By Ric Joyner, MBA, CEBS, CFCI etal
Excerpt from Washington Post with comments. http://www.washingtonpost.com/wp-dyn/content/article/2009/12/13/AR2009121302865_pf.html
“House Democrats will probably move a sizable jobs bill this week. The $70 billion-plus package will include funding for unemployment benefits, food stamps, Medicare and COBRA health insurance, along with separate money for infrastructure and aid to state and local governments.
The Senate’s ability to clear a jobs bill this month remains unclear, as the chamber is preoccupied by the health-care reform debate. But whether it passes in December or January, this will not be the last such package Democrats put forward.”
Commentary: Dr. Christine Romer, the Whitehouse’s Chief Economic Advisor, was on Meet the Press this weekend and said the recession is not over. Larry Summers (former Harvard President which created over a billion dollar deficit for Harvard) said it was clear that “everyone realizes the recession is over”. There will be hell to pay in the Whitehouse, last night or today regarding the unclear message being transmitted. Romer has recently been refreshingly honest in her assessments of the recession before a congressional committee.
As I watch the dance with the Obama administration on the economy and the hot new jobs are in government(!), it is frustrating to see the growth of government, and the private sector saying they are not hiring because of the pending legislation which creates uncertainty and risk, i.e. Cap and Trade, health care, and more deficit spending. Jim Cramer from CNN and Alan Greenspan on Meet the Press Sunday, concurred on the sentiment that business invests in the future when there isn’t risk on the horizon and right now they aren’t investing. This administration has many ideological policies that create confusion and fear of the future which stifles investing. No wonder jobs are slow to appear.
But the House is set to vote on a large spending bill that increases welfare programs such as food stamps and unemployment. Unemployment now can go as long as 99 weeks which is longer than two years! (see article)
I wonder how much of this comes from ideology, and inexperience in running business? For example, I always wondered how the country would do if professors (who teach largely theory) were to ever run the country? Well, now we know. If you look at the Obama Administration from Obama on down, it is staffed with academic advisors.
Final thought. How many billions of dollars has been spent on lobbyists and campaign coffers of members, to defend industries that could be used to put people to work? I watched in the summer 1800 insurance agents fly to Capitol Hill to lobby for their jobs and those of their employees. All of the cost was directly out of small business pockets.