Rick Santorum, Newt Gingrich, Mitt Romney and many other Republicans have been criticizing President Obama for what they consider to be failed economic policies and are accusing him of trying to get rid of work requirements in order to receive a welfare check.

Former 2012 hopeful Rick Santorum recently posted on his blog about “Obamanomics,” a term used to explain that Obama’s economic plans, instead of “spreading wealth around, in reality only spreads poverty and economic decline.”

The former Republican presidential candidate wrote that Obama does not understand the challenges many working families are facing. He thinks that the government’s economic management has led to a situation that forces companies to outsource jobs, while many American families are losing them.

Santorum asserts that the situation is so chaotic that 41 months have passed with the unemployment rate above 8 percent, something that hasn’t occurred since the Great Depression. Since WWII, no president that served while the unemployment rate was above 8 percent has been reelected. If this continues into November, President Obama will have to challenge history for reelection.

Santorum also added that one out of six Americans is currently below the poverty line and that one in four children is receiving food stamps.

The other aspect Santorum criticized from Obama’s government is unnecessary spending. Santorum wrote, “national debt has grown by over $5.2 trillion to $16 trillion dollars—an increase of 49 percent.”  Santorum also explained that this is the fourth consecutive year in which the deficit exceeds one trillion dollars.

Another accusation Santorum made against Obama is that he has only made cuts in the defense spending budget, which Santorum considers wrong. He believes that the defense system should be a priority for the federal government, but Obama’s cuts have exceeded one trillion dollars.

President Obama has defended himself from this type of accusations, an example is on a speech on Cleveland in June he explained that the Bush tax rate cuts where somehow guilty for the recession, not his economic policies. Obama stated: “The failure to pay for the tax cuts and the wars took us from record surpluses under President Bill Clinton to record deficits. And it left us unprepared to deal with the retirement of an aging population that’s placing a greater strain on programs like Medicare and Social Security.”

Obama defended his economic policies on Cleveland, he stated: “We acted fast. Our economy started growing again six months after I took office and it has continued to grow for the last three years.” He added: “Our businesses have gone back to basics and created over 4 million jobs in the last 27 months; more private sector jobs than were created during the entire seven years before this crisis, in a little over two years.” But this is exactly what Republicans like Rick Santorum are criticizing, they accuse him of not reacting in time and maintaining the unemployment rate above 8% for too long.

Image Courtesy of  pennstatelive

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Generation Opportunity President Paul T. Conway, former Chief of Staff of the U.S. Department of Labor under Secretary Elaine L. Chao, responds to the January 2012 jobs numbers report released by the Bureau of Labor Statistics:

“Young Americans, including young veterans who have honorably served their nation, are being told by President Obama and his administration to settle for a new economic status quo where the lack of jobs, high unemployment, a record high number of people dropping out of the labor force, and limited economic opportunity are considered normal.

Instead of being allowed to pursue their dreams and careers through meaningful work, regular paychecks, and new skills gained on the job, the ongoing poor economy is forcing young adults to delay their plans, delay their lives, and scramble to simply make ends meet.

“Despite thirty-six consecutive monthly jobs reports with unemployment over eight percent and a new CBO forecast of higher unemployment in the year to come, the message from the Obama administration to young Americans is to expect more of the same — higher taxes, more regulations, and more federal interference targeted at private sector job creators.

Young adults pay dearly for this administration’s disregard and diminishment of private employers. Their level of aloofness and lack of empathy for the daily concerns of young Americans is as astounding as it is unacceptable.”

January’s 8.3 percent overall jobless rate fails to reflect the significant and ongoing challenges faced by young Americans in the continually poor economy. Joblessness among Millennials ages 18-29 is already at historic levels since the end of World War II, and hidden behind January’s numbers is the fact that many Americans have either accepted short-term, seasonal work or simply given up looking for work and are, therefore, not factored into the unemployment rate.

Even worse, the long-term U.S. job growth picture remains grim based on an official report released this week by the Congressional Budget Office (CBO). CBO’s January 31, 2012 report concluded “a large portion of the economic and human costs of the recession and slow recovery remains ahead.”

CBO is also forecasting that the U.S. unemployment rate could reach 8.9 percent by the end of 2012, and could potentially increase to 9.2 percent in the year 2013. Finally, the report forecasts that the unemployment rate could remain as high as seven percent through the end of 2015, and that economic activity may remain “below the economy’s potential until 2018.”

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