November 9, 2011
Jobs Created by the Stroke of a Pen
By Bill Tatro
11/8/2011
When it comes to jobs, it all comes down to this: For years, we all thought it was small business that was the heart and soul of the U.S. economy.
Most people understood that it was the private sector that created the real jobs – sustainable jobs that were the building blocks for people’s lives, and consequently, the foundation for our country’s solid future.
Then, along comes Barack Obama, who firmly, and I am ardently convinced, believes the public sector is the real job creator.
Everything from shovel ready to green energy has been tried by this administration in order to change the path of rising unemployment, to no avail.
Now, however, the truth can be told.
The real job creator is neither the public nor the private sector.
Rather, the real job creator is a single bean-counter who works in a small room with a green eyeshade pulled over his head at the Bureau of Labor Statistics (BLS).
He’s the person who overlays the Birth/Death (B/D) statistics on all monthly jobs reports. Most people think the B/D is simply a measurement of how many workers lived or died during the month.
In reality, the B/D is the approximate number of new businesses created with new employees netted against the businesses that closed and the people who lost their jobs. This statistic is overlaid against the actual number of workers either hired or fired. During prior administrations, this B/D number was plus-or-minus a few thousand.
The Obama administration has taken the B/D to an entirely new art form, with the plus-or-minus becoming hundreds of thousands.
It seems they thought nobody would notice, and guess what?
They were right.
The latest monthly jobs report shows 80,000 new jobs created.
The Birth/Death overlay was plus 103,000, which means the country actually lost 23,000 jobs.
But have no fear, with a phantom jobs report nobody really noticed, least of all the mainstream media.
Thus, when books are written about this chapter in American history, recognition for job creation will not be given to the small or large business entrepreneurs, nor the President or his political cronies.
Rather, all the praise will be given to that diligent, ever-present bureaucrat, who, with a wave of his magic pencil created 42% of all jobs reported in 2011.
Hallelujah!
Thank goodness for the BLS and the Birth/Death model.
It may not be real, but it sure looks good on paper and it certainly sounds great on the nightly news.
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Bill is the host of of It's All About Money, a daily financial radio show, and Columnist for Townhall.com.
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Showing posts with label Obama Jobs Created. Show all posts
Showing posts with label Obama Jobs Created. Show all posts
Wednesday, November 9, 2011
Tuesday, September 20, 2011
Why Do African-Americans Keep Voting For Democrats?
At a loss for anything but spending money on unions and government jobs, Obama has no ability to reduce the African-American unemployment rate. Under Obama, black unemployment hit a 27-year high last week. And yet Blacks blindly keep voting for Democrats!
Here's a suggestion that Obama can do to help black male unemployment: Expand the NBA to 5,000 teams.
Thanks to Ron Hart for contributing these thoughts.
DISCLAIMER -- WARNING! The ad for Obama which may follow this post is no way an endorsement of BO by this Blog. We have no say as to the content of the advertising inserted herein, and the BO ad is a reflection of the audacity and stupidity of him and his re-election team.
We consider him to be a bigger liar than Clinton, fundamentally dishonest, and crippling to our economy; he has exacerbated racial tensions, inflamed partisan divisiveness, encouraged class warfare and demonized everyone on the right--especially members of the Tea Party Patriots.
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Here's a suggestion that Obama can do to help black male unemployment: Expand the NBA to 5,000 teams.
Thanks to Ron Hart for contributing these thoughts.
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DISCLAIMER -- WARNING! The ad for Obama which may follow this post is no way an endorsement of BO by this Blog. We have no say as to the content of the advertising inserted herein, and the BO ad is a reflection of the audacity and stupidity of him and his re-election team.
We consider him to be a bigger liar than Clinton, fundamentally dishonest, and crippling to our economy; he has exacerbated racial tensions, inflamed partisan divisiveness, encouraged class warfare and demonized everyone on the right--especially members of the Tea Party Patriots.
,
Tuesday, August 23, 2011
GE AND CHINA: MORE OBAMA LEADERSHIP FAILURE
Today's New York Times reports that as China strives for leadership in the world’s most advanced industries, it sees commercial jetliners — planes that may someday challenge the best from Boeing and Airbus — as a top prize. And no Western company has been more aggressive in helping China pursue that dream than one of the aviation industry’s biggest suppliers of jet engines and airplane technology, G.E.
On Friday, during the visit of the Chinese president, Hu Jintao, to the United States, G.E. plans to sign a joint-venture agreement in commercial aviation that shows the tricky risk-and-reward calculations American corporations must increasingly make in their pursuit of lucrative markets in China.
