The President, upon being elected, appeared on The Today Show and said if he couldn't get the economy turned around in three years he'd been looking at a one term proposition. And so, over the last several months, he has been going across the country attempting to convince the American people that he has turned it around. He said as you know, just a few days ago, that the private sector is doing fine. But the incredulity that came screaming back from the American people has caused him, I think, to rethink that. And I think you are going to see him change course when he speaks tomorrow and where he will acknowledge that it isn't going so well and he will be asking for four more years. So instead of three years and he's out, he wants four more years. My own view is that he will speak eloquently but that words are cheap and that the record of an individual is the basis upon which you determine whether they should continue to hold onto their job. The record is that we have 23 million Americans that are out of work or stopped looking for work or underemployed. That is a compelling and sad statistic. These are real people. I have had a chance to meet a lot of these folks and learn about their circumstances and it's more than just the 23 million that feel the uncertainty and the concern associated with the Obama economy.
It is a number of people who have jobs who nonetheless are very concerned about the future of their job. A lot of parents wonder whether the past has been brighter than the future that they anticipate for their families. We have about half of college graduates this year coming out of school without a job or without a job that's consistent with their skills.
The President's team indicated that if we passed their stimulus of 787 billion dollars, borrowed, that they'd hold unemployment below 8%. We've gone forty straight months with unemployment above 8%. And of course home values have declined and continue to bump along the bottom. So, we'll hear what he has to say tomorrow as he describes the reason for four more years, but I happen to believe that if you look at his record over the last three and a half years, you will conclude, as I have, that it is the most anti-investment, anti-business, anti-jobs series of polices in modern American history.
The reason it has taken so long for this recovery to gain traction and to put people back to work is in large measure because of the policy choices the President made. He is not responsible for whatever improvement we might be seeing, instead he is responsible for the fact that it's taken so long to see this recovery and the recovery is so tepid."