Saturday, September 10, 2011
The 800 Pound Gorilla in the Room: Unemployment
President Obama made another speech on Thursday night. It was another jobs plan to bring the unemployment numbers down before the November 2012 Presidential Election. There was no one that said it that way, of course. But, the latest speech by President Obama was just another campaign speech. I think even the most zealous Obama Cult Member would agree to that. Just like any initiative under this President, it would cost hundreds of billions of dollars.
Of course, these will be mostly government created jobs similar to the Work Programs Administration (WPA) during the Great Depression. Payroll tax cuts will help some private sector jobs, no doubt. But, all in all, this was just more pandering by a President who has run out of big government ideas to jump start employers into hiring again. $50 billion in transportation infrastructure smacks of more handouts to unions. The President has sold his soul to big unions. It is about to bite him on the ass.
At one time, there was a lot in the latest jobs bill that would have garnered bi-partisan support. But, the atmosphere between the Executive branch and Legislative branch is so poisonous, even Democratic Congressmen were less than enthusiastic in their support of President Obama's job plan. Of course there is another $49 billion to expand unemployment insurance. Nancy Pelosi is keeping quiet this time. She did say that unemployment checks would help the economy. This is what we have for leaders in this day and time. We have a President who is obsessed with getting reelected, a Congress that is obsessed with protecting their own turf and an American public that is disgusted with both. Unemployment is a political gorilla that is not going away anytime soon. Our so-called political leaders have to deal with this problem. There is no excuse for there to be 13-15 million unemployed Americans unable to find work. This is a failure of leadership. It is a failure of direction by both parties.
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