I’ll take that check, please

From the WeeklyStandard.com:

When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.

In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.

Krauthammer: middle-aged maybe never work again

From RealClearPolitics.com:

“The problem is at the consumer level, confidence is low and that is because, as you showed, showed we had underemployment with one out of every six Americans. The worst element of that is that among the unemployed, against the American history, more than approaching half, have [been] unemployed for over six months. That is historically unprecedented in the United States. That is a phenomenon that is seen often in Europe, rarely seen here. In 2007 the average time to get a new job was five weeks. It’s now near six months. And that implies a whole segment of the population, the more elderly or the middle-aged who may never get employed again,” Charles Krauthammer said on FOX News this evening.

The mentally ill liberal

As I posted yesterday, an additional 150 people are now unemployed in Las Vegas, primarily because charitable donations are down. Those wealthy individuals and corporations no longer have the tax breaks and just like the rest of us, they are feeling the hit of this horrible economy we are in.

The statist’s answer to our problems is to tax the rich MORE. But it should be now proven to every one that it has a devastating effect on the economy and the employment sector. When Boyd Gaming or Harrah’s stop donating a wing or a floor to institutions like Nevada Cancer Institute or Adleson Hospice, people start losing jobs and no one is being hired.

The wealthy are the job creators. Why is that so hard to understand? And how many more episodes like this one, nationwide, do the statists need to create before they get it? The less money the rich spend – or have to spend – the fewer cabbies, cooks and hotel housekeepers there are; the fewer nurses, back office people, lab techs and administrative assistants facilities like NCI employ.

What I find amazing is that the wealthy liberal left and right coasters – the elite, the ruling class, the academicians, the Hollywood “stars” – want more taxes on profitable (or once profitable) corporations, while at the same time, they are spending less and less money themselves.

This is why I believe that liberals suffer from mental illness: they keep doing the same things over and over, they keep doggedly following the same failed philosophy and never learn that it’s just NOT working.

 

Updated: Wish me luck

I have a job interview today.

I got the job!