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The Obama Jobs Plan: 10 Reasons Why It Is A Bad Joke

So that was what we have been waiting for?  That was what all the hype was about?  With a little over a year until the next election, that was the "best shot" that Obama has for fixing the unemployment crisis in this country?  The Obama Jobs Plan (also now known as "the American Jobs Act") is going to cost $447 billion and it is going to do next to nothing to create more jobs.  Many Americans were hoping for something bold and new from Obama, but instead what they got was a bad joke.  When Obama stated that there is "nothing radical in this bill", he was not kidding.  Instead of addressing the fundamental issues that are causing job loss, Obama wants us to spend half a trillion dollars on measures that will only create a very small number of jobs.  Sadly, much of what Obama is proposing actually consists of huge bribes to middle class voters.  Obama is trying to keep his own job, and he appears willing to pile up even more debt in order to make that happen.

During his speech to the nation, Obama instructed Congress to either "pass this jobs bill" or to "pass it right away" 16 different times.  Obama obviously feels very strongly about his jobs plan.

But will it work?  Let's take a few moments to break it down.  The following are 10 reasons why the Obama jobs plan is a bad joke....

#1 The payroll tax cuts are going to cost more than anything else in the plan, but they will do very little to create jobs.

Just take a look at what is happening right now.  Have the current payroll tax cuts done much?  No, the unemployment rate is still over 9 percent.

Yes, the new payroll tax cuts would be deeper and they would put some more money into the pockets of American workers.

But if American workers go out and spend it on stuff made in China, how does that create more jobs for American workers?

Businesses would certainly welcome the fact that their payroll taxes would be cut, but it probably will not entice many of them to hire more people.

Why?

Because they know that the tax cut would only be temporary.  After just a handful of months the payroll tax would go right back to where it was before.

Businesses are not often moved by temporary tax cuts.  If you want tax cuts to really move business, then you need to make them permanent.

So does that mean that I am against these payroll tax cuts?

Absolutely not.  I very much hope that payroll taxes get cut.  I am all in favor of the government taking as little money from me as possible.

Look, if the federal government is going to destroy our financial system anyway, I would much rather keep as much of my own money in my own pockets as possible.

So yes, I am all in favor of payroll tax cuts.

But no, those cuts are not going to do much to create jobs.  If payroll tax cuts were going to create a lot more jobs we would already see it happening.

However, if this is passed it will be a great bribe to voters because millions of Americans will see their paychecks go up and when that happens they will think of Obama.

#2 Obama's plan to extend unemployment assistance is going to cost about $49 billion but it is not going to do much to create any jobs.

Back in 2009, Congress first authorized an extension of unemployment benefits to a maximum of 99 weeks.  Five times since then Congress has reauthorized this extension.

So has this made a huge difference in the number of unemployed?

Of course not.  If it was going to make a huge difference it would have done so already.

Yes, these extended benefits are easing the suffering of those that are out of work, and yes they are giving them a little extra money to spend, but let's not pretend that extending unemployment benefits is going to create a whole bunch of new jobs.

#3 Obama is proposing $50 billion in "immediate" infrastructure spending and $10 billion for a new infrastructure bank that will be dedicated to raising private capital to finance infrastructure projects around the country.

Hopefully this will work out a whole lot better than the "shovel ready" jobs that Obama promised previously.

Yes, infrastructure all over this country is rapidly falling apart.  Yes, it is a legitimate function of government to invest in public infrastructure.

But no, this is not going to create a ton of new jobs.  It will create a few jobs, but it will also add to our rapidly growing national debt.

#4 According to the fact sheet on the jobs plan released by the Obama administration, direct financial aid to state governments will prevent up to 280,000 teacher layoffs, and it will also help states retain more police and firefighters.

Essentially, this is a "backdoor bailout" for the states.  Yes, it will be a good thing if teachers, police and firefighters are able to keep their jobs.  However, preventing job losses is not the same as creating new jobs.  So this may help reduce the bleeding a little bit, but it is not going to turn the overall employment situation around.

#5 There are a bunch of other minor things in Obama's proposal such as "modernizing" public schools and helping more Americans refinance their mortgages, but it is not entirely clear how those things will help create a lot more jobs.

Meanwhile, there are a whole lot of things that the Obama jobs plan does not do....

#6 The Obama jobs plan does next to nothing to prevent jobs from being shipped out of the country.

As I wrote about the other day, right now the way the system is designed makes it highly profitable to send American jobs overseas....

*It is legal to pay slave labor wages in many of these other countries.  After all, why pay an American worker 10 or 20 times as much as a worker on the other side of the globe?

