It seems that the real reason unemployment is not going down is that the people out there looking for jobs are not educated enough to get one. So President Obama's policies are not to blame any more and I guess now that they have come to that conclusion President Bush can no longer be blamed either. It is all the people's fault and it will take a generation to fix the problem. VOTE DEMORAT!
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From talking to unemployed people it seems the reason unemployment isn't going down is because there are no jobs, and there is an administration in office that isn't interested in creating jobs to put people back to work.
It seems that the real reason unemployment is not going down is that companies are not expanding their businesses due to excessive regulation, excessive taxation and the lack of knowledge on what the Affordable Healthcare Act is going to cost them. Corporations would rather sit on hoards of cash than take the risk of hiring people. It's just safer for a company to sit on cash and not to take on unknown liabilities associated with expanding their operations.
And when companies get a chance, they're shedding those approaching retirement age to decrease day to day expenses. Most of the time, no replacement will be hired and those left will just have to work that much harder.
And I agree with you that DEMORATS are to blame for the current economy. They have no plan of action to improve the middle class--and have completely sold out the poor and unfortunate.
I honestly don't know anyone that's willing to admit they're a DEMORAT and that they voted for O'Bama.
But Romney said the government wasn't supposed to create jobs....
Government can help job creation though.
Yet, the Republicans in congress will not vote on a jobs bills.
I don't know anyone without a job right now. I know plenty of people that are working for very low wages. Productivity is up, and wages are flat. What does that tell us? Those "job creators" are being greedy as always.
The economy is better today than it was when President Obama took office. That is a fact that eats at the right. Think of how great it would be if the Republicans had not spent the last 5 years trying to obstruct his plans for America? What he was able to do has helped tremendously. He will go down in history as one of the best Presidents we have ever had.
I voted for him, twice. I would vote for him again if I could. Since I can't I hope I will be voting for the first woman President. Either Clinton or Warren.
The gimmethats think standing in the government give away program's lines waiting to sign up for their "free stuff" IS their job, and the only one they're interested in doing.
Best is so jealous of the poor it is pitiful. LOL
But Romney said the government wasn't supposed to create jobs....
Government can help job creation though.
Yet, the Republicans in congress will not vote on a jobs bills.
I don't know anyone without a job right now. I know plenty of people that are working for very low wages. Productivity is up, and wages are flat. What does that tell us? Those "job creators" are being greedy as always.
The economy is better today than it was when President Obama took office. That is a fact that eats at the right. Think of how great it would be if the Republicans had not spent the last 5 years trying to obstruct his plans for America? What he was able to do has helped tremendously. He will go down in history as one of the best Presidents we have ever had.
_____________________________________
Jank, m'dear, Obama has no experience in leadership as an executive. And, shows it. If, he were allowed to follow his plan unhindered, the economy would be much worse. Its Carter all over again.
Government can create jobs, but at the expense of many more jobs sacrificed in the private sector,
Best is so jealous of the poor it is pitiful. LOL
_____________________
Democrat meme. With the cascading failure, its all they have -- bumper sticker logic.
The U.S. FED Printing $85 Billion Per Month of “Stimulus”
Yep, everything's fine............
http://www.netadvisor.org/2012...r-month-of-stimulus/
no executive experience you say dire? you voted for azzhole Romney who was never in any critical executive position other than trying to be a French shoe polisher.. Obama was a senator and then POTUS for over five years and has saved the country from complete collapse. Aren't you supposed to be down on the street corner in your rain coat?
Romney -- governor, rescuer of a failing Olympics program (actually showed a profit) and Bain, which rescued a number of failing businesses. Poor Squirrelly Dawg, isn't let out much, anymore.
Best is so jealous of the poor it is pitiful. LOL
Ah, well.....She can always come hang out with me, then.
Po' ain't necessarily a bad place to be......and I've never stood in a gimmethat line.
From talking to unemployed people it seems the reason unemployment isn't going down is because there are no jobs, and there is an administration in office that isn't interested in creating jobs to put people back to work.
Not true at all. It is Congressional Republicans , that didn't want to create jobs, so that they could discredit the President. Even tho it would have put an estimated 18,000 people to work here in Alabama, both our excuses for senators voted against it.
http://www.whitehouse.gov/the-...et-american-jobs-act
Thankfully, that nightmare of a bill did not pass.
Details;
The cost of the bill was $447 billion
http://www.unitedexplanations....jobs-act-breakdown/#
Per the White House website, the bill would create 2.1 million jobs.
Raise nonfarm establishment employment by 1.3 million by the end of 2012 and 0.8 million by the end of 2013.
http://www.whitehouse.gov/blog...act-will-create-jobs
It would cost $212,857 to create each job! Got that, $212,857 per job and another $447 billion added to the debt.
How about doing the old fashioned way -- let the private sector create jobs that produce taxes that reduce the deficit, not add to it.
Thankfully, that nightmare of a bill did not pass.
