Archive for the ‘Job creation’ Category

5 years later: How’s that Wreckovery working out for ya?

by Michelle Malkin on Friday, February 14th, 2014

This is article 383 of 390 in the topic economy
 From the 2009 MichelleMalkin.com Wreckovery logo contest


From the 2009 MichelleMalkin.com Wreckovery logo contest

5 years later: How’s that Wreckovery working out for ya?
by Michelle Malkin
Creators Syndicate
Copyright 2014

On Feb. 17, 2009, President Obama promised the sun and the moon and the stars. That was the day, five years ago, when he signed the $800 billion “American Recovery and Reinvestment Act.” President Modesty called it “the most sweeping economic recovery package in our history.” He promised “unprecedented transparency and accountability.” He claimed the spending would lift “two million Americans from poverty.” Ready for the reality smackdown?

The actual cost of the $800 billion pork-laden stimulus has ballooned to nearly $2 trillion. At the time of the law’s signing, the unemployment rate hovered near 8 percent. Obama’s egghead economists projected that the jobless rate would never rise above 8 percent and would plunge to 5 percent by December 2013. The actual jobless rate in January was 6.6 percent, with an abysmal labor force participation rate of 63 percent (a teeny uptick from December, but still at a four-decade low).

Five years after the Recovery Act, 10.2 million people are out of work. The number of able-bodied Americans who have simply given up looking for work or are “not in the labor force (but) who currently want a job” has exploded. By some estimates, a record 90 million-plus people are hopelessly sitting on the sidelines.

The unemployment rate for black Americans is 12.1 percent: nearly double the national rate. The Obama campaign excoriated President George W. Bush when it exceeded 10 percent under his watch. The black teen jobless rate is now a whopping record 38 percent. Some 50 million Americans remain below the poverty level. And 47 million are now on food stamps, a third more than when Obama first took office in the halcyon days of Hope and Change.

After $150 billion in stimulus and other spending on green energy boondoggles, what does the White House have to show for it? According to The Green Corruption Files blog, 32 Obama-backed environmental firms have gone bankrupt as of February 2014. These include crony-clogged Solyndra at a cost to taxpayers of $535 million; Beacon Power, $240 million; Abound Solar, $400 million-plus; Fisker Auto, $529 million; A123, $250 million; ECOtality, $100 million; and Ener1, $118.5 million. In addition, 22 other Obama green energy projects are now in dire financial trouble.

Unprecedented transparency? Section 1513 of the Recovery Act required the White House to submit a progress report every three months. Last year, blogger Doug Powers noted: “Under their own guidelines, the administration should have released 14 of these reports by now, but they’ve only submitted eight of them for public review.” Whatevs.

Obama promised an avalanche of “shovel-ready” jobs to build vital infrastructure before signing the Recovery Act. Instead, stimulus money went to wasteful makework and non-work, including: bridges to nowhere; a California project to photograph ants; a University of North Carolina computerized dance program; a privately owned martini bar and Brazilian steakhouse in Missouri; a bogus New Hampshire beauty school; and renovations to Vice President Joe Biden’s favorite Amtrak train station in Delaware.

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Worker says hours cut due to Obamacare; Obama cites as reason minimum wage has to increase

by Doug Powers on Sunday, February 2nd, 2014

This is article 175 of 189 in the topic Government Regulations

During a “Google Hangout” on Friday, President Obama heard from somebody who said he was a fry cook who’s had his hours cut from full time so the place he works could “avoid paying health care” (presumably due to Obamacare regs). President Obama’s answer? That’s why we have to raise the minimum wage.

This exchange takes place at about the 14 minute mark of the video below (partial transcript):

Question: Good afternooon, Mr. President. My name is Darnell Summers, I’m 57 years old, and I work in the fast food industry. I have been on strike four times — I’m only making $7.25 an hour — I’ve been on strike four times in association with Wisconsin Jobs Now to try to get a increase in wages and a fast food union, with no prevail. My question to you is, what can you and Congress do, to help people as myself, in this situation … survive. Because with $7.25 — and we were broken down to part time to avoid paying health insurance — we can’t survive. It’s not living.

