I Hate to Say I Told You So…
April 30th, 2010 - 8:34 am
Good news: Economy grows 3.2%, a healthy, sustainable rate.
Bad news: A good chunk of that is illusory, borrowed from our kids, as the “stimulus” sucks the future dry to make today feel a little better.
Worse news: Unemployment remains unacceptably high (and underemployment is even worse), as businesses continue to sock money under the mattress, rather than hire new workers. Because there’s no way to tell what taxes, fees, regulations, requirements, benefits, etc., Washington is going to stick them with tomorrow. And next week could be even worse.
So, “take this job and shove it” remains the order of the day.
“rather than higher new workers”
I think you meant ‘hire’?
Autocorrect is not always my friend.
Something I’ve heard of and am in the process of confirming… the Census workers, of which are being hired at a mass of about one-half million through the stimulus-funded length of the program, is designed to set employment terms as four days a week w/o benefits. These job takers are reported to the unemployment commission as hired, but due to the lack of benefits and part-time status will NOT be classified as unemployed when the census-taking stops, causing an artificial decrease in the national unemployment numbers (no longer “first time unemployment claims”).
Some of the details of that report are interesting, such as the fact that that quoted 3.2% rate was down from 5.6% the previous quarter. On the other hand, wasn’t that rate inflated by a huge increase in government hiring?
Residential investment contracted 10.9%, and exports dropped like a rock.
But still, I think Stephen is spot-on that businesses are hunkering down. This administration isn’t that predictable, although I think Barry let the mask slip a little bit when he recently said
So now Teh Won will tell us if our success is fairly earned, and when our income is “enough.” For us. He’s really starting to piss me off, now.
Mr. President: Where, exactly, is this “certain point”? In 2007 you and your wife made $3 million. After taxes. Is that “enough money”? If it’s too much are you going to donate the excess to pay down the massive debt you’ve foisted upon future generations?
No, I didn’t think so. Apparently sacrifice is only necessary for other people.
Lets be real here. If there as a little more predictability in what Obama and Company were going to hit us with next, unemployment may not be such an issue. As it stands right now, companies are completely in the dark and I cannot say that I blame them for hoarding and stockpiling their cash. When does it end? When does the government quit trying to meet their fiscal needs on the backs of small business owners?