Wednesday, September 14, 2011
Obama Jobs Bill
Obama sent his "jobs bill" to Congress Monday and asked, no, demanded that Congress pass it "immediately". He's repeated that "right now/right away" theme in speeches around the country since then. That last linked item also noted on Tuesday Obama's campaign guru David Axelrod said on Good Morning America, "We're not in a negotiation to break up the package. It's not an a la carte menu."
Understanding that Americans want to get back to work, and that something to get us out of the economic doldrums would better be done sooner than later, I think back to two other major pieces of legislation that Obama insisted had to be passed in a big hurry: the so-called "stimulus bill" and "Obamacare." I think it safe to say that neither of those efforts has proven to be as advertised, and many say they are both a net drag on the economy, even though Obamacare has not even taken full effect yet.
Given that recent history, if I were in Congress I would make it a point to read every word of Obama's latest production, and parse every phrase to make sure there aren't any poison "easter eggs" in it. One instance of "we have to pass it to see what's in it" was too many, and we don't need Congress to be stampeded into passing another turkey.
So take your time, Congress, I implore you. Don't take Axelrod at his word, and be very circumspect about what action you take. And don't forget that sometimes taking a step back and re-evaluating what's been done before is the best thing to do before taking further action.
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Understanding that Americans want to get back to work, and that something to get us out of the economic doldrums would better be done sooner than later, I think back to two other major pieces of legislation that Obama insisted had to be passed in a big hurry: the so-called "stimulus bill" and "Obamacare." I think it safe to say that neither of those efforts has proven to be as advertised, and many say they are both a net drag on the economy, even though Obamacare has not even taken full effect yet.
Given that recent history, if I were in Congress I would make it a point to read every word of Obama's latest production, and parse every phrase to make sure there aren't any poison "easter eggs" in it. One instance of "we have to pass it to see what's in it" was too many, and we don't need Congress to be stampeded into passing another turkey.
So take your time, Congress, I implore you. Don't take Axelrod at his word, and be very circumspect about what action you take. And don't forget that sometimes taking a step back and re-evaluating what's been done before is the best thing to do before taking further action.
Labels: Congress, Economics, Economy, Jobs, Obama, Recession, Stimulus
Monday, August 08, 2011
Obama, 8 Aug 2011
Last Friday the United States was downgraded by a rating agency for the first time in history. Markets world-wide reacted negatively. This morning, about 20 min. ago, Obama spoke in public for the first time on the event. His reaction: more of the same.
He gave his #@&*! campaign speech! Blame S&P, blame the Repubs and Tea Party, blame Europe, blame tsunamis. He said he'd lay out his plan for recovery "in the coming weeks" and would work with the supercommittee on crafting legislation to deal with the debt. The only ideas he set out with any specificity were to extend the payroll tax holiday, extend unemployment, "invest" in infrastructure. The man hasn't had a new idea since February 2009!
I hate to say it but our President is a useless piece of baggage and is doing more to exacerbate the problem than to solve it. November 2012 can't come soon enough.
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He gave his #@&*! campaign speech! Blame S&P, blame the Repubs and Tea Party, blame Europe, blame tsunamis. He said he'd lay out his plan for recovery "in the coming weeks" and would work with the supercommittee on crafting legislation to deal with the debt. The only ideas he set out with any specificity were to extend the payroll tax holiday, extend unemployment, "invest" in infrastructure. The man hasn't had a new idea since February 2009!
I hate to say it but our President is a useless piece of baggage and is doing more to exacerbate the problem than to solve it. November 2012 can't come soon enough.
Labels: Debt, Deficit, Downgrade, Economy, Europe, Federal budget, Obama, Recession, Recovery, Republicans, Tax policy, Tea Party, Unemployment
Friday, August 05, 2011
Wake Up Call!
