Perhaps you've heard the metaphor of one bad strand having the power to destroy the beauty of an exquisite tapestry?
Showing posts with label Associated Press. Show all posts
Showing posts with label Associated Press. Show all posts
Friday, October 16, 2009
Not One Shred
Labels:
Associated Press,
Bob the Builder,
Fairey,
Falzone,
HOPE,
Obama,
Yes We Can
Friday, September 4, 2009
Quote of the Day - VP Biden
You can't make this stuff up.
Well, you could - but why bother? Real life is just as, if not more, entertaining.
This comes from our Vice President, Mr. Joe Biden. He's been on a mission to glorify the "success" of the various stimulus packages. With unemployment now at 9.7% and still climbing, the stimulus packages have already failed on at least one of the key claims - that unemployment would not surpass 8% - so I'm still not clear on exactly which points Mr. Biden marks the success.
You may recall from a couple of my earlier posts on the subject [A Not-So-Stimulating Post, That Makes One of Us, FDCO Volume Two, and My Share?] that I believe the stimulus money was not allocated to areas that would actually stimulate the economy. Much of the money was assigned to unemployment benefits, food stamps, and Medicare. Perhaps it is just semantics, but to me, "stimulus" implies some relatively small action that sparks a much larger, mostly self-sustaining reaction. Like providing the spark to ignite a fire.
This is from Brett J. Blackledge of the Associated Press.
Biden exercised some restraint in his praise for the stimulus' impact. He took a more cautious approach, for example, when asked if his declaration of stimulus success means Americans can now rethink the common view that government is wasteful and inefficient. [italics mine]"I think it's too early to make that decision, to be very blunt about it, " he said.
That's a classic. Biden: we saved all of humanity from economic implosion, but let's not get too carried away with the praise.
Thursday, July 9, 2009
Who's Driving This Apple Cart?
nq93guamrx
Associated Press reported today that 'new jobless claims plunged to their lowest level since January'. Naturally, my interest was piqued considering the recent rise in unemployment to 9.5%, so I clicked on the link.
Turns out reality is not nearly as good as the headline led me to believe. New jobless claims were still near 565,000, and were only that low due to the holiday weekend and 'the timing of auto industry layoffs'.
Here's the ridiculous sentence in the article that prompted this particular rant:
"Continuing claims... unexpectedly jumped to a record-high." (emphasis mine)
- Christopher S. Rugaber, AP
'Unexpectedly'?
Unexpected by who? Certainly not by any person that's taken a moment to consider the situation.
When a person can now draw unemployment for more than a year - up to a year-and-a-half in some states - much of the incentive to not file a 'continuing claim' is removed. I don't think the record high of continuing claims is in the least bit unexpected by anybody. Do you?
I sympathize with those that have lost their jobs and really do want to work. This is a tough job market right now. But the unemployed do not need incentive to remain unemployed - they need a job. Private enterprise creates jobs. That is where the focus must be placed. If all of that extra unemployment financing were redirected to provide incentives for business to set up/stay/grow operations here in the U.S., that would provide a real solution. That would retain jobs, create more jobs, and generate more tax revenue for the government through higher levels of employment.
Instead, it seems like every proposal today is destructive to capitalism (see Cap and Trade, Universal Health Care)
Subscribe to:
Posts (Atom)