Posted by 
(Washington DC Rally 2010)
The President and Congress poured close to $800 billion into the country in last year’s “Stimulus Bill” meant to create jobs and spur a spiraling economy. Supporters of the bill say it saved us from delving further into economic downfall and using the Obama “saved or created” model claim it saved or created — fill in the blank it could be any number — jobs. Most economists (unless you work for the White House) call it an ineffective spending free- for- all that has created zero jobs, increased unemployment rates to double digits, and shot the deficit to an all time high.
This year’s “Job’s bill” will cost an estimated $85 billion and despite the different catch phrase, it will do essentially the same thing – with less money—which is funnel billions of dollars to state governments to fund entitlement programs and further extend unemployment benefits. Add several hundred pork barrel spending gimmicks by politically connected officials on dumb wasteful pet projects that will not create a single job in the private sector, the sector of the economy that accounts for 80% of all new jobs, and we have an unemployment catastrophe on our hands – yet again.
But is the federal government capable of creating jobs in the private sector anyway? Can the feds be the “invisible hand” an economy relies on? The answer is no and no. It is so simple a twelve year old can figure it out if given all the facts, and maybe it’s just arrogance rather than stupidity on the part of the President, but spending money doesn’t save money and creating jobs are better left to the free market. The Labor Department indicated in its report, that 20,000 jobs were lost in the month of January 2010 alone.
If we want jobs to be created in the private sector, owners ought to be able to do business and consumers ought to be able to set prices and quality through their purchasing power – that’s the way it works in a capitalist society. If the private sector is weighted down with high taxes and heavy regulation by the government, they are unable to grow and expand business and create jobs.
Just to give you a glimpse of how incompetent this administration is, note how the President’s often touted “green jobs” initiative actually outsourced American jobs overseas. Investors.com reports:
Of the 1,807 turbines erected [in America] on 28 wind farms receiving [Federal] grants, foreign-owned manufacturers built 1,219, according to the workshop report. The installation of these turbines may have created as many as 6,838 manufacturing jobs overseas.
When the American Wind Energy Association released its 2009 year-end report on Jan. 26, CEO Denise Bode acknowledged that despite billions in stimulus spending, there had actually been a net loss in manufacturing jobs. Bode told USA Today she estimates the manufacturing job loss at 1,500. [Emphasis mine]
It doesn’t matter how often this administration says it’s doing the right thing to spur the economy, experts know and the American people know that we cannot spend our way out of a bad economy with borrowed money, and the federal government is incapable of creating private sector jobs, and in fact takes measures to prevent job creation.
The President is a Harvard Law Professor, Nobel Peace Prize winning intellectual who should be sipping pina coladas on a beach in Belize, not setting American economic policy – good grief!
A friend of mine just emailed me one of your articles from a while back. I read that one a few more. Really enjoy your blog. Thanks
By Randy Pena on Feb 13, 2010
Hello.
I would like to put a link to your site on my blog roll if you want to do the same for mine. It would be a good way to build up both of our readerships.
thank you.
By Darryl Coleman on Feb 13, 2010
Raquel
Right on target as usual! Great editorial.
Anna Wells
By Anna on Feb 13, 2010
Predatory Lending is a major contributor to the economic turmoil we are currently experiencing.
Here is an example of what I am talking about:
Scott Veerkamp / Predatory Lending (Franklin Township School Board Member.)
Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices:
“Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM.”
The Center for Responsible Lending says YSP “steals equity from struggling families.”
1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers.
http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F
By jmb27 on Feb 13, 2010
our unions have a big role to play, both here & abroad. Presently, they are building a higher and higher wall around US manufacturers, around their own membership, and, in fact, around all US workers…just as Ming China with her magnificent Great Wall keep progress out her nation for 300 years. US Unions, if they want to help workers and offer global progress, should – in my opinion – go global themselves and emphasize the benefits of minimum wages & basic protections to the workers on China and India and Thailand and Brazil, rather than creating and demanding more and more rubber rooms (pay for NO work) and foolish work rules (pay for LESS work) here.
Down the road, with basic protections overseas more comparable to here, US business can compete effectively and the more productive US workers will shine in the world marketplace…PJS
By pete stubben on Feb 13, 2010
Raquel
Where did you get so much “common sense” – common sense seems to be the least common in political circles today. It is truly time for this administration to stop trying to run the banks, the car manufacturers, and our health care and get out of the way. Our economy has been doing quite well using the free market method. I cannot wait for Judgment Day – Nov 2, 2010.
By PBob on Feb 13, 2010
I agree, this would-be dictator will ruin America if he is not stopped.
We need to… impeach Obama; bring the troops home and resolve to fight only when necessary (Ron Paul offered a bill to authorize limited action when authorized by congress and of course it was ignored)and then come home; close our borders and send illegals back where they came from; return the power to the states except for specific powers granted the feds by the constitution; vote in people who will uphold the constitution; use the sherrifs in each county to restore order (as is being done in Arizona in one county); close down IRS and Fed. Reserve and public school system at the federal level; close down abortion/killing places (do we not understand that the sovereign God is judging us for killing 1.2 million babies each yer since 1973?);and more asap.
This can be done with the right people. And wouldn’t it be fun and satisfying and it would glorify God to return this country to one which resembles that which was created with the help of the everlasting, never-changing, sovereign God!!!
By Frank A. Vish Jr. on Feb 13, 2010
P-Bob I get my common sense from my mother, she came to America from Puerto Rico when she was 18 years old for a better life, and she built one through hard work, love of God and love of family and love of country — her home — America!
Friends, Pete Stubben’s comments are important, he’s in the financial industry, and speaking from more than a lay person’s perspective. Unfunded pension plans is probably one of the biggest problems facing New York. We’ve got to get a handle on the way unions intimidate politicians into unfair and expensive contracts.
Frank, you’ve got alot of good ideas, I’m not sure if we can attain all of them, but we can sure try!
Thanks to all for your comments!
By Raquel on Feb 14, 2010