Filed under: Bureaucracy, Capitalism, Democrat Corruption, Domestic Policy, Economy, Education, Free Markets, Freedom, Politics, Progressivism, Unemployment | Tags: Black Unemployment, Larry Elder, President Barack Obama
A question that seems appropriate for Martin Luther King Day. Here’s Larry Elder, appearing for Praeger University. President Obama, was elected as the first Black President of the United States, with expectations that he would do much to improve the situation of blacks in the country. Instead his economy has been more devastating to the black community than anyone else.
Worrying about the black vote has meant more welfare and fewer jobs. The Keystone XL pipeline promised 13,000 high paying construction jobs, but that was trumped by Tom Steyer’s promised $100 million to the Democrats for rejecting it. Obama’s excuse was that construction jobs are only ‘temporary.’ Of course they are, but successful work on one construction job means a leg up on the next construction job. The unemployment rate for blacks has been nearly twice the rate for whites.
The Left does not understand the effect of incentives. A study from the University of Chicago concludes that “in response to the recession, several U.S. safety-net programs changed in ways that discouraged employment. Unemployment insurance, for example, was made more generous in multiple ways. Eligibility rules for food stamps were reduced, waivers from work requirements were granted, and the monthly benefit amount was increased.”
People are not apt to look hard for work, or even accept a job offer that is not quite as good as hoped, when remaining unemployed is made more comfortable. Sounds ‘mean,’ perhaps, but what people need and what the country needs is not the comfortable unemployed, but the happy and independent worker.
The most surprising of Obama’s initiatives was his failure to support the D.C. Opportunity Scholarship Program. He has worked hard to get rid of it, yet it has benefited so many black children. Inexplicable. But the teacher’s unions don’t like the scholarship program.
The Left has long believed in, essentially, buying votes. Bernie Sanders and Hillary Clinton are busily engaged in trying to compete in benefits they will give to those who vote for them. Free college tuition (where does the money come from?), and a false assumption that every child must go to college. Higher taxes on the rich (exceedingly modest benefit) and “the rich” are often those who create jobs. Raising the minimum wage has been clearly shown to be a job destroyer. Universal pre-school may be welcome baby-sitting, but any educational benefits have disappeared by 3rd grade.
What we need is a healthier economy that is creating jobs for everyone. The Obama administration has hampered growth with raised taxes on productivity, and a huge burden of regulation.
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