American Elephants


Looks like it’s going to be a loooong recession!
July 10, 2011, 1:09 am
Filed under: Economy, News, Politics, Taxes | Tags: , , ,

When the June monthly jobs report came out, we had remarks from the President in the Rose Garden. The jobs report was dreadful. Obama said that “what matters most to me as President, in the wake of the worst downturn in our lifetimes, is getting our economy on a sounder footing more broadly so the American people can have the security they deserve.”

“And that means getting back to a place where businesses consistently grow and are hiring, where new jobs and new opportunity are within reach, where middle-class families once again know the security and peace of mind they’ve felt slipping away for years now.” Well, businesses consistently grow and are hiring, opportunity within reach— that sounds good, but my America is not a “class” society.

The Treasury has 5 divisions for convenience of tax tables and judging how the poor are doing. Americans move from low income, often to the highest income, and back again as they retire. Liberals are intent on sorting us into the poor and the rich and class envy. If you are poor, you are supposed to hate the rich who oppress you, and liberals will redistribute the wealth of the rich to make the poor stop being poor— except that never, never works. But this is a minor quibble.

It’s the “middle class families once again know the security and peace of mind they’ve felt slipping away for years” part that really gets to me. It’s all George W. Bush’s (as usual) fault, because all this began long ago before Obama had anything to do with it and it is obviously not his (Obama’s) fault.

“We’ve always known that we’d have ups and down on our way back from this recession.” Well, no we didn’t. Evidence from past administrations, Harding, Coolidge, Kennedy, Reagan and — George W. Bush — have shown that targeted tax cuts and business-friendly policies can make recovery from recessions not only possible, but short. Democrats have been telling themselves for years that their hero, Franklin Roosevelt, saved the country from the Great Depression with a program of government spending. Keynesian economics. It didn’t work then and didn’t work now.

Obama goes on to blame natural disasters, spikes in gas prices, state and local budget cuts that “have cost tens of thousands of cops and firefighters and teachers their jobs.” This latter is pure hooey. And he claims that the problems in Greece and Europe, along with uncertainty about the debt limit are what has made business hesitant to invest more aggressively. Uh huh.

There are over a million construction workers out of work” so Obama is back to his “infrastructure” thingy. Crumbling bridges, railways, highways. He wants more money to invest in infrastructure. He tripled the deficit Bush left so he could invest in infrastructure, but the money ended up wasted and built nothing — nothing at all. But this time, he’s ready to invest some more. “I’m ready to roll up my sleeves over the next several weeks and next several months.”

A line from Wall Street Journal columnist Holman Jenkins Jr.’s column this week comes to mind: “If ever a president seems to have learned nothing from the times he’s living in, Barack Obama is it. Economies around the world are foundering from an accumulation of policy excesses produced by the sort of straight-line, robotic thinking he’s applying…” Jenkins was writing about CAFE standards, but the observation applies.

So what has the president been doing to create the desperately needed employment? He’s been demonizing the corporate jet industry which had experienced a modest recovery. Potential buyers have second thoughts when the president suggests increased future taxation or increased regulation, and the airplane sector has been one of America’s greatest exports. The General Aviation Manufacturers Association and the International Association of Machinists and Aerospace Workers point out that words have consequences for their industry. Ed Driscoll lists some of the other industries that Obama has demonized, careless of the effect of his words (and the threat of regulation or taxation included). Remember when he demonized corporate meetings in Las Vegas and business in Las Vegas collapsed?

There’s no recession for Obama’s 454 White House aides. They will make $37,121,463 this year. That’s up by seven staff members from the Bush Administration and up by $4 million in salaries from 2008. Six-figure salaries for more than a third, but some 54% got raises averaging 16%, which pushed payroll costs up by 8%. In the private sector, raises average 0.4% in these recessionary times. In his Twitter Town Hall, Obama denied any salary increases. Wasn’t there something about a government pay freeze?

There is an astounding disconnect with the real world and real problems, despite his words. He has no grasp of the spiraling costs of the government of which he is chief executive. He browbeats business and Congress but makes no connection between government action and the unwillingness of businesses to spend. It’s going to be a l-o-n-g recession.

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1 Comment so far
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Your point is well made / however BARACK as HILLARY
as democrats inhetited an dire situation in taking Govt…

Republicans in govt were lead by a band of extreme right
wing religious halfbaked fanatics, when placed in office of
govt they abandoned international law / as domestic laws
and declared their holy crusade against muslims /the end
result many hundreds of thousands killed // torture deaths
destruction / suffering / bringing /an river of blood of tears.

When republicans knew they would be evicted from govt
they then turned their hate malice upon their own people
they removed banking regulations /such safeguards that
placed to prevent banking fraud. With banking regulation removed bank doors were opened unto banking fraud on
a scale as was unknown /but soon becoming very evident
with a western banking crisis /bringing a banking collapse.

The republicans did not only bring devistation unto other nations // they brought their own people unto their knees
( not in prayer ) but shame at their actions agin humanity
as such sorrow //of their own nation plunged into poverty.

The sad fact / republians did not win the election placing
them in govt / it stolen through massive voting fraud / as
aided by an corrupt supreme court ruling / that declared
republicans election winners / a sad sad day for America.

There’s only one way out of the dilema americans having
found themselves /such by working together in accepting
great wrongs done / abled in learning from their mistakes.

There must be a healing process with other nations / not
a attitude of malice / hate // as backed by endless media
propaganda / turning nation against nation. Such a path
will only result in a nuclear conflict / bringing destruction
suffering on a scale that simply unthinkable // or wanted.

One can take a attiude of punishment to the wrongdoer
yet it achieve little in putting matters right / in reality one should give their focus unto a cure / not the punishment
such the case for americans. It’s a time to turn the page
of history /in learning from the past / in building bridges
unto an future // where the focus on unity. / Not division.

Comment by william wallace




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