Friday, October 14, 2011

Definition of Insanity, and a Rational Plan

President Obama keeps doing the same thing expecting a different result.

The previous stimulus efforts failed to start the economy, but he says lets try again with the another stimulus bill

According to President Obama, the 'jobs bill' will spend $447 Billion to create 2 million jobs, or about $230,000 per job.  Carl already has the analysis on the sanity of that investment.  Like crime, it doesn't pay.  However, Bloomberg's analysis suggest that Mr. Obama has his decimal in the wrong place, it will probably create only 250k jobs, not 2 million.

Never mind that the investment isn't appropriate use of our money.  It isn't really what the President is trying to do.

"Obama said 35 million Hispanics would benefit from the combination of tax breaks and direct government spending in his plan."

Whoops!  Its another income transfer program.  How about A Rational Jobs Plan from Senate Republicans instead.

Here "are some of the highlights of the Real Jobs Plan and some estimates of the jobs impact:"

  1. Lower the corporate tax rate to 25 percent, resulting in an additional 581,000 jobs per year, on average
  2. Reduce the tax on foreign earnings brought back to the U.S., resulting in 2.9 million jobs
  3. Repeal Dodd-Frank, estimated to cost the U.S. 4.6 million jobs by 2015
  4. Repeal ACA, estimated to cost the U.S. economy at least 800,000 jobs
  5. Lift the offshore drilling moratoria, resulting in 1.2 million U.S. jobs
  6. Prohibit the EPA from regulating greenhouse gases, estimated to cost the economy 1.4 million jobs by 2014
  7. Ratify, immediately, the free trade agreements with South Korea, Colombia and Panama, resulting in 250,000 new jobs
Of course, No. 7 has finally occurred after five years of unnecessary delay. Let us hope that the first six do not meet a comparable fate.

Makes sense to me.

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