More Bad Economic News


Today the numbers came out about the economic landscape and job growth, and while the Obama administration and the media were looking for pristine valleys and lush forests, instead they got desert sands and scorched earth. It’s becoming increasingly clear that this president not only lacks economic vision and a true sense of what it takes to create sustainable private sector jobs, I’m beginning to doubt whether or not he cares if the private sector recovers and grows. It’s bizarre because the Democrats are trying to carpet bomb the private sector with this financial reform bill, and yet they try to talk up their support for the private sector. Finally, the markets are starting to weed out the contradictory bull-you know the rest.

Now’s not the time to play politics with people’s money. That goes for Wall Street and Main Street. Furthermore, whether they like it or not Democrats are going to have to come to terms with the fact that Wall Street and Main Street are connected at the hip, because the “folks” invest, and without Wall Street, a thriving one I might add, those investments will go down the toilet, along with everything else, including our economy.

Barack Obama is in over his head, and I believe no matter what happens in the midterm, the economy won’t bounce back until and or unless Barack Obama is defeated in 2012. What we have as president is a man who cannot grasp the fundamentals of economics. Economics 101: You don’t create an atmosphere of panic and anxiety within the markets. You don’t call for the heads of executives, shake down corporations, call for a moratorium on oil drilling, raise taxes, increase spending, and create more entitlement programs when the economy is down on bended knee.

We need to cut taxes across the board, and that means deep cuts for the top earners, and we need to eliminate tax cuts for people who don’t work. There should be no reason why a man who doesn’t work, receives a tax cut yet a man who makes over 350,000 dollars a year gets slapped with a tax hike. The idea of economic growth is to encourage people with money to spend that money on products, which in turn compels businesses to hire people, because they have to make those products that the “evil” rich want to buy. If someone wants to buy a new ship, hell let em buy it because that means more jobs for people who need them.

And you know, it’s so easy to understand: Wealth+Consumption=Manufacturing, Retail=Wages earned, and jobs added, which equals economic growth. Yet our president refuses to put two and two together. In his mind 2+2=1.

I’m not making light of the bad economic forecast because I feel for those looking for jobs. I was out of work for a year and then god blessed me with a job and I’m grateful. But unless we put private sector friendly capitalists in Washington, we’re not getting out of this whirlwind with our economic power intact. China just surpassed the United States as the #1 manufacturing power in the world, and this White House was more tight lipped than a virgin in Utah. Instead they’re trying to appease China and carry on about their currency. To heck with their currency manipulation, let’s focus on creating and maintaining jobs here first, then after we’ve regained our economic credibility we can put China on trial for their wrongdoing. But until then, until we cut this debt down, until we reform entitlements, until we stop trying to crucify anyone in this country that makes an honest buck, or works on Wall Street, we’re going to suffer. Our elected officials have this twisted notion that if they bash and break Wall Street the economy will flourish beyond our wildest imagination.

They’re wrong, because the economy as a whole is like our bodies. We don’t cut our arm off if it’s broken. We go to the doctor, they fix it, and we let it heal properly. Each sector of this economy feeds off another. If Wall Street is squeezed or shaken down out of pure politics and antipathy toward capitalism, then Main Street will suffer. If the banks are taxed to death, the construction sector will die because no bank will be able or willing to loan a construction company the funds to buy lumber and other tools needed to build homes and commercial properties. If the real estate market fails again, the retail sector will die, because people won’t have a reason to die furniture, home supplies, and other essentials. If they implement a sin tax then the food industry suffers because people could no longer afford to buy food, moreover, food that is normally cheaper to buy will increase in price, which in turn hurts lower income families.

Finally, energy taxes. Cap and trade will hurt the energy sector and that will eventually hit families on low income payment plans. Their energy bills will increase, which will cancel that low income payment plan out because the payments will increase each month. This isn’t progress, it’s barbaric. You cannot blanket a free people in widespread economic misery and claim its the best thing for them. At the G-20 Summit president Obama was the only world leader calling for more spending. He was ignored and shot down, and rightfully so. He also claimed that America’s economic power is unsustainable and will not last. That just shows you how much confidence our own president has in the country and the people who elected him.


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