Green Energy
Dick Morris at Front Page Mag:
The Summer of Unemployment
Posted by Dick Morris
In our book “2010: Take Back America — A Battle Plan,” we write:
The Obama stimulus plan has finally kicked in: The higher spending he brought to our nation and the debt levels that are accompanying it are the result.
Why is unemployment remaining so high? Because the totality of Obama’s policies are dragging us into a depression.
— The prospect of dramatically higher taxes next year is freezing consumer spending, particularly in the upper-income ranges, which spend a third of America’s consumption.
— The huge changes that are looming in medical care brought about by Obama’s health care legislation are freezing new employment and expansion in the medical sector, which accounts for 16 percent of gross domestic product.
— The financial reform legislation has so raised the prospect of a federal takeover of any bank that makes “imprudent” loans that financial institutions are afraid to lend, freezing new job creation.
— The looming possibility of cap-and-tax legislation in the name of halting climate change is freezing any expansion in the manufacturing and energy sectors, since these policies will force jobs to move overseas to locations that do not impose such a tax (e.g. India and China).
— The massive expansion in the deficit and in the resulting debt has so eroded confidence in our nation’s future that Americans are now saving 6 percent of their income, up from 1 percent in the past, sapping consumer spending.
— The threat of new rules for union elections that will spread private sector unionization is freezing business expansion plans.
Obama’s rush to spend, regulate, re-engineer, redistribute and tax have stopped any recovery and are sending us back into recession.
In her wonderful book, “The Forgotten Man,” Amity Shlaes notes how FDR’s policies in the late 1930s did the same thing. She notes how the imposition of the Social Security tax in 1937 (benefits did not start until 1941) and the rapid wage hikes that accompanied the passage of the Wagner Act (steel worker wages rose 40 percent in 1937) sent a recovering nation back into a new depression that lasted until the war started in 1939.
In his haste to remake America and bring us the “fundamental change” he promised as he campaigned for president in 2008, Obama has torpedoed the recovery and sent us back into a double-dip recession.
The answer is to cut spending back to pre-Obama levels, reduce taxes and eliminate the threat of tax increases, zero fund the changes Obama has legislated in health care (and repeal them in 2013), eliminate the threat of cap-and-tax and lay the basis for solid economic growth.
We have left the recession that started in 2007 and entered a new recession caused by Obama’s policies.
-
Washington Times: Unemployment rates rose in 44 U.S. states in July WASHINGTON (AP) — Unemployment rates rose in 44 U.S. states in July, the most states to show a monthly increase in more than three years and a reflection of weak hiring nationwide.The...
- Newsmax Is Delusional
There is no way a sane person can use this headline with a straight face. Sure, first time applicants dropped last week. Because it was the week before Christmas. Tell me that in mid-January when all those seasonal hires are back on the street. As for...
- Now Warning From The Left:the Latest Jobs Numbers And The Very Real Chance Of Another Great Depression
TNR:Disaster Not AvertedThe latest jobs numbers and the very real chance of another Great Depression.Dean BakerJune 6, 2011 | 12:00 amWhen the financial system was on the edge of melting down back in the fall of 2008, there was much talk in the punditocracy...
- For Discussion: Deficit Reduction
HERE in the Washington Post you can read the highlights of the deficit-reduction proposals. The include the following:-Overhaul individual income taxes and corporate taxes. For individuals and families, eliminate a host of popular tax credits and deductions,...
- The Sins Of The Government Fathers Should Be Visited Upon The Sons, Even Unto The Fifth Generation
or something like that. . . Newsmax: Obama: U.S. Must Spend Itself Out of Recession Tuesday, December 8, 2009 10:51 AM WASHINGTON – President Barack Obama outlined major new government stimulus and jobs proposals on Tuesday, saying the nation must...
