tidbit-Progressive Capitalism

Follow this-
1. His Presidency is elected.
2. Economic Crisis He must act.
3. GM is failing, Government gives it $$ billions.
4. GM still bleeds money.
5. Government gives even more $$ billions. Effectively bailing out the UAW and not the company.
6. GM files for bankruptcy.
7. His Administration runs GM; they think they can run GM better than businessmen, ie GM czar Deese.
8. The American Taxpayer is now backing GM.
9. The Government thinks it will become profitable with their leadership.
10. GM starts making money again; they believe.
11. Progressives now have a well of money to draw from for their "projects".

The scary part is that it might work.
Think Chinese leaning toward Capitalism, sort of.

We Need to Pull Out of the Recovery Act

Obama Calls On Congress to Act Fast on Stimulus
"The nation's unemployment rate surged 0.4 percent in October, topping off at 6.5 percent, the highest level in 14 years. Many economists think the nation is headed for 8 percent unemployment, a figure not seen in a generation."

The Job Impact of the American Recovery and Reinvestment Plan
Christina Romer (His Council of Economic Advisers)
Look at this report, specifically Figure 1 on Page 5. Look at the figure on this posting. I've superimposed the actual unemployment rate in red.
So, considering the Plan has passed and without it we would have had less unemployment...why did His Presidency push it so hard. The Recovery Plan was never about job creation. Otherwise, the $787 billion to create 3.5 million jobs, would have gone directly to the unemployed to last them the three years it would take to get back to normal. $780 billion divide by 3.5 million equals $222,860 per job, divide that by three years and each unemployed would have had $74,290 a year to live on... ($7 billion is generous for program operations) But, it wasn't about jobs and keeping people afloat. It was about keeping more State, County and Local governments as well as private businesses on the Plantation.
Oh, the co-writer for this report was Jared Bernstein (Office of the Vice President-Elect) so this might be just another gaffe.


Jobless rate hits 9.4 percent in May; layoffs slow

According to the numbers given us at the beginning, we are now above the estimated unemployment rate numbers if we did nothing, and quicker than expected. So, either the Recovery Act has accelerated unemployment or the original projections were off and we plunged head first into a Recovery Act with bad numbers. This smacks of Iraqi WMDs. Progressives love to harp on the Bush Administration saying they lied about WMDs, the reason we went into Iraq and that we need to leave Iraq because we were lied to.

We were lied to when His Presidency told us (through His Council of Economic Advisers) that if we pass the Recovery Act, the unemployment rate would not reach 8%, we are now 1.4% above that mark. We were lied to and need to pull out of the Recovery Act. This is an immoral Act that has lost too many jobs and for what? Where's Cindy Sheehan.