Your Going To Create Jobs - How?

Excerpts from Bloomberg:

Democrats Welcome Obama Focus on Jobs After Setbacks

Jan. 28 (Bloomberg) -- Democrats said President Barack Obama’s emphasis on jobs, middle-class struggles and bloated government spending in his State of the Union speech would help settle anxiety after recent setbacks for the party.
“What I heard him say is we don’t want people running to the hills,” Representative Gerald Connolly, a Virginia Democrat, said in an interview after Obama’s speech last night. “He did a good job reminding the American public of why they voted for him in 2008.”
Democrats are seeking to regroup after focusing most of last year on a sweeping health-care overhaul that was sidelined after Republican Scott Brown’s victory for the U.S. Senate seat held by the late Edward Kennedy of Massachusetts.
Republicans, emboldened by Brown’s Jan. 19 upset and victories in the New Jersey and Virginia gubernatorial races in November, have criticized Obama and his fellow Democrats for what they say is big-government spending and a failure to create jobs for middle-class Americans.
Virginia Governor Bob McDonnell, in the Republican response to Obama’s address, said “massive” federal spending to stimulate the economy last year didn’t hold down unemployment.
House Republican Leader John Boehner of Ohio said Americans “were looking to President Obama to change course” in his speech and “they got more of the same job-killing policies instead.”

“What government should not do is pile on more taxation, regulation, and litigation that kill jobs and hurt the middle class,” McDonnell said in his speech at the Virginia House of Delegates in Richmond.

“In the past year, over 3 million Americans have lost their jobs, yet the Democratic Congress continues deficit spending, adding to the bureaucracy and increasing the national debt on our children and grandchildren,” McDonnell, 55, said.


The true depth of our economic predicament can be portrayed by this fine chart courtesy of the "Daily Reckoning".

Unemployment has not been so bad in living memory.
While Mr. Obama is a fine orator, his policies to date have been underwhelming.  
The bailouts have not created jobs, only rewarded the villians.

The problem as we see it, is the socialist tax and spend thinking that seem prevalent both in Democrats and Republicans.
Small business is the backbone of the economic system and increasing taxes and labor regulations will lead to further employment declines.
The massive deficits have not been addresses except with lip service.  An enormous cut to federal and state spending is the painful long term solution that is required before employment growth can return in a sustainable manner.
If the deficits are not tackled very soon, a sovereign debt downgrade is in our future.



  1. Hi,

    I just wanted to let you know how much I appreciate your blog, and your insights. It has become one of my regular reads. Thanks for your posts, they have been very helpful.

  2. PW, what are the consequences for the Eurozone and the United States if Greece were to default on its sovereign debt?

  3. Thank you for your kind words Anonymous at 5:15am.
    As to the question by Anonymous at 10:00am I will post a reply that addresses some of these issues shortly.


Post a Comment