Obama: Well, Darnell, I agree with you. And on Tuesday in my State of the Union I talked about this. We’ve got to make sure the economy is growing and creating jobs. We gotta make sure folks have the skills to get those jobs. But we’ve also got to make sure that work pays. And the minimum wage in this country has not gone up in a very long time. It’s actually worth about 20 percent less than when Ronald Reagan came into office back in 1980. And, I think, the one thing Americans agree on is that if you work full time in this country you should not be in poverty when you’re raising your family.

Because 40 hours a week at $7.25 an hour is so much worse than 28 hours a week at $10.10?

“On Tuesday in my State of the Union I talked about this.” In the SOTU, Obama talked about people getting their hours cut due to Obamacare? Must have missed that.

If raising the minimum wage to offset the hour cuts and other hits to the economy Obamacare hath wrought, pretty soon the minimum wage is going to be $25 an hour and they’ll still be pretending not to know why so many people remain worse off than ever.

A different person had this hard-hitting question:

“Hello, Mr President, this is about the coolest thing ever,” he said, explaining that “out of a million [questions] that I’d love to ask you over a beer somewhere,” one stood out:

One man to another, one father to another, one American to another… How are you? … Is everything good with you, man?

Get that man a chair, White House Press Corps.

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Standing up against wealth-shaming

by Michelle Malkin on Wednesday, January 29th, 2014

This is article 76 of 82 in the topic Redistribution of wealth/socialism

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Standing up against wealth-shaming
by Michelle Malkin
Creators Syndicate
Copyright 2014

America, we have a bullying epidemic. No, not the school bullying issues that get constant attention from Hollywood, the White House and the media. No, not the “fat-shaming” and “body-shaming” outbreaks on Facebook. The problem is wealth-shaming. Class-shaming. Success-shaming.

The State of the Job Creator is under siege.

Last week, a prominent self-made tech mogul dared to diagnose the problem publicly. His passionate letter to The Wall Street Journal decried the “progressive war on the American 1 percent.” He called on the left to stop demonizing “the rich,” and he condemned the Occupy movement’s “rising tide of hatred.”

The mini-manifesto was newsworthy because this truth-teller is not a GOP politician or conservative activist or Fox News personality. As he points out, he lives in the “epicenter of progressive thought, San Francisco.” No matter. The mob is shooting the messenger anyway. But maybe, just maybe, his critical message in defense of our nation’s achievers will transcend, inspire, embolden and prevail.

The letter-writer is Tom Perkins, a Silicon Valley pioneer with an MIT degree in electrical engineering and computer science and a Harvard MBA. He started out at the bottom at Hewlett-Packard, founded his own separate laser company on the side and then teamed up with fellow entrepreneur Eugene Kleiner to establish one of the nation’s oldest and most important venture capital firms, Kleiner Perkins Caufield and Byers.

A hands-on dynamo, Perkins immersed himself in the science and technology of the companies in his portfolio. He even accompanied them on sales calls. He poured his heart and soul into the business of business. Perkins achieved great wealth for himself, his partners and his clients — and the world is a better place for it. Kleiner Perkins’ groundbreaking investment in Genentech planted the seeds of the biotech revolution. An MIT profile notes that in its first three decades, the firm “made more than 475 investments, generating $90 billion in revenue and creating 275,000 jobs” and “funded 167 companies that later went public, including Amazon, AOL, Genentech, Google and Netscape.”

Because he dared to compare the seething resentment of modern progressives to Kristallnacht and Nazi Germany, the grievance industry attacked Perkins and dismissed his message. His former colleagues at the venture capital firm he founded threw him under the bus. Left-wing punk journalists immediately branded him “nuts” and a “rich idiot.”

Please note: Not one of those sanctimonious grievance-mongers had anything to say about the Molotov cocktail-fueled riots and fires set by the Occupy mobs at banks, car dealerships and restaurants in Oakland that provoked Perkins’ comparison in the first place.

While he regrets invoking Kristallnacht specifically, Perkins unequivocally refused to back down from his message defending the “creative 1 percent.” He reiterated his fundamental point in a TV interview on Monday: “Anytime the majority starts to demonize a minority, no matter what it is, it’s wrong. And dangerous. And no good ever comes from it.”

