Posted on 07/03/2009 6:11:11 AM PDT by reaganaut1
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[T]he loss of 467,000 jobs for the month is one more sign that the economy still hasn't hit bottom despite months of epic fiscal and monetary reflation.
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Congress has scheduled an increase in the minimum wage later this month, which will price even more of these unskilled youths out of a vital start on the career ladder. One useful policy response would be for Congress to rescind the wage hike to $7.25 an hour (from $6.55) that is scheduled for July 24. But the union economic model that now dominates Washington holds that wages only matter for those who already have jobs. The jobs that are never created don't count.
[P]resident Obama said Congress should pass his cap-and-tax on carbon energy because "If we're weatherizing every building and home in America, if we are creating windmills and solar panels and biofuel facilities, that is a huge promising area not only for jobs here in the United States, but also for export growth." [...] With manufacturing on its back, enacting a new energy tax to drive more jobs offshore is crazy even on Keynesian grounds.
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As always, a sustained expansion and job creation must come from private investment and risk-taking. Yet as America's entrepreneurs look at Washington they see uncertainty and higher costs from a $1 trillion health-care bill; higher energy costs from the cap-and-tax bill that just passed the House (see below); new restraints on consumer lending in the financial reform bill; new tariffs and threats of trade protection; limits on compensation and banker baiting; and the possibility of easier unionization, among numerous other Congressional brainstorms.
None of this inspires "animal spirits." The best thing Mr. Obama could do to create jobs would be to declare he's dropping all of this and starting over.
(Excerpt) Read more at online.wsj.com ...
Keep dreaming.
LOL! Teenage unemployment at 24% so the democrats raise the minumum wage.
d.oh.
Is it just me, or does this sentence need some editing?
Best thing he could do is declare a total abatement of federal income tax across the board for the rest of 2009- and see what happens within 60 days.
Obama is so ignorant he doesn’t know that to create new jobs, businesses have to first invest in job tools so the new workers have what they need to do the job.
Investing in new job tools requires capital, and Bush and Obama sent billions of dollars of capital out of the country when they gave it away to banks and other financial institutions, who then paid off their foreign investors. Bye bye capital.
There is very little investment capital for businesses today. That’s one of the main reasons for the unemployment situation. Well, that and the fact that most Americans are scared shiftless about spending money they might need in comping months to pay the rent and the electricity bill.
But I didn’t stay in a Holiday Inn Express last night, so I’m probably wrong.
Raising the minimum wage and giving power to the unions...now that’s just brilliant!
Where did last summer’s rush to get DRILL NOW go?
Somebody needs to grow a pair and revive that idea.
Can we have Ellie Mae sniff for oil John Boehner?
......The jobs that are never created don’t count. ......
Word to this effect were posted here by Bert last week.
It was also noted that if you can count saved jobs, you must count jobs not offered.
The best thing Mr. Obama could do is step down nobody could screw things up more than Obama.
But I didn’t stay in a Holiday Inn Express last night, so I’m probably wrong.
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LOL
Neither did Nancy Pelosi and her family in Italy....I think it was the Ritz Carlton!
Now I gotta go frost some cupcakes!
comping months = coming months
I actually don't want him to do that because he doesn't believe in it.
The dirty little secret about the minimum wage is that the “prevailing” union wage is directly tied to it. So, if the minimum wage goes up, all prevailing union wages go up with it. This is especially true in government contracting where the prevailing wage is used quite extensively.
Those clowns in DC could not even run a candy store, matter of fact they even run their own cafeteria in the ground a couple of years ago. On the other hand it will be a good idea for the public to see where socialism is getting them. Apparently California, New York, New Jersey etc. has not been enough of a lesson and the real wake up call may not come until the whole country suffers the same fate.
This is my take Saint Germaine
Ohio court says prevailing wage confined to site
http://www.examiner.com/a-2073830~Ohio_court_says_prevailing_wage_confined_to_site.html
Oh, you have nothing to apologize for.
I was just posting some BREAKING NEWS out of Ohio about this for everyone here.
I’m the one that should have been more clear.
Enjoy your holiday!
When gas hits $4, it will be back.
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