Friday, November 06, 2009

10% and rising


Unemployment figures released today show the official rate at over 10% for the first time in 26 years. The actual rate is probably closer to 20%. It's so telling that the Obama team and the Democrats in Congress have pushed hard for their radical agenda instead of focusing on repairing the fabric of America - the economy. Pushing a complete overhaul of the health care system at a time when millions are out of work to satisfy their decades old obsession to socialize American medicine is self destructive and frankly its selfish.

The self destructive part comes from the pall of uncertainty floating about the business world over this thing. Even if such a monstrosity as this 1990 page Pelosi plan is passed into law the uncertainty of what it will do to businesses big and small will stunt growth and hiring plans for months and even years to come.

Next on the agenda is so-called Cap and Trade legislation which is really nothing more than an energy tax on businesses and individuals who dare to go about their day to day lives just as they have for decades. The pie in the sky promise of alternative energy is not even such a bad thing, but we aren't going to get there if we are economically stunted. Are these Democrats this obtuse or do they actually want China to lead the way since the Chinese have no intention of shackling themselves as they ramp up for the future.

So millions of unemployed Americans and perhaps even millions more will have to wait (and suffer) because the Democrats in power want their Christmas in July. The fact that they haven't just rammed these radical policy objectives through is also telling. They can pretend it's because of the Republicans (and Fox News) but that would be a lie. The own both houses of Congress, they have a veto proof/filibuster proof majority in the Senate. The only thing stopping them is the ire of the American people.

There are tried and true ways to ease unemployment just as there are small and practical incremental steps that can be taken to reform areas of the health care system. I'm here to tell you that the Obama White House and the Pelosi/Reid Congress don't give a damn about 10% unemployment - they want their agenda advanced first.

The truly appalling thing about this is that the actual cause of the dire situation we find ourselves in has not been addressed. If anything the Obama team has doubled down on the mistakes and policy flaws that led us here. With the government acting as a backstop for all manner of poor behavior from Wall Street all way down to Rondo Ave. where the poor folk live why would anyone act responsibly. If the government is going to bailout risky investing and risky behavior at every turn then both the rich and the poor are going to take stupid (dangerous) risks - why wouldn't they?

I can't believe the Democrats are fools. They are doing exactly what they want to do. America's unemployed be damned.




CW

2 comments:

TJ Willms said...

Time to dust-off the old "Misery index?"

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