Details;
The cost of the bill was $447 billion
http://www.unitedexplanations....jobs-act-breakdown/#
Per the White House website, the bill would create 2.1 million jobs.
Raise nonfarm establishment employment by 1.3 million by the end of 2012 and 0.8 million by the end of 2013.
http://www.whitehouse.gov/blog...act-will-create-jobs
It would cost $212,857 to create each job! Got that, $212,857 per job and another $447 billion added to the debt.
How about doing the old fashioned way -- let the private sector create jobs that produce taxes that reduce the deficit, not add to it.
============
Well, the "job creators" have had 14 years to do their thing as Bush promised. They haven't done it, they have hoarded it in foreign accounts. The government is the employer of last resort.
Somebody HAS to have money to buy stuff. That's how the system works. No money in the hands of the masses, and they don't buy stuff to make the rich richer. The very reason Henry Ford paid his employees about twice the living wage, so they could all go buy a new Ford car.
seeweed, you're the only one with any sense
Thankfully, that nightmare of a bill did not pass.
Details;
The cost of the bill was $447 billion
http://www.unitedexplanations....jobs-act-breakdown/#
Per the White House website, the bill would create 2.1 million jobs.
Raise nonfarm establishment employment by 1.3 million by the end of 2012 and 0.8 million by the end of 2013.
http://www.whitehouse.gov/blog...act-will-create-jobs
It would cost $212,857 to create each job! Got that, $212,857 per job and another $447 billion added to the debt.
How about doing the old fashioned way -- let the private sector create jobs that produce taxes that reduce the deficit, not add to it.
============
Well, the "job creators" have had 14 years to do their thing as Bush promised. They haven't done it, they have hoarded it in foreign accounts. The government is the employer of last resort.
Somebody HAS to have money to buy stuff. That's how the system works. No money in the hands of the masses, and they don't buy stuff to make the rich richer. The very reason Henry Ford paid his employees about twice the living wage, so they could all go buy a new Ford car.
_________________________________________________________
2001 4.7 2002 5.8 20031 6.0% 20041 5.5 20051 5.1 2006 4.6 2007 4.6 2008 5.8 2009 9.3 2010 9.6 2011 8.9 2012 8.1
United States Unemployment Rate 1920–2012 | Infoplease.com http://www.infoplease.com/ipa/...9.html#ixzz2vLHcDEhk
Looks like the unemployment rate was pretty low during the Bush years. And, not the false readings we see not because of people no longer trying.
Companies are keeping their funds overseas as the US corporate rate is the largest on earth. True, international companies don't pay the top tier 35 percent. But, those that do bring their profits back usually pay an effective rate of 27 percent. Globally, the effective rate is 20 percent. Bringing their profits back, only to give most to the government would be irresponsible. Shareholders would fire their board of directors. Blame the government for funds staying overseas.
As to why Ford paid his workers well, it wasn't so they could buy a Model T,. It was to stop turnover.
"Actually, it was the turnover of his staff.
At the time, workers could count on about $2.25 per day, for which they worked nine-hour shifts. It was pretty good money in those days, but the toll was too much for many to bear. Ford’s turnover rate was very high. In 1913, Ford hired more than 52,000 men to keep a workforce of only 14,000. New workers required a costly break-in period, making matters worse for the company. Also, some men simply walked away from the line to quit and look for a job elsewhere. Then the line stopped and production of cars halted. The increased cost and delayed production kept Ford from selling his cars at the low price he wanted. Drastic measures were necessary if he was to keep up this production.
t’s also not true that the offer was of $5 a day in wages. It was all rather more complicated than that:
The $5-a-day rate was about half pay and half bonus. The bonus came with character requirements and was enforced by the Socialization Organization. This was a committee that would visit the employees’ homes to ensure that they were doing things the “American way.” They were supposed to avoid social ills such as gambling and drinking. They were to learn English, and many (primarily the recent immigrants) had to attend classes to become “Americanized.” Women were not eligible for the bonus unless they were single and supporting the family. Also, men were not eligible if their wives worked outside the home."
http://www.forbes.com/sites/ti...-not-what-you-think/
Things aren't what some portray them to be. Best to do the research before becoming a true believer. That way you keep from drinking the Flavor-aid.
Has anyone ever noticed that it's no problem to rewrite history to get an arguing point?
Has anyone ever noticed that it's no problem to rewrite history to get an arguing point?
________________________
jtd,
I've long heard the feel good story about Ford paying he's employees. However, since I also studied business and its evolution in the US, I knew the truth. Instead of yelling liar, when someone presents an inconvenient truth, why not try to disprove it.
its been proven.. about three times.. and yet, you still post the same lies. now what's your next suggestion?
Crash as usual, all hat, no cattle. Reference please -- a simple link.
REPUBLICANS hate it when President Obama comes up with any plan that would help the economy.
