Unemploy Obama
The latest jobs report should persuade all those who worry
about the president’s economic policies but find him likable that
enough is enough, and that policy trumps personality when it comes to
deciding who should occupy the White House. Job creation remains anemic,
the unemployment rate has ticked up to 8.3 percent, and the labor force
participation rate continues to fall as more and more Americans choose
the couch over tramping the streets looking for work. The Labor
Department sums it up: Both the number of unemployed and the
unemployment rate “have shown little movement thus far in 2012.” It
should be clear that it is time for a change.
AP Mark Lennihan
The
president has gambled the nation’s ability to recover from this
recession on policies that include high taxes, more regulation, attacks
on businesses and “millionaires and billionaires,” stimulus spending
that ends up largely in the pockets of members of public service trade
unions and campaign contributors, and huge deficits—gambled and lost.
Like other obsessive gamblers who cannot recognize failure until they
are ruined, he wants to double down—make the same bet again in the hope
that this time he will roll prosperity instead of more joblessness.
Ideologues, like addicted gamblers, reject experience as a teacher. And
when they are gambling with other people’s money, they have little
incentive to change, especially if they can count on a winning
personalit
To get our country back on a growth path we have to change
course, which means that Mitt Romney has to win. Which means, in turn,
that he will have to do more over the next three months than repeat what
voters already know—that the Obama plan for America’s economic future
is leading us to European-style stagnation and a level of indebtedness
that a no-growth economy will never be able to repay. Romney will have
to say what he plans to do if the voters give him the opportunity to
redirect national policy. His plans will have to meet two criteria: They
must be consistent with the conservative principle that government
policy should provide a framework for markets to work, and they must
meet some rough standard of fairness, which is much on voters’ minds in
this day of increased inequality.
Here are a dozen points Romney might consider making. They
are not the Ten Commandments: Dropping some and watering-down others is
permitted. So are changes to accommodate the fact that politics is the
art of the possible. What is not permitted is a continuation of a
campaign that combines a minimum of forward-looking specificity with a
maximum of backward-looking attacks, leading to an overall failure to
explain what the heck is going on in our economy and how Romney will fix
it.
Extend the Bush tax cuts for one year. With
partisanship off the boil after the election, and Bill Clinton as an
ally, this can be done quickly—if accompanied with a pledge to use this
grace year to enact broad tax reform that would root out of the tax code
the provisions that benefit the wealthy while retaining their incentive
to earn more and create jobs. No more deductions for mortgage interest
on second homes; no more special allowances for the oil industry; no
more favored tax treatment for venture capitalists and hedge-fund
operators. There are more, but you get the idea: The tax code has to be
simpler and fairer.
Arrange for mortgage forgiveness that will
actually increase what banks will retrieve from the mortgage mess,
recognize reality on bank books, increase consumer spending, avoid
creating even more underwater properties, and give the housing market a
boost. New studies show it can be done.
Impose a moratorium on new regulations not
urgently needed to save lives. That will be the pause that refreshes,
and give us a chance to review the tens of thousands of regulations now
in effect, cull those that are unnecessarily imposing burdens on
businesses and costs on consumers, and see if the remaining regulations
need supplementing. That will give businesses some of the certainty that
has been sorely lacking, causing companies to sit on huge cash piles
rather than subject them to the tender mercies of the Obama regulatory
machine.
y to persuade supporters to overlook the minor matter of
oncoming penury.
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Top Opinion
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Mel the Witch POTL PWCM~JLA 2012/08/05 11:52:45
course, which means that Mitt Romney has to win..."
And if you think THAT idiot is going to do anything for the average American, you are SADLY mistaken.
I traveled from western Michigan from Lake Michigan across to eastern Michigan to Lake Huron this early summer and saw nothing but abandoned homes from very rich big homes and farms to small homes and farms. 2 years ago my wife and I traveled the whole Upper Peninsula of Michigan, there are whole towns, fire departments, police departments, grocery stores and gas stations totally abandoned. Towns empty and gone. Between Calumet Michigan and the very tip of the UP where Fort Wilkins is located, there is only one gas station left open. In winter you would be in very deep trouble up there without gasoline and groceries.
Obutthole's jobs report is one of the biggest lies ever. This guy is anti-business, he's anti-American and he is lining his pockets and his buddies pockets at our expense and people are worried about Romney's taxes for the last 10 to 12 years? Hell, I don't care what Romney made, I want to see everyone in this country get back to work. At least he knows how to earn it, Obama only knows how to spend it.