Tag Archives: Unemployment

How can we smarten up young people who voted for Obama?

I was browsing on Captain Capitalism’s web site and I found this article where he denounces the idiocy of today’s youth, who have destroyed their own future by voting in droves for Barack Obama.

Here’s an excerpt from the article: (H/T Small Dead Animals)

Young (latin for – idiots who are too young to know what they’re talking about and should not be able to vote until they’re 35) Americans voted in droves for Barack Obama. Why they did this can be summarized why they voted for Stevie or whoever it was that won the latest round of American Idol. It was a popularity contest. Nobody bothered to look at his projected spending. Nobody bothered to see whether there was enough money to pay for his promises. Nobody held him up to any kind of standard or rigor that should have been applied to the president of the United States. And the reason why is that’s “lame man. Why do you have to kill our good time? Why do you have to be such a downer, man? Who cares about economics and finance and the budget. Can’t you just be for hope and change? Besides he’s cool. Did you see his pecks? Geez, you’re such a nerd!”

How are we going to fix these pampered ignoramuses?

Well, for one thing, we can start by pulling them out of public schools run by the secular-left teacher’s unions, and shove them into homeschooling or private schools. But failing that, you can show them an article like this one, from the New York Post, which talks about what “greedy corporations” and “the rich” do when you start to confiscate their profits more and more. They stop producing and/or leave.

Excerpt: (H/T The Cato Institute)

Politicians like to talk about incentives — for businesses to relocate, for example, or to get folks to buy local. After reviewing the new budget, I have identified the most compelling incentive of all: a major tax break immediately available to all New Yorkers. To be eligible, you need do only one thing: move out of New York state. Last week I spent 90 minutes doing a couple of simple things — registering to vote, changing my driver’s license, filling out a domicile certificate and signing a homestead certificate — in Florida. Combined with spending 184 days a year outside New York, these simple procedures will save me over $5 million in New York taxes annually.

…This problem didn’t begin with the current recession. New York faced a $6 billion shortfall before the economic downturn. However, in the face of economic turmoil, Gov. Paterson, Assembly Speaker Sheldon Silver and Senate Majority Leader Malcolm Smith looked to the unions and special interests, who answered with one voice: raise taxes. That was irresponsible — and may just prove to be counterproductive, since the top 1 percent of earners account for about 50 percent of state revenue and are the ones who can and will leave.

It’s called Going Galt.

Obama’s car regulations will kill more Americans than the Iraq war

The Heritage Foundation reports on Obama’s proposed regulations on fuel economy.

Time for practice. Time to pile into the…Toyota Prius? Maybe the Yaris. Or surely the Smart Car will do. Those are three of eleven cars that meet President Obama’s new emissions standards that include “nothing larger than a midsize sedan, even when you include hybrids.”

Eleven choices of vehicle? The soccer moms will not be liking that.

But it gets worse. It’s going to cost another 50,000 jobs added on to Obama’s massive count.

Keith Henessey writes: (H/T Competitive Enterprise Institute)

NHTSA estimated that a similar option would cost almost 50,000 U.S. auto manufacturing jobs over five years.

See Table VII-1 on page 586 of the NHTSA analysis.  NHTSA estimated that the TC=TB option, which I’m using as a proxy for the Obama plan, would result in the following job losses among U.S. auto workers:

MY 2011

MY 2012

MY 2013

MY 2014

MY 2015

8,232

24,610

30,545

36,106

48,847

Compared to the Bush draft final rule, this is 37,000 more jobs lost.

Since I know this table is inflammatory, I will anticipate some of the responses:

  • This is an estimate for the job loss from the TC=TB option analyzed by NHTSA in 2007.  This is the closest proxy for the Obama rule, and I’m convinced it’s a good proxy until someone demonstrates otherwise.  But technically, it’s not a job loss estimate for the Obama proposal.
  • This estimate was done in a different economic environment (late 2008), and before the U.S. government owned 1.5 major U.S. auto manufacturers.  My guess, however, is that these changed conditions should push the estimated job loss up from the above estimate, rather than down.
  • There’s a false precision in the above table.  It’s just what NHTSA’s model spits out.  …I don’t put any weight on the precise annual estimates.

And it gets even worse than that.

Steve Milloy writes about the really bad problem on Green Hell blog: (H/T Gateway Pundit)

The Obama administration’s proposed mileage standards that will be announced today may kill more Americans at a faster rate than the Iraq War — his signature issue in the 2008 presidential campaign.

Obama’s standards will require automakers to meet a 35 miles-per-gallon standard by 2016 — four years earlier than the same standard imposed by the Energy Security and Independence Act of 2007.

As discussed in my new book Green Hell, the only way for carmakers to meet these standard is to make smaller, lighter and deadlier cars.

The National Academy of Sciences has linked mileage standards with about 2,000 deaths per year. The National Highway Traffic Safety Administration estimates that every 100-pound reduction in the weight of small cars increases annual traffic fatalities by as much as 715.

In contrast in the more than six years since the Iraq war began, there have been 4,296 deaths among American military personnel.