G.E., in the partnership with a state-owned Chinese company, will be sharing its most sophisticated airplane electronics, including some of the same technology used in Boeing’s new state-of-the-art 787 Dreamliner.
For G.E., the pact is a chance to build upon an already well-established business in China, where the company has booming sales of jet engines, mainly to Chinese airlines that are now buying Boeing and Airbus planes. But doing business in China often requires Western multinationals like G.E. to share technology and trade secrets that might eventually enable Chinese companies to beat them at their own game — by making the same products cheaper, if not better.
The other risk is that Western technologies could help China play catch-up in military aviation — a concern underscored last week when the Chinese military demonstrated a prototype of its version of the Pentagon’s stealth fighter, even though the plane could be a decade away from production.
The first customer for the G.E. joint venture will be the Chinese company building a new airliner, the C919, that is meant to be China’s first entry in competition with Boeing and Airbus.
In addition, General Electric is planning to move its 115-year-old X-ray division from Waukesha, Wis., to Beijing. In addition to moving the headquarters, the company will invest $2 billion in China and train more than 65 engineers and create six research centers. This is the same GE that made $5.1 billion in the United States last year. but paid no taxes-the same company that employs more people overseas than it does in the united States.
So let me get this straight. President Obama appointed GE Chairman Jeff Immelt to head his commission on job creation (job czar). Immelt is supposed to help create jobs. I guess the President forgot to tell him in which country he was supposed to be creating those jobs.
If this doesn't show you the total lack of leadership of this President, I don't know what does.
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On Friday, during the visit of the Chinese president, Hu Jintao, to the United States, G.E. plans to sign a joint-venture agreement in commercial aviation that shows the tricky risk-and-reward calculations American corporations must increasingly make in their pursuit of lucrative markets in China.
G.E., in the partnership with a state-owned Chinese company, will be sharing its most sophisticated airplane electronics, including some of the same technology used in Boeing’s new state-of-the-art 787 Dreamliner.
For G.E., the pact is a chance to build upon an already well-established business in China, where the company has booming sales of jet engines, mainly to Chinese airlines that are now buying Boeing and Airbus planes. But doing business in China often requires Western multinationals like G.E. to share technology and trade secrets that might eventually enable Chinese companies to beat them at their own game — by making the same products cheaper, if not better.
The other risk is that Western technologies could help China play catch-up in military aviation — a concern underscored last week when the Chinese military demonstrated a prototype of its version of the Pentagon’s stealth fighter, even though the plane could be a decade away from production.
The first customer for the G.E. joint venture will be the Chinese company building a new airliner, the C919, that is meant to be China’s first entry in competition with Boeing and Airbus.
In addition, General Electric is planning to move its 115-year-old X-ray division from Waukesha, Wis., to Beijing. In addition to moving the headquarters, the company will invest $2 billion in China and train more than 65 engineers and create six research centers. This is the same GE that made $5.1 billion in the United States last year. but paid no taxes-the same company that employs more people overseas than it does in the united States.
So let me get this straight. President Obama appointed GE Chairman Jeff Immelt to head his commission on job creation (job czar). Immelt is supposed to help create jobs. I guess the President forgot to tell him in which country he was supposed to be creating those jobs.
If this doesn't show you the total lack of leadership of this President, I don't know what does.
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Monday, July 4, 2011
Each Job ‘Saved or Created’ by the Stimulus Cost taxpayers $278,000 (So Far)
Jeffrey Anderson at the Weekly Standard pointed out, the White House releasing a fiscal report on the Friday before a long holiday weekend can only mean one thing: There’s not much good news in it for the White House, and, ergo, taxpayers. Such is the case with the White House Council of Economic Advisors’ seventh quarterly report on the impact of the “stimulus”:
Over ten years, the CBO says the stimulus will raise the federal deficit $830 billion — $43 billion more than originally estimated.
Which brings us to President Obama’s weekly address:
To steal a line from a military recruiting campaign years ago, “it’s a great place to start” — but unfortunately the painfully obvious options never seem to be on the table.
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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.Mind you these are Obama’s own economists, so the report is like an employee’s performance evaluation that was filled out by the employee. The absolute truth is probably much more bleak.
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.
Over ten years, the CBO says the stimulus will raise the federal deficit $830 billion — $43 billion more than originally estimated.
Which brings us to President Obama’s weekly address:
Now, it would be nice if we could keep every tax break, but we can’t afford them. Because if we choose to keep those tax breaks for millionaires and billionaires, or for hedge fund managers and corporate jet owners, or for oil and gas companies pulling in huge profits without our help — then we’ll have to make even deeper cuts somewhere else. We’ve got to say to a student, ‘You don’t get a college scholarship.’ We have to say to a medical researcher, ‘You can’t do that cancer research.’ We might have to tell seniors, ‘You have to pay more for Medicare.’Or how about we say to the White House, “You don’t get to spend the remaining $164 billion earmarked for a ‘stimulus’ that is clearly a failure.”
