Thursday, July 3, 2008

Obama on Jobs

There's a new jobs report out saying, "About 62,000 jobs disappeared in June." Of course, an unemployment rate of 5.5%, while not ideal, isn't bad historically. 

The real news, though, is Senator Obama's reponse:

Our economy has now shed 438,000 jobs over the past six months, while workers' wages fail to keep pace with the skyrocketing cost of gas, groceries and healthcare. The American people are paying the price for the failed economic policies of the past eight years, and we can't afford four more years of more of the same.
Yes, Mr. Obama, the cure for what ails our economy is to confiscate a huge amount of money from those who actually hire people. Increasing taxes on corporations and small businesses, that will be sure to make them hire more workers.

Sen. Obama has promised change. I didn't realize turning a limping economy into a depression was what he had in mind.


Vinny said...

We've tried cutting taxes for the wealthy and running huge deficits and it didn't produce prosperity. Maybe another approach is worth a shot.

ChrisB said...


We cut taxes for everybody, not just the wealthy. But, yes, our elected officials have problems spending too much money. Is that why our economy is limping?

Well, probably in part -- our dollar is falling, and that is no doubt related to our nation's debt problem.

But the other part is that we've let our oil supply become terribly imbalanced -- thank you, Democrats. (It's worth noting that it's been about 10 years since we first starting talking about drilling in ANWR; they said it wouldn't produce any oil for 10 years -- and now would be a great time to have some extra on the market.) Thanks to sky rocketing fuel and energy costs, the cost of everything is going up while the value of the dollar is going down.

Now that our economy is limping, credit is getting harder to come by, and the dollar doesn't buy as much from abroad, Sen. Obama proposes taking a huge amount of money out of our economy. That is not going to produce prosperity. We've tried it before, and all it's done is kick our economy while it's down.

Vinny said...

It is sadly true that the nature of politicians is to spend money, however, it only seems to be the Republicans who embraced the fanatasy that they can endlessly spend money without corresponding revenues. There will undoubtedly be pain as a result, but the deficits are not the Democrats' fault.

Jimmy Carter believed that America needed to make sacrifices to wean itself off foreign oil, but the American people did not want a President who suggested that they could not have everything they wanted whenever they wanted it. So they elected Ronald Reagan instead with his sunny optimism who cut taxes and increased deficits. The idea of energy conservation went out the window and Hummers and SUV's rule the roads today.

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