Perkins also chastised those who bemoan “income inequality,” including his erstwhile “friends” Al Gore, Jerry Brown and Barack Obama: “The 1 percent are not causing the inequality. They are the job creators. … I think Kleiner Perkins itself over the years has created pretty close to a million jobs, and we’re still doing it.

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America’s Unemployment Sinkhole

by Alan Caruba on Sunday, January 12th, 2014

This is article 378 of 390 in the topic economy

A President who thinks that extending unemployment compensation “creates jobs” is so out of touch with reality that it should come as no surprise that Obama has the worst record of unemployment rates since the days of the Great Depression in the 1930s.

The latest employment figures for December showed that the economy only added 74,000 non-farm jobs, the fewest in three years! The government claims that the unemployment rate dropped 0.3%—the first time in 60 months that it dropped below 7%. And the official rate is bogus. The government only counts people as unemployed only if they are actively looking for work.

As of October 2013, The Wall Street Journal reported that “The U.S. now has 90.6 million ‘non-institutionalized’ men and women over the age of 16 not working—an all-time high. That’s 10 million above the 80.5 million when President Obama took office. With total unemployment at 144.3 million, for every three Americans over the age of 16 earning a paycheck there are two who aren’t even looking for a job. That’s an ugly portent for American prosperity.”

In a September 2013 edition of Investor’s Business Daily, Betsey McCaughey, a former lieutenant governor of New York and author of “Beating Obama-Care”, wrote that “After 4-1/2 years of the Obama presidency, an unprecedented number of Americans have given up looking for work, wages are stagnating, low-wage earners are suffering most and the U.S. is fast becoming a nation of part-time workers.”

You can thank Obamacare for the rise in part-time workers as it increased the cost of hiring full-time workers and many businesses have reduced the hours of workers to avoid incurring it. Obamacare is a job killer. From Jan 1 through July 31, 2013, 77% of jobs created were part-time. Fewer than one out of four people got hired for full-time jobs. This is the opposite of a normal economy.

The official Labor Department figure of seven percent (7%) unemployment is a fiction as it does not include the millions who have given up looking for work. Mort Zuckerman, the chairman and editor-in-chief of U.S. News & World Report, writing in a July 2013 edition of The Wall Street Journal, said “The unemployment figure so common in headlines these days is utterly misleading. An estimated 22 million Americans are unemployed or underemployed. That puts the real unemployment rate for June at 14.3%, up from 13.8% in May.”

McCaughey noted that since 2008 Congress has extended jobless benefits from a maximum of 26 weeks to as many as 99 weeks every year, but failed to do so for 2014. While benefits ended for more than 1.9 million unemployed, the President and Congress went on vacation.

Now the most important piece of legislation according to Senate Majority Leader Harry Reid is a three-month extension of benefits. In an election year, this is likely to be extended repeatedly as Republicans are being described as heartless and indifferent, but the facts reveal a President who has been responsible for the millions of unemployed.

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Democrats will be pushing higher minimum wages to help with 2014 elections

by John Lott on Wednesday, January 1st, 2014

This is article 7 of 34 in the topic 2014 Elections
Economists have long understood that minimum wages hurt the very lowest skilled individuals the most.  The people who are just trying to get a leg up the ladder of success are stopped from getting on the first step.  You raise the wages of employees so that there is an excess supply, and the ones who are the least productive (e.g., those that require the most training) are less likely to make the cut.  Yet, Democrats claim that they are pushing higher minimum wages to help the poor.  From the Associated Press:

Republican governors running for re-election next year are looking to capitalize on distaste for Washington gridlock and President Barack Obama’s dropping public approval amid the bumpy rollout of his signature health care law — and Democratic challengers may need to respond with a popular cause.

A minimum wage increase could be the answer.

Democrats vying to challenge a slew of Republican governors, particularly those seeking re-election in states that Obama won last year, are talking up an increase as their campaigns get off the ground 11 months before the election. . . .

Thus far, the Republicans whom Democrats view as most vulnerable aren’t changing their minds and supporting it.

In addition to Corbett, the Democrats’ list of most vulnerable includes Maine’s Paul LePage, Michigan’s Rick Snyder and Wisconsin’s Scott Walker. Florida’s Rick Scott and Ohio’s John Kasich might be insulated because their states’ laws boost minimum wage with inflation and Iowa’s Terry Branstad, New Mexico’s Susanna Martinez and Nevada’s Brian Sandoval aren’t viewed as sufficiently endangered. . . .

