pgm
Member
The so called jobs bill will do nothing to create jobs
The Obama Jobs Plan: 10 Reasons Why It Is A Bad Joke
But if American workers go out and spend it on stuff made in China, how does that create more jobs for American workers?
Because there are more jobs than simply manufacturing. American workers spending money on stuff made in China increases import jobs and retail jobs.
The Obama jobs plan does next to nothing to prevent jobs from being shipped out of the country.
All efforts to do that have been met with quite a bit of Republican opposition in the past (anti-free trade, protectionism, etc.). The point of this bill was to propose things that have gotten bi-partisan support in the past.
The United States has the highest corporate tax rate in the world. That puts our corporations at a vast disadvantage.
The corporate tax rate needs to be lowered (and simplified), but that's not going to create jobs in the short term because corporations aren't suffering at the moment. The reason they're not hiring has nothing to do with a lack of cash, it's a belief the economy will tank.
According to one estimate, if the trade deficit was totally eliminated it would create 8.4 million new jobs inside the United States.
So why isn't Barack Obama proposing to do something about all of this?
The trade deficit cannot be eliminated through protectionism, nor through acts of Congress. It has to be through coordinated efforts between the exporter and importer nations. The G20 has made some attempts at this and further negotiation could make this work. The idea is to make it so no nation has more than a 5% trade surplus or deficit, but exempting resources (i.e. Saudi Arabia and Russia). So, Germany and China would have to reduce their trade surpluses and the U.S. would have to reduce it's trade deficit.
The Obama jobs plan does nothing about the gigantic mountains of ridiculous regulations that are absolutely killing small business in this country.
He did mention it in the speech. He said he found some to cut. Hopefully this continues and I think Obama will be receptive to some of the Republican ideas on this. However, you can't have stupid ideas like, "every new regulation has to be matched with a regulation cut."
The U.S. national debt has increased by more than 4 trillion dollars since Barack Obama took office. It is currently increasing by more than 2 million dollars per minute.
The primary reason for the deficit is the recession. Most of the rest of Obama's newly added debt has been from things that were already in place before he entered office. I wonder if the $4 trillion includes the 2009 Bush budget as most people do.