We wrote up a “QE3 Fact Sheet” after Ben Bernanke’s announcement on monetary policy Thursday. Left-wing apologists for the central bank came out in full swing, advocating for the money injection as a beacon of hope.

Chairman Ben Bernanke made two announcements Thursday about monetary policy: (1) the Federal Reserve will begin its third round of quantitative easing, and (2) it will maintain extremely low interest rates of 0 to 1/4 percent until at least mid-2015. These banking actions may sound like gobbledygook, but their effects on our country’s currency are drastically serious. Let’s translate a few things into layman’s terms. “QE3” — what’s this mean?

Barack Obama is not merely uninformed on economics, he is enthusiastically misinformed. He says he keeps trying to fix the economic mess he "inherited", but nothing he does works.   There has been absolutely nothing in @BarackObama's performance to date that suggests he can improve the economy if given 4 more years. Zip.— Brad Thor (@BradThor) The proof, as they say, is in the pudding. No matter how much a politician likes to proclaim his skill and wisdom -- and Barack Obama likes it as few others -- eventually the effects of his policies on the real world are what matter. Barack Obama has not done what he said he would do, because he can't.