Office of the Press Secretary
Fact Sheet: The American Jobs Act
THE AMERICAN JOBS ACT
1. Tax Cuts to Help America’s Small Businesses Hire and Grow
- Cutting the payroll tax in half for 98 percent of businesses: The President’s plan will cut in half the taxes paid by businesses on their first $5 million in payroll, targeting the benefit to the 98 percent of firms that have payroll below this threshold.
- A complete payroll tax holiday for added workers or increased wages: The President’s plan will completely eliminate payroll taxes for firms that increase their payroll by adding new workers or increasing the wages of their current worker (the benefit is capped at the first $50 million in payroll increases).
- Extending 100% expensing into 2012: This continues an effective incentive for new investment.
- Reforms and regulatory reductions to help entrepreneurs and small businesses access capital.
2. Putting Workers Back on the Job While Rebuilding and Modernizing America
- A “Returning Heroes” hiring tax credit for veterans: This provides tax credits from $5,600 to $9,600 to encourage the hiring of unemployed veterans.
- Preventing up to 280,000 teacher layoffs,while keeping cops and firefighters on the job.
- Modernizing at least 35,000 public schools across the country,supporting new science labs, Internet-ready classrooms and renovations at schools across the country, in rural and urban areas.
- Immediate investments in infrastructure and a bipartisan National Infrastructure Bank, modernizing our roads, rail, airports and waterways while putting hundreds of thousands of workers back on the job.
- A New “Project Rebuild”, which will put people to work rehabilitating homes, businesses and communities, leveraging private capital and scaling land banks and other public-private collaborations.
- Expanding access to high-speed wireless as part of a plan for freeing up the nation’s spectrum.
3. Pathways Back to Work for Americans Looking for Jobs.
- The most innovative reform to the unemployment insurance program in 40 years: As part of an extension of unemployment insurance to prevent 5 million Americans looking for work from losing their benefits, the President’s plan includes innovative work-based reforms to prevent layoffs and give states greater flexibility to use UI funds to best support job-seekers, including:
- Work-Sharing: UI for workers whose employers choose work-sharing over layoffs.
- A new “Bridge to Work” program: The plan builds on and improves innovative state programs where those displacedtake temporary, voluntary work or pursue on-the-job training.
- Innovative entrepreneurship and wage insurance programs: States will also be empowered to implement wage insurance to help reemploy older workers and programs that make it easier for unemployed workers to start their own businesses.
- A $4,000 tax credit to employers for hiring long-term unemployed workers.
- Prohibiting employers from discriminating against unemployed workers when hiring.
- Expanding job opportunities for low-income youth and adults through a fund for successful approaches for subsidized employment, innovative training programs and summer/year-round jobs for youth.
4. Tax Relief for Every American Worker and Family
- Cutting payroll taxes in half for 160 million workers next year: The President’s plan will expand the payroll tax cut passed last year to cut workers payroll taxes in half in 2012 – providing a $1,500 tax cut to the typical American family, without negatively impacting the Social Security Trust Fund.
- Allowing more Americans to refinance their mortgages at today’s near 4 percent interest rates, which can put more than $2,000 a year in a family’s pocket.
5. Fully Paid for as Part of the President’s Long-Term Deficit Reduction Plan.To ensure that the American Jobs Act is fully paid for, the President will call on the Joint Committee to come up with additional deficit reduction necessary to pay for the Act and still meet its deficit target. The President will, in the coming days, release a detailed plan that will show how we can do that while achieving the additional deficit reduction necessary to meet the President’s broader goal of stabilizing our debt as a share of the economy.
AMERICAN JOBS ACT OVERVIEW
The American people understand that the economic crisis and the deep recession weren’t created overnight and won’t be solved overnight. The economic security of the middle class has been under attack for decades. That’s why President Obama believes we need to do more than just recover from this economic crisis – we need to rebuild the economy the American way, based on balance, fairness, and the same set of rules for everyone from Wall Street to Main Street. We can work together to create the jobs of the future by helping small business entrepreneurs, by investing in education, and by making things the world buys. The President understands that to restore an American economy that’s built to last we cannot afford to outsource American jobs and encourage reckless financial deals that put middle class security at risk.
To create jobs, the President unveiled the American Jobs Act – nearly all of which is made up of ideas that have been supported by both Democrats and Republicans, and that Congress should pass right away to get the economy moving now. The purpose of the American Jobs Act is simple: put more people back to work and put more money in the pockets of working Americans. And it would do so without adding a dime to the deficit.
Tax Cuts to Help America’s Small Businesses Hire and Grow
New Tax Cuts to Businesses to Support Hiring and Investment:The President is proposing three tax cuts to provide immediate incentives to hire and invest:
- Cutting the Payroll Tax Cut in Half for the First $5 Million in Wages:This provision would cut the payroll tax in half to 3.1% for employers on the first $5 million in wages, providing broad tax relief to all businesses but targeting it to the 98 percent of firms with wages below this level.
- Temporarily Eliminating Employer Payroll Taxes on Wages for New Workers or Raises for Existing Workers:The President is proposing a full holiday on the 6.2% payroll tax firms pay for any growth in their payroll up to $50 million above the prior year, whether driven by new hires, increased wages or both. This is the kind of job creation measure that CBO has called the most effective of all tax cuts in supporting employment.
