Let’s Play “Obama Says”

Today after the ugly employment report, Obama held a Rose Garden presser at the White House. He was late as usual.

Let’s analyze his points, point by point as to why the jobless rate in the US is so “unexpectedly” high. Even after over a trillion in stimulus.

Point one: The debt ceiling debate has created uncertainty among employers.

This is a laughable throw away line. All Americans are worried about the debt and have been for a long time. Finally, politicians feet are being held to the fire and they might actually do something real about the debt. 2010 was the election that changed that.

Truth is, the average employer doesn’t care about the debt ceiling. They only care about the marginal cost to hire an employee.

Point two: Create an “infrastructure bank”

In other words, create a government bank to bankroll government programs. What could possibly go wrong? This idea is pretty stupid and it’s merely a talking point to make the President look like he is coming up with an idea. It’s more of the same. We never had “shovel ready” projects and most of the ones they did were make work projects.

Point three: Pass Trade Agreements

There are at least two trade agreements stalled in the Senate over one thing. Organized labor. Obama and the Democrats won’t let the trade agreements go through without concessions to organized labor. Last time I checked, that’s not free trade. It’s directed trade and directed trade never works.

Point Four: Continue the Payroll Tax holiday

Because it’s a “holiday” and not “permanent”, it doesn’t alter employers behavior. They know the tax will be reinstated. Obama would be better off ending the holiday, and reforming social security so that we could have a much lower tax in the future. Again, another hocus pocus dominocus, smoke and mirror sleight of hand to distract people from the real underlying problem-too much government intervention in our private economy.

The press conference was yet another attempt by the President to deflect blame. He needs to remember that when he points a finger, there are three more pointing back at him.

This is the Obama Economy, and it stinks.

Read more at Points and Figures