Obama on Jobs: Reality is Not Optional

Reality is not optional

To: Obama and other Quasi-Socialist Progressive Fundamentalist Racism Chasers

In response to various comments regarding my last blog post: Obama on Jobs: Worst Track Record in History.

By: Larry Walker, Jr.

Actually the full quote as attributed to Economist, Thomas Sowell was: “Hope is not reality, and reality is not optional.”

Of all the jobs created, and recovered before progressives co-opted the Democrat party, how many were created by the lie that it is up to the Government to borrow money and use it to provide economic stimulus? The answer is none. The old liberal policy used to be called tax and spend (i.e. get the money first and then spend it). The tried and true conservative policy is to cut taxes and let the people spend their own money (i.e. let the free market dictate). The progressive slant has regressed into a new policy called, borrow and spend (i.e. borrow money by the trillion, spend it first, and then tax the hell out of anyone who survives).

We know that the first two methods worked to some degree, although we often disagreed on which was better. All we have to do is go back in history to measure their results. The goal has always been to grow our economy in line with the population, with limited inflation and full employment. But under this new borrow and spend philosophy, all we have is the hope that, if you are ever able to get your head above water, you will be taxed back into oblivion to pay for all the money spent to get you there. In the meantime you just hope that the $250 or $400 per year government handout is enough to get you by.

The hope that an unproven policy will be able to produce the same result as proven methods is not only uncertain, but in this matter impossible. Uncertainty is optional, but reality is not.

Joe Biden recently stated, “We will never be able to recover the eight million jobs that were lost.” Why would he say that? Because there is no way that it can be done under progressive ideology. It doesn’t take a rocket scientist to figure that out.

Under progressive ideology, the economy is something that will continue to function efficiently no matter which policies are crammed down its throat: stimulus, health care, energy policy, financial reform, etc… All of which may be noble goals in a fictitious world, but neither has anything to do with economic growth, nor job creation. True, each may create a few (net) jobs in the next 20 to 40 years, but there may not be any need by that time. In the end, you may be able to force all of these wonderful policies upon the peons, but by then no one will care because the great economy that once existed will be no more.

We need an economy that works for us today, not 20 years from now.

In reality, mandatory health insurance won’t do much good if there are no doctors or hospitals to visit. And where will one go to purchase it when all the insurance companies are gone? Renewable energy and carbon taxes won’t do much for the masses then living in cardboard boxes. Financial reform will be for naught if no one has any money left to save or invest. You can’t have it both ways. Either you put jobs and the economy first, or you fail on all counts.

Hoping that an unproven set of policies will work is not reality. We gave it a shot by spending well over $1 trillion, and it didn’t work. The national debt is now almost 100% of GDP and there is nothing to show for it. So what do you want to do? Do you want to keep on borrowing and stimulating until there’s nothing left? Or should we perhaps pause and consider making a u-turn? I say we heed the warning and make a u-turn before it’s too late.

We know what works, all we have to do is look back in our history at the policies that made America great.

“Reality is not optional.”

___________________________

My previous blog post may also be found at the following sites:

http://www.bookerrising.net/2010/06/larry-walker-jr-commentary-obama-on.html and,

http://aipnews.com/talk/forums/thread-view.asp?tid=15308&posts=1#M40159

Obama on Jobs: Worst Track Record in History

Obama: Worst President in History Award

Progressive Policies are Losing 4.2 Million Jobs Annually

By: Larry Walker, Jr.

On January 9, 2009, a staff writer for the Wall Street Journal wrote a smear piece entitled, “Bush On Jobs: The Worst Track Record On Record,” in which an attempt was made to show that Bush was somehow the worst President, and that therefore, Conservative economic policies (i.e. tax cuts) don’t work.

According to the staff writer, George W. Bush created a dismal +375,000 jobs per year during his eight year term; Bill Clinton created +2.9 million jobs per year; while George H.W. Bush created +625,000; Reagan prospered by +2.0 million; Carter by +2.6 million; etc… The staff writer also went into population growth during each term and the percentage of change in the population (for whatever reason). You can find the smear piece and the WSJ table here. Following is an excerpt:

President George W. Bush entered office in 2001 just as a recession was starting, and is preparing to leave in the middle of a long one. That’s almost 22 months of recession during his 96 months in office.

His job-creation record won’t look much better. The Bush administration created about three million jobs (net) over its eight years, a fraction of the 23 million jobs created under President Bill Clinton’s administration and only slightly better than President George H.W. Bush did in his four years in office.

Naturally it is important to use this same benchmark to measure how Barack H. Obama stacks up against his predecessors. So I went over to the good old Bureau of Labor Statistics website and made up my own table, based on the raw data. I brought my chart up to date through May 31, 2010. True, Obama has only been in office for 17 month’s, but we can at least get an idea of how he measures up.

Like the WSJ writer, the counts are based on total payrolls between the start of the month the president took office (using the final payroll count for the end of the prior December) and his final December in office (May 31, 2010 for Obama). Thus, there is no blaming the last POTUS for inheriting a bad economy, and no foul in taking credit for inheriting a good one. After all, being President is about leadership, and leaders take what is in front of them and do the best they can.

Net Job Creation by President (Click to Enlarge)

According to my table, Barack Obama has lost a total of -4.2 million jobs per year, making him, to date, the worst President in history. G.W. Bush actually created 1.1 million jobs per year during his eight-year term. Bill Clinton is responsible for 2.3 million jobs in each of his years. George H. W. Bush can lay claim to 881,000 during each of his four years. Reagan gets credit for 2.0 million jobs per year. And finally, even Jimmy Carter can boast in having created 2.6 million jobs per year. Net job creation is so much better than, economy killing, Progressive policies that there really is no comparison.

Now I am not naïve enough to believe that Presidents, or that governments for that matter, are responsible for job creation, but if you want to make that case, at least get the numbers right. It looks like the WSJ staffer padded Clinton’s numbers while taking away from both of the Bush’s. At the same time, he did manage to get both Reagan’s and Carter’s numbers right.

In conclusion, thus far, the Progressive policies of Barack H. Obama are failing. There ought to be a law. Actually there is a law. It’s called, ‘The Law of Supply and Demand’. When prices fall, demand increases. When taxes are reduced, investment, production and employment increase. And when supply is increased, prices fall, leading to increased demand. Government intervention in the private sector has never worked, and it never will. Reducing the size of government, lowering taxes, and decreasing government regulation actually work after all. We will most definitely be following up.

References:

ftp://ftp.bls.gov/pub/suppl/empsit.cpseea1.txt

http://blogs.wsj.com/economics/2009/01/09/bush-on-jobs-the-worst-track-record-on-record/