- Extending 100% Expensing into 2012:The President is proposing to extend 100 percent expensing, the largest temporary investment incentive in history, allowing all firms – large and small – to take an immediate deduction on investments in new plants and equipment.
- Helping Entrepreneurs and Small Businesses Access Capital and Grow: The President’s plan includes administrative, regulatory and legislative measures – including those developed and recommended by the President’s Jobs Council – to help small firms start and expand. This includes changing the way the government does business with small firms. The Administration will soon announce a plan to accelerate government payments to small contractors to help put money in their hands faster. The President is also charging his CIO and CTO to, within 90 days, stand up a one-stop, online portal for small businesses to easily access government services. As part of the President’s Startup America initiative, the Administration will work with the SEC to conduct a comprehensive review of securities regulations from the perspective of these small companies to reduce the regulatory burdens on small business capital formation in ways that are consistent with investor protection, including expanding “crowdfunding” opportunities and increasing mini-offerings. Finally, the President’s plan calls for Congress to pass comprehensive patent reform, increase guarantees for bonds to help small businesses compete for infrastructure projects and remove burdensome withholding requirements that keep capital out of the hands of job creators.
Putting Workers Back on the Job While Rebuilding and Modernizing America
- Tax Credits and Career Readiness Efforts to Support Veterans’ Hiring:The President is proposing a Returning Heroes Tax Credit of up to $5,600 for hiring unemployed veterans who have been looking for a job for more than six months, and a Wounded Warriors Tax Credit of up to $9,600 for hiring unemployed workers with service-connected disabilities who have been looking for a job for more than six months, while creating a new task force to maximize career readiness of servicemembers.
- Preventing Layoffs of Teachers, Cops and Firefighters:The President is proposing to invest $35 billion to prevent layoffs of up to 280,000 teachers, while supporting the hiring of tens of thousands more and keeping cops and firefighters on the job. These funds would help states and localities avoid and reverse layoffs now, requiring that funds be drawn down quickly. Under the President’s proposal, $30 billion be directed towards educators and $5 billion would support the hiring and retention of public safety and first responder personnel.
- Modernizing Over 35,000 Schools – From Science Labs and Internet-Ready Classrooms to Renovated Facilities:The President is proposing a $25 billion investment in school infrastructure that will modernize at least 35,000 public schools – investments that will create jobs, while improving classrooms and upgrading our schools to meet 21st century needs. This includes a priority for rural schools and dedicated funding for Bureau of Indian Education funded schools. Funds could be used for a range of emergency repair and renovation projects, greening and energy efficiency upgrades, asbestos abatement and removal, and modernization efforts to build new science and computer labs and to upgrade technology in our schools. The President is also proposing a $5 billion investment in modernizing community colleges (including tribal colleges), bolstering their infrastructure in this time of need while ensuring their ability to serve future generations of students and communities.
- Making an Immediate Investment in Our Roads, Rails and Airports: The President’s plan includes $50 billion in immediate investments for highways, transit, rail and aviation, helping to modernize an infrastructure that now receives a grade of “D” from the American Society of Civil Engineers and putting hundreds of thousands of construction workers back on the job. The President’s plan includes investments to improve our airports, support NextGen Air Traffic Modernization efforts, and resources for the TIGER and TIFIA programs, which target competitive dollars to innovative multi-modal infrastructure programs. It will also take special steps to enhance infrastructure-related job training opportunities for individuals from underrepresented groups and ensure that small businesses can compete for infrastructure contracts.The President will work administratively to speed infrastructure investment through a recently issued Presidential Memorandum developed with his Jobs Council directingdepartments and agencies to identify high impact, job-creating infrastructure projects that can be expedited in a transparent manner through outstanding review and permitting processes. The call for greater infrastructure investment has been joined by leaders from AFL-CIO President Richard Trumka to U.S. Chamber of Commerce President Thomas Donohue.
- Establishing a National Infrastructure Bank:The President is calling for Congress to pass a National Infrastructure Bank capitalized with $10 billion, in order to leverage private and public capital and to invest in a broad range of infrastructure projects of nationaland regional significance, without earmarks or traditional political influence. The Bank would be based on the model Senators Kerry and Hutchison have championed while building on legislation by Senators Rockefeller and Lautenberg and the work of long-time infrastructure bank champions like Rosa DeLauro and the input of the President’s Jobs Council.
- Project Rebuild: Putting People Back to Work Rehabilitating Homes, Businesses and Communities. The President is proposing to invest $15 billion in a national effort to put construction workers on the job rehabilitating and refurbishing hundreds of thousands of vacant and foreclosed homes and businesses. Building on proven approaches to stabilizing neighborhoods with high concentrations of foreclosures, Project Rebuild will bring in expertise and capital from the private sector, focus on commercial and residential property improvements, and expand innovative property solutions like land banks. This approach will not only create construction jobs but will help reduce blight and crime and stabilize housing prices in areas hardest hit by the housing crisis.