To steal a line from a military recruiting campaign years ago, “it’s a great place to start” — but unfortunately the painfully obvious options never seem to be on the table.
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Thursday, June 30, 2011
SHOVEL READY STIMULUS SPENDING WAS JUST A JOKE TO IDIOT OBAMA
Here's what Obama felt about the wasted stimulus money that was to 'kick-start' the economy, keep unemployment below 8% and prevent workers from losing their homes.
According to a report released last August by two Republican Senators, these are just a few of the questionable projects being funded with money from President Obama's $862 billion dollar economic stimulus package.
Among the projects singled out for criticism in the report:--A half million dollars for new windows at the Mt. St. Helens visitors center in Amboy, Washington. The building has been closed since 2007 and there are no immediate plans to reopen it.--$6.9 million dollars for repairs to an 1846 brick fort marooned on Dry Tortuga at the end the Florida Keys. Few people can visit this remote national park unless they hire a seaplane or take a four-hour round-trip boat ride. --Creating a museum in an abandoned train station in Glasboro, NJ, at the cost of $1.2 million.--$2 million dollars to send researchers from the California Academy of Sciences to islands in the Indian Ocean to study exotic ants.--A study of dog domestication at Cornell University with a price tag of $296-thousand dollars.--$141-thousand dollars to send students from Montana State University to China to study dinosaur eggs.--$762-thousand dollars to create interactive choreography programs at the University of North Carolina. Dancers would wear electronic monitors to analyze their movements. --$89-thousand dollars to replace sidewalks in Boynton, Oklahoma that were just replaced five years ago. One of them goes nowhere near any houses or businesses and leads directly into a ditch. Coburn and McCain claim these and other projects are misconceived and mismanaged, while creating few, if any, new jobs.
Here's the Liar-in-Chief in his own words campaigning on how the Stimulus Plan would benefit taxpayers...followed up by the real truth.
And here is a brief summary of where the money really went and how it was spent.
This idiot of a President should be impeached and jailed for perpertrating a fraud on American citizens.
According to a report released last August by two Republican Senators, these are just a few of the questionable projects being funded with money from President Obama's $862 billion dollar economic stimulus package.
Among the projects singled out for criticism in the report:--A half million dollars for new windows at the Mt. St. Helens visitors center in Amboy, Washington. The building has been closed since 2007 and there are no immediate plans to reopen it.--$6.9 million dollars for repairs to an 1846 brick fort marooned on Dry Tortuga at the end the Florida Keys. Few people can visit this remote national park unless they hire a seaplane or take a four-hour round-trip boat ride. --Creating a museum in an abandoned train station in Glasboro, NJ, at the cost of $1.2 million.--$2 million dollars to send researchers from the California Academy of Sciences to islands in the Indian Ocean to study exotic ants.--A study of dog domestication at Cornell University with a price tag of $296-thousand dollars.--$141-thousand dollars to send students from Montana State University to China to study dinosaur eggs.--$762-thousand dollars to create interactive choreography programs at the University of North Carolina. Dancers would wear electronic monitors to analyze their movements. --$89-thousand dollars to replace sidewalks in Boynton, Oklahoma that were just replaced five years ago. One of them goes nowhere near any houses or businesses and leads directly into a ditch. Coburn and McCain claim these and other projects are misconceived and mismanaged, while creating few, if any, new jobs.
Here's the Liar-in-Chief in his own words campaigning on how the Stimulus Plan would benefit taxpayers...followed up by the real truth.
And here is a brief summary of where the money really went and how it was spent.
This idiot of a President should be impeached and jailed for perpertrating a fraud on American citizens.
Friday, May 27, 2011
QUIT LYING OBAMA AND TELL US HOW BAD THINGS REALLY ARE UNDER YOUR REGIME!
Reuters reports today that pending sales of existing U.S. homes dropped far more than expected in April to touch a seven-month low, a trade group said on Friday, dealing a blow to hopes of a recovery in the housing market.
The National Association of Realtors Pending Home Sales Index dropped 11.6 percent to 81.9 in April, the lowest since September. Pending home sales lead existing home sales by a month or two. Economists polled by Reuters had expected pending home sales to fall 1.0 percent.
Friday, December 10, 2010
OBAMA'S STIMULUS PLAN CREATING JOBS
I think we should lighten up on President Obama.
Just a few weeks ago he got jobs for 63 Republicans.
Just a few weeks ago he got jobs for 63 Republicans.
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