Monday Brief: The Stimulus Didn't Fix Unemployment

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The Patriot Post Report The Right Opinion Brief · January 9, 2012 The Foundation "It is error alone which needs the support of government. Truth can stand by itself." --Thomas Jefferson For the Record The stimulus didn't work. "Message to my fellow conservatives: Please don't blame the mainstream media for the improvement in jobs, unemployment and economic growth. Reporters are not making this up. The economy is better. It's going to give President Obama a leg up on the election. GOP beware, and come to your senses. Take Friday's jobs report from the Bureau of Labor Statistics. Non-farm payrolls gained 200,000, and the unemployment rate slipped to 8.5 percent from 8.7 percent. It may well be that a seasonal quirk added 42,000 messengers and couriers to the totals, but that will be lost in the headline reporting. It will be given back next month. It's inconsequential to the overall story. Likewise, a normal labor participation rate would yield much higher unemployment. But that's academic. Like any president, Obama will take credit for these economic gains. He's doing that right now. And he has a case to make: A year ago, the unemployment rate was 9.4 percent, and in 2011 it fell almost a percentage point. In the 12 months through December 2011, the economy produced 1.64 million new jobs, while in 2010, only 940,000 were created. On a monthly average basis, 137,000 new jobs per month were created in 2011, compared to only 78,000 a month in 2010. Things are getting better. Now, whether this has anything to do with Barack Obama's policies is quite another matter. After all, coming out of a deep recession, monthly jobs should be closer to 300,000 or 400,000, as they were during the Ronald Reagan recovery in 1983-84. The unemployment rate should be falling much faster. This should be the Republican message. Ironically, while President Obama takes credit for better jobs today, his forecast at the time of the $800 billion stimulus package was for near 6 percent unemployment at this stage in the cycle. So, the stimulus didn't work." --economist Lawrence Kudlow How much better could the economy be without the stimulus? Government "Government becomes big by having big ambitions for supplanting markets as society's primary allocator of wealth and opportunity. Therefore it becomes a magnet for factions muscular enough, in money or numbers or both, to bend government to their advantage. The left's centuries-old mission is to increase social harmony by decreasing antagonisms arising from disparities of wealth -- to decrease inequality by increasing government's redistributive activities. Such government constantly expands under the unending, indeed intensifying, pressures to correct what it disapproves of -- the distribution of wealth produced by consensual market activities. But as government presumes to dictate the correct distribution of social rewards, the maelstrom of contemporary politics demonstrates that social strife, not solidarity, is generated by government transfer payments to preferred groups. ... Not only does redistributionist government direct wealth upward; in asserting a right to do so it siphons power into itself. A puzzling aspect of our politically contentious era is how little contention there is about the ethics of coercive redistribution by progressive taxation and other government 'corrections' of social outcomes it considers unethical or unaesthetic. ... Government uses redistribution to correct social outcomes that offend it. But government rarely explains, or perhaps even recognizes, the reasoning by which it decides why particular outcomes of consensual market activities are incorrect. ... People are less dissatisfied by what they lack than by what others have. And when government engages in redistribution in order to maximize the happiness of citizens who become more envious as they become more comfortable, government becomes increasingly frenzied and futile." --columnist George Will Insight "Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience." --author and theologian C. S. Lewis (1898-1963) The Gipper "The government can find some charge to bring against any concern it chooses to prosecute. Every businessman has his own tale of harassment. Somewhere a perversion has taken place. Our natural, unalienable rights are now considered to be a dispensation of government, and freedom has never been so fragile, so close to slipping from our grasp as it is at this moment." --Ronald Reagan Tony Blankley, RIP Tony Blankley, one of The Patriot Post's syndicated columnists, as well as a former Ronald Reagan speechwriter and editorial page editor for The Washington Times, died Saturday after battling stomach cancer. He was 63. The Times has an obituary here, and his column archive is here. Re: The Left "In the case of Leftists, if you point out that socialism doesn't work any better in Wisconsin or Ohio than it did in the Soviet Union or does in Greece, they argue that it simply has never been done correctly. In the wake of such bloody failures as China, Nazi