President seeks an elusive Silver Lining on Thursday, Sept. 8th, with his jobs address before a Joint Session of Congress

September 5, 2011

By now the only folks who have not hear the facts about the dismal August jobs report released last Friday, September 2nd, must be those living in caves without electricity or communication with the outside world.

Likewise making the rounds of TV and radio news outlets and newspapers across the country was the kerfuffle regarding the night President Barack Obama would be presenting his jobs program to the American people in front of a Joint Session of Congress.  The White House said it was a mere coincidence that Obama asked to deliver his jobs speech to Congress at the same time the GOP debate was scheduled on Wednesday, September 8th, before an agreement was finally reached to move President Obama’s address to the following evening.

For those of you who possibly sleepwalked through the day of September 2nd, the release of the August, 2011 jobs report was an alarming setback for this nation’s economy that brought with it renewed fears of a Recession Part 2 or did the recession that started in 2007 really ever end?

Even Goldman Sachs has expectations of a tremendous financial collapse.  Folks at the Wall Street Journal got their hands on a copy of an August 16, 54-page report written by Goldman strategist Alan Brazil that was to be distributed only to institutional clients, in which Goldman Sachs expressed its belief that an economic collapse was coming.

It would not be unreasonable to conclude that given our huge national debt, with little hope that legislators will have either the spine or the desire to make drastic budget cuts, this nation is in for a long-term contraction (and deflation) like in the 1930’s.

Perceived as the worst jobs report since September of 2010, with a net jobs gain of ZERO and the unemployment rate remaining fixed at 9.1%, the Dow Jones industrial average plunged 253 points by the end of the trading day on Friday, Sept. 2nd, or more than 2%.

The 9.1% unemployment rate represents fourteen million individuals.  An additional 11.4 million are either working part time and are unable to find full time jobs or have given up looking for work.  These individuals are NOT counted among the unemployed.  Among blacks employment rates continues to be higher than the 9.1% rate.  In August black unemployment surged to 16.7%, its highest level since 1984.

The employment news could not have been worse for President Obama as he headed off to Camp David on Marine One last Friday afternoon for a two-day respite from Washington D.C.  But a bit of bad luck followed President Obama.  Not only had Obama recently been blown off course by strong headwinds from his political opponents, but last minute bad weather diverted Marine One to an alternate landing area in Fredrick, Maryland, where a motorcade transported Obama the remaining forty-two miles to Camp David.

Might Obama’s less than pleasing double encounters on Friday, September 2nd, have served as a forerunner of an omen predicting failure that possibly awaits the proposals contained within Obama’s anticipated and long-promised jobs plan address?  Is it even possible for Obama to present a clear plan with clear results given a Left-wing base that keeps nipping at his heels to continue the same policies, but with even larger dollar amounts, which were set in motion but failed during the last two years?

Much has been made of the logistics and the agenda of Obama’s jobs plan in recent days. Hyped by the mainstream media and the White House, Obama’s Thursday night address has been touted as the “be-all and end-all” of his jobs plan.  It should not come as a surprise that his aides are now downplaying the significance of what the president will be talking about despite the buildup.

According to Fox News, aides to President Obama are privately spreading word that President Obama will not be presenting his entire jobs plan, but that instead Thursday’s speech will be part of a bigger plan the White House plans to roll out throughout the fall when Obama hits the road for speeches and town hall appearances.  One three-day swing, slated as economic events with some fund raising included, is already scheduled for later in September to the states of California, Colorado, and Washington.

Whether or not President Obama offers substantial proposals to create jobs on Thursday night remains to be seen. What seems certain, however, is that Obama’s address and his followup tours are replete with political overtones.  After all, President Obama must be portrayed as trying to stay all over the economy as he heads into what could likely be an uphill re-election battle.

But a dichotomy exists despite the perception by the public of a weakening economy.  According to a new AP-GfK poll conducted by GfK Roper Public Affairs and Corporate Communications from Aug. 18-22, 86% percent of adults see the economy as poor, up from 80% in June, and more than 6 in10 disapprove of the president’s handling of the economy.

The same poll also indicates that there has been no significant change in the number of people who still think that Obama deserves re-election.  Current opposition to President Obama’s re-election stands at 47 percent as compared to 48% in June.

