Thursday, July 8, 2010

Obamanomic Uncertaintly Killing Jobs

Liberals are pointing at Republicans and screaming that they are stopping Obama’s economic recovery.  

This after they used the press as a giant bullhorn to continually badmouth the Bush economy until it finally did start sinking.  They don’t understand that unemployment benefits are not an economic stimulus...  but anyway, it’s a bog of economic ignorance and class warfare rhetoric too muddled to even try and sort out.

Here’s a Question for Sensible Americans...
If you don’t know what regulations will befall you in the near future, and your future earnings are in doubt, and you suspect taxes and fees will be raised, how will you react?   Will you blow your money, or will you stash it away?  

Simple decision, isn’t it?.  Well, businesses have reached the same conclusion:
The Bureau of Economic Analysis reports that U.S. corporations are sitting on $1.6 trillion in cash reserves, a record amount, because they are reluctant to expand in the uncertain policy environment.
It’s the Economic Uncertainty, Stupid!
Thomas Cooley tells us what’s wrong with job growth:  Economic Uncertainty.

He starts with the specter of ballooning debt at the state and municipal levels.  We know it’s there, we just don’t know how big it is yet, but we know it’s big.  Add to that...
There is also a lot of uncertainty about the extent of underfunded pension liabilities and the impact they will have because they do not typically show up on budgets.

Given the rhetoric and previous policy initiatives of the Obama administration, it is virtually certain that corporations and wealthy individuals are going to face higher taxes, but in what form?
Even the liberal NY Times gets it, although they stand the uncertainty argument on its head.  They perversely argue that now is the time to set up a program to funnel more money to states while passing cap and trade that will increase the cost of energy.  Get the pain over with so businesses can calculate the costs and press on with hiring and expansion plans.  At least they're half right...

Becoming Europe Won’t Help, Either
Even the liberal intelligentsia realize becoming Europe will only make things worse, reports Lloyd Grove at the Daily Beast:
He said jobs were going to be his No. 1 priority—there’s a huge disconnect between Washington and what’s going on out in the country,”

“The president’s economic team kept talking about a ‘cyclical’ problem. Larry Summers said jobs were a lagging economic indicator. All these things are simply wrong. The president put all his trust in the wrong economic team—an economic team that didn’t understand what was happening.”
That quote is not from a vengeful Rush Limbaugh, but from Obama supporter Ariana Huffington.  It’s the economy, stupid, and businesses, not government, fuel expansion by hiring people.  Even liberals are waking up to that fact.


Ray said...

Good post and photoshop as well!

"This after they used the press as a giant bullhorn to continually badmouth the Bush economy until it finally did start sinking."

Damn straight SF...

That's what started this whole meltdown and they wanted it, so now they got it and don't know WTF to do, except pass out 'free money'. This fiasco should keep dems from being president for about 20 years if we make it to 2012.

Leticia said...

Unfortunately, my family is going to feel the pinch. My hours at my part-time job were just cut! This is going to be a hardship, most definitely. Groceries, gas, taxes are all going to keep skyrocketing while working Americans, are losing their jobs or hours like myself.

I honestly don't see a solution in the future and whatever comes out of Obama's mouth is just a load of bologna.

Something needs to be done.

Lisa said...

Thanks to the backing of George Soros Mr Puppet Master.
This is the biggest disgrace to this nation and we have a billionare orchestrating it.
But let's put a target on the backs of business owners and American citiznes aka Gov Brewer and ignore who the real criminals are.

Most Rev. Gregori said...

As long as everyone continues to play a "let's wait and see game", then all I can say is that as the country slips down the crapper, then the last one left, don't forget to turn out the lights.

Trestin said...

If I owned a small business I would not hire anyone. Who knows what kind of new tax or regulations they will attempt before November.

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