Thursday, December 03, 2009
The White House Plans A 'Jobs Summit'
The Obama Administration has issued a call for what it refers to as a a jobs summit.
This is roughly the equivalent of an arsonist calling a summit on fire fighting.
We currently have 15.7 million Americans without jobs, an official rate of 10.2%. In the real world, when one counts people who have simply stopped looking and independent contractors or formerly self-employed jobless who don't receive unemployment benefits, we are likely looking at an actual rate that's closer to 17.5 %.
The 'summit' in itself is an admission of exactly how few real jobs the so-called stimulus created, to the point where the Obama Administration was instructing the government agencies who received stimulus funds to lie and count employees in government offices who got salary increases as additional personnel with 'saved jobs'. This gave us the unbelievable spectacle of a government office with a total of only 508 people working there claiming 935 jobs 'saved or created'!
Of course most of the stimulus money didn't go to government agencies as salaries. It went for things like the farcical cash for clunkers program, or to Barack Obama's political allies, like ACORN and the SEIU or as pork to well connected Obama supporters in Congress.Or it simply disappeared.
The new summit is notable in that no one even remotely critical of the Obama Administration's outlandish economic policies was invited.Instead, the attendees are a mix of Public Employee Union functionaries, Obama-friendly CEOs from companies like Google and a smattering of left leaning academics and economic commentators like the New York Times' Paul Krugman.
Very few of these people if any are going to agree on job creation.The vast majority of the attendees have never done anything whatsoever to actually do what's involved in creating jobs and prosperity. In fact, in the case of the public employee unions and the academics, it would be fair to say that they make their living siphoning off of the profits and taxes of others. And the ones that know anything about jobs or entrepeneurship have a vested political interest in not making Obama look bad.
No one ever spent or taxed their way to prosperity, ever. The Romans found that out the hard way centuries ago and the lesson has cropped up many times in human history,but apparently the current Occupant of the White House had an education that somehow missed this subject.
You create jobs and prosperity by cutting taxes, wasteful spending and over-regulation of the people who run businesses and actually generate employment and as Arthur Laffer proved,increased tax revenue.You destroy jobs with the opposite behavior, but if you're a Socialist like Barack Obama, getting elected depends on massaging constituencies that want ever more gimmees acquired by taxing 'the rich'..until the day comes when you run out of rich to tax, the fiction cracks and you have California.
That appears to be where we're headed, at least in the short term. Obama's job summit is just another dog and pony designed to hide that fact.