New unemployment numbers out today show the economy is still shedding jobs…another 85k lost in December. Every month another story comes out that shocks, surprises, and stuns “experts” who keep predicting job gains are right around the corner.
Source: http://news.yahoo.com/s/ap/20100108/ap_on_bi_go_ec_fi/us_economy
What I find interesting is that the AP news writer totally missed the point of her own story. She writes:
“The economy is in a rough situation,” Labor Secretary Hilda Solis acknowledged in an interview with The Associated Press. She said she thinks companies are reluctant to ramp up hiring because they’re waiting to see what new stimulative steps the government might take to provide relief.”
And in a later paragraph:
“But the economy will need to grow faster than that to bring down the unemployment rate. And economists worry that much of the recovery stems from temporary factors, such as government stimulus efforts and businesses rebuilding inventories.”
The ridiculous Labor Secretary – a true believer – thinks businesses are anxiously awaiting for Lord Obama to send them money from the sky before they will hire new workers. She truly believes the private sector is waiting around for Team Obama’s stimulus money to magically appear in their bank account before they take any action to restore the health of their businesses…or in her cryptic words, “provide relief”…what the heck does that even mean?? Team Obama is high on rhetoric and low on substance; every one of them, across-the-board.
The economists (unnamed, of course…fancy friends of the mystical unicorn perhaps?) know that the temporary effects of the stimulus program are only “temporary.” Whatever results are being generated by the stimulus program are NOT WORKING. Taking money from one sector of the economy and moving it to another is not stimulative. Borrowing to pay for this folly is not stimulative. Paying interest on trillions of dollars is not stimulative.
Worse yet, another story documents how billions of dollars are being tagged to zip codes that don’t even exist.
Source: http://www.wnd.com/index.php?fa=PAGE.view&pageId=121142
In an excerpt for that article:
“An additional $375 million in grants, loans and government contracts was credited with job creation and sent to zip codes that don’t exist, according to Kansas Watchdog. The site also reports the funds created more than 400 jobs at a cost of about $800,000 each.”
The stimulus money created jobs at $800k each…not a very good return on investment. That totals (800,000 x 400 = 320,000,000) 320 Million dollars spent for 400 jobs. That money could have provided 4,000 jobs at $80k per year.
Another example: http://blogs.investors.com/capitalhill/index.php/home/35-politics/1136-obamas-green-jobs-program-135294-per-job
What is my point? GOVERNMENT WASTE.
These jokers can’t run ANYTHING. Cash for Clunkers, stimulus, bailouts, TARP…all huge wastes of money. But…we all know Team Obama will do such a GREAT job with health care. (Wink, wink) What could go wrong? They were “just practicing” with the first couple of Trillion dollars. Now they are stretched out and warmed up and ready to spend the next 13 or 14 Trillion. Seriously…what could go wrong?
Here is an interesting video that you should watch.
PS – These are actual economists from the CATO Institute (not magical unicorn people).
http://www.youtube.com/watch?v=2mKE16Exh9k&feature=player_embedded
