In truth, Obama’s policies are a dagger pointed at the heart of the American energy industry. Oil production on federal lands is declining, and his EPA is poised to pounce upon the natural-gas industry, threatening to squelch innovative techniques for recovering natural gas from shale deposits. In the unhappy event the president should win reelection, he will not be constrained by the thought of having to face the voters again, and his EPA will be off the leash.
The president also repeats his misleading statement about job growth in “the auto industry rescued by President Obama.” (Sure, you taxpayers may have played a role, too, but don’t expect a mention.) In truth, most of the growth in automotive employment has not been at the bailed-out firms, which still are significantly underperforming such competitors as Toyota and Volkswagen.
He boasts of the three free-trade pacts he has signed, every one of which was handed down to him by the Bush administration. In fact, he slow-walked the Colombia trade pact under pressure from his labor-union allies.
He proposes to cut corporate tax rates. It is our understanding that there is another candidate in the race with a similar idea.
He proposes to create 20 federal institutes for innovation in manufacturing, because innovation is the first thing most people think of when they think of the federal government.
He also promises to cut spending and to reduce the deficit, issues upon which he simply has no credibility. If he were going to adopt a deficit-reduction plan, he would have proposed one by now instead of torpedoing every idea sent his way for the last four years, including the recommendations of his own deficit-reduction commission.
If patriotism is the last refuge of a scoundrel, what is economic patriotism? The last refuge of a man with President Obama’s record.