- Expanding Access to High-Speed Wireless in a Fiscally Responsible Way: The President is calling for a deficit reducing plan to deploy high-speed wireless services to at least 98 percent of Americans, including those in more remote rural communities, while freeing up spectrum through incentive auctions, spurring innovation, and creating a nationwide, interoperable wireless network for public safety.
Pathways Back to Work for Americans Looking for Jobs
- Reform Our Unemployment Insurance System to Provide Greater Flexibility, While Ensuring 6 Million People Do Not Lose Benefits: Drawing on the best ideas of both parties and the most innovative states, the President is proposing the most sweeping reforms to the unemployment insurance (UI) system in 40 years help those without jobs transition to the workplace. Alongside these reforms, the President is reiterating his call to extend unemployment insurance, preventing 6 million people looking for work from losing their benefits and extending what the independent Congressional Budget Office has determined is the highest “bang for the buck” option to increase economic activity.
- Reemployment Assistance: States will be required to design more rigorous reemployment services for the long-term unemployed and to conduct assessments to review the longest-term claimants of UI to assess their eligibility and help them develop a work-search plan. These reforms are proven to speed up UI beneficiaries’ return to work.
- Work-sharing:The President will expand “work-sharing” to encourage arrangements using UI that keep employees on the job at reduced hours, rather than laying them off.
- State Flexibility for Bold Reforms to Put the Long-Term Unemployed Back To Work:The President is proposing to provide additional funds to allow states to introduce new programs aimed at long-term unemployed workers, including:
- “Bridge to Work” Programs:States will be able to put in place reforms that build off what works in programs like Georgia Works or Opportunity North Carolina, while instituting important fixes and reforms that ensure minimum wage and fair labor protections are being enforced. These approaches permits long-term unemployed workers to continue receiving UI while they take temporary, voluntary work or pursue work-based training. The President’s plan requires compliance with applicable minimum wage and other worker rights laws.
- Wage Insurance: States will be able to use UI to encourage older, long-term unemployed Americans to return to work in new industries or occupations.
- Startup Assistance: States will have flexibility to help long-term unemployed workers create their own jobs by starting their own small businesses.
- Other Reemployment Reforms: States will be able to seek waivers from the Secretary of Labor to implement other innovative reforms to connect the long-term unemployed to work opportunities.
- Tax Credits for Hiring the Long-Term Unemployed:The President is proposing a tax credit of up to $4,000 for hiring workers who have been looking for a job for over six months.
- Investing in Low-Income Youth and Adults: The President is proposing a new Pathways Back to Work Fund to provide hundreds of thousands of low-income youth and adults with opportunities to work and to achieve needed training in growth industries. The Initiative will do three things: i) support summer and year-round jobs for youth, building off of successful programs that supported over 370,000 such jobs in 2009 and 2010; ii) support subsidized employment opportunities for low-income individuals who are unemployed, building off the successful TANF Emergency Contingency Fund wage subsidy program that supported 260,000 jobs in 2009 and 2010; and iii) support promising and innovative local work-based job and training initiatives to place low-income adults and youths in jobs quickly.
- Prohibiting Employers from Discriminating Against Unemployed Workers: The President’s plan calls for legislation that would make it unlawful to refuse to hire applicants solely because they are unemployed or to include in a job posting a provision that unemployed persons will not be considered.
More Money in the Pockets of Every American Worker and Family
- Cutting Payroll Taxes in Half for 160 Million Workers Next Year:The President’s plan will expand the payroll tax cut passed last December by cutting workers payroll taxes in half next year. This provision will provide a tax cut of $1,500 to the typical family earning $50,000 a year. As with the payroll tax cut passed in December 2010, the American Jobs Act will specify that Social Security will still receive every dollar it would have gotten otherwise, through a transfer from the General Fund into the Social Security Trust Fund.
- Helping More Americans Refinance Mortgages at Today’s Historically Low Interest Rates: The President has instructed his economic team to work with Fannie Mae and Freddie Mac, their regulator the FHFA, major lenders and industry leaders to remove the barriers that exist in the current refinancing program (HARP) to help more borrowers benefit from today’s historically low interest rates. This has the potential to not only help these borrowers, but their communities and the American taxpayer, by keeping borrowers in their homes and reducing risk to Fannie Mae and Freddie Mac.
Fully Paid for as Part of the President’s Long-Term Deficit Reduction Plan.
- To ensure that the American Jobs Act is fully paid for, the President will call on the Joint Committee to come up with additional deficit reduction necessary to pay for the Act and still meet its deficit target. The President will, in the coming days, release a detailed plan that will show how we can do that while achieving the additional deficit reduction necessary to meet the President’s broader goal of stabilizing our debt as a share of the economy.
