President Obama's Speech on the Economy: More of the Same!

Commentary

Over the past few minutes, I have been listening to President Obama's speech on clean energy and the economy. It is very disappointing to hear the president talk about improving the economy, when it is obvious he and his advisers have no clue about Adam Smith economics, that it is the market that produces, not government. The government has never, and can not now, and never will create employment, except in government civil service. And that creates work, but not work that produces a product or a service that can put others back to work. It only adds to the cost of government that has to be supported by taxpayers.

His administration has caused most of the current economic disasters, and he has the gall to continue to blame Bush. Now he wants to use some of the tarp balance to finance lending for small business. This is going back on the promise to send unspent money back to the treasury. And if past monies spent by the government that has been sent to control financial institutions, auto manufacturing, and other special interests tell us something, do we have any assurance that further spending will help? The one bright spot was the intent to eliminate capital gains for small business for a certain period of time.

At first, I was willing to give the new administration a chance to make good on its promises. But having seen what the Democratic Cabal in controlling both houses of congress, and having a president that will rubber stamp their spending programs, I know now that we are in deep doo doo.

We are now assured we will have higher taxes, higher utility bills, gasoline increasing in price, food prices rising and some becoming scarce, with high unemployment remaining accompanied by inflation. This cabal must be sent home next November if we have any chance to survive our progressive government. If November 2010 goes by and we do not correct the situation, it will take decades to recover, if ever.

Are the Democrats Total Idiots?

Commentary

When I check the news the first thing in the morning, I think I have awakened in the Twilight Zone. The administration has taken over banks, the insurance industry, the auto industry—even firing the former CEO of GM, and now attempting to force universal health insurance on us. They promise that we will not lose our present health insurance if we are satisfied with it, however they have made many promises they have broken. So, what assurance do we have they won’t break this promise also? We don’t!

Now as if the Democrat progressives have not already jumped the tracks of financial sanity, they have now increased the national minimum wage to $7.25 per hour which is higher than the minimum of 30 states. This will mean higher operating costs for thousands of small businesses who will now be forced to lay off younger inexperienced workers, many students working their way through college, and many from poor neighborhoods. In my 22 years working for a state Department of Labor, I’ve seen this very thing happen every time the minimum is raised.

It also frustrates the supply and demand for workers, and affects wages a part of the way up the lower range of other workers. As those below the present minimum, are raised, those already making the new minimum or more will also be raised.

The so-called stimulus moneys have primarily gone to states that voted for Obama. Occupations that favor unions, the radical environmental movements, and other Democratic and progressive projects have received the major portion of funds already spent. But, these are failing to decrease the unemployment rate and of stopping the continual laying off.

If this trend of spending by clueless Democrats continues, I predict the unemployment rate will be around 11 to 13% by the first of the year 2010. This will be political fuel for Republicans in the off year election next year.