The push is likely to be the center piece of Obama’s 2014 domestic agenda.  From Politico:

Podesta, who had just announced plans to spin off from CAPnew project focusing on economic inequality, will be part of the big minimum wage hike push likely to be the centerpiece of Obama’s pared-down 2014 domestic agenda. “It will fuel our politics for years to come,” says Neera Tanden, who replaced Podesta as CAP’s CEO. . . .

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You Want Fries With That?

by Alan Caruba on Thursday, December 5th, 2013

This is article 60 of 66 in the topic Business

On Thursday, December 5, there will be protests in more than a hundred cities across the nation directed at fast food chains, demanding an increase of the minimum wage to $15.00. Those who may be interviewed for radio and television will talk of receiving “a living wage.”

In his 2013 State of the Union speech, President Obama called for an increase in the $7.25 minimum wage to $9.00 an hour. It should come as no surprise that one of the President’s most active supports has been the Service Employees International Union (SEIU). It was identified on the liberal website, Salon.com, as “a key player” behind the strikes.

Don’t expect the mainstream media to ask who’s behind the strikes or, if informed, ask what their agenda is. The reporting will be mostly people with sad stories. You are not likely to hear about the National Employment Law Project, a liberal activist group that, since 2000, has received more than $1 million from George Soros and his Open Society Foundations.

When the government cracked down on ACORN, community organizers with whom Obama was associated, one of its reorganized groups became the New York Communities for Change (NYCC). The director of NYCC is also the director of Fast Food Forward, a group that advocates for raising the minimum wage. What emerges is a network of Leftist organizations and unions who have their own agenda, the fundamental transformation of America.

Being poor is hell, but being unemployed is even worse…unless you are receiving government benefits from free cell phones to food stamps, disability insurance, et cetera. Across the nation, fast food chains provide employment opportunities for hundreds of thousands, but most especially as an entry-level job for the young.

The concept of minimum wage laws began back in 1938 when the Great Depression was raging (not unlike today). The Fair Labor Standards Act set the minimum wage at $.25 cents per hour. After a succession of increases, it reached $5.15 in 1997 and is currently $7.25 an hour.

Being conservative, I have some real problems with the government setting such requirements because there are often unintended consequences. The Concise Encyclopedia of Economics has a section devoted to the minimum wage, noting that, while it can and does set wages, it cannot guarantee a job. Indeed, “several decades of studies using aggregate time-series data from a variety of countries have found that minimum wage laws reduce employment.”

The Heritage Foundation, a leading conservative think tank, notes that “The problem with minimum-wage increases is that they reduce access to these entry-level jobs. It is a basic tenet of economics that when the price of something rises, people buy less of it.” Liberals seem incapable of understanding this. They are all about “fairness” in a world that was never fair. Equality before the law is not the same as equality of who your parents are, where you live, the education you received, or whether you possess the skills to secure a higher wage than others.

So, while you watch the TV coverage of the protesters, keep in mind that they are demanding a wage increase that will actually reduce the number of jobs available as businesses, mostly small to medium in size, decide to lay off workers or just not hire more through automation.

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FAST FOOD WORKERS IGNORE REALITY — PRAY FOR UNION, GOVERNMENT INTERVENTION

by Stephen Levine on Thursday, August 29th, 2013

This is article 181 of 191 in the topic Marches/Protests/Riots

Most of the people who walked off their job in fast food restaurants do not seem to have a firm grasp on reality …

