Unemployment up to 9.2 percent – how’s that hopey changey thing working?

July 8, 2011 08:10

False hope and change for the worse. We have reached a point where more spending is destroying jobs rather than creating jobs. All of Obama’s talk about jobs has been lies and distractions from his real goal of redistributing the wealth and “fundamentally transforming America.”

Ian Swanson at The Hill.com reports that:

“Unemployment climbed to 9.2 percent in June as the nation added a paltry 18,000 jobs”

“Economists had forecast the economy would add as many as 120,000 private sector jobs in June, and some had revised forecasts up after some favorable reports on manufacturing activity and jobs this week.

Instead, the report released Friday by the Bureau of Labor Statistics found employment in most major private-sector industries changed little over the month, while government employment continued to trend down.”

This chart shows how continuing government spending is not helping employment:

Obama spent the first two years claiming he was focusing on jobs but gave us Obamacare instead. The CBO says Obamcare will kill 800,000 jobs. Obama continues to tout “green” jobs and spends borrowed tax dollars to support failing “green” companies that end up sending their few jobs to China. Some of those supposed job creators are big Obama contributors.

Obama’s illegal oil drilling moratorium killed over 100,000 jobs in oil related industries. A damning memo showed the administration knew its oil drilling moratorium in the Gulf of Mexico would kill tens of thousands of jobs but did it anyway. Americans are the ones getting drilled.

Recent strangling EPA regulations have led to the shut down of coal plants killing 600 jobs and promising to drive up electricity rates which is sure to kill more jobs. Obama seems to be doing everything he can to increase energy costs. Higher energy costs means fewer jobs. Obama appointed an energy secretary that actually wants higher gasoline prices. Secretary Chu has said “Somehow we have to figure out a way to boost the price of gasoline to the levels in Europe.” A recent Congressional Report determines that the Obama administration is intentionally causing high gas prices. The public seems to remain clueless. Remember this is a president who said “under my plan electricity rates will necessarily skyrocket.”

How can Obama even pretend to be trying to create jobs when he is so anti-business? Jobs are by definition a creation of business. 2012 GOP candidate Tim Pawlenty  said “Obama can’t be pro-jobs and anti-business.” It does not matter what you believe about why Obama is ant-business just that he is.

According to FT.com 3M’s chief, George Buckley, said “We know what his instincts are – they are Robin Hood-esque. He is anti-business.”

Just last September former head of GE Jack Welch said “President Barack Obama’s administration has an “anti-business” bias which manifests itself through intimidation, trade, taxes and regulation.” A year ago a Bloomberg survey showed that 77% of US investors thought of Obama as anti-business. Jeff Immelt, CEO of GE is reported to have said business did not like the US president, and the president did not like business. Immelt has since backtracked after becoming an Obama insider.

Former Obama supporter and consistent leftist Mort Zuckerman wrote and opinion piece in US News saying:

“This predilection to blame business is manifest in the unnecessary and provocative anti-business sentiment revealed by President Obama in a recent speech that was supposed to be seeking the support of the business community for a doubling of exports over the next five years.”

He went on to point out that burdensome rules and regulations being instituted by the Obama administration and the then Democrat controlled congress:

“Consider the new generation of regulatory rules, increased bureaucracy, and higher taxes created by the Obama administration. For example, the new financial regulation bill includes nearly 500 “rule-makings,” studies, and reports, compared with just 14 in total for the controversial Sarbanes-Oxley bill, passed after the financial scandals of Enron and WorldCom.”

“The U.S. economy faces hurricane force headwinds and the government is at the center of the storm, making an economic recovery very difficult,” said William Dunkelberg, chief economist for National Federation of Independent Business.

Speaking of businessmen, Charles Gasparino a senior correspondent for Fox business Network had this exchange with John Stossel:

“If you talk to some of these guys, you talk to Jamie Diamond the CEO of JP Morgan Chase, big Obama supporter, he said listen I voted for Obama because yes I wanted change. I wanted to help people. I didn’t want to create new entitlements you know, I didn’t want to sort of redistribute wealth.

