Obama’s approval rating on the economy is at a new low. (GOP approval rating and Tea Party approval ratings are also at new lows).
There is real economic fear now after the debt ceiling debacle.
Obama has a new “jobs” message, emailed from the White House. Here are the bullet points (my comments in parentheses):
1. Pass new trade agreements (which offshore major U.S. industries);
2. Payroll tax cut to allow more consumption (instead of production, which we need to revitalize the economy);
3. Extend unemployment benefits (no comment);
4. Patent reform bill must be passed (which allows Microsoft an advantage over small inventors);
5. Pass a road construction bill (actually, infrastructure is a pretty good return on investment as per the data);
6. Help veterans returning from Iraq and Afghanistan find work (umm, we need job availability to do that).
So the economy is tanking and Obama’s approval ratings are tanking. This list is a disgrace. The people surrounding Obama have zero ideas on jobs. The head of Obama’s Jobs Council, Jeff Immelt, runs a major offshoring company (GE). Other members of the Jobs Council are financial leaders that think a new, albeit dicey, mortgage product is “innovation”.
Then we have Boehner and Tea Partiers with the tax cut message to create jobs. If tax cuts created jobs, we would be rolling in new jobs after the Bush income tax cuts. But companies receiving a $300 or $3000 tax benefit can hire no new workers, as compared to companies that get more orders for their products that value $300,000, for example. You can’t hire if you can’t sell products due to foreign mercantilism. If you want tax reform, consider a value added tax like successful trading nations have.
The debt ceiling debacle took all the air out of the room. We shouldn’t even have heard about the debt ceiling being raised. Reagan and Clinton both raised the debt ceiling. Reagan raised it 18 times. I don’t know how many times Bush II raised it, but he did.
We need a dynamic strategy to produce more in this country. Capture major value add in major industries… the full supply chains. We need to not only innovate but deliver the technology to companies that produce here in the U.S. We need to neutralize the state managed capitalism that is cherry picking our industries.
Leaders of the past created great industries in this country. Boeing and RCA all were built as part of a national defense strategy. We were a net exporter of goods because of home grown mercantilism, overcoming the Brits with their failed, newfound free trader mentality that tanked them.
Now our leaders feed us red herrings. Every day.
We need to lead our leaders. You all should join CPA so we can do this together.