In the latest jobs report, the unemployment rate dropped to 7.6 percent, but only 88,000 jobs were created, an anemic number that is only one-third of last month’s total.
More ominously, 663,000 Americans left the workforce altogether. According to the Labor Department an astounding 90 million Americans are not in the workforce. This translates into a labor participation rate of 63.3 percent, the lowest since 1979, in the midst of the Carter administration.
Obama and Carter share the same liberal philosophy that more government will solve almost all of our problems. Carter ruined the economy in the late 1970’s and he was replaced by a true conservative, Ronald Reagan, in the 1980 election. Reagan fostered two decades of economic growth by instituting sound conservative policies.
Unfortunately, Americans decided to ignore the horrible economic record amassed by Barack Obama and elected him to a second term. The country will spend the next four years regretting that decision.
Obama has pushed through a stimulus bill which added to our national debt, but produced no “shovel ready jobs.” He has increased the national debt by more than $6 trillion to the current level of $16.7 trillion. This debt level will only increase because his signature legislation, the Affordable Care Act, will add over $1 trillion more to our national debt, while crippling our healthcare industry in the process.
This week, it was reported that our nation will suffer from a shortage of 45,000 doctors by 2020. In their place, will be less trained nurse practitioners and “navigators” who will be paid handsome sums to help Americans understand the needlessly complicated healthcare legislation. These “navigators” will be hired among the ranks of union members, Planned Parenthood supporters and ACORN associates. It is a true payoff for liberal supporters of the President.
The new healthcare law will also require retail outlets to provide health insurance for employees, which is one reason why so many jobs have been lost in that sector. The March labor report shows that the retail sector lost 24,000 jobs. Obviously, retailers facing decreasing margins and jittery consumers are jettisoning thousands of jobs. They cannot afford to offer healthcare to retail workers, especially in an environment when Americans are being careful about their spending habits. This sector is critical for our economy for consumer spending accounts for almost 70 percent of the country’s overall economy.
The distressing numbers make sense for Americans are dealing with increasing healthcare costs as premiums are rising due to the Affordable Care Act. In addition, the payroll tax hike that was instituted in January has led to less disposable income for Americans to spend on discretionary items like clothing and electronics.
Along with the payroll tax hike, the President and his supporters forced through Congress an income tax hike for “wealthy” Americans. Millions of these upper income Americans, who own businesses and employ workers, will trim expenses and jobs due to the misguided tax hike. Incredibly, the President will call for more tax hikes in his new budget. Hopefully, Republicans will stand firm and prevent another increase in taxes that are already too high.
The focus of the President and Congress should be on how to entice 90 million Americans to rejoin the workforce. Our country cannot prosper economically if so many Americans are either content to collect government benefits or are too discouraged with the poor job environment to look for work.
Our workforce needs to expand, not contract, but with millions of baby boomers set to retire and good jobs being scarce, our economy is on very shaky ground. It is time for bold new policies to grow our economy, but Obama is only offering more tax and spend nonsense.
Sadly, we were being led by a President who rivals Jimmy Carter for sheer incompetence. America only had to tolerate Jimmy Carter for four years, so how are we going to survive eight years of Barack Obama?
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