Tag Archives: Employment

News

Obama’s deficit for the last two months exceeds Bush’s entire 2006 deficit

1 Comment

Story from Gateway Pundit. (H/T ECM)

Excerpt:

The Obama Administration is already $292 billion in the red this year.
This is more than the national deficit for the entire year of 2006 ($248 billion).
Not good.

President George W. Bush never did this.

Obama tripled the national deficit his first year in office and he’s off to a record-setting start in fiscal year 2010.

During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop. In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth.

Please read my previous post that features two Harvard economics explaining why massive government spending drives unemployment up. You can’t fix an economy with spending. You fix it with tax cuts, especially for businesses who hire people. For example, we could cut the employer portion of payroll taxes completely. (That idea is from a different Harvard economist)

There are people I know who voted for Obama because McCain and Palin would spend more. I asked them to look at voting records and ratings from groups advocating fiscal conservatism, like Citizens Against Government Waste, the American Conservative Union, and the Club For Growth. But they kept talking about Sarah Palin’s wardrobe, because that’s all they saw on MSNBC.

News

Business leaders blame Obama for high unemployment rate

Leave a comment

Story from Reuters about a recent jobs summit. (H/T American Spectator via ECM)

Excerpt:

At a recent symposium, Intel boss Paul Otellini, a contributor to both parties, expressed concern about the “amount of variability in the system” created by the state of policy flux in healthcare, energy and tax policy. “It is very difficult to make a hiring decision,” he said. General Electric chief executive Jeffery Immelt, a strong supporter of Obama’s cap-and-trade proposal, added he would just like to “know what the rules are.”

All in all, a disturbing replay of the 1930s when FDR’s big changes left business reeling with uncertainty and confusion. The “devil you don’t know” and all that.

Small business is certainly with Big Business on this, particularly regarding the mercurial nature of healthcare reform. The substance of ObamaCare continues to morph daily — from the state of the public option to employer mandates to financing expanded coverage – as Senate leader Harry Reid scrounges for votes. On energy, the president will make big promises at Copenhagen even though cap-and-trade looks stillborn in the Senate.

As for financial reform, Senate banking committee chair Chris Dodd has proposed sweeping changes, while the Tim Geithner-Barney Frank version in the House seems beamed in from a universe where the credit crisis never happened. Compromise could prove elusive. Even Obama’s tax reform panel has delayed releasing its findings.

The thing you have to understand about business is that finding and hiring an employee is an expensive process. If this employee has to be laid off later because of government increasing tax rates or regulations, then that layoff poisons the atmosphere in the entire company. If you want businesses to feel comfortable about hiring, you need to convince them that you aren’t going to raise their taxes or expenses, unionize their work force, fine them for hurting the environment, or pass laws that encourage their employees to sue them for being offended, etc.

Legislative initiatives like card-check, health care mandates, cap-and-trade, ENDA, increased government spending, tariffs, “pay equity” laws, restrictions on executive salaries, capital gains tax hikes, etc., make businesses very risk-averse about hiring decisions. If Obama wants to attack businesses, these businesses may just leave the USA and set up shop elsewhere. But more likely they will just stay here and avoid hiring any new employees until the 2012 election.

Commentary

Should government spend so much money to push people into higher education?

Leave a comment

Both fiscal conservatives and social conservatives agree: government spending on higher education should be cut.

Fiscal conservatives oppose government spending on higher education

Consider this podcast from the libertarian Cato Institute.

Here is the MP3 file. (7 minutes)

It’s an interview with Dr. Neal MCluskey.

Topics:

  • does higher education necessarily deliver skills that employers want?
  • do most degrees really benefit employers?
  • should government subsidize higher education?

About the guest:

Neal McCluskey is the associate director of Cato’s Center for Educational Freedom. Prior to arriving at Cato, McCluskey served in the U.S. Army, taught high school English, and was a freelance reporter covering municipal government and education in suburban New Jersey. More recently, he was a policy analyst at the Center for Education Reform. McCluskey is the author of the book Feds in the Classroom: How Big Government Corrupts, Cripples, and Compromises American Education, and his writings have appeared in such publications as the Wall Street Journal, Baltimore Sun, and Forbes. In addition to his written work, McCluskey has appeared on C-SPAN, CNN, the Fox News Channel, and numerous radio programs. McCluskey holds a master’s degree in political science from Rutgers University.

I think people should face the costs of the university education themselves. Then they would choose areas where they could make enough money to live and pay back their loans.

Social conservatives oppose government spending on higher education

My wonderful friend Andrew sent me this notice about an upcoming Family Research Council lecture.

Allan Carlson to Speak on Student Loans at Family Research Council

World Congress of Families founder and International Secretary Allan C. Carlson will deliver a Witherspoon Lecture at the Family Research Council on December 4 at 11:00 am, on “The Crushing Burden of Student Loans on Family Formation For Generation X.”

Studies have shown that significant numbers of graduates who are burdened with college loans are less likely to marry and have children – with negative consequences for society. Thus, there is a need to re-think the entire program.

[…]Allan Carlson has a Ph.D. in Modern European History. He is the author of many books, including “Conjugal America: On the Public Purposes of Marriage” and “The Natural Family: A Manifesto,” with Paul Mero. Click here to order his books.

Click here to download the flier.

Isn’t it amazing that fiscal conservatives agree with social conservatives? Actually, they should agree on many more things, in my opinion. It’s a bad idea for government to redistribute taxpayer money to schools, because the teacher unions just turn around and use it to influence politics, which cannot be good for giving children a quality education. Teacher unions are bad for fiscal and social conservatives – we really need to unite and make sure that they are de-funded, and de-fanged.

A funny story about libertarians

And I have to tell you a funny story. One of the quirky things about me that everyone knows is that I am able to get into the most deep and controversial conversations within a few seconds of meeting someone. For example, in the time it takes to get a blood test, I was talking to the nurse about lethal injections, capital punishment and different goals of the criminal justice system. Well, I managed to beat my score on Monday.

I was passing by a security guard to show him my badge and I noticed a book on his desk. As soon as he turned his back I leaned over the desk and read the back cover. It was a book by Lew Rockwell. So I asked him about it, and then we started talking about how libertarians ought to support social conservatism in order to keep government from having to deal with the fallout from broken homes and crime. I was just about to start talking about John Lott’s study on the link between abortion and increased crime, but there was a line-up by then, so I moved along.

So that’s what my life is like – the joy of a comprehensive Christian worldview means that you are never at a loss for something interesting to talk about. And there is a lot of reading people – knowing who you can talk to and when you’ve gone too far. Practice, practice, practice.