Posted on 10/20/2009 4:05:52 PM PDT by Son House
Listened to an interesting talk today by Jared Bernstein, chief economist to Vice President Joe Biden, at a New America think-tank conference on job creation. A few observations:
1) If Bernstein’s talk was any indication, don’t look for much public celebration by the White House if we get some good 3Q and 4Q GDP numbers. As he put it, “Absent robust job growth, it is not a true economic recovery.” He stressed this point several times. I don’t even think you will hear an administration official use the word “recovery” in 2009.
2) Bernstein trotted out several interesting slides — which I am hoping to get hold of — that displayed the severity of the job market’s woes. It really seems like the big problem is not so much layoffs as it is a lack of hiring. Thus the high numbers of long-term unemployed.
3) He didn’t hint at much appetite for the grander second stimulus ideas like a job investment tax credit. (CBO would probably score such a plan as costing $75 billion a year or so, according to an earlier speaker.)
(Excerpt) Read more at blogs.reuters.com ...
In unveiling the report, Jared Bernstein, the chief economist for Vice President Joe Biden, said it shows the administration is “solidly on track” to accomplish its goal of saving or creating 3.5 million jobs by next winter.
Writer James Pethokoukis is plainly wrong about layoffs not being a devastatingly large problem.
That said, the high numbers of the long-term unemployed are easily explained by the Marxist Obama administration's (and the Dem Congress') outright hostility toward the producer segment of the economy. No sane business owner would be hiring seeing the storm clouds of socialism on the horizon.
This high number of unemployed thingy is nothing less than a lost jobs QUAGMIRE, and taxing the productive engine of the economy to death will not hire back one peep.
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No worry. Obama’s got some great ideas. How about pulling the rug out from under our (barely) free-market but robust just the same health care industry, scramble it and remake it as a taxpayer funded entitlement costing trillions of dollars while raising costs and taxes/fees and decreasing service and quality for all? And while we’re at it, why not yank the foundation from under our energy sector, scramble it, and “revolutionize” it with “green” technology that’s not even here yet. Yeah, great idea. And might as well slap a new carbon tax on energy and increase the costs of every product and service manufactured, distributed or transported in America (and around the globe) and increase the costs of fuel, electricity and heating to every inhabitant while you’re at it. Might as well go through with your plans to bankrupt the coal, oil, gas and energy sectors and bankrupt the whole damned country. Of course that’s after bankrupting the housing, finance, banking, manufacturing and transportation industries. Other than that, Obama is a financial genius. Recession? Depression? How about scorched earth?
The right hand doesn’t know what butt opening the left hand has a finger in.
Its a depression...just ask Biden
Yep, Bernstein says one thing to the DC crowd, and then releases a outright lie, well, unless you figure in the jobs saved /(1/2)Sarc and that would be the latter half
a little background on the venue where the speech was given:
The New America Foundation is a non-profit public policy institute and think tank located in Washington, D.C.. It was founded in 1998 by Ted Halstead, Sherle Schwenninger, Michael Lind and Walter Russell Mead.
In 2007 Steve Coll, a former managing editor of The Washington Post, succeeded Ted Halstead as President of the New America Foundation. Well-known board members include political commentator Fareed Zakaria, Christine Todd Whitman, international relations theorist Francis Fukuyama, Atlantic Monthly correspondent James Fallows, former Federal Reserve Vice Chairman Roger Ferguson, and economist Laura D’Andrea Tyson. Google’s CEO, Eric Schmidt, is chairman-elect of the foundation.[1].
Thanks for that, seems to lend itself to thinking he was saying one thing to the DC insiders, while releasing a false impression to fly-over country
free MS program to view PP:
Thanks too, here’s that link, I think the html mess up somehow;
http://www.newamerica.net/events/2009/jobs_defict
No wonder they get along so well with the “Palestinians”.
FYI - Ping to #13 with link at #16.
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