Jobs Jobs Jobs Jobs Jobs Jobs

Stories and reports continue to break about the stimulus bill that was rushed through congress earlier this year and the fact that it has not succeeded in creating more jobs for Americans.

Still, there doesn't appear to be any leadership or a unified voice raising the tenor of outrage about this massive failure by the Democratic leaders in Congress and the Administration.  The more people scratch the surface of the stimulus reports, the more they discover a government boondoggle - with non-existent congressional districts, counting jobs that were created without stimulus funding, double-counting of jobs, and unclear entities that have been credited with creating new jobs. 

All the while, unemployment has reached an unbelievable 10.2%

This upcoming election cycle is about jobs and the economy - plain and simple. Every poll since September 2008 has shown that the number one concern of voters is jobs and the economy. 

Voters are watching family members, neighbors and friends cope with layoffs, and many have lost their own jobs.  People are surviving on smaller paychecks.  Many Americans know someone who has lost their home to a foreclosure and ever increasing numbers believe the stimulus is having no effect on the economy.  There is a sweeping sentiment among voters that the government is getting too large and is not responsive to the people.

Without mincing words, the trillion dollar stimulus the Washington Democrats shoved down America's throat is a debacle and is the clearest example of how they are fundamentally failing the American people in regards to jobs and the economy. 

In fact, David Obey, Chairman of the Appropriations Committee and father of the stimulus bill, is now placing blame on the Administration for lack of oversight of his own bill. Even he is running scared from the mess that is the stimulus bill.

This can not be emphasized enough.

Health care reform is important and must debated and a government-run plan should be fought aggressively. However, it appears that while we focus on that, the opposition is getting a free pass on this.  In reality, the healthcare legislation is a distraction to what is most important - the Democratic leadership's big government approach to jobs and the economy has failed...and this is the strongest reason why a big government approach to healthcare is wrong.

Republicans need to begin calling for accountability on this failed stimulus bill that is wrought with inconsistencies and bad numbers...and drumbeat the looming question, "Where are the jobs?"

I point you to a piece by Mike Flynn, editor of BigGovernment.com. Mike wrote a post today, Obama Stimulus Numbers: The Return of Enron-Style Accounting, comparing the reporting of the stimulus bill to Enron's reporting of it's financial reports. He's starting to see where this is heading.

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 Funny how two parties can

 Funny how two parties can ruin a country. One for big government and the other for no government. And we sit in limbo. Oh well. 

Failing the economy

Without mincing words, the trillion dollar stimulus the Washington Democrats shoved down America's throat is a debacle and is the clearest example of how they are fundamentally failing the American people in regards to jobs and the economy. 

The cost of the stimulus bill, in terms of the increase in the deficit, according to the CBO, is $787 billion over ten years.

% change, quarter over quarter, in GDP, according to the BEA:

  • q1 08 = -0.7
  • q2 08 = 1.5
  • q3 08 = -2.7
  • q4 08 = -5.4
  • q1 09 = -6.4
  • q2 09 = -0.7
  • q3 09 = 3.5

Please explain to me how letting GDP shrinkage (otherwise known as economic destruction) would have the good thing to do for the economy.

You want economic debacle? Then you should be looking at 2008.

 

Jobs?

Now that GDP is on the rise, the Right knows that jobs lag behind growth by 12-18 months, and so they are beginning to put their chips on "no jobs" and let the wheel spin.

It's a huge gamble:  Under Obama, job loss has steadily slowed for the last six months.  What happens to the Right's gamble if we reach 0 job loss inQ2 2010, and (God forbid) the jobs reports in September and October 2010 go big Obama's way right before the Election??

Man, it must suck to have to root for unemployment.

 

Don't start counting chickens just yet...

When the DOW was languishing below 8000, Republicans took to calling it the "Obama Stock Market"

When the DOW rebounded, the GOP switched to the GDP and started talking about the "Obama recession"

Now that GDP is growing, it's all about the unemployment rate and "jobs jobs jobs"

You know, it's always possible that the unemployment rate could start dropping. If the economy starts adding jobs, then what will be the next official precursor of doom?

Good question, well put!

Given that an essential component seems to be that thing Obama is being blamed for is a situation that the Republicans created, I would guess that it will be

  • bank failures;
  • mortgage defaults;
  • levels of credit card indebtedness; or
  • the number of persons without access to healthcare

 

Reality-based community flees to Mars

No other way this could be the stock Lefty talking point. They bitched in the last 8 years even if the Dow was hitting 14,000 points, hundreds of thousands of jobs were being added, and still writing Affluenza-like tracts on how this is all really a mirage.  Newsflash, GDP includes government spending, it was quiet clear that that measure was driven almost solely by government spending.  That's how the Soviet economy 'grew'.  The official rate of 10.2% doesn't include the millions who have already given up work as measured in the U-6 rate of 17.5%.  We spent $trillion for Leftwing spending priorities to SPECIFICALLY ALLEVIATE UNEMPLOYMENT, that didn't happen and now 3 million more are unemployed.

This is the kind of crazy fuckery that the Democrats are going to run under in the next year:

 

 

Yes, lets go back to 2008

When GDP and the leading economic indicators were all going down, not up. Those were the good times.

What a tool - even the WSJ has been forced to begrudgingly acknowledge that the stimulus has had observable, positive effects.

Revise that 3rd QTR 2009 GDP Figure

3rd QTR 2009 GDP was revised to 2.8%......a 20 % error.

And without Cash for Clunkers, I don't think the 2.8% would survive.

Funny how "JOBS" wasn't a Priority ALL YEAR LONG.....unless you think the "Stimulus" was Real, and it was NOT Real, unless you count it as a REAL FAILURE.  

Why so long to suddenly push JOBS to the forefront of WH Policy ?   The President isn't smarter than a Fourth Grader.

 

Unemployment rises in

Unemployment rises in different corner of the world. The number of unemployed has swelled to almost 16 million.  In the past, recessions have resulted primarily in blue-collar and low-level retail job losses, with white-collar layoffs accounting for only about 30 percent of total losses. By way of contrast, in the current downturn, nearly 50% of the vanished jobs have been managerial, professional, and skilled white-collar positions.  Barring the unforeseeable, like a whole new economy arising, we are likely to have an unprecedented recessionary shift to permanent job losses. 

12-10-09 Initial Jobless Claims Rise.

This is sad news for many people who are not doing well; we need to get off of failed job programs and work to tip the playing field in the US vs Global Economy or in reality make it more level. I know Liberals think this is code for destoring the middle class - that is a shame. We need to remove unproductive burdens placed on businesses so they can grow and hire people.

http://www.reuters.com/article/idUSTRE5B92J620091210?feedType=RSS&feedNa...

Initial claims for state unemployment insurance rose 17,000 to 474,000 last week, after five straight weeks of declines, the Labor Department said on Thursday.

 

The rise in claims was blamed on seasonal layoffs in industries such as construction and a rebound in applications that had been held back during the Thanksgiving holiday week.

 

Analysts, who had expected claims to climb but only to 460,000, said the gain did not alter the trend toward labor market stability. Instead, they focused on a 14th straight drop in a four-week average of claims, which hit the lowest since September last year.

 

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