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Tuesday, May 8, 2012

Q: How Has New York’s Economy Fared Under President Obama?

Obama Isn’t Working for Struggling New York Families
“President Obama’s liberal policies are growing the size and scope of the federal government – but they’re not growing the economy. After three years of President Obama’s wasteful spending and increased debt, struggling New York families need a president who can actually live up to the promises he makes to voters.” –Andrea Saul, Romney Campaign Spokesperson
Today, President Obama Will Travel To New York To Discuss Jobs And The Economy:
President Obama Will Travel To Albany To Discuss Job Creation. “President Obama is heading to Albany tomorrow for a much-anticipated visit highlighting jobs, at which he’s now touring the NanoTech Complex, a center that gets heavy praise in the upstate New York area. It’s a switch from where he was originally heading, GlobalFoundries, a computer chip plant that’s been the subject of a number of profiles, and which employs about 1,300 people. But it’s also a company that is owned by the Abu Dhabi government.” (Maggie Haberman, “Obama’s NY Visit Originally Included Firm With Abu Dhabi Government Ownership,” Politico, 5/7/12)
How Has New York’s Economy Fared Under President Obama? 
The Unemployment Rate Has Increased To 8.5% 
And Nearly A Million New Yorkers Are Unemployed:
Since President Obama Took Office, New York’s Unemployment Rate Has Increased From 7.1% To 8.5%. (Bureau Of Labor Statistics, www.bls.gov, Accessed 5/7/12)
  • Albany’s Unemployment Rate Has Increased From 7.3% To 8.2%.(Bureau Of Labor Statistics, www.bls.gov, Accessed 5/7/12)
New York Currently Has 811,520 Unemployed Workers. (Bureau Of Labor Statistics, www.bls.gov, Accessed 5/7/12)
And Obamacare Has Jeopardized New York Jobs Even Further By Creating Burdensome Regulations And Job-Killing Taxes:
CEO Of New York-Based Delcath Systems, On Obamacare’s Medical Device Tax: “It’s Not Going To Be Good For Jobs, And It’s Very, Very Short-Sighted.” “Delcath Systems Inc., which plans to employ about 30 people at a new manufacturing facility in Queensbury by the end of the year, could be one of the first victims. ‘So, they’re losing money, and it just didn’t make sense to say, ‘We’re going to increase your losses by charging you a revenue tax while you’re struggling to profitability,’ [CEO Eamonn] Hobbs said. ‘It’s not going to be good for R-and-D; it’s not going to be good for jobs, and it’s very, very short-sighted.’“ (Scott Donnelly, “Tax Looms For Medical Device Firms,” Glens Falls Post-Star, 4/16/10)
Western New York’s Small Medical Device Manufacturers Worry New Medical Device Tax “Will Be Especially Tough On Small Employers.” “This new federal health reform bill that just went in, it could have a major impact on area medical device manufacturers. … Officials say it will be especially tough on small employers and could have a significant impact on patient care and innovation. The national association says many of its members could be faced with layoffs, cuts to research-and-development, or a slowdown in new development. There are many small-device manufacturers here in western New York. They say it will be difficult to maintain those areas while dealing with increased taxes.” (WKBW-BUF’s “Good Morning Western New York,” 4/6/10)
While New Yorkers Are Struggling To Find Good-Paying Jobs, Their Bills Are Skyrocketing:
During President Obama’s Time In Office, 
New York’s Gas Prices Have More Than Doubled 
From $1.91 Per Gallon In January 2009 
To $4.04 Per Gallon Today. 
(AAA Website, www.aaa.com, Accessed 5/8/12)
  • New York Currently Has The Sixth Highest Average Gas Price In The Country. (AAA Website, www.aaa.com, Accessed 5/7/12)
This Year, Insurance Premiums In New York Are Expected To Increase On Average By 8 Percent.“It’s enough to make your blood pressure skyrocket. New York regulators approved hikes averaging 8 percent in health insurance premiums for next year following requests by the companies.” (Carl Campanile, “Health Plans Get 8% Hike,” New York Post, 11/7/11)

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