Debacle: Obamas War on Jobs and Growth and What We Can Do Now to Regain Our Future

Praise for DEBACLE

"Debacle will end the claims of Paul Krugman and his ilk that poor, put–upon Obama did the best anyone could do with a recession he inherited. To the contrary, Lott and Norquist convincingly demonstrate that Obama took specific actions that made the recession much worse. A lot of Democrats got wealthy under Obama, but Obama′s Democrats–get–rich–quick policies destroyed millions of jobs and left Americans with a massive debt hangover. Every American with a bank account should read this book."
Ann Coulter, best–selling author and syndicated columnist

"Lott and Norquist have penned a persuasive indictment of President Obama′s economic record.¿ Jammed with facts and built on a mountain of carefully catalogued evidence, this is a potent resource for anyone who wants to help replace Mr. Obama in the Oval Office."
Karl Rove, former Deputy Chief of Staff and Senior Advisor to President George W. Bush

"This is the book that everyone concerned about the future of America must read. Norquist and Lott serve up a depressing but sobering picture of today′s economy along with a roadmap of solutions to move the country forward."
Haley Barbour, former Governor of Mississippi

"President Obama′s economic policy has been catastrophic for liberty, enterprise, and the American dream the very archetype of what not to do to end recession. Debacle documents how this happened and why, with outstanding research, facts, and clear thinking. Reading this book is like digging through the rubble of a man–made disaster: It is painful but necessary for going forward to restore prosperity and opportunity."
Jeffrey Tucker, executive editor, Laissez–Faire Books

Acknowledgments xi

Introduction The Players 1

Chapter 1 The Financial Crisis 7

Chapter 2 The Worst Recovery on Record 23

Chapter 3 The Stimulus Made Things Worse 35

Chapter 4 Would the Economy Have Been in Worse Shape without the Stimulus? 85

Chapter 5 Regulatory Thuggery 121

Chapter 6 We Have Seen What Happened under Obama. So Now What Do We Do? 159

Conclusion Obama s Legacy 201

Appendix Looking at the Fifty States 211

About the Authors 217

Index 219

Grover G. Norquist is President of Americans for Tax Reform (ATR), a taxpayer advocacy group he founded in 1985 at the request of President Reagan. ATR is a coalition of taxpayer groups, individuals, and businesses opposed to higher taxes at the federal, state, and local levels. It organizes the Taxpayer Protection Pledge, which asks all candidates for federal and state office to commit themselves in writing to oppose all tax increases.

John R. Lott, Jr is an economist who has held research and/or teaching positions at the University of Chicago, Yale, Stanford, UCLA, Wharton, and Rice, and was the chief economist at the United States Sentencing Commission from 1988 to 1989. Lott has published over 100 articles in academic journals. He has authored six books including More Guns, Less Crime; Freedomnomics; The Bias Against Guns; and Are Predatory Commitments Credible? He is a contributor and a weekly columnist for FoxNews.com. Lott′s Opinion pieces have appeared in several publications, including the Wall Street Journal, the New York Times, the Los Angeles Times, the New York Post, USA Today, and the Chicago Tribune, and he has appeared on television programs including ABC and NBC National Evening News broadcasts, Fox News, The NewsHour with Jim Lehrer, and the Today Show. He received his PhD in economics from UCLA.