This is what they really thought. They thought he was a moderate.

You know what I said to these guys? I said have you ever heard of Jeremiah Wright? I mean Jeremiah Wright, his racist rhetoric, its there, but he’s also a Marxist. He teaches liberation theology. How can you vote for a man who considers, and you’re a businessman, considers a Marxist to be his spiritual mentor?”

Michael Brush at MSN Money pointed out more complaints about Obama’s antibusiness attitude in his article “Why CEO’s can’t stand Obama”:

Consider the following attacks on Obama and the Democrats in recent months:

  • Intel CEO Paul Otellini, referring to Obama and the Democrats, said in an August speech to the Technology Policy Institute’s Aspen Forum, “I think this group does not understand what it takes to create jobs.”
  • Verizon CEO Ivan Seidenberg, in a June speech at the Economic Club of Washington, accused Obama of creating an “increasingly hostile environment for investment and job creation.”
  • Cypress Semiconductor’s Rodgers told me last week that he had “started out happy with Obama because we had broken through the white male barrier” and made “a step forward for equality.” But Rodgers added: “I have become deeply disappointed with him. It is amateur hour in Washington. The guy hasn’t got a clue about the economy, how jobs are created, how wealth is created. It reminds me of the Jimmy Carter years, only worse.”
  • Blackstone Group CEO Steven Schwarzman seemed to compare the Obama administration to Hitler by saying in a recent private meeting that Washington’s push to increase taxes on private-equity firms is war, “like when Hitler invaded Poland in 1939,” according to Newsweek.

Bernie Marcus Home Depot co-founder told Neil Cavuto that we will never be able to pay off this debt and that if we continue these policies we will be ‘dead in the water’. ‘I don’t know what he’s smoking’ he said of VP Biden’s stimulus propaganda. He said Obama administration doesn’t “have a clue” on small business.

Now Obama has created a jobs “council” to help him figure out how to create jobs. Who does he put on his jobs council? Heads of companies that are losing jobs.

IBD Editorials calls it “Obama’s Job-Killing Jobs Council.” They point out that the make up of the council is from companies that have been shedding jobs and anti-business unions:

• GE’s domestic workforce shrank by 25,000 — almost 16% — between 2001 and 2010, according to the company’s annual reports. (The number of overseas GE jobs climbed over those years.)

• AmEx employed 28% fewer workers in 2010 than it did a decade ago.

• Kodak’s workforce cratered to just 18,800 last year from 75,000 in 2001.

• Xerox’s employee base shrank by nearly a third between 2001 and 2009, before it acquired Affiliated Computer Services and its 74,000 workers in 2010.


Beyond this, the board is made up of the heads of two big unions, an energy company, a railroad, an airline, a couple investment firms, and the like.


It’s little wonder, then, that the list of immediate must-do, job-creating ideas the council came up with — and outlined in a Monday op-ed signed by GE’s Jeff Immelt and AmEx’s Ken Chenault — is so uninspiring.

Former Verizon CEO Denny Strigl’s reaction to the job council recommendations:

“To me, it’s very clear that one of the issues that we are facing that is really preventing businesses from hiring today is the uncertainties that we’re seeing in the economy. Uncertainties caused by regulation, uncertainties cause by such things as Obamacare, taxation, even fuel prices. These are things that really need to be addressed to get businesses to hire, to get businesses to invest more.”

Obama blames Americans for being “skittish” and “nervous” with a subtle implication that its still all Bush’s fault, Obama tries to tell Americans that their task is to “not panic, not overreact”. Meanwhile his promised anti-energy policies, job killing Obamacare, ever increasing debt, failed stimulus, payoffs to union supporters and Utopian “green” revolution are collapsing the US economy. But as Alfred E. Newman said “What, me worry?”

So if you think Obama really cares about jobs, think again. Obama’s jobs talk is cheap but his actions speak much louder than his words.

Michael Whipple, Editor usACTIONnews.com

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