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Press Release: Obama To Struggling Americans: Some Jobs "Not Going To Come Back"

October 16, 2012


After Promising Jobs For Nearly Four Years, President Obama Gives Up And Declares Some Jobs Are "Not Going To Come Back"

At Tonight's Debate, President Obama Claimed "There Are Some Jobs That Are Not Going To Come Back":

President Obama, Tonight: "There Are Some Jobs That Are Not Going To Come Back..." OBAMA: "Candy, there are some jobs that are not going to come back, because they're low-wage, low-skill jobs. I want high- wage, high-skill jobs. That's why we have to emphasize manufacturing." (President Barack Obama, Presidential Debate, Long Island, NY, 10/16/12)

Why Is President Obama Now Saying Jobs Are "Not Going To Come Back"? He's Left Millions Struggling For Work And Manufacturing In Shambles:

More Than Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (U.S. Bureau Of Labor Statistics, 10/10/12)

Before Taking Office, President Obama's Advisers Predicted The Stimulus Would Lower Unemployment To 5.3% By Today — But Unemployment Is Still At 7.8 Percent. (Christina Romer and Jared Bernstein, "The Job Impact Of The American Recovery And Reinvestment Plan," 1/9/09; U.S. Bureau Of Labor Statistics, 10/10/12)

Since President Obama Took Office, The Nation Has Lost 610,000 Manufacturing Jobs. (Bureau Of Labor Statistics, Accessed 10/5/12)

  • "Manufacturing Has Been A Drag On The Slow U.S. Economic Recovery, Which Is Stalling And Struggling To Add Jobs Now Some Three Years After The Brutal Recession And Financial Crisis Ended." "ISM's index of national factory activity fell to 49.6 in August, from 49.8 in July, and just shy of the 50.0 median estimate in a Reuters poll of economists. A reading below 50 indicates contraction in the key sector. Manufacturing has been a drag on the slow U.S. economic recovery, which is stalling and struggling to add jobs now some three years after the brutal recession and financial crisis ended." (Jonathan Spicer, "Manufacturing Another Headache For U.S. Economy, Reuters, 9/4/12)

In 2011, Reports Confirmed That China Has Become "The World's Top Manufacturing Country" — Ending The United States' "110-Year Run." "China has become the world's top manufacturing country by output, returning the country to the position it occupied in the early 19th century and ending the US's 110-year run as the largest goods producer." (Peter Marsh, "China Noses Ahead As Top Goods Producer," Financial Times, 3/13/11)

And President Obama Could Have Helped American Workers By Stopping China's Cheating — But He's Repeatedly Refused To Act:

Under President Obama, The United States Treasury Department Has Refused To Label China As A Currency Manipulator Seven Times. (Don Lee, "U.S. Declines To Label China A Currency Manipulator," Los Angeles Times, 5/25/12; Pedro Nicolaci da Costa, "U.S. Again Says China Not Currency Manipulator," Reuters, 12/28/11; Gregg Robb, "Treasury Says China Isn't A Currency Manipulator," Market Watch, 5/27/11; Sewell Chan, "China's Currency Avoids "Manipulated" Ruling Again," NYT, 2/04/11; Gregg Robb, "Treasury Does Not Cite China As Currency Manipulator," Market Watch, 7/8/10; Martin Crutsinger, "Administration Declines To Cite China On Currency Manipulation," USA Today, 10/15/09; Glenn Somerville and Doug Palmer, "U.S. Again Declines To Brand China Currency Manipulator," Reuters, 4/15/09)

  • Last Week, The Obama Administration Announced It Would Delay Yet Another Opportunity To Label China As A Currency Manipulator. "The Obama administration is delaying a decision that had been due Monday on whether China is manipulating its currency to gain trade advantages. The Treasury Department says the decision will now come after global finance officials meet in early November." ("Administration Delays China Currency Report," The Associated Press, 10/12/12)

The Washington Post: "China's Policy Has Probably Cost Americans Hundreds Of Thousands Of Jobs And Contributed To China's Destabilizing Pile Of Trillions Of Dollars In Reserves." "China's undervalued renminbi is a long-standing, bipartisan concern, and it is not a phony one: In pursuit of growth led by exports, China has held the renminbi down in relation to the dollar, rendering its goods artificially cheap in the U.S. market. The renminbi would gain about 20 percent against the dollar if it were allowed to float freely like other currencies, according to the Peterson Institute for International Economics. China's policy has probably cost Americans hundreds of thousands of jobs and contributed to China's destabilizing pile of trillions of dollars in reserves." (Editorial, "Breaking China?," The Washington Post, 8/31/11)

FLASHBACK: Candidate Obama, In 2007: "If They're Manipulating Their Currency ... We Take Them To The Mat..." OBAMA: "China is a competitor, but they don't have an enemy, as long as we understand that they are going to be negotiating aggressively for their advantage, and we've got to have a president in the White House who's negotiating to make sure that we're looking after American workers. That means enforcing our trade agreements; it means that if they're manipulating their currency, that we take them to the mat on the that issue..." (Senator Barack Obama, Remarks, Chicago, IL, 8/7/07)

Mitt Romney, Press Release: Obama To Struggling Americans: Some Jobs "Not Going To Come Back" Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/303215

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