Filed under: Capitalism, Democrat Corruption, Domestic Policy, Economy, Energy, Law, Politics, Progressivism, Statism
The American people have been remarkably clear. They are worried about jobs and the economy, while their government is busy doing other things. President Obama has been pivoting to jobs, focusing on jobs, pivoting to a jobs tour, and focusing on jobs creation. The Worst Recession since the Great Depression ended, officially, in June of 2009. It was a sharp downturn, caused by the collapse of the housing bubble and subsequent turning bad mortgages into bad investment vehicles. But the official end should have had things starting to turn up. Didn’t happen.
The jobs crisis is far worse than official data show. Based on the U-6, the government’s alternative unemployment measure, joblessness is now at 14.3%. The BLS puts out several “alternative measures of unemployment. The U-6 gauge adds to ordinary unemployment those who are discouraged and have stopped looking, part-time workers who want full-time jobs and those who are “marginally-attached” to the workforce. So the real rate of unemployment is about 14.3% — nearly two-thirds higher than when the recession began in December 2007.
Remember that the population is growing all the time. Investors’ IBD-TIPP poll has shown consistently over the past five years that the total number of those who don’t have full-time jobs but want them has consistently hovered above 20 million. And, IBD says, it won’t get better. ObamaCare, as recent surveys of employers indicate is one of the most efficient job-killers ever signed into law.
To that, you must add layers of regulation, higher taxes on entrepreneurs and soaring debt that will drain capital from private enterprise for decades to come. The biggest role in holding back the economy is played by the government. The progressive wing of the Democrat party despises business, and plans to regulate, tax and control the economy into doing their bidding. Job creation begins and ends in a healthy profitable private sector, not with big government and welfare handouts. They don’t like business, they don’t like profit which they believe to be unnecessary, and they hold themselves in such high esteem that they are sure that an economy controlled and regulated in tune with their ideas will be much better for everyone. But as Margaret Thatcher used to say “Sooner or later you run out of other peoples’ money.”
Doug Ross has assembled some startling economic facts that you won’t see in the mainstream media. The United States was once ranked at #1 in the world in GDP per capita. Today we have slipped to #14. Since the year 2000, the United States has lost a staggering 32 percent of its manufacturing jobs.
But never fear. Scandals and investigations can be set aside: the president is once again going to pivot to jobs, refocus on jobs, make a big jobs speech on Wednesday, focus on job creation, turn his attention to the economy, pivot to jobs as a key theme, and pivot to jobs creation. The NRCC assembled a list of 11 predecessor pivots. We are told that “this moment is so important that you won’t want to miss it,” he’s taking Air Force One to Knox College in Ohio, (they must be having a summer session) once again.
Obama will trot out another bit about how Washington (the GOP) “has taken its eye off the ball on the most important issue facing the country.”Hmm, it was Obama who abandoned his promised focus on jobs right after the election, spent months pushing gun control, decided immigration was the big item and pushed the Gang of Eight Bill, decided to give a major speech on climate control, and is now off on a race tangent.This is supposed to be one in a series of speeches on the economy before the Obamas depart for Martha’s Vineyard and another expensive vacation.
The president deeply believes in his ability to persuade. After all, that’s what community organizers do. But he also believes deeply in an ideology and policies that naturally lead to the City of Detroit’s bankruptcy filing. If he wants to create jobs, he’s going to have to change his mindset, and that he will not do.
The administration does not know how to create jobs. After five years that should be clear. Their natural instincts and most basic beliefs do not allow them to do the things that job creation would entail. Cut taxes? Eliminate unnecessary regulation? Encourage more cheap and abundant energy? Rein in the EPA? Encourage profit-making? Insist that welfare applicants who are able search for work? You must be joking.
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