Obamanomics: High Taxation/Regulation+Subsidization = Long-Term Unemployment + Dependency
Next week, Senate Democrats will restart their effort to create a de facto permanent unemployment entitlement for those out of work for up to 73 weeks. Unfortunately, instead of uprooting the entire premise of the Unemployment Insurance (UI) extension, many Senate Republicans are prepared to go along with this scheme as long as the 5 month cost is offset through some notional promises of more | Read More »
The Farm Bill’s Harvest: Bigger, Costlier Government
Earlier this year, we were entreated to a vivid example of how neither party is committed to shrinking the federal government and bolstering private enterprise when they passed a five-year Farm/Food Stamp bill. CBO pegged the 10-year cost of the bill at $965 billion, up from $604 billion in 2008. Yet, the politicians sold it as an $8 billion cut because it fell short of | Read More »
A Conservative View of Dave Camp’s Tax Reform Bill
Yesterday, Congressman Dave Camp (R-MI), the House Ways Committee Chairman, released his draft proposal for comprehensive tax reform. The mere proposition of positive tax reform is a welcome development. Even though we clearly lack the votes to enact any tax reform until at least 2017, it is still important to stand on bold colors and offer an alternative vision to the current socialist path from | Read More »
Barack Obama, Karl Popper, John Maynard Keynes And The Non-Falsifiable Recovery.
“In so far as a scientific statement speaks about reality, it must be falsifiable; and in so far as it is not falsifiable, it does not speak about reality.” Karl Popper According to Whitehouse.gov, happy days are here again, and Barack Obama is pretty much The Fonz! You see, The Executive Office of The President’s Council of Economic Advisors has released a report entitled “THE | Read More »
Tags: and Money
, Barack Obama
, Garo Yepremian
, John Meynard Keynes
, Karl Popper
, Keynesian economics
, Keynesian Hallelujah Chorus
, Saint Barack The Stimulator
, The Euthanasia of The Rentier
, The General Theory of Employment
Stimulating the Leviathan State
So here we are, five years into Obama’s trillion-dollar “stimulus” program, and the only thing that got “stimulated” was the Leviathan State. I mean that fairly literally, since as Michelle Malkin reminds us, a good 75 percent of the “shovel-ready” jobs created by stimulus spending were government jobs: In 2012, Ohio State University economics professor Bill Dupor reported that more than three-quarters of the jobs created or | Read More »
Obamacare Demonstrates Why Socialists Need Both Hammer and Sickle
So President Obama has issued executive orders that directly contradict passed legislation bearing his signature. Firms employing 50-99 workers are now exempt from the penalty fines for not insuring all of their full time staff under the “Affordable” Care Act. This was as deeply generous and caring as it was constitutionally legal. But, as President Obama explains. “The great thing about being President is that I can do anything I want.”*
Firms that are larger than 99 employees aren’t President. They encounter the following restrictions to their corporate free will.
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The One Year Obamacare Waivers Are A Trap!
We now have a President who is issuing executive orders that directly contradict passed legislation. A large number of people are relieved. They are small business people who have been granted two consecutive stays of the Obamacare provisions effecting business operations that employ between 50 and 99 workers. To wit, the president has suspended by fiat the legal requirement that every small business enroll every full-time employee in an Obamacare approved plan or pay $2,000 per un-enrolled employee. The Wall Street Journal describes this order below.
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The Economist Who Predicted Obamacare’s Hit to Jobs
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss Janet Yellen’s first trip to Capitol Hill as head of the Fed, the economist who predicted CBO’s Obamacare job loss numbers and if we are doomed to become Europe.
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Obamacare And The Freedom To Do Nothing
There’s an irony in the GOP complaining that ACA lets people quit jobs. I mean, what’s wrong with freedom?
– (HT: The Huffington Post)*
So what is wrong with freedom? I’m not sure. There hasn’t been too much of it running around loose lately. Most people who think otherwise haven’t gone through DCA around 1PM any time in the last 12 years. I kid. It’s a quote from the Huffpo. I had a hard time taking that rhetorical question above any more seriously than I’d take an old Andy Kaufman routine. The important question to ask would be this: “What in the name of Glorious and Sacred Obamacare has brought forth such a bilious wellspring of Progressive brain waste?”
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The @NYTimes Touts 2.5 Million Full Time Job Losses as a Win
This morning I caught an editorial from the New York Times which just blew my mind. In light of the news that the CBO has identified 2.5 million full time jobs that will go away as a result of Obamacare, the paper of record let everyone know that this is working as intended. The Congressional Budget Office estimated on Tuesday that the Affordable Care Act | Read More »
What President Obama Will Predictably Get Wrong About Global Warming In Tonight’s State of The Union Show
Do the scientists and politicians that strongly seek to reduce Greenhouse Gasses want this goal enough to badly jeopardize US relations with Russia, China, South Korea and India? Are they so concerned about this problem that they would willingly pursue a diplomatic and trade strategy that would potentially provide any nations casus belli similar to that cited by Japan to justify the December 7, 1941 | Read More »
Missing the lessons of the NC unemployment “experiment.”
Let me get some housekeeping out of the way first. I wrote an article last year when the cutting of unemployment benefits was first proposed which made some on the left angry. Most that were upset with my take (that generally speaking, it would be good for the economy to cut it) missed the entire point which, in fact, was not an economic argument as | Read More »
Washington’s Income Inequality Debate
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the debate over income inequality, the difference between rich and poor in America and if there is a way to bridge the gap.
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Farm Bill Subsidies and the Price of Your Groceries
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the fluctuating price of corn, how farm bill subsidies impact your grocery bill and why you’re getting screwed when you buy a bag of coffee.
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US Job Market: Cloudy With A Chance of Expletive
The December 2013 jobs report was about like the December 2013 weather. It was cloudy with a chance of Expletive. Depending on whose estimate you trust more, the models missed reality by 113 to 151 thousand. I’ll credit the BLS with not hiding the decline and admitting this one was a stinker. Contrary to expert opinion, I think it would have been a stinker regardless of what fell out of the sky. If the current set of conditions indicates recovery, God preserve me from an economic relapse. I’ll detail my reasoning below.
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