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Economy

Bursting the jobs numbers bubble

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Well, I really don’t want to burst anyone’s bubble. After all, when I get good news, the last thing I want is to see another episode of Adam Ruins Everything and suddenly what I thought was great news is only going to be marginally beneficial … maybe. Before I get started, though, I want one thing to be crystal clear: I am not an economic wizard. As a matter of fact, I don’t want anyone to think I am even slightly good with economics, especially on a national scale. But I don’t think I have to be; common sense should be enough.

Since before President Trump’s inauguration, he has been making deals. What started with Carrier back in late November, 2016, with the “saving of 1000 jobs” as it was reported, jobs numbers have been on a positive move. As an aside, the NYSE and other markets began a steady trend upward on November 9, 2016 that has continued a generally positive movement. Things look good and we are not yet tired of winning. Right? Let’s analyze what over 1 million newly added and filled jobs means.

First, I really hope for the best and for these jobs (and the markets) to continue the positive growth. The recent proposal to immigration in favor of American workers will certainly help growth, both in jobs and the economy. Bringing talented individuals to partake in the American dream is something we all embrace. Innovation and work is good for them, for us, for America and ultimately for the world. First, however, the immigration bill, or RAISE Act, must become an actual piece of legislation; second to be voted on and, third, signed into law. Expect a lot of push-back from the Democratic Liberals on why this legislation is bad: its racist, Islamophobic and “too cosmopolitan” for the globalist elites, are my guesses. I expect 6 months or more before the RAISE Act is actual law and, most likely, part of a larger immigration reform package.

Since January, 2017 the jobs numbers have surged. Not small numbers, massive numbers that, frankly, the Democrats probably find disappointing because they haven’t been able to achieve these growth rates in … well, decades. And President Trump has only been in office for 6 months. Obama’s 1st year in office witnessed the loss of 5 million jobs. In October, 2010, we saw those numbers begin to return with an additional 5 million over his tenure for a total of 10 million. That is roughly 1.67 million jobs per year, from October, 2010 through October, 2016. At this rate, under Trump’s watch, he should be able to easily match if not surpass Obama’s numbers.

The big difference is that Trump didn’t have to make up for lost ground. He started his tenure in office gaining jobs. Now, I’m not discussing whether or not Trump can actually be credited with the gains. Frankly, I don’t care who gets the credit. The problem is that the gains for the American worker, as it stands now, will be minimal. Sure, we feel better when we are working and earning our way, providing for our family and able to make a vacation or two at some point in our lives. But we still have massive issues that are, quite simply, going to erode any good these jobs numbers project.

There are two glaring problems that the Gutless Old Party has yet to accomplish: 1) tax reform, and 2) repeal of Obamacare.

We still need tax reform. If we want corporate America to succeed, they need incentive – taxes and repatriation are two items that must be addressed. For the individual, so what if I have a job. I’m still paying exorbitant taxes. I have been promised tax reform and I want to see it before the 2018 filing season. Oh, and by the way, it would be beneficial to anyone wanting to keep their job on Capitol Hill to make tax reform retroactive to January 1, 2017.

We still have Obamacare. This piece of legislative and regulatory disaster has been most responsible for inhibiting growth in the public and especially the private sectors. Are we still going to have the IRS looking over our shoulders to make sure we have that burden securely fastened to our backs? Am I still going to be fined a penalty if I don’t have Obamacare?

And, finally, what really grinds my gears (thanks, Peter, for that) is that our Republican President says we need an addition $50 billion in this year’s debt ceiling and “we will reduce that to $30 billion next year.” Wait. What? I thought we were trying to limit government spending. Am I going to be able to go to the grocery store and tell them I have opted for an increased debt ceiling? No. And don’t give me this “reduce to $30 billion.” You aren’t reducing anything. You are increasing the debt ceiling by $80 billion over 2 years. And do you think I am naïve enough to believe that it will stop there?

All these jobs are necessary. We have the government’s subsistence to upkeep and that popping sound you heard was the button on the Fed’s fat pants. Yes, once again, our “conservative” Republicans in Congress are just as liberal with our tax dollars as the Democratic Liberals. The difference is who gets to be in control of the purse and spend the money. What is obvious is that two Liberal parties exist. They simply have different ways they want to spend our money.

David is a Christian, a husband, father and patriot. He loves the fundamental first principles of the Declaration of Independence, the U.S. Constitution and the Bill of Rights. As a full-time student at Regent University (online), he is earning a BA in Paralegal Studies with the intent to continue on to law school at the University of Texas, Austin. Whenever possible, David argues for the principles of natural law with whoever will listen. David lives in Georgetown, Texas with his wife, Mandy and two children, Ethan and Meredith.

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Economy

Will GOP stop Trump’s trade war as the Constitution requires?

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When Donald Trump announced YUGE tariffs on imported solar panels and residential washing machines back in January, he launched a trade war reminiscent of 1800’s protectionism and laid the foundation for higher prices for American consumers, along with the loss of thousands upon thousands of jobs.

Unfazed by historic evidence that such trade wars inevitably lead to economic disaster, Trump proceeded with a second round of attacks on the free market in March by imposing across-the-board tariffs on steel and aluminum, complete with his personal assurance that “trade wars are good, and easy to win.”

While Trump initially suspended steel and aluminum tariffs against the EU, Mexico, and Canada–providers of roughly fifty percent of steel imports to the US–he announced this past Friday that the tariffs are back on. And for good measure, he issued an additional threat to Germany that he would completely ban the import of luxury cars if they chose to retaliate with tariffs of their own against US goods.

