Tuesday, January 25, 2011

SOTU 2011

He said it once, he said it twice, he said it three times, but this time…he really means it. President Barack Hussein Obama’s State of the Union Address is expected to focus on job creation and fixing the economy.

Yes, jobs will be President Obama's top priority

Based on past practice, President Obama will talk about using “investments” to further this goal. These “investments” likely will take the form of more federal spending programs a la the crap sandwich that was supposed to create (or save) 4 million jobs. The truth is the stimulus boondoggle has resulted millions of jobs lost nationally with no way to pay for the spending.

The jobs outlook is scary for the unemployed. The average period of unemployment has nearly doubled. Workers unemployed 27 weeks or more increased to 6.313 million or 41.9% of the unemployed. The average time spent on unemployment is hovering around 40 weeks.

In addition to the problem of paying the tab for all of this “stimulus” in the future, long term unemployment causes further problems for the US. With millions out of work, Social Security and Medicare will take a massive hit. With less people contributing to these programs and more and more people using them, something has to give.

No one credible disputes that in order to fix the economy, job creation has to occur. At the same time, the national debt today is $14,060,136,959,466.51. Each person’s share is already over $45,000. Does anyone really believe more federal government spending can really create jobs to fix the economy?

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