Barreconomics: How to Wreck the American Economy

[vman]

Stevie McCann sent me this:

While the lessons of the 1930's and 1970's are obvious to all except Barack Obama and his amen chorus, there is another major factor that exists today that was not in play in either of those two previous periods.

The ideal of a world economy is in fact becoming a reality. This has come about as a result of the advent of new technology, global communications and enormous shipping capacity. Countries such as China, India and many other former third world economies have become major players in global trade (they were not in the 1930's or 1970's).

These countries have begun to develop their own middle class and raise the overall standard of living for their populations. In order to compete and continue this growth they must attract businesses and investment capital to their shores and be aggressive in their export activity. They can do so because of cheaper labor costs, lower taxes, fewer regulations and a benign legal environment.

The American worker now does truly compete with those in other countries and not just in the manufacturing sector. American companies too must compete and in order to do so are increasingly opening operations themselves or in joint ventures in these nations. Gone are the days when virtually everything we consumed was produced here or by our and European economic hegemony we were able to control world trade.

Instead of creating a positive business environment in the United States, we are doing everything possible to become fully uncompetitive in the world market.

1) The corporate income tax (state and federal) is among the highest in the world.

2) Litigation and legal costs are unprecedented anywhere and yet the current administration passes and proposes more measures which will result in additional expenses from the filing of specious lawsuits.

3) The prospect of the "Union Card Check" bill passing is real and will result in placing even more financial and operational burdens on U.S. businesses.

4) U.S. corporations are subject to a myriad of existing and now more proposed environmental, employment, pension and financial reporting rules and regulations at the federal, state and local level.

5) The Obama administration, in it's few short weeks, has shown it's willingness to demonize business to achieve it's political objectives as well as mandate how these companies are to be run, what benefits they must provide and what wages they must pay to this or that group.

Faced with these prospects more United States based corporations are looking to move their operations overseas. At the same time foreign based companies are having second thoughts about opening facilities in the U.S. I am an owner of a company that works with various countries primarily in Africa to provide equipment and financing for major capital projects. We have an office in the United Kingdom and the U.S. Often we talk to suppliers worldwide that have plans to open new facilities. Within the past month one such company, looking to open a plant somewhere in North or Central America, has decided not to consider this country because of the political and economic climate. The new jobs created would have been 500+.

The Obama Administration's has chosen to spend its way out of this recession while increasing government involvement in the day to day lives of Americans and American business. Governments cannot create wealth, the only way to get out of this current debacle is to create more wealth and that can only be done by the people and businesses of this country. More money must be kept in their hands to spend and invest and an environment created wherein U.S. based companies are competitive in today's global economy.

If we continue on the course Barack Obama has chosen not only will job creation cease but unemployment will reach double digits, inflation will rival that of the 1970's and jobs lost to countries overseas will never return.

The misguided policies of this Administration must be fought; the long term health of this magnificent country is truly at stake.

[southpaw]

Amen vman. As the health of this country is concerned...we have a cancer I think not terminal yet but malignant nonetheless. We have to aggressively treat the cancer instead of the band-aid treatment of the past 30 years. The cancer is social entitlement programs the future cost of which will make Barry's Barbecue Pork Plan look like spare change. We can no longer support those programs at the current levels let alone expand them.

To the end of your post vman...there are two ways Barry can pay for his 3 trillion stimulus and bailout plans.

1. Raise taxes almost exponentially! Yea right.

2. Print more money causing inflation and a massive devaluation of our currency which is what I think Barry will do and blame Bush or the GOP or Talk radio.

[El-Moldo]

Is anybody paying attention to how they are NOW phrasing the subject of jobs with this new stimulus plan? Weeks ago, Obama was telling everyone that this stimlus package would create over 3 million jobs. NOW, we are hearing that the package will "SAVE and create" over 3 million jobs. What kind of catch-all phrase is that? It's a no lose situation for Obama and the Democrats. If this package ends up creating only 800,000 jobs, they can still tell everyone "but without it, 2.2 million more jobs would have been lost". And how do you measure this???? How do you prove this? You can't!!! All they have to do is say that some jobs were created by the package, BUT more job losses were prevented in the long run. Unbelieveable.