  1. Your employer operates a “convenience store” that is non-essential in the normal scheme of things as people have been preparing food at home since the dawn of time. In addition, there are any number of other “convenience” stores and pre-packaged food outlets.
  2. Your employer has an abundant source of labor with each graduating class of seniors and the laws of supply and demand control the value of your job.
  3. In all likelihood, your job was designed for an entry-level employee or part-time student or senior citizen. The only worthwhile jobs are managerial in nature, not preparing or serving food or maintaining the facility.
  4. This is a transparent ploy by the unions to unionize low-skilled workers. It is not that the union actually cares for its members, it cares about dues, managing large healthcare and retirement funds, and the political power to corrupt politicians and coerce employers. This strike is a clear example of the union trying to flex their muscle.
  5. And, while I feel sorry for your current economic situation, I did not tell you to have multiple children out of wedlock with multiple men who refuse to financially and emotionally support their progeny. Likewise, I did not curb your education and your opportunity to get a better paying skilled position – the teachers’ unions produced decades of functional illiterates that have no place to turn.
  6. If you want to rise above your current situation, there are any number of government grants available, but you will have to work doubly hard to overcome what choices you have made.
  7. I do not understand why you believe that I should pay more for my “Happy Meal” to support your poor choices and disadvantage myself or my family. This is not a socialist society where “from each according to his ability, to each according to his needs” is the operative guideline. And, I believe wealth distribution is charity at gunpoint and that a significant portion of any forced funding goes to the politicians and their special interests as “administrative fees.”
  8. We pay enough for job training and college programs – some complete with babysitters and paid living expenses.

From the progressive media …

Why I’m on Strike Today: I Can’t Support Myself on $7.85 at Burger King — ‘I know what it feels like to be afraid of having your children go to bed hungry or being evicted. But today is not scary; it’s empowering.’

I’ve worked at fast-food restaurants in North Carolina for the past 15 years. I’ve spent more hours at Church’s Chicken, McDonald’s and now Burger King than I can remember. I work hard – I never miss a shift and always arrive on time. But today, I’m going on strike.

I make $7.85 at Burger King as a guest ambassador and team leader, where I train new employees on restaurant regulations and perform the manager’s duties in their absence. Before Burger King, I worked at Church’s for 12 years, starting at $6.30 and ending at just a little more than $8 an hour.

I’ve never walked off a job before. I don’t consider myself an activist, and I’ve never been involved with politics.

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Barbara Boxer: Let’s Crush Even More Entry Level Jobs

by Doug Powers on Tuesday, August 27th, 2013

This is article 163 of 189 in the topic Government Regulations

Full time hiring is dying thanks to Obamacare and other factors, and the jobs “created” the administration keeps touting are mostly part-time jobs that people have two and three of each these days because of the economy. And now Barbara Boxer wants to kill those jobs off:

Senator Barbara Boxer (D-Calif.) said Monday night she wants the minimum wage increased to $10, a nearly $3 boost from its current level of $7.25.

“I think about $10. I think that would be right,” Boxer said in an appearance on MSNBC’s “The Ed Show.”

Boxer said that a boost to the minimum wage would “make a huge difference.”

“People are struggling,” she said. “The difference between the very wealthy and the working poor has grown.”

Why not just make the minimum wage $100 an hour and really close the gap between rich and poor?

What an idiot.

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2 years and 4 meetings later, Obama shuts down ‘jobs council’

by Doug Powers on Thursday, January 31st, 2013

This is article 15 of 23 in the topic White House Advisors/Czars

The President’s Council on Jobs and Competitiveness (aka “jobs council” aka “who?”) hadn’t met in over a year, and today they officially disbanded:

President Barack Obama created it in 2011 and filled it with prominent business leaders and economists. Its authority runs out Thursday, and the White House says it’s not renewing the panel.

Instead, a White House official says the administration will focus on new ways to engage with the business community and create jobs, including expediting permits for infrastructure projects.

Obama met with the jobs council only a handful of times, most recently in February of 2012.

Playing the part of Yoko in this particular group’s breakup was the president’s full plate, and it probably didn’t help matters that the president’s council recommended things the president didn’t like.

Drudge strikes again:

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Over at Hot Air, Ed Morrissey examines what happened on the job creation and workforce front during the life of the “jobs council.” However, the purpose of the panel wasn’t to do something as much as to give the appearance that something was being done, as the original head of the council sensed:

The panel’s start-up was delayed, and Volcker, known for taming inflation as Fed chairman in the 1980s, told colleagues he sometimes felt it was more of a public relations tool for the White House, according to a person familiar with his views.

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Right-to-work and job growth

by John Lott on Friday, December 7th, 2012

Info on right-to-work states is available here.  Red State has put together job growth in states available here.  They could have been more complete showing the change for all states and not just 28.  Indiana just became a RTW state.

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