Once again we are going to have a “showdown”, with Republicans in the House of Representatives, lead by Majority Leader Eric Cantor (R-VA), offering up their own version of a “Jobs Plan” in answer to President Obama’s jobs plan.
Chairman of the Republican Study Committee, Jim Jordan (R-OH), said the Republican plan will “offer us an opportunity to further develop our Cut, Cap and Balance idea, by adding robust growth components, such as tax reforms and regulatory reforms, just to name a few,” according to reporting filed by Judson Berger in his FOXNews article today.
In a follow on statement, Eric Cantor said they look forward to returning to Washington next week to “focus on how to stop the federal government from making it so difficult for small business people to create jobs.” And, although statements from the Obama Administration claimed an upcoming reduction of regulations that will save America businesses $10 billion over five years, Cantor said those are “different” from the regulations that he will be recommending, many of which will be those of the Environmental Protection Agency, specifically those for businesses who operate “boilers” and “cement plants”.
House Speaker John Boehner chimed in with the fact that the Obama Administration has already added 200 regulations to the law books this year alone.
However, Brian Darling, a former Republican Senate aide, who is now a Senior Fellow for Government Studies at The Heritage Foundation, has little faith, and says … “There just doesn’t seem to be much common ground on these issues” … holding little “hope” for anything substantial coming from the competing proposals. In fact, he expects the Obama ‘plan’ to be more of a “messaging document” for the Obama re-election campaign, versus a genuine plan that would have “any hope of passing Congress”.
Although there may be some “hybrid jobs plan” enacted from this process, the overarching facts on the ground will not allow for the substantial structural and systemic changes that are necessary for businesses to seriously engage in expansion and job creation before 2013–after the elections and assuming the Presidency and a majority in both the House and Senate go to Republicans.
Proof of this is exhibited by President Obama’s nomination today of Prof. Alan Krueger, to head the Council of Economic Advisors.
Alan Krueger, Ph. D-Harvard 1987, who will be on leave from Princeton University, is a Professor of Economics, who according to Wikipedia is one of the “top 50 economists in the world”. He has conducted mountains of research and published numerous books, most notably on labor relations and income distribution. He worked as Chief Economist for the U.S. Department of Labor 1994 to 1995, and as U.S. Asst. Treasury Secretary on Economic Policy from March 2009 to October 2010, when he announced his resignation and returned to Princeton, until today, when President Obama nominated him to head the Economic Advisory Council.
It would appear that Dr. Krueger has never had a [post-graduate] job in the private sector.
It would also appear that Dr. Krueger is yet another [liberal] economist (Labor), who [once again] hails from the world of academia (Princeton), and is likely no different from those on the long list of prior “short-lived” members of the Council.
There are currently only two members on the Council at the moment, and they have only been there since April 14, 2011.
Catharine Abraham, Ph D.-Harvard 1982, who is on leave from the University of Maryland, and who is a “faculty associate at the Maryland Population Research Center and Professor in the joint program on Survey Methodology”–according to her brief on the Council website, she has done nothing but research, belong to academic associations and held a government position during the Clinton Administration.
It would appear that Dr. Abraham has never had a [post-graduate] job in the private sector.
Carl Shapiro, Ph. D-MIT 1981, who is also on leave, but from University of California at Berkley, and who is a Professor of Business Strategy, as well as Economics–according to his brief on the Council website, he has done much research, published many papers, been an editor of an academic publication, belonged to numerous academic associations and also held a short term position with the federal government under President Obama from 2009-present.
It would appear that Dr. Shapiro has never had a [post-graduate] job in the private sector.
Since 2009, beginning with Larry Summers, each and every one of the members, individually and collectively, have badly failed in their “plans” to fix the U.S. economy, because the extreme liberal ideology they employ is fatally flawed.
As a result of their very public failures, all of Prof. Krueger’s predecessors–most recently Dr. Austan Goolsbee, who only held the Chairmanship of the Council for 11 months–have “fled” back to their University “refuges”, presumably in the hope of maintaining some level of credibility and their “positions” within academia.
Only one original member of President Obama’s economic advisor “Team 2008” remains–Secretary of the Treasury Timothy Geitner, who had announced publicly that he was going to leave after the “debt-ceiling crisis’ was resolved, but who has since decided to stay on through the November 2012 elections.
Today, during his press conference to announce the appointment of Dr. Krueger, President Obama stated that his [jobs] plan “would immediately help middle-class families, make it easier for small businesses to hire and put construction crews to work.” We have all read something to this effect, many times before.
Stripping away the rhetoric reveals that:
1. Nothing is “immediate” that is formidible;
2. It is not “hard” for small businesses to “hire” now … it is just unwise, and,
3. As to ‘putting construction crews to work’, remember the now famous Obama “gaffe”, where in a news conference with Jeff Immelt (Chairman and CEO of General Electric and Chief of the Obama Job Creation Council), when someone in the audience asked the President “where are the jobs [you promised [from the “stimulus package”], he answered … ‘Well (Obmama, Immelt and unidentified woman at table snicker amongst each other like they knew an “inside joke”), those jobs weren’t as shovel ready as we thought.’
Nothing has changed for President Obama since that time.
And, as we have reported before, it is unlikely that the Republican-controlled House will give him another shot at any kind of “stimulus plan” that includes a lot of funding; after all, “fool me once, shame on you–fool me twice, shame on me!”
In view of President Obama’s impressive record to date with private sector job creation, and the cirriculm vitaes of these three new job creation experts on his Economic Advisors Council, I think that the definition of “insanity”, which is “doing the same thing over and over again and expecting different results”, definitely comes into play.
Regardless, we are all just going to have to wait until President Obama releases his “jobs plan” to the press, and then see how the financial markets around the world respond once they have evaluated it–as we have reported on before, that will represent the “true assesment” of his plan.
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