Errors and omissions (E&O) is the coverage that protects you from another individual or company that wants to hold you responsible for something that you provided which does not give expected results. Does the President have coverage?
There were many statements made last night during the State of the Union that didn't seem to match up with reality for many Americans. Going through the transcript of the State of the Union, it was easy to point out problems in Obama's address. Below, I've gone through the speech, and outlined in italics the exact words he said used.
Looks like Obama needs insurance! After his italicized statements, I provided the errors and omissions coverage for Obama for the State of the Union he gave to everyday America.
Tonight, this chamber speaks with one voice to the people we represent: it is you, our citizens, who make the state of our union strong.
>>> This chamber speaks with one voice because of the growing (mis)use of Executive Action used, and threatened to be used, by Obama during his Presidency.
Here are the results of your efforts: The lowest unemployment rate in over five years.
>>> It's the lowest unemployment rate in over 5 years because of the amount of people who have stopped looking for a job. Obama fails to mention that this is also the lowest number of workers in the workforce since the early 1960s.
Our deficits – cut by more than half
>> Deficits have been cut only this year because of non-policy reasons (Large Fannie/Freddie payments to the Treasury in 2012 and accelerated tax transactions at the end of 2012 that count on this fiscal year). Also, we still have had yearly $1 trillion deficits, which was never seen before Obama became president.
And for the first time in over a decade, business leaders around the world have declared that China is no longer the world’s number one place to invest; America is.
>> No, actually this year, America fell out of the top ten list for the first time in twenty years on the Index of Economic Freedom.
In the coming months, let’s see where else we can make progress together. Let’s make this a year of action. That’s what most Americans want – for all of us in this chamber to focus on their lives, their hopes, their aspirations.
>>> Most Americans don’t want Congress to take action for the sake of action. Most people want Congress to get out of the way so that they can make their own destiny.
Today, after four years of economic growth
>>> Economic growth has slowed to a crawl
and those at the top have never done better
>> Those at the top have lost more wealth than any other income bracket and have also seen their taxes rise due to legislation passed during Obama's presidency
But average wages have barely budged.
>>> Businesses can’t afford to pay their workers more due to excessive regulations, higher taxes, and Obamacare changes -- all which have hindered their ability to operate day-to-day and more importantly, plan long-term.
And too many still aren’t working at all.
>>> This is first true statement of the night<<<
So wherever and whenever I can take steps without legislation to expand opportunity for more American families, that’s what I’m going to do.
>>> Bypassing the Constitution is not how American families elected the President to operate.
Opportunity is who we are. And the defining project of our generation is to restore that promise.
>>> Debt is who we are. We can’t restore opportunity with this generation or the next because of the staggering amount of debt -- more than $50,000 per man, woman, and child
So let’s make that decision easier for more companies. Both Democrats and Republicans have argued that our tax code is riddled with wasteful, complicated loopholes that punish businesses investing here, and reward companies that keep profits abroad.
>>> Please cite the loophole. American businesses are actually punished with the highest corporate tax rate in the world. They move businesses abroad so that they can keep more of their hard earned money themselves.
But I will act on my own to slash bureaucracy and streamline the permitting process for key projects, so we can get more construction workers on the job as fast as possible.
>>>Is this before or after we start the "Shovel-Ready" projects?
Federally-funded research helped lead to the ideas and inventions behind Google and smartphones. That’s why Congress should undo the damage done by last year’s cuts to basic research.
>>> Federally funded research -- like Green Energy companies or NIH “studies”?
Now, one of the biggest factors in bringing more jobs back is our commitment to American energy. The all-of-the-above energy strategy I announced a few years ago is working, and today, America is closer to energy independence than we’ve been in decades.
>> That strategy of subsidizing companies like Solyndra, Satcon Technology, and A123 systems?
One of the reasons why is natural gas – if extracted safely, it’s the bridge fuel that can power our economy with less of the carbon pollution that causes climate change. Businesses plan to invest almost $100 billion in new factories that use natural gas.
>>>While shuttering the coal industry by imposing overreaching and impossible regulations to run them out of business.
