Obama Administration Looks to Create More Jobs
The promised creation of 3.5 million jobs by the $787 billion stimulus was always going to kick into higher gear this summer, once the package's preparatory work was done. But now, with unemployment reaching 9.4 percent in May and Republicans upping their attacks on President Obama's fiscal policies, the White House wants to make sure that everyone notices those new jobs. And it's trying to generate them even faster.
The administration's "road map to recovery," announced last week with great fanfare, didn't launch any new programs. Instead, it's an effort to stimulate the stimulus. By accelerating the implementation of 10 major programs like funding 135,000 education jobs and renovating 107 national parks, the plan will create or save 600,000 jobs by summer's end, the president said. That's quadruple the 150,000 that the administration estimates were created in the stimulus law's first 100 days. "We're moving in the right direction," Obama said. But, he added, "we've got more work to do."
The White House says that this stepped-up pace was always planned. Most initial stimulus activity included establishing oversight, choosing projects, and getting contracts signed. Now, the heavy job-creation can begin. But the "road map" highlights the administration's fight to control the public narrative of the recovery act, which is likely to be the president's defining piece of economic legislation in his first year and key to Democratic success in the 2010 elections.
The GOP has fought the stimulus from the beginning. No House Republican voted for its passage. But now, spurred by growing job-loss numbers, they've ramped up their attacks. "This administration, in its effort to justify the rush for an $800 billion stimulus bill in January, has now begun to once again move the goal post," House Minority Whip Eric Cantor said this week. Republicans are also not shy about reminding the public of a report issued by two of Obama's chief economists in January that said that if the stimulus was enacted, unemployment would remain below 8 percent. One of the economists, Jared Bernstein, admitted this week that the prediction was "clearly too optimistic" because it did not take into account fourth-quarter figures, then unavailable, for gross domestic product.
Strategically, the GOP's attacks might make sense. According to Gallup, Obama enjoys a 67 percent approval rating. But while 55 percent are happy with his handling of the economy, 45 percent disapprove of his control over federal spending. "If you're a Republican, you don't have much else to hold on to," says Norm Ornstein, a congressional expert at the conservative American Enterprise Institute.
For its part, though, the administration has noted for several months that job creation would not be immediate, not least because the stimulus is designed over the long term to avoid a boom-and-bust scenario. "We're going to have to be patient and persistent about job creation," Obama said at a March town hall meeting. "I don't want people to think that in one or two months, suddenly we're going to see net job increases." The question, however, is how long that patience will last. And how much time, if any, the new road map to recovery will buy the White House.
Reader Comments
How To Create More Jobs America - Survey Results
My recent survey produced a variety of ideas, but most of them had these common elements: replace the Internal Revenue Code with a simpler model, encourage businesses to increase employment, and insist upon tort reform everywhere.
It also brought two disturbing realities into focus: We are painfully apathetic (less than 1% of the people I contacted took the time to respond) and, although we have great problem-solving ideas, few to none of our ideas are included in any of the reforms being considered by Congress.
For those who participated, thank you again. I hope that you will appreciate how I've synthesized your thoughts and suggestions into the commentary. I also hope that you will find the time to address some of these issues more aggressively with blogs, networks, and elected officials.
Major changes are being proposed in six inter-related areas. All the dots cannot be connected in one article. Government revenue is cut in this article and the next without a hint about a replacement plan. I'll get to that later, and painlessly for all of us.
So how do we create more jobs?
What Congress, a long line of Presidents, and much of the population have lost sight of is the fact that even the dirtier businesses are job providers. They must be pampered, not pummeled; supervised and reined in but not tethered and broken.
Business income taxes are 100% inflationary; costs associated with employees (yes, even the minimum wage, which some suggest is the cause of our illegal alien problems) result in fewer employees hired. Period. Capitalism is not broken--- its success formula has been compromised.
Repealing the corporate income tax, and prohibiting any and all levies, fees, charges, and taxes on any form of business could instantly produce millions of job openings, lower prices, and create new business opportunities throughout the economy.
Repealing business income taxes would instantly make export products more competitive in world markets, as businesses reduce prices while maintaining profit margins. Greater profits should translate into growth in economic activity.
Finally, the elimination of these taxes would make all businesses run more effectively because there would be no need to spend money (or create losing transactions) just to cut the tax bill.
For the rest of the article, just Google: "How To Create More Jobs America".
Steve Selengut
http://www.kiawahgolfinvestmentseminars.com
Author of: "The Brainwashing of the American Investor: The Book that Wall Street Does Not Want YOU to Read", and "A Millionaire's Secret Investment Strategy"
The Trillion-Dollar Bank Shakedown Continues:
Obama’s attack on our free market economy began long before the current crisis. The following legal documents, news articles, and videos show his part in causing this crisis over the past fifteen years. Now he uses it as an excuse to do even more damage. To him, our free enterprise system is a giant merciless beast that he and his allies have succeeded in wounding. In a free market, your choices as a consumer, select against society’s losers, which he represents. This is why the Obamabots, having won, are still seething with hatred for their opponents. Having wounded the beast they are now closing in for the kill. The recovery of our free market economy is not their objective. They would rather replace it with something else. So their policies are only making matters measurably worse. They want revenge for the unfairness they perceive in the free market.
These legal documents show Barack Obama suing Citibank under the Community Reinvestment Act (CRA) from 1994 to 1998, where he and other lawyers got $950,000 in legal fees without finding any evidence of wrongdoing:
http://clearinghouse.wustl.edu/chDocs/public/FH-IL-0011-9000.pdf
http://clearinghouse.wustl.edu/chDocs/public/FH-IL-0011-0007.pdf
This was part of a legalized protection racket perpetrated on our nations banks, and part of a widespread systematic shakedown, described in detail in this article published in the year 2000: "The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities":
http://www.city-journal.org/html/10_1_the_trillion_dollar.html
The New York Times reported on this in 2003, and explained what additional regulatory action the Bush administration tried to initiate to protect the banks, in "New Agency Proposed to Oversee Freddie Mac and Fannie Mae", only to be blocked by Democrats in congress:
http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html?sec=&spon=&pagewanted=1
Obama, ACORN, Bill Clinton, the Clinton Administration, and members of congress explain what happened here in their own words in these videos:
http://www.youtube.com/watch?v=ivmL-lXNy64&feature=channel_page
http://www.youtube.com/watch?v=8vJcVgJhNaU&NR=1
http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=related
This video connects the dots:
http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487
Thomas Sowell summarized it all in his column, "Do Facts Matter?":
http://article.nationalreview.com/?q=NGRjODM1MTJlOGZiZDk2ODI4NTUzMWMxYjgwMjliMGQ
The Washington Post provides additional detail: ("Where Was Sen. Dodd? Playing the Blame Game On Fannie and Freddie"):
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/11/AR2008091102841.html
The Wall Street Journal provides additional detail: ("Blame Fannie Mae and Congress For the Credit Mess "):
http://online.wsj.com/article/SB122212948811465427.html
This pattern of behavior must be stopped to protect the economic future of our country.
CEOS' / HEDGE FUNDERS
Theres alot of factors why the economy is in a free fall our main concern should be on our banks& finances corporations paying out billions to CEOS'& top executives while people lose jobs, houses, medicare whats next social security?
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