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Why would a nation pass law that imposes unprecedented federal penalties on the creation of jobs during a recession with high unemployment.....but Democrats did just that. new job that is created or saved will face stiff new federal penalties UNLESS it comes with a long term committment to provide a more costly federally controlled healthcare insurance tightly regulated by the Secretary of Health and Human Services Kathy Sebellius. Why?
The economy would have been booming right now if not for the foolish economic policies enacted by the president and democratic congress. The ORIGINAL TARP would have fixed the housing market, but it was going to take months to do the work, so the bureaucrats just flung the money at the banks instead of buying the troubled assets as originally planned. So the banks were supposed to use the money to cover their troubled assets over the course of these loans. Might have worked, except the administration started telling the banks that since we loaned you the money, we're going to tell you how to run your business (see compensation packages). The banks then paid back the money to avoid this, and now we're back to square one. The housing market is flat on it's back. This doesn't even account for the $20B that went to the car companies in a takeover that gave the unions the lion share of stock. It will take a few years, but GM will go belly up again because their business model won't work. The stimulus might have done some good, but was spent propping up failed policies. At some point (maybe 104 weeks?), unemployment insurance becomes welfare. Keeping local government employees working using temporary federal funds does nothing to fix the long term problem that caused the local government to decide to let them go in the first place. Had the money been left to the states to decide how to spend, some good might have come from it. For instance, minnesota wanted to pay of the state debt with the money. That would have permanently put the state on a sounder financial footing so it could spend the money going to interest in a more productive manner for the citizens of the state. The Feds said no. A trillion dollars is a terrible thing to waste. Quantitative easing was supposed to free up capital by lifting the bond market. That didn't really happen, but it did manage to make your dollar worth 17% less than it was before. So in effect, the government gave us all a 17% pay cut. Then they wonder why the 4% cut in payroll taxes hasn't spurred spending... Obama care does nothing to control drug costs. It also has yet to kick in the additional costs which will hit everyone in the wallet. Yet it has already caused massive costs as employers shift health care plans in anticipation and the entire system reworks itself to accommodate these mandates. These costs will continue to rise, making this the single most costly program the country has ever devised. Eventually, those who can afford it will have a totally separate health care system from the rest of us. Kind of like education in this country. Where will the politicians get their health care? If where they send their kids to school is any indication, it won't be the public system they mismanage. "All animals are equal, but some animals are more equal than others." — George Orwell We have to rid ourselves of these people who have so mismanaged things. The Bush years were not great for the economy, there was too much spending on the wrong things. But the Bush spending spree was not anywhere close to this level of incompetence. Don't fall for the blame everyone else routine. Get rid of the central planners and this country will right itself.
Mr. Wolf writes: "Right-wingers have unrealistic expectations of President Obama." It was Obama and his economic team that promised we would see a 6.5 and dropping unemployment rate by now if we pass the stimulus bill: today: White House Estimates 9 Percent Unemployment Through Next Year’s Election of us who made the "unrealistic expectation" that the stimulus bill would prove to be an expensive flop that wouldnt reduce the unemployment rate were ridiculed, and criticized. Who is right now?
I am not a Republican or a Democrat and I am not an American. I don't like Obama and I don't like any Republican candidate including Ron Paul. I do however know about money and politics, If you want to understand the United States economy and it's problems these links will help.
I think it would have been much better if the stupid idea of deregulation hadn’t become so popular. Both democrats and republicans joined that band wagon. Now, just like always, here we sit watching both parties preferring to point fingers rather than fix the problem.
Right-wingers have unrealistic expectations of President Obama. This country is recovering from one of the worst recessions in history and it is going to take a long time for the jobs to return. Now for some facts to think about: Ronald Reagan's first 30 months in Feb. 1981 unemployment was 7.4 by July1983 it was 9.4% (it was above 10% for 10 straight months. Sept. 1982 to June 1983) For Obama's first 30 months Feb 2009 it was 8.9% in July 2011 it was 9.1% Reagan's high was 10.8% Obama's high was 10.1%
Jobs were dropping off before Obamacare. They were dropping off before he got into office. My company is rehiring all those they laid off and has created new jobs. They are planning to start up one of the lines they had to shut down - which will create more jobs. I don't see jobs being killed where I am. My husband was laid off and hired by another company within a week. All he did was post his resume online. And he's still getting calls from other companies and has turned down about 4 or 5 other jobs. If you have a job, then why are you complaining about a lack of jobs? Maybe you are being paid to complain about this on here?
You are reading to much into this. You don't like the health care bill, so you want to equate it with something completely different.
Yes, but it would have recovered even faster if the stimulus was not passed.
The dem's have done everything to tax business into oblivion!
I'm sure you think so and want a bunch of people to agree with you.