Thanks to everyone who sent responses to the original subject message. Below are four that add to the discussion. A special thanks to Responder #4 who did his own analysis of BO's speech & asks for insight from all of us so please provide your own thoughts in answering his question. I will post your comments for all to see or for those who prefer will send them to him privately. He is asking for help.
---Response #1---
Doug – thanks for specifying very overlooked aspect of BO Job Plan - most of BO jobs will disappear in year or 2. Furthermore it will enlarge our debt and risk economic disaster due to increased reliance on China and Saudi Arabia financing our debt.
The private economy creates most long term jobs which in turn create additional new jobs, companies, and industries. Why? because these jobs meet the supply and demand criteria - they are real and supported by the populace.
And yes – we who champion capitalism must work harder in advocating our positions of economic prosperity principles. Too many Americans have become 'soft' and dependent on welfare and entitlements. This complacency or 'laziness' may be a factor also in the development of a serious obesity epidemic which significantly has increased US health care costs.
I believe we can still regain that mindset of empowerment and that entrepreneurial spirit that created the greatest economic power ever. Those of us who believe in American exceptionalism will not rest until we regain and expand it to new heights.
The private economy creates most long term jobs which in turn create additional new jobs, companies, and industries. Why? because these jobs meet the supply and demand criteria - they are real and supported by the populace.
And yes – we who champion capitalism must work harder in advocating our positions of economic prosperity principles. Too many Americans have become 'soft' and dependent on welfare and entitlements. This complacency or 'laziness' may be a factor also in the development of a serious obesity epidemic which significantly has increased US health care costs.
I believe we can still regain that mindset of empowerment and that entrepreneurial spirit that created the greatest economic power ever. Those of us who believe in American exceptionalism will not rest until we regain and expand it to new heights.
---Response #2---
I was afraid this might happen. New poll by AP shows Americans plenty angry at Congress – Republicans will suffer including Boehner and Tea Party. Many people are willing to accept higher taxes to help bring down deficit. But they do not want government messing with Social Security or Medicare like Ryan proposes on Medicare. People want compromise between the parties. People blame Republicans for not doing it. One good thing – Republicans have a year to improve their ratings with the people.
---Response #3---
Doug - I found your "An Analysis Of BO's Speech" very insightful and of course educational. I also believe nepotism has deteriorated the quality of congressional leadership. Nepotism advances the inferior.
---Response #4 - An Analysis & Request For Insight Re Trade Off Between Jobs & Deficit Cuts---
You have to give BO credit - he is going "all out" for his program and will travel to various states to push it telling people to call their congressmen to support his program. Remember when you give people freebies they will do your bidding.
The #1 issue is jobs - deficits take a big hit - people will support jobs programs and vote down limiting deficits. They will OK large deficits if they are promised jobs. That will be a big problem for Tea Party and Republicans.
Tea Party came in promising to limit deficits. Times have changed since then. More and more people do not have decent jobs & layoffs are increasing. What these people decide to do will have a bearing on the election.
If Republicans & Tea Partiers still want large deficit cuts at the expense of jobs – Republicans have a good chance of losing election.
What are the views of your readership?
BO and socialist leaning Democrats and elite media have huge advantage advocating public jobs and spending programs while downplaying debt reduction.
ReplyDelete1 - Two electorate factors further damage debt reduction
2 - Electorate is used to welfare and entitlements and will very reluctantly relinquish.
Electorate only weakly understands debt finance analyses let alone impact of debt to GDP ratios.
Several economists correctly predicted the 2008 Great Recession few years in advance. One who did is David Weidemer. He has updated his 2010 NY Times bestseller 'Aftershock' with 2nd edition released this Summer. He starts off in 1st chapter :
“We can either experience pain now or significant more pain later. At present we are choosing significant pain later.”
He again presents an exhaustive economics analysis of where we are headed due to our increasing debt.
Very few in the US understand that we are truly playing with fire. Once our foreign creditors start viewing our Treasuries as toxic our economy may enter an unprecedented disaster.
So what should our strategy be?
1 - need strong credible leaders presenting hard facts in understandable ways
2 - bloggers and alternate media are on rise. Let's accelerate impact. Challenge all media elite myths about the economy.
3 - Is politics too controversial with friends, family, coworkers, neighbors? Definitely not now. However focus on economic not political strategies. Discuss hard facts such as public jobs spending create temp jobs which are lost if spending stops thereby mainly increasing deficit. Discuss also risks in financing our debt by foreigners.
4 - prioritize private economic growth policies which will decrease need for cuts. Promote the Fair Tax as a measure to increase jobs and economic growth.
5 - strongly advocate many cuts that can be made before touching entitlements. These include privatizing the PO and Amtrak, eliminating education and energy depts, defense cuts.
6 - advocate oil and gas drilling as way to increase jobs and trade deficit
7 - get involved very strongly in campaigning for the right candidates.
In regards to #4's question on Jobs & Deficits.
ReplyDeleteThere needs to be no increase in any part of the federal government, all depts., agencies etc., ZERO increase. A total Repeal of Obamacare would help tremendously with deficits and restore our constitution. These 2 points will cuts deficits. Be clear on tax policy moving forward and cut tax RATES and physically shrink the structural size of the federal government by closing depts., and agencies that are unconstitutional and where the federal govt was never meant to be involved...this of course is the short version and would need to be more detailed...
The gentleman's comment; "times have changed since then," is simply not accurate. It is simply a continuation of bad economics and politicians looking to get re-elected not knowing or caring if what they say and do has good or bad consequences. This has gone on since ancient times. Obama is just another in a long line of incompetent "leaders."
ReplyDeleteObama does have a problem, he has lost any credibility on the issues of economics, jobs and the national debt. His speech was nothing more than rearranging the words and the same old phrases. Remember the "shovel ready" jobs? Same old, same old.
Simply stated the only job the government can create is…. a government job. It can attempt to provide incentives but in doing so it takes assets from the private sector, and sqaunders them. This is how we end up with bloated inefficent government.
When a private company does this (unless they are anointed "too big to fail in Washington") the only ones hurt are the employees, bondholders and stocholders. When the government follows this course everyone is affected. Right now to the tune of over $14 trillionevery US citizen is being impacted, not to mention being sold out to China and other foreign nations.
The biggest problem for the Republicans are a) They stink at public relations b) too many of them are cowards or inept They allow themselves to be used by Obama and the Dems either through fear or ignorance.
When Obama talks of "sharing the wealth he only gets away with it because the Republicans start having "intellectual discussions" on the topic.
Instead they need to call him, Pelosi, Buffet, Clinton and every other phony out on the "share the wealth" issue. Demand the Dems start "sharing their wealth" and they will clam up.
If the Democrats want to use class warfare, use it against them. Frame the argument. For example demand to know how many houses they own and are they letting "homeless people" stay there? If the answer is no, inquire why not.
Get them on the defensive.
Once you get them to back off, we can then begin to educate the American people on the biggest problem we have, namely the US tax code. Until it is changed, there will be no real job creation.
Until the Republicans learn how to explain economics and their positions, they will continue to be outmaneuvered.