Well, tonight we heard yet another ineffective speech by the president. It seemed completely disorganized and he was all over the map. With all the rhetoric in this speech, I could hardly remember the main points of his plan, other than extending unemployment for another year. How is that going to create jobs?
He did include various tax credits for businesses who hire new employees, as well as extending the payroll tax credit. But will any of this work? The fact is, companies aren’t hiring because they’re afraid of what will come next. The government has placed so many regulations on business, that they’re afraid to expand, or they’re sending their jobs overseas.
Here is another issue I have with this proposal. Obama said companies
will get a tax credit of $4,000 for hiring someone who has been
unemployed more than 6 months. So, what are the odds a company may pass on a well-qualified candidate who recently became unemployed, and
hire a less qualified applicant in order to get a $4,000 credit? Isn’t that
a form of affirmative action?
He claims this bill of $447 billion will be paid for by additional cuts
by the Super Congress. If you believe that’s going to happen, I have a
Of course, he also managed to work his pro-union plug in and make a jab about Republicans trying to strip away collective bargaining. We expected as much.
I must say, I just loved the feigned anger here. His efforts to sound firm and tough were laughable. I actually thought I saw his eyes roll to the back of his head a couple of times. So, where was this sense of urgency 2 years ago? And wasn’t he just trying to convince us the economy was getting better? Which is it? This is just too little, too late, Mr. President. The American people are not buying it.
This was nothing more than what we predicted….a dog and pony show. It was a campaign speech, plain and simple. As usual, in anticipation of Obama’s speech, the market was down yet again. We’ve seen a pattern of this. Nearly every time Obama gives a press conference or speech on the economy, the market tanks. No Confidence. That’s what it all boils down to. It’s a confidence game. Have they learned nothing in 3 years?
According to the AP, this jobs bill may not be paid for after all. Say it ain’t so….