As was the case in March, members of the GOP are threatening to prove they actually have a spine, and there are indications that they might do something this time around to stop Trump before it’s too late.

Sen. Pat Toomey (PA)–for the record, that’s a steel state–will be co-sponsoring Sen. Mike Lee’s bill S.177 to end Trump’s abusive practice of using “national security” to impose tariffs and to return tariff authority back to Congress where it Constitutionally belongs.

Other Republicans joining with Toomey and Lee are Sens. Jeff Flake (AZ), Corey Gardner (CO), and Ben Sasse (NE).

Besides the fact that tariffs are simply terrible economic and foreign policy, Trump has used the threat of tariffs against China as leverage for his personal financial gain; essentially extorting money from the Chinese government to finance Trump golf courses and hotels in Indonesia and securing a boatload of trademarks for his and Ivanka’s business interests in China.

If passed, S.177 will give the power to approve or disapprove Trump’s tariffs back to Congress, not to mention that it would save the American people from an economic catastrophe.

The only question is, will Republicans do what required to fulfill their Constitutional duty or will they cave to Trumpism in hopes that it will help them in November? The clock is ticking . . .

Originally posted on The Strident Conservative.

 


David Leach is the owner of The Strident Conservative. His daily radio commentary is distributed by the Salem Radio Network and is heard on stations across America.

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Economy

Obamanomics damaged the economy, and Trumponomics isn’t fixing it

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While Trump and the GOP want you and me to believe that Trumponomics has singlehandedly saved the US economy by reducing taxes and creating jobs, the reality for those of us living in the real world is quite different.

It was Mark Twain who once said, “There are three kinds of lies: lies, damned lies, and statistics.” When it comes to politicians in an election year, Mr. Twain could have been describing the Washington establishment owned and operated by the Republicans and Democrats.

No doubt you’ve heard the much-ballyhooed news that unemployment has dropped to its lowest level since 2000, coming in at 3.9%. But just as it was when Obama manipulated unemployment numbers to cover his pathetic economic policies, this recent jobs report has been manipulated to hide the truth about our very unhealthy economy.

Unemployment numbers can change for any number of reasons:

  1. People move from the unemployed category into the employed category
  2. The number of employed grows faster than the number of unemployed
  3. You simply add people to the employed category without changing anyone’s status
  4. You simply stop counting people in the unemployed category, making them magically disappear

When we consider that the number of jobs added in April was 164,000 while the number of unemployed dropped by 239,000, we can conclude that reason #4 is how the latest unemployment rate was manipulated to make things look better than they really are. Unemployment went down because the labor-participation rate fell to 62.8 percent after being 63 percent in February and 62.9 percent in March. Three consecutive months of declines.

Quite simply, when you are no longer working or looking for work, the government no longer includes you as a part of the equation to calculate the unemployment report.

Meanwhile, Trumponomics is also creating a slower growth rate than Trump is claiming while his tax cuts and record government spendingdespite the recent rescission cuts—is creating another threat to the US economy, an apocalyptic debt spiral adding trillions to the already unsustainable national debt.

Obamanomics caused a great deal of damage to the US economy, but Trumponomics isn’t doing anything to repair it; in fact, Trump’s plan will likely destroy what’s left of it.


Originally posted on The Strident Conservative.

 

David Leach is the owner of The Strident Conservative. His daily radio commentary is distributed by the Salem Radio Network and is heard on stations across America.

Follow the Strident Conservative on Twitter and Facebook. Subscribe to receive podcasts of radio commentaries: iTunes | Stitcher | Tune In | RSS

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Democrats

Forget lowering unemployment, Bernie Sanders will eliminate it!

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During his 2016 Democrat primary campaign, Bernie Sanders was “absolutely sympathetic” to the idea of a universal basic income; however, he felt that his plans for a $15/hr. minimum wage, expanding Social Security to pay for guaranteed healthcare, and providing free college would do more than creating just another government handout.

But now Bernie has apparently found a way to accomplish his goals as well as the goals of the universal basic income crowd.
Yesterday, we learned that the self-proclaimed Democratic-Socialist is ready to announce a plan that will guarantee every American “who wants or needs one” a lifetime government job paying at least $15/hr. and proving paid family and medical leave plus retirement, health, and vacation benefits.

While the details are still being worked on, Bernie has admitted that he currently has no idea exactly how much his plan will cost or where the money to pay for it will come from. However, if his 2016 campaign is any indication, the cost will be irrelevant, and the money to pay for it will come from “the billionaires and oligarchs” he refers to as the “top one percent of income earners.”

While it would be tempting to shrug off Bernie’s plan as the rantings of a socialist loon living to the left of the left-wing, we should remember how his Marxist beliefs concerning income inequality caught fire with a generation of Constitutionally ignorant voters raised on the socialist ideology taught in today’s public schools indoctrination centers.

And a poll conducted during the 2016 primary season showed that a majority of millennials rejected capitalism.

Democrats would see a huge voter advantage by creating a new state-run workforce dependent upon them for their jobs. And politicians from both parties would have a new voter-bloc to advance their ideological and political agendas.

Bernie’s plan is being called a guaranteed-jobs program, but the only guarantee it gives us is the destruction of capitalism and Constitutional America.


Originally posted on The Strident Conservative.

 

David Leach is the owner of The Strident Conservative. His daily radio commentary is distributed by the Salem Radio Network and is heard on stations across America.

Follow the Strident Conservative on Twitter and Facebook. Subscribe to receive podcasts of radio commentaries: iTunes | Stitcher | Tune In | RSS

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