Green Energy
Dick Morris at Front Page Mag:
The Summer of Unemployment
Posted by Dick Morris
In our book “2010: Take Back America — A Battle Plan,” we write:
“The prospect we now face is not the intermittent up-and-down fluctuations ofThe recent rise in unemployment back up to 9.6 percent and the loss of 54,000 jobs in August suggest that our prediction is — dismally — coming true.
unemployment we have had since the Great Depression. Thanks to Barack Obama’s
policies, we’re confronting the possibility of an unemployment rate that never
comes down, just as they have in Europe. If we stay on Obama’s course, lower
joblessness in the United States will be a thing of the past.”
The Obama stimulus plan has finally kicked in: The higher spending he brought to our nation and the debt levels that are accompanying it are the result.
Why is unemployment remaining so high? Because the totality of Obama’s policies are dragging us into a depression.
— The prospect of dramatically higher taxes next year is freezing consumer spending, particularly in the upper-income ranges, which spend a third of America’s consumption.
— The huge changes that are looming in medical care brought about by Obama’s health care legislation are freezing new employment and expansion in the medical sector, which accounts for 16 percent of gross domestic product.
— The financial reform legislation has so raised the prospect of a federal takeover of any bank that makes “imprudent” loans that financial institutions are afraid to lend, freezing new job creation.
— The looming possibility of cap-and-tax legislation in the name of halting climate change is freezing any expansion in the manufacturing and energy sectors, since these policies will force jobs to move overseas to locations that do not impose such a tax (e.g. India and China).
— The massive expansion in the deficit and in the resulting debt has so eroded confidence in our nation’s future that Americans are now saving 6 percent of their income, up from 1 percent in the past, sapping consumer spending.
— The threat of new rules for union elections that will spread private sector unionization is freezing business expansion plans.
Obama’s rush to spend, regulate, re-engineer, redistribute and tax have stopped any recovery and are sending us back into recession.
In her wonderful book, “The Forgotten Man,” Amity Shlaes notes how FDR’s policies in the late 1930s did the same thing. She notes how the imposition of the Social Security tax in 1937 (benefits did not start until 1941) and the rapid wage hikes that accompanied the passage of the Wagner Act (steel worker wages rose 40 percent in 1937) sent a recovering nation back into a new depression that lasted until the war started in 1939.
In his haste to remake America and bring us the “fundamental change” he promised as he campaigned for president in 2008, Obama has torpedoed the recovery and sent us back into a double-dip recession.
The answer is to cut spending back to pre-Obama levels, reduce taxes and eliminate the threat of tax increases, zero fund the changes Obama has legislated in health care (and repeal them in 2013), eliminate the threat of cap-and-tax and lay the basis for solid economic growth.
We have left the recession that started in 2007 and entered a new recession caused by Obama’s policies.
-
Washington Times: Unemployment rates rose in 44 U.S. states in July WASHINGTON (AP) — Unemployment rates rose in 44 U.S. states in July, the most states to show a monthly increase in more than three years and a reflection of weak hiring nationwide.The...
- Newsmax Is Delusional
There is no way a sane person can use this headline with a straight face. Sure, first time applicants dropped last week. Because it was the week before Christmas. Tell me that in mid-January when all those seasonal hires are back on the street. As for...
- Now Warning From The Left:the Latest Jobs Numbers And The Very Real Chance Of Another Great Depression
TNR:Disaster Not AvertedThe latest jobs numbers and the very real chance of another Great Depression.Dean BakerJune 6, 2011 | 12:00 amWhen the financial system was on the edge of melting down back in the fall of 2008, there was much talk in the punditocracy...
- For Discussion: Deficit Reduction
HERE in the Washington Post you can read the highlights of the deficit-reduction proposals. The include the following:-Overhaul individual income taxes and corporate taxes. For individuals and families, eliminate a host of popular tax credits and deductions,...
- The Sins Of The Government Fathers Should Be Visited Upon The Sons, Even Unto The Fifth Generation
or something like that. . . Newsmax: Obama: U.S. Must Spend Itself Out of Recession Tuesday, December 8, 2009 10:51 AM WASHINGTON – President Barack Obama outlined major new government stimulus and jobs proposals on Tuesday, saying the nation must...