Germany, Cambodia, Cuba, Venezuela and North Korea, only a certifiable lunatic would even consider defending socialism on such shaky ground. However, when it comes to unequivocal devotion to failed attempts at social engineering, those on the Left could give collies and cocker spaniels lessons in blind loyalty. If I haven't yet convinced you that those who inhabit the ranks of the Left are dangerously self-righteous and unbelievably stupid, consider that they not only elected Barney Frank to Congress, but then kept doing it 15 more times. Consider, too, that they hold the unholy likes of Jimmy Carter, Michael Moore and Michael Bloomberg, in high regard. Finally, never forget that one of the intellectual heroines of the Left, Susan Sontag, once declared, 'The white race is the cancer of human history,' and, as usual, she was being deadly serious; and that Barack Obama, after once acknowledging that America was the greatest nation on the face of the earth -- no doubt with his fingers crossed behind his back -- went on to announce that, as president, he intended to radically transform it!" --columnist Burt Prelutsky Opinion in Brief "Mitt Romney's victory in Iowa is underappreciated. It was a well-run campaign and no one thought the day of the Ames straw poll, in August, that it would happen. The victory of Rick Santorum is a pundit-humbler: No one saw that coming even six weeks ago, except perhaps Mr. Santorum. The Iowa results almost perfectly reflect the Republican Party, which, roughly speaking, is split into three parts -- libertarians, social conservatives and moderate conservatives, who went for Ron Paul, Mr. Santorum and Mr. Romney respectively. The three parts of the party have been held together by agreement on three big issues: spending (which must be cut), taxing (which must be reformed), and President Obama (who must be removed). These three issues have force. Taxes and spending are the ties that bind, the top and bottom crust that holds the pie together. They're the reason the party is still the party, and not the splinter groups. The third element, Mr. Obama, is this year equally important. But there's no denying the Republicans are in a brawl, and it is becoming ferocious." --columnist Peggy Noonan Political Futures "In keeping with the dark and defiant habits of this administration, the new head of the half-billion-dollar Consumer Financial Protection Bureau was sworn in behind closed doors on Wednesday night. The nomination of former Democratic Ohio Attorney General Richard Cordray to serve as Dodd-Frank regulatory enforcer had been soundly defeated in the Senate before Christmas. ... At his left flank's urging, Obama vowed to follow in President Theodore Roosevelt's footsteps (TR recess-appointed 160 officials during a recess of less than one day) and install Cordray even though the Senate technically remained in pro forma session. Fresh from his Hawaii vacation, Obama returned to Washington and for once delivered on a promise. ... Obama's liberal media supporters have rationalized the tyrannical maneuver as a response to GOP 'nullification.' But it's those who oppose common-sense reforms of the gravely flawed Dodd-Frank law -- a 2,600-page monstrosity that no lawmaker read before passing it -- who are obstructing good government. As Senate Republicans have been pointing out for months, Dodd-Frank threw out judicial review, removed CFPB from the congressional appropriations process, provided five-year tenure protection for the director and transferred the agency from the Treasury Department to the opaque and unaccountable Federal Reserve. ... [T]axpayers remain in the dark about how and how much the CFPB is spending, because Dodd-Frank allows the agency to draw funds from the Federal Reserve's operating expenses. Out of sight, out of mind. This is not 'bold.' It's jackboot." --columnist Michelle Malkin Reader Comments "Mark Alexander and Patriot Team, I am pleased to know you made your year-end financial goals to advance your mission of Liberty, but I have to tell you, some of your appeals almost sounded apologetic. I presume you get complaints for asking us to support the outstanding service you provide to advance Liberty. Well, may I suggest you have NOTHING for which you need apologize. I have built my career as an Army officer on the tenets of leadership and responsibility. Though you ask nothing of uniformed Patriots, I want you to know that I doubled my donation for 2011. For those who complain about your appeals for support, SHAME on them. It is one thing not to support you for all the great work you do, but entirely another to actually complain about receiving requests for support. Thanks for limiting your support to civilian Patriots who are able to support you -- and excluding students and those with limited income. I am proud to support you on their behalf!" --Col. USA, Afghanistan "I appreciated Mark Alexander's essay, 'Grateful for What?'