*In many of these other countries you do not have to provide any health care for workers.

*In many of these other countries there are virtually no environmental controls to worry about.

*In many of these other countries there are virtually no labor standards to worry about.

*In many of these other countries you only have to deal with a fraction of the "red tape" that you have to deal with in the United States.

Obama is doing absolutely nothing to address these imbalances.

#7 The Obama jobs plan does nothing about the unfair trade practices that are absolutely killing America on the global economic stage.

As I wrote about the other day, other nations are manipulating currency rates, they are openly stealing technology from our companies, they allow their workers to be paid slave labor wages and they put up huge barriers to goods and services from the United States and we let them get away with it.  Our trade policies are absolutely insane, and the way that the new "global economy" is structured guarantees that U.S. businesses are going to be operating at a huge disadvantage.  The following are just a few more of the reasons why foreign firms have a huge advantage over U.S. companies....

*Many foreign nations deeply and directly subsidize national industries and the U.S. government lets them get away with it.  That puts our industries at a vast disadvantage.

*The United States has the highest corporate tax rate in the world.  That puts our corporations at a vast disadvantage.

*Many foreign nations do not require businesses to provide health care for their employees.  That puts our businesses at a vast disadvantage.

*Many foreign nations impose very little regulation on businesses.  That puts businesses in the United States at a vast disadvantage.  In the U.S., we have some of the most restrictive regulations in the world.

In 2011 we are going to end up with a trade deficit that is probably going to be well in excess of half a trillion dollars.  According to one estimate, if the trade deficit was totally eliminated it would create 8.4 million new jobs inside the United States.

So why isn't Barack Obama proposing to do something about all of this?

#8 The Obama jobs plan does nothing about the gigantic mountains of ridiculous regulations that are absolutely killing small business in this country.  According to the Heritage Foundation, 75 new major regulations that have cost U.S. businesses more than 40 billion dollars have been passed since Barack Obama first took office.

The Federal Register (which contains all federal regulations) just keeps exploding in size.  Last year alone, 81,405 new pages were published in the Federal Register.

Right now there is a good chance that you are breaking dozens of federal regulations without even knowing it.

All of this regulation is crushing our businesses and is making us much less competitive in the global marketplace.

Yes, there will always be a need for common sense regulations on business activity.  But what we have right now is an absolute madhouse.

#9 The Obama jobs plan does nothing about the negative effects of Obamacare.  Obamacare is going to absolutely slaughter U.S. businesses.  Look, when most other nations do not burden their businesses with providing health care and we force our businesses to comply with the nightmare that Obamacare represents, who do you think has the advantage?

The other day, I noted some of the effects that Obamacare is already having on the U.S. business community....

According to a recent report from the National Federation of Independent Business, one out of every eight small businesses in the United States have either already had or expect to have the health insurance plans for their employees terminated by the health insurance companies because of Obamacare.  Another recent survey of mid-size and large businesses found that nearly ten percent of them plan to stop offering health insurance coverage to workers once Obamacare insurance exchanges begin in 2014, and another 20 percent are not sure if they will continue to offer coverage or not.  Our health care system is deeply broken and the ones that keep getting the short end of the stick are average Americans.

If Obama was serious about putting Americans back to work, he would do something about Obamacare.

But he is not going to do that, is he?

#10 The Obama jobs plan makes our national debt worse.  Yes, Obama insists that his plan will be "100%" paid for, but he has not told us how it will be paid for.

Exactly where in the world is he going to get an extra half a trillion dollars next year?

Obama probably intends to propose some tax increases that he knows that the Republicans would never, ever agree to.

So, no, Obama's proposals will not be paid for.

The U.S. national debt has increased by more than 4 trillion dollars since Barack Obama took office.  It is currently increasing by more than 2 million dollars per minute.

We cannot afford to pile huge amounts of additional debt on to the backs of our children and our grandchildren.  What we have already done to them is deeply, deeply criminal.

In the end, some of Obama's proposals will probably get passed, none of them will be paid for, our debt will get even bigger, and the fundamental reasons for our job losses will remain unaddressed.

So hopefully you can understand why I consider the Obama jobs plan to be a really bad joke.

Tonight, millions of Americans will be sleeping in seedy motels, in their cars or in tent cities.

Just check out these pictures from New Jersey.  Can you believe that some hard working Americans actually have to live like that?

We had the greatest economy that the world has ever seen.

Things did not have to turn out this way.

But they did.

Now Obama has come up with a "plan" that will not fix any of our fundamental problems but that will get us into a whole lot more debt.

Please excuse me if I am less than thrilled.

