Signs of intelligent life

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Like most people I did not listen to the president pontificate last night. Unlike most people, I did go get the transcript of his speech.


http://www.wwl.com/Text-of-President-Obama-s-jobs-speech/10852444

Premature hatching of one's egg collection.

Not that I expect you to read it.

I will now surprise you.

I liked some of the items in the speech.

The president said of his proposed bill (and I await proof this is the truth):

"It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business.

"Pass this jobs bill, and all small business owners will also see their payroll taxes cut in half next year. If you have 50 employees making an average salary, that's an $80,000 tax cut."

You took HOW MUCH from my paycheck?

Now THAT is something I can get behind. I got a detailed quarterly wage report for myself yesterday. The amount of taxes paid out of MY salary stunned me. This is not ALL the tax which must be paid either; my employer picks up the tab for other taxes before my pay is ever computed. Seeing what's taken out of every paycheck is one thing. Getting an itemized report for several months of pay might stun you as well. 

"Everyone here knows that small businesses are where most new jobs begin."

Truth. 85 percent of jobs in the nation are created and maintained by small business. Small business is also the one hit hardest by government regulation and taxes. Small biz simply does have armies of lawyers to fight government.

" Pass this jobs bill, and companies will get extra tax credits if they hire America's veterans. We ask these men and women to leave their careers, leave their families, and risk their lives to fight for our country. The last thing they should have to do is fight for a job when they come home."

Amen. I FULLY support this idea. As I have said before, I will agree to cut ANYTHING in the federal budget EXCEPT veterans' benefits. If anything, this needs to be increased.

Work it baby, work it.

"Pass this jobs bill, and companies will get a $4,000 tax credit if they hire anyone who has spent more than six months looking for a job. We have to do more to help the long-term unemployed in their search for work. This jobs plan builds on a program in Georgia that several Republican leaders have highlighted, where people who collect unemployment insurance participate in temporary work as a way to build their skills while they look for a permanent job"

Less excited about this, but I can support it for a while. But only for a while. 

Which brings me to the part of his speech (and depending on the details of his plan) the parts I cannot support.

Yeah. He's right about that. But...

"Pass this jobs bill, and we can put people to work rebuilding America. Everyone here knows that we have badly decaying roads and bridges all over this country. Our highways are clogged with traffic. Our skies are the most congested in the world.

"The American Jobs Act will repair and modernize at least 35,000 schools. It will put people to work right now fixing roofs and windows; installing science labs and high-speed internet in classrooms all across this country. It will rehabilitate homes and businesses in communities hit hardest by foreclosures. It will jumpstart thousands of transportation projects across the country." 

Rebuilding our infrastructure will not rebuild the economy. It MAY, and I stress MAY, help. Construction is a necessarily time-limited job. Once a road is built, it's there. Once a building is up, it's there. There are no more jobs to be had in construction for those projects.

He's got growth, but now what?

Long term sustainable growth means something is produced over and over at the same place for which there is an ongoing and continuing market. Think food. Think computers. Think cell phones. Think clothes, Think of anything you use which has to be regularly replaced. 

That is where sustainable growth comes from. Nothing in the president's speech points to this. His goals are all short term, fixed time span with nothing beyond them.

At the same time I must agree our nation's infrastructure is tumbling. Much was built with federal dollars. Where did that money come from originally? From taxing sustainable and long term industries which have now relocated overseas. 

Nothing in his plan points to a return of what made America an economic superpower.

As for the budget part of his speech...

The reality of the forced budget cuts later this year.

The idea that forced budget cuts will come about later this year if Congress can't agree to budget cuts is, frankly, bull shit of the highest caliber. This was not really the president's idea, but needs to be said.

Congress passed the law saying forced budget cuts will happen. Congress can JUST AS EASILY VOTE IN AN EXTENSION or abolish the law. Congress has a LONG LONG LONG history of changing uncomfortable rules. I expect 'em to do it again. 

 Nowhere did the president elaborate on his budget cuts. That'll come later with his plan.

I continue to maintain, he won't actually cut anything. Instead his plan will call for not increasing spending in the future. See comments just about regarding fertilizer.

Bottom line? The president promised much in his speech. I seriously doubt his proposed plan will be able to deliver.