Wednesday, August 31, 2011
Jobs? Obama? You're Kidding!
By Alan Caruba
America is dying a death by a thousand cuts in the form of hidden and explicit taxation, the insane generation of new regulations, and the resulting massive unemployment. Obama just selected a new economic advisor who is known to favor a value-added tax that would drive up the cost of everything you purchase.
It’s not like solutions to our economic disaster are not known. They are and the Obama administration will not implement them. They do know what they are doing and it is deliberate.
On September 7, in the guise of a jobs speech Obama will offer massive new spending programs. The money for them would have to be borrowed. The interest on that borrowing would sink the nation further into debt.
In the August 31 edition of The Wall Street Journal, an editorial revealed that, when Speaker John Boehner asked the White House to disclose any “major” federal rules in the works with estimated economic costs of $1 billion or more, he was informed that the Obama regulatory agenda for 2011 contains 219 proposed such new regulatory initiatives.
In 2010 the administration had 191 proposed regulatory initiatives in the works which combined with those proposed in 2011 add up to a total of 410. By contrast the first two years of the Bush administration rulemaking accounted for only 103 new, major regulations.
Of seven pending major rules estimated to cost more than $1 billion one includes the Environmental Protection Agency’s ozone regulations, estimated to cost $90 billion if Congress does not step in and put a stop to it. The EPA is trying to eliminate one tenth of all the utilities that provide the electricity the nation needs to function.
The Competitive Enterprise Institute’s experts on regulation have concluded that the present cost of federal regulation to businesses that must comply with them is $1.75 trillion annually.
If you visit USA Action News.com, you will find an issues section devoted to the Cloward-Piven strategy named after two socialist academics who spelled out just what it would take to economically destroy the nation. It is being implemented by the Obama administration.
Why would anyone at this point think that President Obama knows how to create jobs?
Isn’t this the first President in the nation’s history to be in office when its historic AAA credit rating was downgraded?
Isn’t this the President whose original “stimulus” plan is universally regarded as a costly failure?
Isn’t this the President who added more than $4 trillion to the national debt in just two and a half years?
At TheEconomicCollapseblog.com, you will find an article, “Wake Up America! 10 Very Obvious Reasons Why the Devastating U.S. Jobs Famine is Going to Suck the Hope Right Out of America.”
If you lack the time to delve into it, here are some of its highlights:
Citing a recent article in the Wall Street Journal, it turns out that there are more unemployed Americans than the combined populations of Wyoming, Vermont, North Dakota, Alaska, South Dakota, Delaware, Montana, Rhode Island, Hawaii, Maine, New Hampshire, Idaho, and the District of Columbia.
The number of unemployed Americans is larger than the entire population of Greece!
The number of Americans on food stamps has increased 74% since 2007.
Among the reasons cited or suggested by the article were that politicians in Washington, D.C. really don’t care that the nation is bleeding jobs and, to make matters worse, the Obama administration has instituted a “backdoor amnesty” that would make deporting illegal aliens that hold jobs virtually impossible.
As some U.S. States and local governments face the equivalent of bankruptcy, they are shedding jobs “at an unprecedented rate.” The Center on Budget and Policy Priorities estimates that more than half a million such jobs have been lost since 2008. It forecasts that nearly a half million more will be gone by the end of 2012.
U.S. corporations exist to generate profits and dividends for their investors. As such they must compete in a global marketplace where other nations like China pay pennies in salaries while they must undertake mandated costs over and above any salary they have to pay new U.S. employees. So jobs are exported. Unfair trade practices tip the scale of exports to nations like China that, in turn, do not import a comparable amount of U.S. goods.
As for taxes, businesses of all size in America are “being taxed into oblivion” with U.S. corporate taxes being the highest in the world. Between state and other taxes, Americans give up some 42% of their income before they can put their paycheck in the bank.
This is deliberate.
© Alan Caruba, 2011