Filed under: Capitalism, Economy, Health Care, Taxes | Tags: 41.8 Million on Food Stamps, Election 2010, More Unemployment
Filed under: Capitalism, Economy, Health Care, Statism, Taxes | Tags: Don't Raise Taxes in a Recession, Irresponsible Congress, Stop Spending!
The American economy lost 95,000 jobs in September. According to the Labor Department that leaves the household survey unchanged at 9.6 percent. That means that about 14.6 million people who are looking for work can’t get a job. The jobless rate has been above 9 percent since May of 2009, the longest stretch in a quarter of a century.
Gallup says that the Labor department is understating unemployment which they place at 10.1 percent. But this just considers those who are unemployed and looking for work, not those who are discouraged and have stopped looking, nor those who are working part-time, though they want full-time employment. That rate is over 17 percent.
There is not much the Fed can do. The problem is a great cloud of unknowns hanging over the economy. Business is afraid to spend, afraid to expand and afraid to hire.
Congress went home without passing a budget. What increases in expenditures and increases in taxes does it contain? What new regulations will this Democrat Congress impose on business? What new costs? Will Obama impose a moratorium on their business as he did in the gulf?
Obama not only took over the automobile industry, but ordered private businesses, car dealers, entrepreneur-owned, whose connection with the auto industry was that they purchased cars to fill their lots from the car companies. Privately owned business! Wiping out the car dealers livelihood and that of their employees. If you do not understand how frightening such arbitrary and unlawful actions would be to American business, consider the potential of the administration suddenly deciding to shut down the business where you work.
ObamaCare has a poisonous provision that requires business to submit a 1099 form to the IRS every time they spend $600 with a vendor. The deep unfamiliarity of this administration and this Congress with American business and how it works is demonstrated in every bit of legislation passed. They simply do not understand the consequences of their lack of understanding.
Barack Obama is out on the campaign trail, cajoling, whining, pleading for his base not to desert him. He has stopped blaming George W. Bush by name, he just refers to the dreadful past decade that “put us in the ditch.” But it was Obama’s failed stimulus that cost more than the entire Iraq War. The decade of the Bush years was pretty darn good. Unemployment ranged from 5.7% in 2001; down to 5.4% in 2004; 4.8% in 2005; down to 4.4 % in 2006, when the Democrats took over the House of Representatives, and Nancy Pelosi became Speaker.
Nancy Pelosi seems to believe that the best jobs program is more unemployment insurance. She said economists (unnamed) assured her that “if you want to create jobs the quickest way to do it is food stamps and unemployment insurance. “She said: “Biggest bang for the buck! Unemployment and food stamps.”
We currently have 41.8 million people on food stamps — the most ever. We have a 7.2 million jobs gap. Unemployment is higher now than when the recession “officially ended” in June.
The biggest uncertainty hanging over American business is the huge tax increase on January 1, if Democrats do not act to extend the Bush tax cuts. The president is intent on raising taxes on singles who earn over $200,000 or couples who earn over $250,000. This includes all the entrepreneurs who file as individuals, as partnerships or subchapter S corporations. That’s a large number of those who potentially hire. Neither poor people nor those in the middle class create many jobs. On top of that are new taxes on dividends, capital gains and a return of confiscatory death taxes. In other words Obama wants to tax away the money that would expand business, create new business and create new jobs.
Economists, Congressmen , businesses, think-tanks, Republicans, Libertarians and a goodly number of Democrats have tried to tell the president that it’s not wise to raise taxes during a recession — any taxes. Europeans are going in the opposite direction, cutting taxes, cutting spending, initiating austerity programs, and recovering, and they too have suggested to Obama that he is heading in the wrong direction.
A wake-up call in November might just help.
Filed under: Capitalism, Economy, Election 2010, Health Care, News, Politics, Progressivism | Tags: Obama, Stack of Stuff
Like many bloggers, I suspect, I have far more things that I want to write about than I have time to write about them, so I’ve developed this horrible habit of leaving those stories open in browser windows thinking that I will get to them soon. But more often than not, I don’t. This week ‘s been particularly bad — right now, I have 56 open Firefix windows on my desktop — all stories waiting to be written. And as I am sure you can guess, I’m never going to get around to writing them all. Fortunately, the Elephant’s CHild has been doing quite well without me.
The pitfalls of blogging under a Democrat regime that has thousands of bureaucrats and politicians moving as fast as they can on all fronts to grow government, seize power, and move the country as far left as they possibly can.
But still, I don’t want to just NOT write about all these stories I have piled up. So, I’m going to try a bit of a document drop, as it were, to thin down the stack of stuff:
This week in presidential symbolism:
- Presidential seal throws itself off Obama’s lectern.
- Man wearing Obama mask robs small business.
- Dozens fall ill at Obama rally.
Obama promised HOPE™ — he has delivered despair:
- Nearly one in ten Americans depressed.
- Middle-aged suicides on the rise.
- NYC landmarks becoming suicide haven.
- World economy decoupling from US.
- IMF: West stuck in near depression.
- Private sector sheds another 95,000 jobs in September.
- Experts: New Obama EPA rules will destroy more than 800,000 jobs.
How Democrats operate:
Expand government, pay off special interests, and get as many new people hooked on government handouts as possible — then claim there isn’t enough money for the things government is already obligated to do. They do this at the local level, where if you oppose their tax increases they claim it will mean fewer ambulances, firefighters and policemen, while needle-exchange programs and light-rail boondoggles go forward fully funded.
And they do it nationally:
Democrats spent everything we have, and then some (and then some MORE) tripling the deficit in their first budget, and then quadrupling that record-busting budget in their second. They spent trillions paying off union thugs and other political donors, and massively growing government for partisan gain, then they have the gall to come back to the American people and claim there isn’t enough money left for cost of living increases for Social Security recipients. Then they, and their media lapdogs have the further gall to pretend Republicans are the bad guys for opposing the increased spending to pay for what should have been paid for LONG before anything Democrats have already spent money on.
But Republicans can and will pay for those increases without increasing spending one dime — by defunding Obamacare and the rest of the Democrats reckless agenda.
- Experts: Obamacare to worsen doctor shortage.
- Confidential patient information accidentally posted online.
- Obama kills the rule of law in favor of favoritism for the lucky few. McDonalds, 29 other companies get Obamacare waivers. Millions of others dont. It depends who you know, and how much you contributed to their campaign, and how much press coverage you can get.
No wonder this president (who said he wouldn’t rest until the economy was fixed) can’t seem to stop going on vacations.