Wall Street Journal economics writer Stephen Moore says Barack Obama is making history but it's not the kind the president should brag about.
"Everything that has been done in Washington in the last four years," Moore said, "which includes the last year of the Bush administration and the first three of the Obama administration, every single step Washington has taken to get us out of this economic crisis has been exactly the wrong thing to do."
He addressed more than 300 people attending a Friday luncheon at the Forum Club of Southwest Florida at the Naples Beach Hotel and Golf Club.
Moore, also a Fox News contributor and founder of Club for Growth, described as an organization dedicated to helping elect free market, tax-cutting candidates to Congress, addressed what he feels is the heart of America's economic woes.
He referenced a Wall Street Journal column he wrote in August that compared the economic policies of the Ronald Reagan — president from 1981 to 1989 — and Barack Obama presidencies.
"Obamanomics versus Reaganomics," Moore said. "They both took over during a great economic crisis. In November 1983, the U.S. economy created 1.1 million jobs. The most jobs that have ever been created in any single month in American history.
"In the last quarter of 1983, the U.S. economy grew at a 6.5 percent growth rate. The big worry was that the economy was 'overheating.' That's what we should be striving for. How do we get back to 6, 7, 8 percent growth to dig ourselves out of this hole?"
Moore then went on to detail what he felt were the faults of the current administration's economic policies, saying the United States has borrowed $5 trillion in the last four years.
"To put that in perspective, that's more money than the United States' government borrowed from 1776 to 2005. Think about that. The U.S. government is going to borrow more money in four years than in the first 220 years of our nation.
"I have a bumper sticker on my car that says, 'Thank God Barack Obama doesn't know what comes after a trillion.'"
After discussing tax rate percentages paid by America's wealthiest and poorest demographics, Moore mentioned the candidates seeking the Republican presidential nomination, stating, "I don't like any of them, quite frankly."
"If Mitt Romney, if he's going to be the Republican nominee," Moore said, "he's going to have to defend wealth, and job creation, and capitalism. He is challenged in that way."
Among the crowd were a number of Gulf Coast High School students invited to the luncheon. Moore took a moment to address them and their peers.
"In the history of this country every single generation has been called," he said. "Your calling, your biggest challenge will be dealing with this enormous national debt. What we have been engaged in over the last five years has been the biggest, boldest episode of fiscal child abuse in the history of this country.
"Think about it. Who's going to pay the bill? Of course, it's going to be the next generation."
Before Moore spoke, the gathering was led in prayer by Rev. Frank Lee of Emmanuel Lutheran Church in Naples.
"We pray for an economic system that will help us all raise our families," Lee said.
In these times of record unemployment rates, home foreclosures and national debt, the sentence struck a chord within the listeners.