Sounds Like What My Grandpa Told Me About The Great Depression
Andrew Malcolm blogs at IBD:
A Panera sandwich shop on Chicago's North Side removed its regular prices Thursday and now posts only suggested donations. People pay what they can, maybe a little more than suggested, maybe a little less. If some have no money, they can help clean the store for an hour to earn a meal....Two years ago both Obama and VP Joe Biden, who's taking today off because he can, were promising an amazing Recovery Summer with hundreds of thousands of new jobs created every month. Federal job rolls have grown significantly.
But for the nation, that jobs vow turned out to be as empty as the promise to shutter the Guantanamo Bay Detention Center during 2009. Or the pretend-penurious Obama's 2008 vow to go through his federal budget line-by-line for savings.
The Democratic golfer's latest budget received a truly bipartisan reception on Capitol Hill; it was rejected by every single voting member of the entire Congress of the United States. The Democrat Senate hasn't passed a budget in more than three years. The official unemployment rate remains above 8% for a record 40 months.







The only jobs that Obama is producing are government jobs and so called "green jobs". Federal jobs...up what 11%? along with his commercial to get teachers, cops, firefighters and construction workers back to "work"...why is he focusing only on these occupations? because they are all unionized which means free money and votes for him. All these federal jobs wont go away because they will belong to some public union... Most of the green jobs are a myth, propaganda or an actual lie really, that Obama's administration puts forth. Research what the labor department is classifying as a green job and you will know what I am talking about. Other green jobs have cost tax payer about $9 million a job. Great work Obama. The actual unemployment rate is around 15 to 17%.
Dragonslayer666 at June 22, 2012 8:58 AM
Stimulus Plan
The Broken Window Fallacy is written all over it
[0] Take $880 billion from the economy. ($2,930 per man, woman, and child). Do not adjust the GDP statistics, because this money was surely just lying around doing nothing.
- - - -
[1] Spend (or give if you must) the money on worthy projects and people associated with the government.
(see Crumbling Infrastructure at cafehayek.com/2011/09/crumbling.html )
[2] Make an accounting entry in the statistics "US GDP +$880 billion".
[3] Tell the public that you have increased GDP by $880 billion and have created 3.3 million jobs (or job equivalents).
How to compute jobs: Divide $880 billion by $30,000 per job = 30 million jobs (approximately). Over three years = 10 million jobs sustained each year. Adjust for government fraud and abuse (n/3) = 3.3 million jobs.
[4] Proclaim that all intelligent and some not-so-intelligent economists agree with you, to gain public confidence.
[5] If it doesn't seem to work, try, try again until re-election or ruin.
Important Note:
Omit step [0] above from all interdepartmental communications and press releases. This step is classified. If you are questioned, and really pinned to the wall, go off the record and explain that we are merely transfering some wealth from the future (where it isn't yet needed) into the present (where we desperately need it for re-election).
Avoid any speculation that we cannot really take resources from the future. Yes, we can only take resources available today and put them to a different use, supporting our friends in the government and infrastructure community. The future will eventually arrive and take care of itself, when we may be out of office anyway.
Stimulus Does Not Cure a Recession
Andrew_M_Garland at June 22, 2012 1:18 PM
Since most people won't do the research, here's the silver platter.
What I'm wondering is how a Republican Representative from the San Diego, CA got into office and the position he is in? He is the lead guy in F&F. He's ripping the hell out of Labor.
I'm ready to have his love child. :-p
Jim P. at June 22, 2012 8:54 PM
Re: "The official unemployment rate remains above 8% for a record 40 months." First, evidently the 1930s and early 1940s don't count. Second, the Obama people's projection of economic recovery didn't pan out. Yet, not many economists thought the administration's projections of recovery were credible (and if an awful crisis in Europe arises, we'll feel that here.) Last, Republicans don't have any better ideas.
Iconoclast at June 23, 2012 5:43 PM
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