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  • Lumi

    Was anyone around during the late 70′s when the price of gold ran up to $900/oz? Was there talk of collapse back then, I mean there must’ve been some catalyst going on that would launch gold like that.
    How did they eventually fix it? Was this only a US economic thing?
    Any input would be great.

  • Lennie Pike

    GameOverYouLose:

    I apologize for being critical of how you used the word “settle” instead of “sets” – only.

    I did not see your first post where it was clear that you are not an American. Many Americans have that punk Che Guevara as a hero also, but the Spanish you used made it clear that you are not an American – you must be Puerto Rican – you should speak English perfectly but don’t (only close), and you should be loyal to the U.S. due to all of the welfare you have received, but bite the hand that feeds you instead – the same attitude of all punks that hold the punk Che Guevara as a hero.

    Not all Puerto Ricans have this attitude of course, but a minority does – why, I have no idea.

    I also apologize if you’re not Puerto Rican, but you are, aren’t you?

  • Concerned

    President Obama did not create the economic conditions that he inherited. He is trying to stimulate the economy. Everything can not be fixed right away, but starting with putting more money in taxpayers pockets especially the middle class who represents America because of consumerism will help.
    What consultants like yourself should do is to write about big business, the very wealthy and how they do business. earnings in oversea banks or create corporations in other countries that does not really create any employment. Address that. Why does large corporations send all their
    production to countries like China and India or Asia in general so that they can make bigger profits? And, What does the Chinese do, copy and laugh all the way to the bank.
    Yes they are sitting on trillions of American dollars. Why does the elite need to create another currency instead of concentrating on building the American dollar.

    What is the problem with a country who creates more of the world wealthiest people but whose country is in dire straits. Address that.
    Create a dialogue.

    Thank you,

    “There is no darkness like ignorance.”

  • Colin

    Michael,

    I was browsing Huffingtonpost.com when I came across this article. The manufacturers, like Proctor & Gamble, are concentrating their efforts into creating luxury and bargain lines of products. Products for the middle class are receiving far less attention. If we need one more sign that our middle class is vanishing, this would be it.

    http://www.huffingtonpost.com/2011/09/12/income-inequality_n_958472.html

    • Michael

      Good one Colin!

      Michael

  • Handog

    Mondo…Wow, I recall wiping the sleep out of my eyes with a cup of coffee. The images seemed surreal. I had so much work planned for the day and a two year old daughter to raise. I shot out the door not to be late for work. Now, the house is gone and nearly everything that was in it. Seems silly now to be in such a rush. I see it all much clearer now. The American dream is a hoax.

  • onecansay

    Even though I try not to watch much squawk box, The Usurpers’ head does have some resemblance to Stuie on ‘Family Guy’. We all know he will grow up to be some sort of psychopath.

  • Ms. Wiseman

    Even the Israelites in Egyptian bondage paid less tax than we do (20%) and by the way that word bondage actually means “laborers” in the KJV. Way past time to stop crying to the GUBMINT to save us – they can’t and they won’t. Economic freedom is when you do for self. Jobs means slavery. Get rid of all these ridiculous regulations so that you and I can work as independent contractors, small mom and pop shops like the Amish, we can then hire our own family members and those from our own communities – that’s rebuilding America from the ground up. As it stands laws on the books prevent even little Timmy from operating a lemonade stand, or grandma from selling the vegetables she grows in her own backyard. Get a license to run your own business? Insane! Just a money making scheme. They want you to depend totally on them. Stupid HOA rules prevent home owners from selling goods from their own homes (you don’t own your homes anyway). Run to gubmint bureaucrats to solve your problems means giving away your God-given power. Try getting that power back – they won’t give it up without a revolution. The more laws you have, the more crime you will have. Here is your solution: take a moratorium on running to gubmint to fix things; let the system die its slow agonizing death; prepare yourself and your loved ones as much as you can because it’s going to be a painful death; cut spending, save as much as possible (outside the US if possible); learn a skill that can earn you money; by all means don’t trust banks; network with others of a like mind; have an escape route to another country if possible – that means getting those passports up-to-date because you know they are going to lock down any possibilities of you getting out of the country. You don’t think Pharoah will willingly let his tax base go, do you?

    Whoever said it above was right… the system is working as planned – to purposely crash America’s economic system and set up a New World Order to replace the old New World Order. How can you not see it? This has all happened before. So long as you dumbed-down, worker drones elect to have a mere man rule over you, you will see your wealth disappear from your hands and into theirs.

