Skip to comments.Obama Faces Tight Restraints in Crafting Jobs Plan
Posted on 08/30/2011 3:06:51 AM PDT by MNJohnnie
President Barack Obama, hamstrung by budget cuts and a tight debt ceiling, is preparing a September jobs package with limited tools at his disposal to prime the economy and crank up employment.
At a minimum, the president's plan will call on Congress to extend current payroll tax cuts and jobless benefits, spend money for new construction projects and offer incentives to businesses to hire more workers. But economists say that while that would eliminate some drag on the economy and maintain the status quo, it won't be enough to propel it to new heights.
(Excerpt) Read more at foxnews.com ...
There are a bunch of tools 0 could use but will not. His overreaching Administration with it's silly war on domestic energy production, out of control regulators and totally counterproductive fiscal policy is the basic cause for our continuing economic stagnation.
O could do a lot to create jobs. Unfortunately he is too wedded to failed extremist economic and political doctrines to get himself, and the Federal Government, out of the people's way.
Tight restraints only if you are restrained by reality.
Obama has no such restraints.
Its all the Tea Parties fault... Or bad luck... Or whatever...
Raising taxes on the “wealthy” will improve the economy. Food stamps and unemployment benefits are “stimulus”. Spending borrowed money on “investments in the future” are good for the economy... Never mind that the borrowed money is really spending your future...
TRANSLATION: Continue to pay people NOT to work who have been sucking on the unemployment teat for years, and throw money at his corrupt union thugs.
Yeah....that's a GREAT plan.
I'd like to see him cut regulations, cut taxes, and reign in Moochell's and his fat mother-in-law's addiction to tax payer funded "vacations" for the rest of his current term.
Jobless "benefits" are part of a jobs plan? Since when?
"...spend money for new construction projects..."
Ahh. More money thrown after the trillions spent, typically to fund unionized jobs which can qualify to purchase the "Putting America Back To Work; Project Funded by The American Recovery and Reinvestment Act" signs. Of all the wastes of money, in an odd way, that one burns my ass as much as any other. Liberals are quick to say "But there is a company making those signs, employing people, who go out and purchase goods and services with that money!" Just saying that shows how little they understand economics, and how dangerous it is to have them pulling the levers of power.
"...offer incentives to businesses to hire more workers..."
What, incentives like some insignificant, dumb ass corporate tax credit for hiring a new worker? What kind of dumb ass company hires a worker they don't need, at an annual salary that is five to ten times the amount of the one-time tax credit? Companies only hire people because they NEED them. If companies don't NEED employees, they DON'T hire them. THAT is known as BAD BUSINESS PRACTICE, knowledge which is completely UNKNOWN to idiot liberals.
I swear, they are doing all they can to destroy this country and render it unrepairable before they are finally forced from office. It is as if their destructive capacities are being ramped up before they run out of time.
What I meant to say was “Hiring people you don’t need is BAD BUSINESS PRACTICE...”
| Remember Porkulus... 'shovel ready jobs' weren't shovel ready!
Obama's stimulus put unions ahead of a healthy economy. He placated the unions and torpedoed the private sector.
He'll keep promising us, ad nauseam, that he 'gets' what's happening with the middle class as he redistributes the wealth of America.
The 2.5 million jobs 'created or saved' comes from a formula. The formula comes from a theory. It says that for every dollar the government spends, 1.5 dollars' worth of economic activity is generated, and presto, jobs come out. The economic geniuses working for Obama want us to believe that by definition, since they spent almost a trillion dollars in 'stimulus', they automatically created jobs.
Once you know about this magic formula in which any government spending creates jobs, much becomes clear. That's why Pelosi claimed that unemployment insurance creates jobs faster than almost any other initiative. The Secretary of Agriculture told us August 16, 2011 that Food Stamps are an economic stimulus, explaining that every dollar of food stamp benefits generates $1.84 in the economy in terms of economic activity.
The Congressional Budget Office reported that through the first quarter of 2011 the stimulus created between 1.6 million and 4.6 million jobs, increased real GDP by 1-3 percent, and reduced unemployment by up to 1.8 percentage points. Where did the CBO get these figures? It made them up using formulas.