$, bn | ||
Tax Cuts to Help America’s Small Businesses Hire and Grow | 70 | |
| Cut employer payroll taxes in half & bonus payroll cut for new jobs/wages | 65 |
| Extend 100% expensing in 2012 | 5 |
Putting Workers Back on the Job While Rebuilding and Modernizing America | 140 | |
| Teacher rehiring and first responders | 35 |
| Modernizing schools | 30 |
| Immediate surface transportation | 50 |
| Infrastructure bank | 10 |
Rehabilitation/repurposing of vacant property (neighborhood stabilization) | 15 | |
National wireless initiative | 0* | |
Veterans hiring initiative | n.a. | |
Pathways Back to Work for Americans Looking for Jobs | 62 | |
| UI Reform and Extension | 49 |
| Jobs tax credit for long term unemployed | 8 |
| Pathways back to work fund | 5 |
More Money in the Pockets of Every American Worker and Family | 175 | |
Cutting employee payroll taxes in half in 2012 | 175 | |
TOTAL | 447 |
* Proposal has a gross cost of $10bn, but a net deficit reducing impact of $18bn because of spectrum auction proceeds.
But Romney said the government wasn't supposed to create jobs....
Government can help job creation though.
Yet, the Republicans in congress will not vote on a jobs bills.
I don't know anyone without a job right now. I know plenty of people that are working for very low wages. Productivity is up, and wages are flat. What does that tell us? Those "job creators" are being greedy as always.
The economy is better today than it was when President Obama took office. That is a fact that eats at the right. Think of how great it would be if the Republicans had not spent the last 5 years trying to obstruct his plans for America? What he was able to do has helped tremendously. He will go down in history as one of the best Presidents we have ever had.
Wages for the unskilled and uneducated are flat to negative. People with marketable skill sets are seeing increasing wages.
Obama promised that if we approved his programs, the GDP would rise to 4.5 percent. However, its hanging in the 2 percent range. His economic computer models are as flawed as the global warming models.
Two decades ago, the Japanese increase government spending to jump start the economy. Results -- the lost decades and a national debt over 233 percent of GDP. The spending route doesn't work. Europe went austerity because they ran out of cash.
Good article on why companies are hoarding cash.
Mohamed El-Erian Has A Fascinating Theory For Why Companies Aren't Spending More Money
REUTERS/Fred Prouser
It's a question people have been asking for years, as profits keep pushing towards record levels, and corporate cash keeps piling up, while yielding very little.
In a piece at Project Syndicate, Mohamed El-Erian offers 5 possible reasons why this is the case. Most of them are fairly standard. The economic outlook remains uncertain. The Chinese financial system casts a dark cloud over the entire global economy. There's uncertainty about budgets and monetary policy. But one answer is particularly intriguing:
Third, while companies recognize that innovation is a key comparative advantage in today’s global economy, they are also humbled by its increasingly winner-take-all nature. Successful innovation today is a lot less about financing and much more about finding the “killer app.” As a result, many companies, less convinced that “normal” innovation yields big payoffs, end up investing less overall than they did before.
The most obvious example to point to here is Microsoft vs. Apple.
This chart is a couple years old, but the point is still totally valid; Microsoft has long obliterated Apple in terms of the amount it spends on R&D.
BI
But everyone knows that for basically the last decade, Apple has been unmatched in terms of innovations that lead to commercial successes. And in part it's the winner-take-all nature of the economy. Regardless of how strong Microsoft's mobile products have been technically, they just haven't been able to gain traction
El-Erian's statement echoes something similar that Larry Summers said just this week when talking about the Facebook acquisition of WhatsApp, the 4-year old messaging company that was worth shelling out $19 billion for.
Ponder for example that the leading technological companies of this age, I think for example of Apple and Google, find themselves swimming in cash and facing the challenge of what to do with a very large cash hoard. Ponder the fact that WhatsApp has a greater market value than Sony with next to no capital investment required to achieve it. Ponder the fact that it used to require tens of millions of dollars to start a significant new venture. Significance new ventures today are seeded with hundreds of thousands of dollars in the information technology era. All of this means reduced demand for investment with consequences for the flow of - with consequences for equilibrium levels of interest rates.
In a winner-take-all economy, the relationship between investment spending and outcomes becomes less direct. When a company that's taken in almost no cash becomes a $19 billion behemoth, it's hard to draw any line between how much you spend on investment and innovation and payoff. So much of it is luck and network effects, and having, as El-Erian puts it, that "killer app" that takes over the world. Obviously this analysis doesn't apply to all firms, but this is a powerful trend that may explain a lot.
Read more: http://www.businessinsider.com...2014-3#ixzz2vNxbyy2x
Crash as usual, all hat, no cattle. Reference please -- a simple link.
____________________
as usual.. what was wrong the first three times you saw it? why do you need additional links.. did you not understand in the first three threads we discussed this? do you not remember 'jank' handing you your ass? do you block all those times from your memory? i'm done providing you 'links' that you obviously ignore, then ask for 4 or 5 additional times.. all the while telling the same lies we hashed out over other threads. there is no way you are this dense.
