Aren’t you glad that Obama is once again going to “pivot” and focus on jobs now?
He might want to start by reigning in his runaway bureaucracy who are more concerned about carving out fiefdoms than in getting out of the way of job creation:
Sometimes magic tricks just aren’t that great, and even the most innocent, wide-eyed child can’t be fooled by the illusionist’s flourish. Such is the case with the rabbit the White House is trying to pull out of its magic hat by claiming that President Barack Obama’s stimulus has created or saved 2.4 million jobs at a cost of $666 billion, all while the United States continues to suffer 9.1 percent unemployment. If you do the math, that comes out to around $278,000 per job.
That information comes from a White House Council of Economic Advisers (CEA) report released last Friday that desperately tries to maintain the illusion that Obama’s stimulus has saved the day for struggling Americans.
If ever there was an example of the complete cluelessness much of the left commonly displays when it comes to economic matters, the AFL-CIO’s (and Obama advisor) Richard Trumka provides it:
What’s the best way to get Americans back to work?
Raise taxes, according to AFL-CIO President Richard Trumka. Specifically, he wants to raise the federal gas tax as a means to fund infrastructure spending. “We need a dedicated source of revenue to create infrastructure in this country,” he tells Aaron Task in the accompanying clip.
“We need to create jobs. The best way to do that is through infrastructure development.” Simply maintaining the existing infrastructure in this country will cost $2.2 trillion over five years, according to the American Society of Civil Engineers. That doesn’t include Obama’s objective of high-speed rails and green energy projects.
Do you believe Friday’s government report that the unemployment (U.3) rate fell last month from 9.4 percent to 9.0 percent? How could the rate decrease when January only saw a reported increase in payroll employment of 36,000 jobs when some 150,000 new jobs are needed to be created each month just to stay even with population growth?
According to Friday’s Bureau of Labor Statistics report, a 0.4 percentage point decline in the unemployment rate means “the number of unemployed persons decreased by about 600,000.” Where did the other 564,000 January jobs come from as they cannot be found in the reported jobs data?
The jobs are phantom jobs created by faulty seasonal adjustments. As statistician John Williams (shadowstats.com) puts it, “the extraordinary severity and duration of the economic duress in the United States during the last three to four years has destabilized traditional seasonal-factor adjustments and the related monthly reporting.”
If you’re looking for real specifics at tonight’s State of the Union, don’t hold your breath. The White House is billing the president’s annual January appearance in front of Congress much like something you’d hear at an “inauguration,” more atypical than most speeches that turn into political laundry lists.
If Obama’s inaugural address was any indication, expect a lofty oration that’s thin on details and heavy on the soaring rhetoric that helped propel the president into office. But don’t believe the spin that he’s moved to the middle. To win re-election, President Obama will, in true chameleon-like fashion, return to the man we met on the 2008 campaign trail, but only on the outside.
There aren’t many humorous headlines today (another assassination in Pakistan, Illinois on the brink of bankruptcy, the national debt tops $14 trillion — trillion!), but here’s one that brought a smile to my face:
“Obama exhorts Republicans to put politics aside.”
Yes, that’s right: just as he ends his two-week vacation (I think we ought to start calling Obama “President Holiday”: has any president ever taken as many vacations as he?), the leader of the formerly free world is “appealing to newly-empowered Republicans to resist jockeying for the White House in 2012 and work with him to get the economy growing and the jobless back to work.” Ha, ha, ha! Oh, what a card.