Even more disturbing, and irrational, is how more Americans still blame former President George W. Bush rather than Obama for the economic distress, 31% to 51%.  Obama also fares better than Congress in the blame department.  As to creating jobs, some 44% of individuals would trust Democrats to do a better job, compared to 42% for Republican leadership.  How has the Republican leadership allowed this to happen?

As to the jobs agenda Obama will reveal this coming Thursday in an attempt to lift the nation out of its unemployment doldrums, there is a good chance his address will amount to little more than a political speech with few proposals to stimulate jobs or to help ease unemployment.  Instead, there will be a rehashing of the same expensive, ineffective policies that have been tried and failed before in the last 2-1/2 years under the Obama administration, stemming from a belief that through the sheer force of spending taxpayers monies, the economy can be turned around.

There is a good chance that President Obama’s Thursday night jobs address will contain the following key proposals:

1.  The Extension of Unemployment Benefits: According to The Morning Bell Heritage Foundation report of 3/20/11, unemployment extensions only tends to increase the length of unemployment by discouraging the search for new jobs.

2.  An “Infrastructure Bank”:  Rumored to be a central proponent of the President’s job program, it would set up a public-private partnership designed to fund the nation’s aging roads, bridges ,railways and other vital structures, which would directly benefit the union membership of AFL-CIO president Richard Trumka.

3.  Alternate Energy Projects:  Billions of dollars of investments into alternative energy projects with the goal of creating green jobs, notwithstanding the fact that CA-based solar panel manufacturer Solyndra recently went bankrupt, putting about 1,100 people out of work, despite having received a $535 million taxpayer funded loan.

4.  Recommended Cuts of More Than $1.5 Trillion by the Super Committee:  According to Politico, Obama will challenge the 12-member “congressional super committee” to exceed their $1.5 trillion budget savings goal, but Obama will not be specific with his own deficit recommendations until after his speech.

More of the same failed Keynesian experiments are not needed.  It is also unlikely that a bi-partisan group of evenly divided legislators, with different views on how to stimulate jobs and the economy, will be able to deliver balanced and meaningful bi-partisan results by Thanksgiving that will result in making but a dent in what has become an overwhelming and unsustainable national debt.

And all this is from a man who promised to “focus like a laser beam on the economy” is elected.

Yet unaccounted for by President Obama is why in August of 2011 unemployment figures are skyrocketing, gas prices are one dollar per gallon higher on average than they were last summer at this time, consumer confidence is in the dumps, and this nation has suffered a major credit downgrade?

Will President Obama get away with peddling the myth that the only way to save the economy is to spend more?  OBAMANOMICS has failed, as has President Obama’s redistribution policies.

Just as the White House and President Obama blamed the Bush administration for the mess the economy was in when Obama took over the presidency, it is certain that the Tea Party will become the new scapegoat of the Left base when another round of Keynesian polices fails to produce jobs and stimulate the economy.

The cry from the political Left, many of whom are demanding even larger stimulus packages this time around than before, will be to blame the Tea Party and its Tea Party-elected members of the House for not allowing their policies to be enacted.

A recent Heritage Foundation report tells of another way to go: “freeing America’s small businesses from the day-to-day shackles of existing over-regulation, freeing families and entrepreneurs of the threat of higher taxes, and cutting spending to eliminate the constraining fear of America’s debt crisis.”  According the same Heritage report, “Zero job growth does not have to be America’s reality, but changing course will mean ditching the dream that more government spending will save the day.”

It was announced on September 1st that Speaker John Boehner will give his own jobs speech at 1:00 p.m. on Sept. 15th at The Economic Club of Washington with details of the speech to be released closer to the date.  The speech comes as Republicans move forward with a fall agenda intended to highlight their efforts to help the economy.

Whoever becomes the Republican nominee for president 2012 has lots of explaining to do to the American people.  He/she must be up to the job of informing and educating the public about policies that will actually create jobs and spur economic growth.

If not, Republicans must accept what will result if this nation is subjected to another four years of failed OBAMANOMICS, which, in turn, will result in a country that no longer resembles the nation conceived by our Founding Fathers — a nation grounded in God and with Godly principles with the promise of freedom and liberty to all — where its citizens remain free to determine their own futures absent government control of their lives, in contrast to a nanny-state government that claims to know what is best for its citizens.


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