Posted on 07/13/2011 11:03:54 AM PDT by SmithL
Friday’s job numbers from the Department of Labortold a grim tale about the first 30 months of the Obama administration.
As President Barack Obama reminds voters constantly, the economy did not originally deteriorate on his watch, and that’s true. Yet the rise in the unemployment rate once again to 9.2 percent should put the final nail in the coffin of Obama’s economic stimulus strategy.
Having thrown nearly a trillion dollars at the economic mess, nearly every penny of which is spent, the president now finds himself facing continued deterioration with no end in sight. Having run up an unsustainable debt in the hope of creating lasting jobs in the United States, Obama finds himself out of ammunition and with no clear plan to forge ahead.
The American economy created only 18,000 jobs in June, not nearly enough to keep up with the number of young Americans and immigrants seeking new jobs. To make matters worse, the number of jobs created in the previous two months was revised downward by nearly three times that number. The industries one might expect would have benefited most from stimulus spending — construction and manufacturing — showed no growth. The stimulus is over, and it has failed.
The unemployment rate only measures the share of Americans without jobs who are actively seeking them, and so it understates the gravity of the situation. More and more Americans have simply stopped looking for work. Labor-force participation among working-age Americans has fallen to a 27-year low of 64.1 percent. Employed people now make up only 58.2 percent of the working-age civilian population, matching the 28-year low that was briefly achieved last year. In other words, the current state of the economy is prompting more and more American workers to take a forced early retirement or make other plans that don’t involve trying to find jobs.
It is likely that Obama’s policies — particularly his alliance with organized labor, his denunciation of business lenders and his attempts to steer the economy in a “green” direction more to his liking and less in line with market demand — have made matters worse. But what we can say with great certainty is that Obama’s stimulus has failed to achieve anything except a massive waste of taxpayer money and record federal deficits. To Obama’s claims that things would be much worse without the stimulus, it’s dubious and impossible to verify.
Like the two stimulus packages of his Republican predecessor, Obama’s stimulus has achieved nothing and at great cost. The next time politicians get bright ideas about stimulating market demand by creating make-work jobs and handing out cash as if there is no limit on what the federal government can spend, American voters should hold up the current example of failure and resist accordingly.
Everytime he talks about job creation, an hour later he’s talking about new regulations or policies to destroy jobs.
At the heart of the problem IMHO is uncertainty. Companies can deal with good news or bad news. They cannot deal with uncertainty because you can’t make decisions on an uncertain future. And everything with this guy is an uncertainty except 2012.
Nice thought, but sadly, it ain't likely to happen.
The only thing more disappointing than politicians' expectations that they can get elected by U.S. voters who are lazy, greedy, and have short memories, is the number of times the politicians are right. --------------------------------------------------------------------------------
Socialism doesn’t work. It hasn’t worked not matter who or where it has been applied. The U.S.A. is no exception.
The nation is literally being regulated into parallysis by Executvie Orders from BHO2:
Establishment of the White House Rural Council
http://www.whitehouse.gov/the-press-office/2011/06/09/executive-order-establishment-white-house-rural-council
Regulation and Independent Regulatory Agencies
http://www.whitehouse.gov/the-press-office/2011/07/11/executive-order-regulation-and-independent-regulatory-agencies
And this:
Memorandum—Regulation and Independent Regulatory Agencies
http://www.whitehouse.gov/the-press-office/2011/07/11/memorandum-regulation-and-independent-regulatory-agencies
Why do we have new immigrants? We’re in a depression and there isn’t work for people born here. Wouldn’t now be a good time to close the borders and suspend immigration?
But what we can say with great certainty is that Obama’s stimulus has failed to achieve anything except a massive waste of taxpayer money and record federal deficits.
Gee, and this comes to us from the Pelosi home town, the same Pelosi of the Pelosi and LA Waxman team that made up the porkulas grab-bag of $830 billion give-aways.
From 12 of 2009
"I do not believe in the power of the State to plan and enforce. No matter how numerous are the committees they set up or the ever-growing hordes of officials they employ or the severity of the punishments they inflict or threaten, they can't approach the high level of internal economic production achieved under free enterprise. Personal initiative, competitive selection, and profit motive corrected by failure and the infinite processes of good housekeeping and personal ingenuity, these constitute the life of a free society. It is this vital creative impulse that I deeply fear the doctrines and policies of the socialist government has destroyed. Nothing that they can plan and order and rush around enforcing will take its place. They have broken the main spring and until we get a new one, the watch wil not go. Set the people free. Get out of the way and let them make the best of themselves. I am sure that this policy of equalizing misery and organizing society--instead of allowing diligence, self-interest and ingenuity to produce abundance--has only to be prolonged to kill this British Island stone dead."
Had this President spent time in his formative years reading America's Founders' ideas of liberty, Burke's "Speech on Conciliation," and other world leaders whose admiration of American liberty and economic progress brought them to see the folly of government planning and control, he might be equipped to lead this great nation back to prosperity.
Instead, he immersed himself in ideologies whose consequences are disastrous to freedom, opportunity, prosperity and plenty, because they are imposed coercively by a political power elite. Under such regimes, individual liberty is lost, and nations are doomed to the dustbin of history.
America was for over 200 years a magnet for individuals yearning for liberty and the opportunity to achieve great things for themselves, their families and communities and the world.
The ideas of Mao, Marx, Lenin, and Keynes have not succeeded in any place where they have been imposed, and they will not succeed in America.
The French historian, Guizot, once asked James Russell Lowell, "How long will the American republic endure?" Lowell replied: "As long as the IDEAS of the men who founded it continue dominant." Source: "Our Ageless Constitution," p. 181, essay entitled "Will the Great American Experiment Succeed?"
He knows nothing about being a middle-class and so cannot sympathize with the majority of people in this nation.
Socialism doesn’t work — the countries that tried it failed (eastern bloc) or are failing (Sweden) and are all scrambling to become free market. The US tries this failed policy???? it does not make sense — it’s like seeing someone else get food poisoning in front of your eyes and still eating the same food thinking you can somehow not get affected
———nearly every penny of which is spent,-——
At least 1 billion is presently being recycled into the Re Elect the Messiah campaign fund. That which was spent is being kicked back
His policies have failed, yet he stubbornly sticks to them like a dog returning to his own vomit.
If he is re-elected, bye-bye Miss America for good, there will be nothing anyone can do in 2016 to repair the damage.
it will be irreparable, permanent.
Even if we get Sarah and a whizz-kid economist in 2016, after 2 terms of BHO, the only thing that can be done is damage control --> maybe make the US a nicer third-world country instead of a Congo-wannabe
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