Thursday, February 20, 2014

Another Failed Obama Promise: A Doubling of Exports by 2015

I doubt many people remember Obama's promise -- as part of the 2010 State of the Union -- that he would double U.S. exports in just 5 years; and, in doing so, create 2 million manufacturing jobs.  But, like so much of what the President says, his words are found to be good for politics and well short of any possible reality.

When Obama made that promise, exports were at $142 billion for the month of January 2010.  By December 2013, exports had only risen to $191 billion.  This is well below the $256 billion needed to be on track with the President's goal.  So, after completing nearly four years of the 5-year commitment, exports have only risen by 35%.  At best, they might increase 42% over what had been a 100% or doubling of export promise.

Now, what about all those manufacturing jobs?  Well, in the February 2013 State of the Union Address, Obama proudly said this:
 “After shedding jobs for more than 10 years, our manufacturers have added about 500,000 jobs over the past three.”
For that claim, the normally-friendly Washington Post gave him 2 Pinocchios.  But, even if it was true, at best, we are only on track to create 800,000 manufacturing jobs by 2015; of which only about 40% could be attributable to exports.

I think Americans need to wake up and stop believing anything Obama says.  For him, talk is truly cheap; and, as always, politically opportunistic. And, I mean "opportunistic" in the most negative way.

You might keep this blog entry in mind, when, on Tuesday, Obama promised that -- thanks to his new fuel standards -- the average family will save $8,000 in gasoline expenses over time. Of course, that savings never takes into consideration how expensive a car will have to be to meet his new standards.  I'm sensing even more Pinocchios on the way.

With the stroke of Obama's pen, new fuel standards are coming:


State of the Union Address: Obama to Double Exports and create 2 million jobs:

January 2010 Exports/Imports:

December 2013 Exports/Imports:

Obama Gets 2 Pinocchios on Manufacturing Job Creation:

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