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, 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
Friday, July 09, 2010
Unemployment Since 1995
Thanks to Glenn Reynolds for linking to this chart.
I suppose what it means to you depends on whether or not you believe in coincidence.
Just sayin'.
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I suppose what it means to you depends on whether or not you believe in coincidence.
Just sayin'.
Labels: Economy, Unemployment
