Dem's NEW Jobs Plan will Only Cost America $300 Billion …Update: Another US Manufacturer Packs Its Bags
Posted by Jim Hoft on Thursday, December 3, 2009, 5:47 AM
Considering their last failed jobs plan cost $787 billion consider this a bargain.
Democrats tripled the national deficit in less than one year after their last failed stimulus.
They’ve increased the national debt to $12 Trillion.
And they’ve nearly doubled the unemployment rate since the Bush years.
Now they want to do it all over again.
The Hill reported:
The cost of a new jobs bill Democrats hope to move early next year runs to nearly $300 billion when major proposals under serious consideration are added up.
Lawmakers are calling for extending aid to the unemployed, infrastructure spending, a hiring tax credit and increased small business loans.
A number of the jobs proposals backed by Democrats make up a $230 billion package proposed by Mark Zandi of Moody’s Economy.com, who made a presentation to Senate Democrats Wednesday. The provisions supported by Zandi along with new spending on infrastructure, a favored approach of top House Democrats, would cost between $291 billion and $299 billion, according to estimates by lawmakers and economists.
Aides cautioned that Democratic leaders in both chambers are just beginning to consider what will go into the bill, and that estimates based on standalone bills may not mesh with the final jobs legislation.
Last week Nancy Pelosi confessed that the the reason Americans are mad about their record spending is that “they’re not getting anything for it.”
But, that won’t stop them from repeating the whole disaster again.
UPDATE: Another US manufacturer has decided to move its operations overseas.
Big Government reported this from Manufacturing News:
The federal government is “doing everything in [its] manpower [and] capability to destroy U.S. manufacturing,” says David Farr, chairman and CEO of Emerson Electric Co., in a presentation at the Baird 2009 Industrial Conference in Chicago Ill., on Nov. 11. In comments reported by Bloomberg, Farr added that companies will continue adding jobs in China and India because they are “places where people want the products and where the governments welcome you to actually do something. I am not going to hire anybody in the United States. I’m moving. They are doing everything possible to destroy jobs.”
UPDATE: Obama said today:
“I am open to every demonstrably good idea. But our resources are limited. We can’t make any ill-considered decisions.”
The “resources are limited.” That’s why they’re only spending $300 billion on this next boondoggle.
UPDATE: Mitt Romney offers a sound 10 point plan to fix the economy today.
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Published May 23, 2012 at 11:51 pm - 59 Comments
Militant Conservative commented:
Insanity (definition of). “Doing the same thing over and over but expecting a different result.”
Albert Einstein
Babsy commented:
The dims will never allow their constituents to learn that wealth flows from the bottom up instead of from the government hand out down.
wow commented:
total insanity… meanwhile there are people who are working to do something good…
Please watch and listen to this video and circulate to friends (and enemies)
http://www.bornagainamerican.org/index.html
Solaratov commented:
Emerson Electric is not the only company hitting the road.
(via American Thinker)
“Farr is not alone in his determination to abandon the anti-business climate of the United States. Eleven major companies have relocated or are in the process of relocating overseas: Tyco International Ltd., Foster Wheeler AG, Weatherford International Ltd., Nabors Industries Ltd., Noble Corp., TransOcean International Group, United America Indemnity Ltd., Cooper Industries, Covidien, Ingersoll-Rand PLC, and Accenture Ltd. The U.S. has the world’s highest corporate tax rate after Japan, but we have been promised that free health insurance will make American companies competitive.”
AuntieMadder commented:
Man, they’ve got everything backwards. We work to get paid, not pay to work.
Rosemary Woodhouse commented:
Who is John Galt?
Karen commented:
Can someone explain to me why furthering unemployment is part of a JOBS PLAN? While I understand the need to help all the people who have been betrayed by a government that is destroying their lives, having this be part of the JOBS PLAN seems to indicate that they are simply trying to placate the unemployed with handouts rather than actual JOBS.
I cannot stand this administration. Their evil knows no bounds. They will not be happy until the entire middle class (the people they fear the most) is destroyed.
We know exactly what they are doing and apparently there is no one in the government who is on our side. NO ONE. They continue to allow this abuse to continue. The people have NO ONE looking out for them. It’s HOPELESS with this crew at the helm.
Ted commented:
Spreading the wealth is the one promise Obama is keeping.>/b>
Solaratov commented:
Ted
December 3rd, 2009 | 11:35 am | #11
Spreading the wealth is the one promise Obama is keeping.>/b>
+++++++++++++++++++++++++++++++++++
Yeah. But, unfortunately, he’s only spreading it to his friends (and they’re all putting it offshore, because even they know he’s going down).
For an interesting read on one aspect of this, check out AtlasShrugs for the story on the connection between george soros and indybank/west-one. Ripping off the people AND the government with one set of papers.
Larkin commented:
A friend, (a conservative at that), accused me the other day of becoming paranoid about both the political direction of the country, as well as the threat of islamism.
My reply. There’s never been a better time in my entire life for a little healthy paranoia.
TWoPolitics commented:
Billion, Trillion. To a liberal just meaningless names given to numbers.
Lenny commented:
take the time to go to ther Big Govt link, the expanded facts are astounding.
Hermie commented:
Small business loans eh?
Of course, the criteria for those who receive the loans will be the same as those who benefited from banks forced to lower their credit standards because of CRA and other government agencies’ dictates.
Then the banks will have more bad loans on their books, which will let Obama take over more of them and the businesses which took out the loans.
Arch commented:
Romney’s piece outlines exactly what the administration should be doing if they want to rescue the economy. Unfortunately, Obama wants the opposite – an enduring crisis.
The more I see what the democrats are doing, the more certain I am that they engineered the financial meltdown last Fall. As you may recall, Chuck Schumer sent an email to his friends warning them about IndyBank, causing a run and the bank’s failure. All of the resistance to banking reform from Franks, Dodd, Waxman and Rangel was intended to delay the collapse until right before the election. Dodd & Biden made a ton of cash selling securities just before the crash.
Another person with a hand in this mess was the Chairman of the NY Federal Reserve, an agency with oversight responsibility for Wall Street. He should have recognized that burying worthless mortgages in complex instruments would cause a tsunami of brokerage and insurance failures when the housing bubble burst. Of course, we are talking about Timothy Geithner here.
If Soros was involved in IndyBank’s failure, we should all suspect that the September surprise wasn’t an accident.
SenatorSeven commented:
Romney’s plan says NOTHING about discontinuing the lunacy of Obamacare legislation and redirecting the HCR effort to tort reform, authorizing interstate health insurance sales, and equalizing tax treatment of health insurance premiums. The word “health” appears nowhere in his 10-point plan. Astounding, but perhaps not so much for someone who pushed his own flavor of O-care in Taxachusetts. Try again, Mitt.