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Claims: The President’s “auto rescue” “saved 1.1 million jobs.”
Reality: Attempting to call rebrand the auto bailout as an auto rescue is a disigenous attempt to sidestep the possibility that few to no jobs would have been lost had the government let the free market regulate itself. The incredibly long video also fails to mention bailouts of GM, Chrysler and other companies cost US taxpayers $23.6 billion.
Claim: 4.1 new private sector jobs have been created under Obama.
Reality: That number is referring to the number of of new private sector jobs created since February 2010. A closer look at the jobs numbers since Obama took office shows that even with the 4.1 million private sector jobs that private businesses created in the last two years, private businesses would need to create an additional 5.2 million jobs to go backward to the total number of jobs on the market in January 2008 before Obama was elected.
Claim: Obama took on the Wall Street banks “fighting for tough new reforms to make sure they never again wreck our economy.”
Reality: This attempt by the Obama campaign to pander to supporters of Occupy Wall Street is referring to the 2010 Dodd-Frank bill, which accomplished neither of the Obama’s videos claims. In fact, the “Great Wallstreet Cashout” as coined by The Washington Examiner’s Tim Carney only helped “the government officials who wrote and implemented the law before cashing out as lobbyists or consultants for Wall Street, hedge funds and big banks.