Since January. “The pace of local housing construction remained flat in August compared with a year ago, while the rate at which homes fell into foreclosure last month was the highest since January, according to a pair of reports released Thursday.” (Wayne Heilman, “Homebuilding Declines Slightly, Foreclosures Highest Since January,” The Gazette [Colorado Spring, CO],
9/1/11)

And Colorado Families Have Slipped Backwards Since Obama Took Office
In 2010, Household Incomes In Colorado Declined 2.5 Percent. “Even though the state's economy grew last year, household incomes didn't. They were down 2.5 percent in 2010 from 2009. The survey reports a 2010 median household income in Colorado of $54,046, compared with a 1999 median household income, adjusted to 2010 dollars, of $61,767 and 2009 household income of $55,430. ‘That probably reflects two-earner households where one person got laid off or went part time,’ said Broomfield economist Gary Horvath.” (Aldo Svaldi, “Colorado Incomes Fall Sharply From 1999 To 2010, Analysis Says,” The Denver Post,
9/22/10)

In 2010, The Number Of Children Living In Poverty In Denver Increased By Three Percent To 33 Percent, One In Every Three Children. “The U.S. Census Bureau says one out of every three children in Denver lives in poverty, according to 2010 data released Thursday. The figures show an increase from 30 percent in 2009, to 33 percent in 2010 in the city.” (“Census: 1 In 3 Denver
Children Live In Poverty,” KDVR [Denver, CO], 9/22/11)

Four Percent Of Children In Colorado Have Been Affected By Foreclosure And 11 Percent Of Children Have Had At Least One Unemployed Parent. “According to the report, 4 percent of Colorado's children, or 86,000 kids, were affected by foreclosure, while 11 percent, or 132,000, had at least one unemployed parent.” (Barabar Cotter, “Report: Economy Taking Toll On Colorado Kids,” The Gazette [Colorado Springs, CO],
8/16/11)

AFTER HIS FIRST STIMULUS FAILED THE STATE, COLORADOANS ARE NOT LOOKING FOR MORE OF THE SAME
The Denver Post: “Previous Stimulus Spending Efforts Totaling Nearly $1 Trillion Did Little To Slow The Economic Slide …” “However, we're cautious about talk of any further government stimulus spending intended to spur employment. Previous stimulus spending efforts totaling nearly $1 trillion did
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little to slow the economic slide, and they piled an unacceptable amount of debt onto the big bills racked up by the previous administration. A large stimulus spending plan that adds to the national credit card bill is not going to fly politically or pass muster as good economic policy.” (Editorial, “Second Stimulus Isn’t In The Cards,”
The Denver Post, 8/19/11)

The Denver Post: “The Nation Simply Can’t Afford” Another Large Stimulus Program. “On the flip side, Democrats must fully embrace fiscal policy that includes changes to programs they hold dear, and doesn't involve big swaths of stimulus spending. The nation simply cannot afford it.”
(Editorial, “Second Stimulus Isn’t In The Cards,” The Denver Post, 8/19/11)

Since Obama Took Office, Colorado’s Share Of The National Debt Has Increased By $66.3 Billion. (“Debt To The Penny And Who Owes It,” TreasuryDirect.gov, Accessed 9/26/11; “2010 Census Data,” U.S. Census Bureau, Accessed
9/26/11)

Matt Horrom, An Unemployed Construction Project Estimator From Colorado: If Obama “Really Wanted To Reduce Red Tape,” He Would “Shelve His Health Care Plan.” “Matt Horrom, an unemployed construction project estimator from south Jefferson County, said the president's talk of reducing red tape and speeding up stimulus projects sounded unrealistic. ‘If he really wanted to reduce red tape, he should have said he will shelve his health care plan until we get the economy back on track,’ Horrom said.” (Greg Griffin and Aldo Svaldi, “Coloradans Listening To Obama’s Plan Draw Clear Lines Of Disagreement,” The Denver Post, 9/9/11) Mark Cordova, A Denver, CO Manufacturer, Favors “Broad Income Tax Cut” Over Reduction Of Payroll Taxes. “Mark Cordova, president of Centennial Bolt, a Denver manufacturer, said he would favor a broad income tax cut rather than a reduction in payroll taxes. ‘We are going towards bankruptcy with the Social Security account. Why are we taking money away from it rather than lowering taxes overall?’ he said.” (Greg Griffin and Aldo Svaldi, “Coloradans Listening To Obama’s Plan Draw Clear Lines Of Disagreement,” The Denver Post, 9/9/11)  Cordova: “Why Not Put A Moratorium On The Regulations He Is Implementing Right Now?” “Regarding the president's claim of reduced regulations, Cordova noted that the Obama administration is working on implementing hundreds of new regulations. ‘Why not put a moratorium on the regulations he is implementing right now,’ he asked.” (Greg Griffin and Aldo Svaldi,
“Coloradans Listening To Obama’s Plan Draw Clear Lines Of Disagreement,” The Denver Post, 9/9/11)

Including Colorado, “Obama’s Job-Approval Have Dropped Below 50 Percent In All Of The Key States He Flipped From The Republicans In 2008.” “Mr. Obama was able to win three years ago mainly because he captured nine states that had gone for Republican George W. Bush in 2004: Florida, Ohio, North Carolina, Virginia, Indiana, Colorado, Iowa, New Mexico and Nevada. Combined, those states will account for 112 electoral votes in 2012. But with just over a year until the next election, Mr. Obama’s rating has fallen below 50 percent in every one of those states — always a warning sign for an incumbent.” (Dave Boyer, “Obama’s A Flop In States He Flipped In 2008,” The Washington Times, 9/15/11)

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