  • http://economiccollapse Dang

    447 billion yes he could easly fix the job problem with this amount of money. An have the unemployment coming back down 5-7% are with in a year. Only if he would take this money an put it in the banks across the united states. So they could lend it ouit to the american people. Thus banks having a 10 to 1 leverge they can loan out. This would be 447 billion times 10, alot of loan money. Problem solved. Or he could do this even better, Have a buy out of social secerity or even a loan on some of the money we paid in. The american people would love it. 447 biullion x time goes along way

  • Lennie Pike

    Why would they give to banks to lend to us when their goal is to destroy the U.S.?

  • Ronnie

    How to save America. Return all US business interest back to the US…or Tax the Banksters to death. They have a choice FULL TAX UP FRONT or return home and not more multi million dollar bonus bullshit.

  • jeff198524

    If you want to protect your finances buy gold, silver and invest in gold and silver mining stocks. For food, grow a garden, learn to can, hunt, and fish.

    My problem is that I have Cerebral Palsy, can’t do anything physical, and require a sizable amount of medication. However, I’ve invested wisely and have a sizable amount of wealth compared to most Americans, so maybe I shouldn’t worry.

  • Andrew Bulles

    About three years ago and upon the “death of my marriage” (I’m divorced now) I decided to never again “volunteer” my money to the federal government… I save what little I can and will soon buy a house in CASH in the name of my daughter where I will live and continuing working my business (IN CASH)… I will soon completely drop out of the tracked economy and will never again answer any mail addressed to my from this criminal unconstitutional federal government!!! DROP OUT TO CREATE A BETTER FUTURE FOR YOUR CHILDREN!!!

  • http://TulsaChange.com Tulsa Liberty

    With the past record of Obama, propaganda and lies what makes anyone think there is even a small hope for this to work out?

    In my town there are thousands of people out of work and many others who are working well below the necessary amount of money it takes to live.

    with runaway debt, wars, and the devaluing of our dollar, the money we make every week just does not seem to go very far these days!

  • Glench

    The 4000 dollar six month tax credit for hiring workers that have been out of work for 6 months or more is a joke… if anything it will create minimum wage jobs for 6 month periods for low skilled workers, companies then would lay off those workers and replace them with new workers in order to renew the 4000 dollar tax credit.

    A 4000 dollar tax credit will do nothing to create jobs for skilled workers. For example, a company that has to hire an engineer for 60K a year is going to hire the engineer irregardless of a small 4K tax credit for a six month period.

    The federal government is so far out of touch with the business community it’s unreal.

  • http://www.hlcgroup.net Katie

    Those promises of President Obama are just lies. how sad.

  • Zero D

    The best way to solve the jobs crisis is for American men to dump the American girls/women and go abroad and marry a rich foreign lady. Its like killing two birds with one stone.
    American men will go from negative cash flow to positive cash flow instantly without having to do a day job!
    And the best part is “No Jobs plan required”.

  • NL Boston MA

    {{President Obama is pushing the community colleges to do more, and these colleges are pushing back for they have reached and past their limit of what they can do.}}}

    I agree, community colleges were never meant to be an extension of high school which is what they have become.

    What do you mean what they ‘can do’?? Maybe it is because the students they serve are illiterate & borderline retarded with a below average IQ. These kids aren’t college ready and would be better off digging ditches or working at McDonalds

  • Dave in Scenic City

    I’m disappointed with this analysis (as I am with nearly all of the MSM) because it omits consideration of the outlays for our military empire spent primarily for the financial benefit of large corporations. Were these funds available for spending within the country (e.g., infrastructure), our current economic situation would be much less dire.

  • A.S.

    Why is that the smartest (supposedly), best-educated, charismatic, and sometimes richest, political leaders, have nothing productive to offer??? Look at Ben Franklin, George Washington, Thomas Jefferson, Abraham Lincoln, and many others of past days like them. All of them were drop outs from school (not even made it to high school). And what did they give us? Amazing freedoms, exponential economic growth, and well-rounded morals and social responsibility abound. Does that makes any sense?

  • CLARENCE SWINNEY

    OBAMA HAS GOOFED YET HE INHERITED ALL TIME DISASTER.
    His big one is not tellig the people about the disaster by Busheloons.

    Clinton to Bush to Obama
    Who Dug the Deep Hole? Who Fumbled the ball?
    Numbers rounded

    Clinton left Bush an 1800B Budget
    Bush Left Obama a 3500 Budget

    Clinton left Bush a 240B Surplus as far as the eye can see
    Bush left Obama a 1400B Deficit as far as the eye can see

    Clinton left Bush 5,700B of Debt
    Bush left Obama 11,800B of Debt

    Clinton left Bush a 237,000 net new jobs created per month
    Bush left Obama a 31,000 lowest number since Hoover.