The news broke about 15 minutes ago that S&P downgraded US Government debt to AA+ from AAA. This is reportedly the first credit downgrade in US history. If there is any better evidence that Obama's economic policy (if it could be called a "policy") didn't work and isn't working, and if there is any better evidence that our political class doesn't have a clue, I can't imagine what it might be. Congratulations Pres. O, former Speaker Pelosi, Leader Reid, Pres. Bush, and all the Appropriators. Thank you very much. May all of you lose your next election and be permanently barred (pursuant to Sen. Kerry's sage advice, see below) from appearing or speaking on, or being quoted by, or interviewed in, any media whatsoever.
I have a modest proposal for what a modified economic policy should be: GET THE F*@K OUT OF THE WAY!!!!
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I have a modest proposal for what a modified economic policy should be: GET THE F*@K OUT OF THE WAY!!!!
Labels: Debt, Economics, Economy, Finance, government, Leadership, Obama, politicians, Recession
Friday, July 08, 2011
Epic Economic Fail
The President's (and Pelosi's and Reid's) "stimulus" program and associated policies have failed miserably. Witness today's news on jobs created and unemployment rate for June. Anybody who denies that the President's policies have failed is either insane or an idiot. The whole thing has been a Keynesian wet dream, and it has produced what one might expect from a wet dream--a sticky mess.
Congress MUST act now to reduce government spending, reduce the size of government and ease overly restrictive regulations and policies (the Canadian pipeline being only one case in point) in order to give the private sector some confidence that whatever they create won't be effectively confiscated. Any politician of any party who votes to kick the can down the road or votes in favor of anything that will increase the budget deficit (i.e., increase the national debt) should be turned out of office at the earliest opportunity. And by the way, the use of the term "spending cut" to describe a reduction in the increase in spending should be cause for tarring and feathering.
On its part, the public MUST wean itself from sucking at the federal teat and each person has to take steps to ensure his own economic well-being, as best he can. The alternative is turning the world's largest economy into mega-Greece, complete with riots in the streets.
If the people of this country spent as much time and effort focusing on the problems we face and studying the potential solutions as we have on the Casey Anthony trial, I'd feel a lot better about our future prospects. As it is, it feels more like we're on a party barge floating downstream on the Niagara River, and hardly anyone's listening to the roar of the falls.
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Congress MUST act now to reduce government spending, reduce the size of government and ease overly restrictive regulations and policies (the Canadian pipeline being only one case in point) in order to give the private sector some confidence that whatever they create won't be effectively confiscated. Any politician of any party who votes to kick the can down the road or votes in favor of anything that will increase the budget deficit (i.e., increase the national debt) should be turned out of office at the earliest opportunity. And by the way, the use of the term "spending cut" to describe a reduction in the increase in spending should be cause for tarring and feathering.
On its part, the public MUST wean itself from sucking at the federal teat and each person has to take steps to ensure his own economic well-being, as best he can. The alternative is turning the world's largest economy into mega-Greece, complete with riots in the streets.
If the people of this country spent as much time and effort focusing on the problems we face and studying the potential solutions as we have on the Casey Anthony trial, I'd feel a lot better about our future prospects. As it is, it feels more like we're on a party barge floating downstream on the Niagara River, and hardly anyone's listening to the roar of the falls.
Labels: Congress, Deficit, Economy, Federal budget, Financial crisis, government, Obama, Pelosi, Recession, Regulation, Reid, Stimulus, Unemployment
Saturday, July 31, 2010
Recovery Summer?
The image to the left (click to enlarge), which appeared on the front page of the Wall Street Journal on Saturday, 31 August as part of this story (might be behind a subscription firewall), is definitely worth a thousand words.
I'm no economist, but what these graphs say to me is, the recovery is anemic and might be headed for a "double dip", the stimulus didn't work, and the Administration and its allies in Congress have both made the recession worse and are killing economic recovery as a result of excessive and irresponsible debt and tax measures.
We MUST get rid of those people in November. If we don't, look at the videos of recent events in Greece--that's what our cities will look like in another year.
Labels: Congress, Debt, Deficit, Democrats, Economics, Economy, government, Obama, Recession, Recovery, Stimulus, Tax policy