"Under Kasich’s leadership, Ohio has eliminated the state’s estate tax. Its “Rainy Day Fund” has gone from a mere 89 cents (yes, you read that correctly) in total to $1.4 billion by July 2013.
Ohio’s $5.3 billion income tax cut has been the largest in the nation, with $1.4 billion of that now going to small business entrepreneurs who are leading the way in creating jobs."
http://www.foxnews.com/opinion...d-fears-run-by-ohio/
In the last few years, while America’s attention has been focused on everything from the Facebook IPO, Miley Cyrus’ twerking and the Olympics, something special has been happening in Ohio.
Ohio? Say what?
In economic terms, what’s been happening in Ohio has been hailed by some as the “Ohio miracle.” That’s because, the state’s governor, former Congressman John Kasich is doing for Ohio what he did for America in the late 1990s when he was the last man to balance the federal budget as the chief architect of the Balanced Budget Act of 1997.
Since Kasich became governor, the results of his “Jack Kemp style” economics have made a dramatic difference in the Buckeye State.
Under Kasich’s leadership, Ohio has eliminated the state’s estate tax. Its “Rainy Day Fund” has gone from a mere 89 cents (yes, you read that correctly) in total to $1.4 billion by July 2013.
Ohio’s $5.3 billion income tax cut has been the largest in the nation, with $1.4 billion of that now going to small business entrepreneurs who are leading the way in creating jobs.
Since Kasich became governor, the results of his “Jack Kemp style” economics have made a dramatic difference in the Buckeye State. Here are just a few examples:
-- Over 170,000 new private sector jobs have been created
-- There have been more new businesses created since Kasich took office than at any other time in Ohio history.
-- Incomes in the state are now rising twice as fast as they are across the country
-- The state’s unemployment rate has dropped by 21%.
Kasich, who took a private sector job with Lehmann Bros. after leaving Congress, was part of the business team that took Google public.
As governor, he has offered a shining example, an Economics 101 class if you will, on why the free enterprise system works.
How did we get here?
A little history is in order. In 1995, then-House Speaker Newt Gingrich pushed hard for Kasich to become chairman of the House Budget Committee. He got the post and successfully shepherded the Balanced Budget Act of 1997.
This was a major accomplishment: America’s budget had not been balanced since Neil Armstrong and Buzz Aldrin walked on the moon.
It hasn’t been balanced since.
Fast forward to today: As governor, Kasich is leading the way in calling for a constitutional convention to take the necessary steps to approve a federal balanced budget amendment. Lately, Michigan, Alabama, Louisiana, and Tennessee have joined Kasich’s effort which is supported by 20 states.
Recently, I was speaking to a well respected journalist about possible 2016 GOP presidential contenders AND I and threw out Kasich’s name. He responded, “Oh yes, I’ve done some checking and he’s the one who scares the George Soros and Hillary Clinton crowd the most.” “Why’s that,” I asked. He replied, “They can’t figure out how to beat him in a general election.”
The more I thought about it, the more I realized why the George Soros crowd fears Kasich the most. They can’t demonize him and use the same old worn out liberal playbook they’ve used against national GOP contenders in recent years.
Kasich, the son of a mailman, is also the grandson of Croatian immigrants. He’s a blue-collar Republican who feels as much at home in a bowling alley -- drinking a beer and eating chicken wings – as he does when he gives a rousing speech about entrepreneurial capitalism that can bring the local Chamber of Commerce crowd to its feet.
An early opponent of ObamaCare, Kasich angered a number of conservatives on the right when he expanded Medicaid.
His response to his critics was, “It’s going to save lives.”
To be sure, Kasich is an unorthodox conservative. He had consistently strong ratings in Congress from America’s leading conservative organizations like the American Conservative Union and 60 Plus.
Nevertheless, he didn’t check in then with the Republican National Committee to get his daily talking points. And he doesn’t’ do so now, either. He knows who he is and what he believes.
An evangelical Christian, whose parents were killed by a drunk driver, Kasich’s empathy for others is one of his strongest qualities. His faith-based initiatives and efforts to combat human trafficking in his state are substantive and sincere.
Since 1964, voters in the Buckeye State have correctly picked the winning presidential candidate in 12 consecutive elections. There’s a reason President Obama went into Ohio 12 times in 2010 to campaign against Kasich. With a record for balancing the federal budget and now, the undisputed economic success of the “Ohio miracle,” it all adds up to trouble for Democrats in 2014 and 2016. National Democrats know that Kasich’s “blue collar Republicanism” is hard to beat.
If the governor does decide to run for president in 2016, his biggest obstacle will be winning the GOP nomination. That’s what the George Soros crowd is banking on.
"Under Kasich’s leadership, Ohio has eliminated the state’s estate tax. Its “Rainy Day Fund” has gone from a mere 89 cents (yes, you read that correctly) in total to $1.4 billion by July 2013.