    Clinton left Bush 17 Million Manufacturing Jobs
    Bush left Obama 11 Million Manufacturing Jobs

    Clinton left Bush a 10,800 Dow
    Bush left Obama an 8028 Dow

    Clinton left Bush Peace on Earth Good Will From Most Men
    Bush left Obama Hell on Earth Two disastrous wars. Enmity of 1500 Million Muslims

    Clinton left Bush a President most highly rated of any peacetime President in Asia, Africa, Europe.
    Bush left Obama the most hated President in history
    Bush left Obama an Housing Tsunami and Financial Volcano
    Bush left Obama, in 2008, an 8500B Bail out commitment Yes! 8500 not just 700
    Bush left Obama his Takeover of Fannie/Freddie, AIG, and first bailout of Chrysler
    Bush increased maximum loan by Fannie/Freddie from $300,000 to $729,000
    Bush increased FDIC maximum deposit coverage from $100,000 to $250,000
     clarence swinney–political historian–lifeaholics of america burlington nc
    author-Lifeaholic–Life story of Workaholic failure to Lifeaholic success
    Best seller list in haw river nc population 200 and growing
    comments welcome

  • jerry O

    Just another example of
    how our government is
    ripping us off.

    The economy continues to
    slide and more and more
    people are loosing their jobs.

    I’d like to offer a ray of hope
    in the midst of all the craziness…

    A friend recommended a site
    put together by a millionaire.

    It’s helped me
    prepare for our

    uncertain future
    in many ways:

    Free Video here-

    “How to Profit like the Ultra-Rich in Times of Economic Chaos”

    http://theelevationgroup.net/presentation/register.php?a_aid=160667&a_bid=290b868b&chan=y

  • Jake

    I for one could care less if the previous insurance companies go down in flames. In fact, I look forward to it. Step back in time 8 or so years and you’ll find stories of corruption in reference to HMO.

    I agree about the jobs plan, however I support it simply for one reason: its something better. Its not great, and it could certainly use some tweaking, but at least its one foot in the right direction. Something most republicans can only stand in the way with arms crossed and fingers waiving.

  • sam w

    your arguments are weak and muddled. you claim to be promoting the views of the ublic as a whole but you entirely lack confidence in the americans people to put money they are recieving from tax cuts back into the GDP. You want tax cuts and you got them dont complain because if we increase tax cuts much more then the debt is only going to increase because all the money the government should be paying back is going to be going to us.

    • jellobiafra

      You don’t seem to understand the problem. Virtually all of the goods available for us to buy are imported from other countries. When people receive tax breaks they simply purchase goods which go to increase the GDP’s of the manufacturing country. Tax breaks don’t cost anything – it certainly doesn’t increase the national debt. A better way to accomplish the same is to decrease taxes.

      If this administration were anything other than a rats nest of fascists (and I mean that in the most literal way) they would be offering private industry incentives to grow industries, stop signing trade agreements which give unfair advantage to others and stop increasing the size of the government. Since 2000 the size of U.S. government has doubled. The government has no money that it does not take out of the pockets of the tax payer and last I checked we were never consulted.

  • not really

    Listen, you really need to understand the macro intentions of the policies. You are being more than reckless with your blog, and showing little credible understanding … what would be the other effect of keeping the jobs of teachers and fire fighters. .. you need to think in terms of consequences, what happens if we lose them? Not theoretically, or glib mouthing of what others have said: oh that would be nice, BUT … that is dumb thinking. WHAT happens once teachers are taken out of schools. what happens to classes, what happens to communities – HOW does it affect the economy? WHY is the stimulus needed? what are they trying to do??? start thinking for yourself.

    • jellobiafra

      The point of what this administration is doing is twofold:

      1) Ensure that individuals and private corporation have no extra money to invest in private industry so that private industry goes bankrupt and it must be taken over by the government.

      2) Grow government in size and increase entitlements to the citizens who vote in order to buy their votes. Nationalize formerly private industries and effect complete central planning. Voila! We begin with Fascism (the melding of government and private industry where government funds industry it wants and starves industry it does not) to Socialism and Communism. Read “And Not A Shot Was Fired” by Kozak. It is the story of how Czechoslovakia, a federal republic, was transformed legislatively into a Communist, centrally planned state. It will make you look at what this administration is doing very differently.

  • http://www.squidoo.com/things-will-get-better Shaun

    Things will get better. I personally have never had any benefit from this stimulus bill created by Obama. I have heard it has helped some smaller companies and others as well but from what I know I have not had any help or none of my family members had received any benefit from the stimulus package.

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