Thursday, April 15, 2010

Jobless Rate Rises

For the second straight week, the jobless rate has risen, confounding liberals and the media. The recession was supposed to be over, but I guess the people who do the hiring didn't get the memo.

I "doubt" that the recent health care legislation, with its new and confusing regulations and taxes on businesses has had any impact on the business sector and their decisions to hire, not hire or even lay off employees. Of course, we know that health care reform is going to balance the budget and save everyone tons of money.

A year ago, Dick Morris (whom I respect, but don't always agree with) predicted that the jobless rate would rise in response to the Generational Theft Act (stimulus) to around 10% nationally. He also predicted that it would stay near that rate for 2010 and perhaps beyond. Furthermore, he predicted that as we move into 2010 and 2011, we would begin to see an increasing rate of inflation that would trigger a second recession before we've even recovered from the first one.

While we've yet to see a significant amount of inflation, Morris' predictions usually tend to be pretty accurate. We've already seen gas prices rise, and the price of other goods and services usually trend upwards when gas prices go up because almost everything we buy is affected by the cost of fuel.

I'm not optimistic about our future. With the passage of health care reform, it appears the recession is going to extend into the foreseeable future, despite proclamations that it is over. We might as well get used to double digit unemployment. Unless we can reverse the damage O.B.A.M.,A. has done, it is likely to become the norm. Pollsters and other experts are backing off of predictions that the Republicans will take back the House and Senate. At best, they will neutralize the Democrats' majority, but it is highly unlikely they will get enough seats to pass their own agenda, let alone repeal any of what O.B.A.M.,A. has done (including health care).

Even looking forward to 2012, prospects aren't much better. Assuming we can get a Republican back in the White House, many of the front runners (including Huckabee and Romney) are far from conservative. They are in favor of many of the same programs and spending polices of the left, just to a slightly lesser degree.

Sorry for the "negative" post, today, but given that it's April 15 (Tax Day), perhaps some honest evaluation of where we are at economically is in order.


6 comments:

lady di April 15, 2010 at 10:26 AM  

http://ladydi-quickwit.blogspot.com/ more jobs lost

LL April 15, 2010 at 10:41 AM  

No matter how many Republicans take office, the damage remains -- TRILLIONS need to be repaid to bring any sort of balance to the nation.

That means stimulating the economy. The only way to do that is to reduce taxes, assure businesses of continuity in policy so they can predict fixed costs and in reducing government's footprint on the backs of the necks of the American people.

The US Government has a SPENDING problem.

Christian Liberty April 17, 2010 at 6:25 PM  

Actually 2012 DOES look even better than 2010.

2010 provides Republicans an excellent chance to win back at least one house of Congress, if not both... as well as a majority of governor and state legislatures (just in time for census reapportionment).

The 2010 census and 2011 realignment would alter the Congressional apportionments and districts, favoring Republicans to add another 15-25 seats on top of their majority in the House.

While the class of senators running in 2010 is evenly split between Republicans and Democrats, in 2012 Democrats will have to defend 12 more seats than Republicans... and in 2014 Democrats will have to defend 7 more seats than Republicans. Many of those seats Democrats must defend will also be freshmen from moderate to conservative states.

So, not only will 2010 be a historic landslide for Republicans, but Republicans would likely increase their majorities in the House in 2012 and in the Senate in 2012 and 2014.

Republicans in Congress would be in a good position to ensure conservative reform remains on the agenda.

The Right Girl April 21, 2010 at 8:30 AM  

I tend to agree with your more reasoned approach. It's going to take more than one election to turn around this ship. I don't know that we'll have a Republican landslide in 2010, but I do think the American sleeping giant has been roused from its complacent slumber. So the question is how do we encourage Conservatives to show up at the polls en masse?

I keep looking around, wondering where our new Reagan might be. In 1978, the idea of Reagan running - much less winning - was ludicrous. There's still time for our 2012 candidate to emerge.

I really like Paul Ryan, but he's a little green. Well, maybe not - he has more experience now than Obama did when he ran.

tha malcontent April 22, 2010 at 1:38 PM  

It all depends on who's unemployed.
Maybe CNN uses the new math. Calculation doesn't matter as long as the answer feels right.

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