Let’s continue that progress with a smarter tax policy that stops giving $4 billion a year to fossil fuel industries that don’t need it, so that we can invest more in fuels of the future that do.
>> Lets continue with a smarter tax policy that stops giving billions of our taxpayer money to subsidize companies that still manage to go bankrupt
And even as we’ve increased energy production, we’ve partnered with businesses, builders, and local communities to reduce the energy we consume.
>>> By taking away our regular lightbulbs
When we rescued our automakers, for example, we worked with them to set higher fuel efficiency standards for our cars. In the coming months, I’ll build on that success by setting new standards for our trucks, so we can keep driving down oil imports and what we pay at the pump.
>>> So that the price of cars goes up for consumers, and so that state legislatures can imposes fees on hybrids and electric cars because they are not bringing in as much revenue from fuel-efficient cars via the gas tax.
But the debate is settled. Climate change is a fact.
>>> It’s Global Warming when it is warm, and Climate Change when it is cold. It must be a polar vortex out there
So let’s get immigration reform done this year.
>>> If you want immigration reform done, try doing it through Congress, not by Executive Fiat.
Two years ago, as the auto industry came roaring back
>>> How did it come "roaring back" again? Cash for Clunkers cost taxpayers money, taxpayers had to bail out the auto industry, and production of the “new” electric cars is sluggish or has stopped altogether
And if Congress wants to help, you can concentrate funding on proven programs that connect more ready-to-work Americans with ready-to-be-filled jobs.
>>>What are these ambiguous and undetailed “programs”, and if they are so “proven”, why are record numbers of Americans still not working?
I’m also convinced we can help Americans return to the workforce faster by reforming unemployment insurance so that it’s more effective in today’s economy. But first, this Congress needs to restore the unemployment insurance you just let expire for 1.6 million people.
>>>99 weeks of unemployment isn’t enough?
Five years ago, we set out to change the odds for all our kids. We worked with lenders to reform student loans, and today, more young people are earning college degrees than ever before.
>>Obama's reform was that the rates on federal student loans just doubled. And more young people are in debt than ever before just out of college with dismal job prospects -- thanks to Obama's economy.
And as Congress decides what it’s going to do, I’m going to pull together a coalition of elected officials, business leaders, and philanthropists willing to help more kids access the high-quality pre-K they need.
>>> Because or current K-12 education system is already leading the world in education, right, so we can focus on pre-K?
Today, women make up about half our workforce. But they still make 77 cents for every dollar a man earns. That is wrong, and in 2014, it’s an embarrassment. A woman deserves equal pay for equal work.
>>> Unless you work for the White House. Obama’s own White House staff still underpays its women compared to men.
In the coming weeks, I will issue an Executive Order requiring federal contractors to pay their federally-funded employees a fair wage of at least $10.10 an hour – because if you cook our troops’ meals or wash their dishes, you shouldn’t have to live in poverty.
>>> That’s giving Federal Workers a 42% pay raise unilaterally with my tax dollars.
Tom Harkin and George Miller have a bill to fix that by lifting the minimum wage to $10.10. This will help families. It will give businesses customers with more money to spend. It doesn’t involve any new bureaucratic program. So join the rest of the country. Say yes. Give America a raise.
>>> Businesses will not be able to absorb a minimum wage hike of up to 42% without cutting jobs to make up the balance sheet. That will give Americans more unemployment.
And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans.
>>> Please state the big tax breaks to save? The wealthy pay a 39.6% of their income to the government (not counting state and local taxes) plus the Obamacare surtaxes that started this year, also only for the wealthy. That means they save less of their money because more gets taken in taxes to fund the government.
Send me legislation that protects taxpayers from footing the bill for a housing crisis ever again, and keeps the dream of homeownership alive for future generations of Americans.
>>> Americans footed the bill for the housing crisis in the form of TARP (which Obama voted for as Senator) and ARRA (which Obama signed as President). Obama could have paid the mortgage off for every homeowner in America and still have spent less taxpayer money overall. Talk about economic stimulus and the dream of homeownership!