[once a runner]

Moldo, you can argue the merits of the catch all phrase "save and create" and I think you make some valid points. However, Obama has been using that phrase since at least early December. To say he has recently changed the phrasing in incorrect.

On Dec. 6th, 2008: http://change.gov/newsroom/entry/the_ke ... jobs_plan/

But we need action – and action now. That is why I have asked my economic team to develop an economic recovery plan for both Wall Street and Main Street that will help save or create at least two and a half million jobs, while rebuilding our infrastructure, improving our schools, reducing our dependence on oil, and saving billions of dollars.


On Jan. 11th, 2009: http://www.nytimes.com/2009/01/11/us/po ... radio.html

One day after the nation’s unemployment rate was reported to be at a 16-year high, President-elect Barack Obama on Saturday again raised the estimate of how many jobs would result from his economic recovery plan, saying it would create or save three million to four million, nearly 90 percent of them in the private sector.

[El-Moldo]

So don't you think that the average person is EXPECTING 3 million new jobs to be created by this package?

[froggyfan]

Sure, El, and that's what it "sounded like". Unfortunately we tend to hear what we WANT to hear instead of LISTENING to what was actually said. Shame on the prez.

[once a runner]

Why shame on the president? He said "save and create" time and time again. He was being accused of changing his statement which he clearly did not. Is he not speaking English clearly enough for you? Do you not understand what either "save" or "create" mean? Please enlighten me as to why the president should be shamed?

[TheAnalyst]

This didn't take long to find

Dec. 21
http://seattletimes.nwsource.com/html/p ... tim21.html

Dec. 22
http://www.dailymail.co.uk/news/worldne ... lfing.html

Jan. 3
http://blogs.abcnews.com/politicalpunch ... -make.html
He keeps going back and forth...here is the quote in this article
The president-elect says he wants to "create three million new jobs" -- this is a change from a few weeks ago, when he said he wanted the plan to create OR SAVE two million jobs.

Feb 15. - Not that it really matters, since it's a 'guess'
http://www.ctv.ca/servlet/ArticleNews/s ... TopStories

[El-Moldo]

I watch alot of news. It has only been within the last few days that I have been hearing the old "Save and create" 3 million jobs. It has nothing to do with not understanding English. It's like Biden being the native son of Pennsylvania during the election, when he spent 95% of his life in Delaware. Obama will slither around the truth in order to make him look good. Again, it's the "save" part that will help him "save" face. Watch and see.

[southpaw]

Why shame on the president? He said "save and create" time and time again. He was being accused of changing his statement which he clearly did not. Is he not speaking English clearly enough for you? Do you not understand what either "save" or "create" mean? Please enlighten me as to why the president should be shamed?

He is speaking a rare dialect of English called "Clintonspeak" popularized in the mid 90's by Slick Willie Billy Clinton. You know the semantic games Clinton played with the media over Whitewater, Lewinsky, and Vince Foster. Rhambo is the authority on teaching Clintonspeak and his new pupil Barry is quite the prodigy. The "save or create" is a classic Clintonspeak phrase that covers your ****. We will have four years of old and new Clintonspeak to add to our vocabulary.

OAR I will tell you why the new president should be ashamed

1. He campaigned on changing the "culture of corruption" in DC...He has done nothing to change that but in fact has enhanced it.

2. He campaigned to end the deficit spending of the Bush Administration but has in 3 weeks already out spent Bush and more is on the way.

3. He campaigned to end earmarks and pork spending in DC but has as his first centerpiece of legislation to sign an 800 billion dollar bill filled with earmarks, pork, and pet projects and the reintroduction of the welfare state in America.

So shame on him for giving me three children ages 7,6, and 3 a bill to the gov't of $10,000 dollars each.