The Iraq war cost 550 billion and 4300 lives. And for this we got more liberty and security. Obama is spending trillions and trillions of dollars, and he wants to kill 2,000 Americans per year? I am not even talking about his subsidies to kill more unborn babies at home and abroad. This is on top of that!

Are Obama’s policies weakening America’s security, liberty and prosperity?

In this American Spectator piece entitled “Obama the Destroyer“, Quin Hillyer recounts the many deeds that Obama performed in order to weaken America.

Hilyer writes:

If somebody were deliberately trying to undermine the very fabric of these United States, he would first vow not just to change its policies but to completely “change America,” and then would do just about everything Barack Obama already has begun to do as president.

He then lists some of the specific areas that Obama has weakened:

  • contract law (which is part of the foundation of capitalism and free enterprise)
  • strict interpretation of the Constitution
  • counter-terrorism (released interrogation techniques)
  • responsible spending and size of government
  • energy production
  • missile defense
  • military preparedness and research
  • border security
  • transparency and free/open debate on legislation
  • freedom of choice in health care
  • the integrity of the voting/census system
  • diplomacy and foreign policy

I could name at least a half-dozen more areas not on that list, such as the Western Experience’s post about Obama’s decision to weaken our nuclear capabilities. In fact, Jason has a whole article on the Obama’s naive, weak foreign policy.

But foreign policy is one thing, what about the cost of the trillions in spending? Writing in the Weekly Standard, Irwin M. Stelzer explains that there are only two ways out of the massive deficits that Obama has run up: Higher taxes, which destroys economic growth and ships jobs overseas, and hyperinflation, which impoverishes the poorest among us by making them pay more for everything.

He lists all the mistakes that the ACORN lawyer has made, and concludes:

We are also certain to see the portion of our pay that we actually get to take home decline significantly. The debt that Obama is running up will have to be repaid. Already, there are grumblings in the market about the future of the dollar, with the Chinese not the only one of our creditors worrying that we will inflate our way out of our obligations. Run the presses, make dollars cheaper, and use the debased currency to repay debts.

…But inflation is not the only possibility. Instead, politicians, remembering the fate of Jimmy Carter when he allowed inflation to climb towards 20 percent, will try to restore fiscal sanity by raising taxes. Harvard economist Martin Feldstein, who supported the president’s stimulus package, puts the needed tax increase at $1.1 trillion over the next decade; the International Monetary Fund puts the figure at $1.9 trillion, a sum the magnitude of which is better understood when written as $1,900,000,000,000.

And don’t forget the looming problem of entitlements. You remember. Social Security and Medicare? Costs ballooning out of control? Matthew Continetti writes about it in the Weekly Standard:

The trustees conclude that a combination of lavish benefits, an aging population, and a moribund economy has brought the United States’s social insurance system close to bankruptcy. Medicare is already running a deficit, and the trustees say that it will be totally out of money by 2017. Social Security will be in the red as soon as 2016. That’s a problem not only for Social Security. It’s a problem for the federal budget.

…Meanwhile, bizarrely and perversely, Obama and the Democrats on Capitol Hill say that the only way to fix America’s spending problem–we are not making this up–is to spend more money. More on energy. Health care. Education. The three pillars of the president’s “new foundation.” Don’t worry about the cost, Obama says. The rich guy at the other table will pick up the bill.

What sort of person would spend trillions of dollars in a recession with a looming entitlement crisis? Oh, I know. An unqualified spendthrift who can’t even keep his own financial house in order.

Gateway Pundit reminds us that the Democrats understand that their cap and trade bill with hurt the poorest people the most. And they don’t care! Most of them are probably like Al Gore, who owns assets that will benefit from the unnecessary government regulations.

Gateway Pundit writes at the American Issues Project:

The potential cost of the democrat’s cap and trade policy is enormous. It will likely cost $700 to $1,400 dollars per family per year. The Department of Energy estimated that a similar bill, S. 2191, the Warner-Lieberman cap-and-trade proposal, will increase the cost of coal for power generation by between 161 percent and 413 percent. Human Events reported that the DOE estimated GDP losses (see chart) over the 21-year period they forecast, at between $444 billion and $1.308 trillion. There are estimates that the bill could increase unemployment by 2.7 percent or about 4 million jobs.

White House Budget Director Peter Orszag was on “This Week” with George Stephanopoulos in March. During his interview Orszag admitted that Obama’s proposed cap and trade energy legislation will increase energy costs for everyone. The Heritage Foundation reported that cumulative GDP losses for 2010 to 2029 approach $7 trillion. Single-year losses exceed $600 billion in 2029, more than $5,000 per household. Job losses are expected to exceed 800,000 in some years, and exceed at least 500,000 from 2015 through 2026. In Missouri and the Midwest where energy is “cheap” the democrat’s legislation would cause electricity rates to double. Even the far left Huffington Post admits that the approach taken by the Waxman-Markey bill does not alleviate the problem whereby household consumers will pay higher energy costs.

The article continues here.

Remember when Obama said this in 2008?

“Under my plan of a cap and trade system electricity rates would necessarily skyrocket. Businesses would have to retrofit their operations. That will cost money. They will pass that cost onto consumers.”

What? You voted for Obama and the MSM didn’t tell you that he said that? I’m shocked.