Ohio’s $5.3 billion income tax cut has been the largest in the nation, with $1.4 billion of that now going to small business entrepreneurs who are leading the way in creating jobs."
http://www.foxnews.com/opinion...d-fears-run-by-ohio/
In the last few years, while America’s attention has been focused on everything from the Facebook IPO, Miley Cyrus’ twerking and the Olympics, something special has been happening in Ohio.
Ohio? Say what?
In economic terms, what’s been happening in Ohio has been hailed by some as the “Ohio miracle.” That’s because, the state’s governor, former Congressman John Kasich is doing for Ohio what he did for America in the late 1990s when he was the last man to balance the federal budget as the chief architect of the Balanced Budget Act of 1997.
Since Kasich became governor, the results of his “Jack Kemp style” economics have made a dramatic difference in the Buckeye State.
Under Kasich’s leadership, Ohio has eliminated the state’s estate tax. Its “Rainy Day Fund” has gone from a mere 89 cents (yes, you read that correctly) in total to $1.4 billion by July 2013.
Ohio’s $5.3 billion income tax cut has been the largest in the nation, with $1.4 billion of that now going to small business entrepreneurs who are leading the way in creating jobs.
Since Kasich became governor, the results of his “Jack Kemp style” economics have made a dramatic difference in the Buckeye State. Here are just a few examples:
-- Over 170,000 new private sector jobs have been created
-- There have been more new businesses created since Kasich took office than at any other time in Ohio history.
-- Incomes in the state are now rising twice as fast as they are across the country
-- The state’s unemployment rate has dropped by 21%.
Kasich, who took a private sector job with Lehmann Bros. after leaving Congress, was part of the business team that took Google public.
As governor, he has offered a shining example, an Economics 101 class if you will, on why the free enterprise system works.
How did we get here?
A little history is in order. In 1995, then-House Speaker Newt Gingrich pushed hard for Kasich to become chairman of the House Budget Committee. He got the post and successfully shepherded the Balanced Budget Act of 1997.
This was a major accomplishment: America’s budget had not been balanced since Neil Armstrong and Buzz Aldrin walked on the moon.
It hasn’t been balanced since.
Fast forward to today: As governor, Kasich is leading the way in calling for a constitutional convention to take the necessary steps to approve a federal balanced budget amendment. Lately, Michigan, Alabama, Louisiana, and Tennessee have joined Kasich’s effort which is supported by 20 states.
Recently, I was speaking to a well respected journalist about possible 2016 GOP presidential contenders AND I and threw out Kasich’s name. He responded, “Oh yes, I’ve done some checking and he’s the one who scares the George Soros and Hillary Clinton crowd the most.” “Why’s that,” I asked. He replied, “They can’t figure out how to beat him in a general election.”
The more I thought about it, the more I realized why the George Soros crowd fears Kasich the most. They can’t demonize him and use the same old worn out liberal playbook they’ve used against national GOP contenders in recent years.
Kasich, the son of a mailman, is also the grandson of Croatian immigrants. He’s a blue-collar Republican who feels as much at home in a bowling alley -- drinking a beer and eating chicken wings – as he does when he gives a rousing speech about entrepreneurial capitalism that can bring the local Chamber of Commerce crowd to its feet.
An early opponent of ObamaCare, Kasich angered a number of conservatives on the right when he expanded Medicaid.
His response to his critics was, “It’s going to save lives.”
To be sure, Kasich is an unorthodox conservative. He had consistently strong ratings in Congress from America’s leading conservative organizations like the American Conservative Union and 60 Plus.
Nevertheless, he didn’t check in then with the Republican National Committee to get his daily talking points. And he doesn’t’ do so now, either. He knows who he is and what he believes.
An evangelical Christian, whose parents were killed by a drunk driver, Kasich’s empathy for others is one of his strongest qualities. His faith-based initiatives and efforts to combat human trafficking in his state are substantive and sincere.
Since 1964, voters in the Buckeye State have correctly picked the winning presidential candidate in 12 consecutive elections. There’s a reason President Obama went into Ohio 12 times in 2010 to campaign against Kasich. With a record for balancing the federal budget and now, the undisputed economic success of the “Ohio miracle,” it all adds up to trouble for Democrats in 2014 and 2016. National Democrats know that Kasich’s “blue collar Republicanism” is hard to beat.
If the governor does decide to run for president in 2016, his biggest obstacle will be winning the GOP nomination. That’s what the George Soros crowd is banking on.
Great post!
This liberal sees much to admire in Kasich. He is smart as a whip. He has a lot of practical ideas. But will he pass the Tea Party test or be branded a RINO by the wingnut extremists? All it will take to "earn" that label will be for Kasich to adopt the "wrong" stance on just one political issue cherished by the Tea Party my-way-or-the-highway crowd.
Kasich is incomparably more suited for the Presidency than such blithering rabble rousers as Ted Cruz or Rick Perry, but those two loose cannons just send a tingle up the legs of Tea Party dingbats and their allies every time they mount the platform and make snide statements about the President. That tactic is the sure key to Tea Party support.