Payments to state and local governments for infrastructure were estimated to have a multiplier of between 1 and 2.5, whereas the multiplier for unemployment benefits, food stamps to individuals was between 0.8 and 2.1.
That's it. That's the only reality to 2.5 million jobs created or saved.
The GDP grew 1% for the fist 6 months of 2011. This growth rate is actually a 1.5% decline. It takes a 2.5% growth rate for us to stay even, when factoring in the nation's population growth.
So now we know... 'CHANGE' = MORE Spending MORE Debt MORE Golf MORE Taxes MORE Welfare MORE Regulation MORE Government MORE Money Printing MORE Vacations MORE Porkulus MORE Formulas MORE Failure Thanks Mr. President.
The media is going to go full Orwell to try to get Obama re-elected. That hated Tea Party is wrecking the plan to give everyone a slice of socialist pie -- free healthcare and a Lexus -- for doing absolutely nothing.
It's all a crock... of BarackCountdown until Obama leaves Office: 508 days as of August 30, 2011.
It goes something like: Bush increased the debt by (very large percentage) but Obama only increased it by (much smaller percentage) so its not true Obama spent very much money and he has done better on the economy than Bush...
In other words someone in the Obama Admin wrote a memo that basically has told all the Obamabots we need to get the American Public to ignore reality and put the blame on Bush.
Sadly the Lame Stream Media is starting to use this meme though I've noticed some are rolling their eyes while they do it.
And this doesn’t even take into account the fact that he’s remarkably stupid, ignorant, arrogant, and his entire administration is being stage-managed.
I am never one to say much of ANYTHING when any kind of tax is reduced, but...does it strike anyone else as odd that the program that is scheduled to go bankrupt...no, wait...IS bankrupt, is being defunded to try to prime the economic pump by liberals? Is that odd? Does anyone know why?
This has just boggled my mind since it was announced. After thinking about it, I assume that they want SS to go bankrupt and be replaced by a Guaranteed Income/pension scheme.
Then, no one can say:”We’ve paid into it.”, but the government can say “We control you.” However, they won’t need to. Let this sort of scheme be in effect for even one year and the entire populace will riot over any reductions, ala UK/Europe.
This will *equalize* benefits, because they will take from those who have earned a decent retirement benefit to give *something* to everyone. They sell a safety net, while, in reality, destroying it. And yes, of course it will take printing currency. So, while everyone gets a pittance, it will not provide one bit of security. So, in addition to the Guaranteed Income, there will be guaranteed food subsidies, rent subsidies,energy subsidies, health care subsidies and transport subsidies. There will, however, be scarcity of all these necessities, necessitating political triage to decide who gets what. If anything.
As a political side benefit, they can now demonize all GOP who want to restore the payroll deductions.
As usual, never look at what they say, but at what they do.
There are many roads to Communism.
But don’t forget - he da smartest president ever! /s/
Many of us would dearly like to see Obama in restraints.
And to Serfdom as well...this stuff scares me. I have spent my adult life saving and planning for my retirement, and in the back of my mind, I can easily forsee a scenario where the government will find a way to seize my retirement and throw it into a common pool.
Who would have thought a day would come when this could even reside in the back of my mind?
Guaranteed Income has been their goal for at least 50 years. They can only “tax the *rich*” for as long as there any *rich*, even if they move the bar lower and lower. At some point, they must confiscate savings, only they will call it “hoarded wealth”. Once that is accomplished, any hard asset like real estate or precious metals or tools that can be used to produce income will be taken, one way or another. After all, it was only due to ill-gotten gains.
What is frightening is that in less than 3 years, they have come so far and they did it without confiscating guns or eliminating elections.
The next meme will be along the lines of: “Well, you have what you need and that is enough, so you shouldn’t care if your assets are collectivized in the name of democratic equality.”
None of this will apply to the political elite or any other protected class. The basic social crime will be “breathing while middle class & white”. No one will do anything much because it is trendy to hate the successful, the resourceful and the productive.
Majority will rule and the majority will want what anyone else might have. The only defense will be joining The Church of the Low Profile.