One last point on financial security. For decades, few things exposed hard-working families to economic hardship more than a broken healthcare system. And in case you haven’t heard, we’re in the process of fixing that.
>>> After we fix the website, the application process, the security holes, and the healthplans...
That’s what health insurance reform is all about – the peace of mind that if misfortune strikes, you don’t have to lose everything.
>>> Not everything. But you can lose your health plan, and you can lose your doctor
Already, because of the Affordable Care Act, more than three million Americans under age 26 have gained coverage under their parents’ plans. More than nine million Americans have signed up for private health insurance or Medicaid coverage.
>>> Signed up means "Placed in the shopping cart". And millions more have lost their plans and haven’t signed up with Obamacare
And here’s another number: zero. We did all this while adding years to Medicare’s finances, keeping Medicare premiums flat, and lowering prescription costs for millions of seniors.
>>> Here's another number: Trillions. Obama added trillions to Medicare’s entitlement deficit and trillions to our deficit to pay for Obamacare
So again, if you have specific plans to cut costs, cover more people, and increase choice – tell America what you’d do differently. Let’s see if the numbers add up. But let’s not have another forty-something votes to repeal a law that’s already helping millions of Americans like Amanda. The first forty were plenty. We got it. We all owe it to the American people to say what we’re for, not just what we’re against.
>>> We’ve polled the American people and the majority of the American people are for repealing Obamacare.
That’s why, tonight, I ask every American who knows someone without health insurance to help them get covered by March 31st. Moms, get on your kids to sign up. Kids, call your mom and walk her through the application.
>>> Because the enrollment numbers are so low, the President has to actually beg the American people to sign up, use millions in taxpayer money to run ads, and use Hollywood to promote Obamacare
It should be the power of our vote, not the size of our bank account, that drives our democracy.
>>> We are a Republic, not a democracy, Mr. President
And I know this chamber agrees that few Americans give more to their country than our diplomats and the men and women of the United States Armed Forces.
>>> Obama cares so much for the military that he just announced a 42% pay increase for federal workers, after just making cuts to military pensions.
But I will not send our troops into harm’s way unless truly necessary
>>> Yes, we saw that policy with Benghazi
That’s why I’ve imposed prudent limits on the use of drones – for we will not be safer if people abroad believe we strike within their countries without regard for the consequence.
>>> What about being safer domestically? Obama fails to mention that the first US citizen was killed yesterday via drones because of a dispute over 3 cows that belonged to a neighbor.
That’s why, working with this Congress, I will reform our surveillance programs – because the vital work of our intelligence community depends on public confidence, here and abroad, that the privacy of ordinary people is not being violated.
>>> Translation: If you like your privacy, you can keep your privacy, just like your health plan and doctor.
And it is American diplomacy, backed by pressure, that has halted the progress of Iran’s nuclear program – and rolled parts of that program back – for the very first time in a decade. As we gather here tonight, Iran has begun to eliminate its stockpile of higher levels of enriched uranium. It is not installing advanced centrifuges. Unprecedented inspections help the world verify, every day, that Iran is not building a bomb. And with our allies and partners, we’re engaged in negotiations to see if we can peacefully achieve a goal we all share: preventing Iran from obtaining a nuclear weapon.
>> That’s not what Iran says. Please show us the agreement signed between our two nations. Obama has yet to do that.
And we all continue to join forces to honor and support our remarkable military families.
>>> Obama honors them by making reductions to their pensions and going after military chaplains’ ability to minister to troops
The America we want for our kids – a rising America where honest work is plentiful and communities are strong; where prosperity is widely shared and opportunity for all lets us go as far as our dreams and toil will take us – none of it is easy. But if we work together; if we summon what is best in us, with our feet planted firmly in today but our eyes cast towards tomorrow – I know it’s within our reach.
>>> As Obama reaches for his pen -- not to work together under the Constitution, but unilaterally by Executive Order like he stated repeatedly during this address.
>>> As Obama asked us to believe him on Benghazi, the IRS, Fast and Furious, Obamacare, our doctors, and our health plans, to name a few.
God bless you, and God bless the United States of America.