Yes, I have a big problem with Obama's "Jobs Plan" proposal. It's mostly nonsense. It couldn't be clearer that he and his advisors have no clue how the private sector works or what makes for a strong economy. Don't they teach economics at Harvard? Nearly all of his proposals are ineffective putting real life back into a stalled economy. His $800 Billion stimulus took almost exactly the same approach. How has that worked out for you America?
Here are just some of my issues with his proposals.
Extend the 50% payroll tax cut for employees and now include employers' share. Do you even know what this tax pays for? It's what pays for Social Security and Medicare. Do you really think it's a good idea to cut entitlements' source of funds by half when those programs are facing insolvency and the cost of them is about to bankrupt the country? Cutting funds to Social Security and Medicare in half is simply knuckleheaded. It's extraordinarily short-sighted but that's how this administration operates. Yes, it'll help employers create jobs for the year or so it's in effect. Then we'll have to figure out a way to fix the damage it's going to do to entitlements. Do something to help get re-elected today that makes our problems worse down the road. Stupid!
A huge boost in government spending on infrastructure. Those would be the shovel-ready jobs that were not and cannot be created quickly. (Have you forgotten the 'shovel-ready jobs' nonsense that sensible people knew weren't shovel ready at all?) Besides, government is, by far, the most inefficient at doing things like this cost-effectively. Much better to give private businesses capital gains tax cuts and let them use the money saved to create jobs. By the way, this is also a temporary fix. The extent of our current problems indicate longer-term solutions are needed.
This spending IS paid for he said. That's so far from the truth I don't know how he didn't choke on his words. It's not paid for people!!! Paying for it by telling the Jobs Super-Committee they have to come up with another Trillion dollars in savings means we'll borrow the money now (from China!) and it will be paid for later over the next ten years. I said, later! Saying it's paid for as if it's not actually borrowed and adding to our debt is a bald-faced lie! Also, do you remember the difficulty congress had in getting more savings done than what they've already planned? They said it wasn't possible to come up with more sooner. Now the president tells them to increase it anyway?!?! Does the president talk with congress, even his own party's members? Apparently not! "You must pass this right away!", he told congress some 17 times. Easy for him to say, eh? Anyway, the important thing to understand is that Obama must borrow more money to pay for his jobs spending proposal. He commissioned the super-committee to find some way to pay down a small portion of our current debt... over the next ten years ... and now Obama's adding his new spending to what they were already planning to cut. It's a LIE to say his new spending is paid for!!! It might be paid for (ten years from now!) but only if the super-committee can figure out how to do something they've already said they couldn't do. Is that nonsense or what?
Enact trade agreements with South Korea, Panama and Columbia. The trade agreements should be a good thing but to the extent they help create jobs here, that won't happen to any significant extent for several years. There are whole bureaucracies, policies and 'rules' needing to be put into place before any such new trading can even begin. By the way, these are the same trade agreements that were sitting on his desk his first day in office. Remember that back in July President Obama publicly harangued Republicans(!) for not passing those very agreements but we found out later (although you never heard the sold-out-to-liberals press report this) that he hadn't sent them to congress yet ... after 2 1/2 years of sitting on them!!! He's saying those trade agreements are important for jobs but he sat on them for 2 1/2 years!!! Talk about hypocrisy and nonsense! Why did he sit on them? Because he didn't think any Democrats would vote for them!!! Why won't Democrats vote for them? Because they're holding them hostage until Republicans first approve the Trade Adjustment Assistance (TAA) legislation. Why do Republican not want that? Because the CBO estimates it'll add $3 Billion to our debt over the first 5 years. Democrats have been holding Obama's trade agreements hostage to get debt-increasing legislation passed!!! How's THAT for partisanship that most liberals think only Republicans practice?
Here are some other comments about Obama's Jobs Plan fyi:
http://www.nationalreview.com/articles/276815/tiny-targeted-and-temporary-larry-kudlow
http://www.nationalreview.com/articles/276731/got-jobs-nro-symposium
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