Friday, July 16, 2010

" Professor Irwin Corey, New Economic Czar?"

Many years ago there was a comedian named , "Professor Irwin Corey", whose claim to fame was that he was the "world's foremost authority". The "Professor" made numerous appearances on Ed Sullivan, Jackie Gleason and the Tonight Show. He would appear in tails with a disheveled hair style and exhibit a confusing demeanor. He had a routine in which he would address questions of the day. He would answer with a hilarious display of double talk and topical jokes. If he didn't know, he would make it up! He would move the facts to support his theories to hilarious ends.

Our nation now sits on an economy that, at best, can be regarded as stagnant. Most states have unemployment rates of over 8%, and some as high as 13%. Thousands of unemployed Americans have seen their unemployment benefits expire over the last few weeks, with little hope in sight for possible employment opportunities. After 18 months of wild spending, America has made virtually no progress in the pursuit of regaining employment for those displaced workers.

Recently Vice-President, Joe Biden, has made a statement that the Obama administration has "saved" 3 million jobs in the economy. The only problem with this is that this figure is totally theoretical; there is no valid way to measure a saved job, it is totally subjective, without grounding in fact. A fact is that 2.5 million jobs have been lost, and job gains are minuscule. Obama-nomics have done more damage than repair to our national job growth. It's odd that just a few days ago, Mr. Biden said "There is no possibility of restoring the lost 8 million jobs", and now he is the smiling face of victory over our failing economy.

The Chamber of Commerce of the United States of America has serious doubts about the economic theories of the current administration. They have stated "...in just six months from now, Americans will be hit with the largest tax increase in history in precisely those areas that would have the greatest negative impact on investment and jobs....", in reference of the removal of the Bush tax cuts.

In a scathing letter to the President, the Chamber of Commerce said "...this approach has failed to return our economy to a path of robust growth...", "....policy choices are actually eliminating good job opportunities for American workers..." and,"...needlessly prolonging the economic agony of the recession for millions of Americans and their families."

Is this administration just "making it up as they go along"? Is Barack Obama expecting his followers to believe it "just because he said so". Obviously, those who have a real handle on our economy see things differently than our President. Happy faces and fanciful theories don't erase the facts of an ailing economic policy. How much longer will America travel down this path? America needs truth from our President, not spurious claims.

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