Just a few quick thoughts on Obama's American Jobs Act.
From the LA Times: Obama spoke against a backdrop of teachers, construction workers, veterans and police officers--a visual tableau meant to reinforce his point that partisan politics should not intrude on efforts to revive the slumping economy.
“This is a bill that will put people back to work all across the country,’’ the president said. “This is a bill that will help our economy in a moment of national crisis. This is a bill based on ideas from both Democrats and Republicans. And this is a bill that Congress needs to pass.”
The public employee unions were well represented as supporting Obama’s Bill. Where were the retailers and manufactures? If retailers and manufactures can support it, then maybe it has a chance.
The fact remains that the Bill will create mostly temporary construction jobs. This Bill strongly resembles the American Recovery and Reinvestment Act of 2009 that spent BILLIONS of borrowed dollars to invest in “shovel‑ready projects”. The City of
had just one of these shovel-ready projects. The City spent $2.2-million to replace irrigation at the privately operated municipal golf course. I can only imagine the waste sure to come from this latest bill. Fullerton
From CBSNews.com: Obama asserted that his bill "is fully paid for." He said he will lay out a plan for deficit reduction that he says will cover the cost of his jobs bill and bring down the deficit further. Before Congress last week, he said he expects the so-called congressional "super committee" -- already tasked with finding at least $1.2 trillion in deficit savings -- to adopt some of the measures he'll propose to pay for the bill.
“FULLY PAID FOR”
Are you kidding? Does anyone really believe that the Bill is actually paid for? And who pays for everything the government does? WE DO! Taxpayers like me and my neighbors.
A business associate made a very astute observation: Let’s fire all of our union employees which would dissolve the current labor agreement, then hire everyone back as part-time non-union employees. With Obama’s proposed tax incentives, it would give many companies a reason for firing their workforce and a reason to hire non-union labor. All of the workers would be offered minimum Obama Care and the companies could get out of paying the union $10p/h per employee.
The Bill’s Truth (from the White House)
· 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. (Op-Ed: Obama taking care of the public employee unions)
· 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. (Op-Ed: More public employee union support)
· 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. (Op-Ed: Largely, these are temporary jobs.)
· 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. (Op-Ed: Ok, here it is… the Federal Redevelopment Agency – more on this later)
· Expanding access to high-speed wireless as part of a plan for freeing up the nation’s spectrum. (Op-Ed: Who controls the data stream? Feds? Which agency? Under what criteria?)
What will we do when we have rehabilitated all of our roads and utility systems? Where will the workers go?
Service jobs are only part of the answer, not the solution. The solution is simple: the
must manufacture products for sale, export, and consumption. United States