Friday, August 5, 2011

If I were President, here's what I'd do to create jobs and turn the economy around....

News flash! Our economy is in the tank. Yesterday, August 4, the stock market suffered the worst sell-off since the 2008 financial crisis, down 513 points. 
We are 10 million jobs short of full employment, and the fraction of adults at work full-time is at a 28-yr. low.  Yesterday,  Jake Tapper of ABC News asked Press Secretary, Jay Carney, what the President was doing to help create jobs. Carney's response was telling. He said: "Uh...uh...uh...uh...uh...uh....there is no silver bullet."  He went on to blame our poor economy on the Arab Spring, the Japanese Tsunami, and the European Economic Crisis. At least, they're no longer blaming George Bush (for now).  

We have a President who has publicly stated that the first thing on his mind when he wakes up and the last thing on his mind when he goes to bed is how to create more jobs. That's when he's not on vacation or out golfing, or attending a fund-raising dinner, or hosting a pop concert at the White House. 

Obama repeatedly says he's tried everything and that if you  (or I) have any ideas on how to stimulate this economy and create more jobs, he's open to hearing them. Sorry Mr. President, but once again, you are being disingenuous (look it up) because the ideas I'm proposing, if implemented, would reduce our unemployment to well below 4% while reducing our national debt due to increased revenue from the 10 million new jobs that would be created. However, none of my ideas are new. They've already been offered in writing to Obama by the Republicans, and he has rejected every one of them. He's not really open to any new ideas, only HIS ideas or ideology. 

But, if I were president, here's what I would do to turn our economy around:

1. Kill Obamacare. I'd simply admit that it was a bad idea. Obamacare with all of its uncertainty and hidden mandates, hidden taxes, etc. is keeping companies from hiring or expanding. They have no idea what future costs will be because we still haven't experienced the full impact of Obamacare.

2. Remove Lisa Jackson from her post at the EPA and de-fund the EPA. The Environmental Police Authority is a now a political movement bent on destroying private property rights and capitalism.  EPA's regulations will cost the coal industry 200 billion dollars and cause our electric rates to skyrocket. It's estimated that the EPA's regulations cost 1.4 million jobs and a 12% increase in utility bills.

3. Cut or eliminate most federal regulations. Regulations force oil drilling in deep water when it is safer, cheaper and easier to drill in shallow water. The BP oil spill never would've happened if they had been allowed to drill in shallow waters. Regulations even prevented the Dutch from responding to the BP oil disaster. It could've been contained within the first 2-3 wks. except for our regulation and enslavement to the unions which kept us from accepting help from the Dutch. 

Toilets, showerheads, light bulbs, mattresses, washing machines, dryers, cars, ovens, refrigerators, television sets, and bicycles” all cost much more because of questionable regulations. It is estimated that the cost of regulation is a drag on U.S. businesses to the tune of 1.75 trillion a year, twice the amount of individual taxes collected last year! Thanks to the EPA, they will soon enjoy higher prices for cars, food, appliances and mortgages.

4. Cut the corporate tax rate from 35 percent to 15 percent. Currently, we have the 2nd highest corporate tax rate of the top 30 most economically developed countries in the world. This tax rate is driving businesses to locate the facilities overseas. And we are the ONLY country in the world that taxes its businesses on what they earn overseas.

5. Finally, Drill Baby Drill. 
When Obama took office, the price for a gallon of gas was $1.84 per gallon. Today, the average price is $3.86 per gallon. According to the non-partisan Congressional Research Service (CRS), America’s combined supply of oil, coal, and natural gas is the largest on Earth. Put another way, America’s recoverable resources are far larger than those of Saudi Arabia, China, and Canada.

    According to economist Joseph Mason at Louisiana State University, the drilling moratorium in the summer of 2010 eliminated 20,000 jobs in the Gulf of Mexico. Mason also noted that unemployment in Louisiana alone jumped from 6.2% when the moratorium was announced to 8.1% in October when the moratorium was officially enacted. By the way, during the embargo, Pres. Obama told was in Brazil telling the Brazilian people how he just couldn’t wait to help them drill for oil off their shore. 
      The Wall Street Journal estimated that our drilling moratorium both offshore as well as on land in places such as Anwar in Alaska will cost us over 1 million jobs over the next five years.

      These are my ideas for turning our economy around. Do you think they might "work"? While Obama is occupying the White House, we won't be given a chance to find out. 

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