. It's always difficult to hear when our Patriot leaders are suffering battle fatigue. Your responsibilities are significant and you fulfill them well. Hundreds of thousands of us depend on and value your insights and evaluation of current events, and your steadfast devotion to Liberty. You have become both a watchdog and sheepdog. Your attention and that of your dedicated staff is constantly drawn to evil in order that your fellow citizens may be warned and therefore behave wisely. It is good that as your watchfulness is constantly scanning our current world for the benefit of others, your constant and unswerving gaze is upon He Who is the Author and Finisher of our so great salvation, our Creator and Redeemer." --Tim "As a libertarian leaning individual and reader of The Patriot Post, I really appreciate the honest opinion of Ron Paul in Friday's Digest. Although I disagree and feel he would be a great President and Commander in Chief (most consistent of any candidate -- not a loose cannon at all), this article is unbiased and looks at Ron Paul honestly, which is so uncommon in the Right Wing media." --Jason "I've come around to Jon Huntsman. In addition to being arguably the most electable, he is also the most consistently conservative. I'm from PA & we haven't forgotten that Santorum backed the liberal Arlen Specter over Pat Toomey in a prior Senate election, which is unforgivable. Santorum is also unelectable, as are Gingrich & Ron Paul. Therefore, I'd like to see and hear more from Huntsman in the coming weeks. Defeating BHO is paramount to prevent national bankruptcy if he is re-elected." --DJA "In order to stop the marxist policies and agenda of Obama I will support whomever wins the GOP nomination. No one on this earth is perfect and we all have our issues including the GOP candidates." --Big D Patriot Editor's Note: This was the best exchange from the New Hampshire debate over the weekend: Romney: "I believe in an America that's based upon opportunity and freedom, not President Obama's social welfare state. ... We have a president that does not understand, in his heart, in his bones, the nature of American entrepreneurialism, innovation and work." Gingrich: "That's a little bit harsh on President Obama, who, I'm sure in his desperate efforts to create a radical European socialist model, is sincere." The Last Word "If Democrats truly believe Bush spent too much, then shouldn't they cooperate to bring spending under control rather than use Bush's spending as an excuse to up the ante? ... If Democrats had any concern about spending, they wouldn't have crammed through Obamacare, which will increase the federal health care budget obscenely. If they had the slightest concern about our upside-down national balance sheet, they wouldn't have spent $900 billion in a worthless, corrupt, ineffectual 'stimulus' program and be clamoring for another one. They wouldn't urinate federal money into dead-end green projects, such as Solyndra. They wouldn't have desperately tried to pass a monumentally wasteful cap-and-trade bill that wouldn't have made a dent in global temperature in a hundred years, even if you blindly accept all the superstitious nonsense the environmentalists propagate. Seriously, people, let Democrats and Obama defenders obfuscate all they want, but have you seen the charts? Have you noticed the dramatic acceleration in spending and deficits since Obama took office? ... We have to get about the business of cutting spending and reforming entitlements now because every year we wait, our problems are compounded and become that much more difficult to reverse." --columnist David Limbaugh Click Here Discover the Politically Incorrect Truth with the PIG Guides! Shop our best-selling Politically Incorrect Guides to the Constitution, founding fathers, global warming, literature & more! The complete set of Politically Incorrect Guides is now available! Semper Vigilo, Fortis, Paratus et Fidelis! Nate Jackson for The Patriot Post Editorial Team (To submit reader comments click here.) The Patriot Post Report Key Headlines Around the Clock We value your time. As a service to you, our editorial team evaluates hundreds of reputable news sources each day for headlines that are relevant to Essential Liberty – the restoration of constitutional limits on government and the judiciary, and the promotion of free enterprise, national defense and traditional American values. We post links to the most notable news 24 hours a day. Skip the Drudgery of wading through celebrity reports and other non-news. –Mark Alexander, Executive Editor CLICK HERE The Right Opinion The Web's Best Columnists Our editorial team has evaluated and selected these nationally syndicated columnists who write about subjects that are relevant to our mission – the advancement of Liberty. While we don't agree with every position taken, we find these authors best reflect good Right Thinking. We post these essays – without advertising or frills – by 0800 ET each day. –Mark Alexander, Executive Editor CLICK HERE (Please pray for our Armed Forces standing in harm's way around the world, and for their families -- especially families of those fallen Soldiers, Sailors, Airmen, Marines and Coast Guardsmen, who granted their lives in defense of American liberty.) Follow The Patriot Post:

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