The Spectacle Blog
Jonah Goldberg of National Review, Chris Horner of the Competitive Enterprise Institute and Donald Lambro of the Washington Times will speak at a “Barack Obama Epic Fail Teach-In” at George Washington University tonight at 6 p.m. Among the policy failures to be addressed:
- 5.8 million people have been searching for work for more than 27 weeks … the highest ever.
- 19.1% unemployment rate among young people 16-24.
- 2.6 million people unemployed since the stimulus passed.
The event — 6 p.m. in room 405 of GWU’s Marvin Center at 800 21st St. NW, Washington DC— is sponsored by the GWU chapter of Young America’s Foundation and the David Horowitz Freedom Center.
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Franklin| 3.3.10 @ 2:05PM
I predict the MSM will either 1) ignore it altogether or 2) use it as example of hate speech and violence instigation.
Hope the room is packed.
Missy| 3.3.10 @ 7:03PM
Are ACORN and SEIU members going to be there?
I hope security is tight.
Oldefarte| 3.3.10 @ 3:42PM
His """""FAILURES""""" were all [or should have been] predictable by the American voters prior to 11/4/08!!!!!!!
Phil Leach| 3.3.10 @ 4:18PM
I don't agree with many of Obama's policies, but this thing where we throw out statistics like unemployment, etc., and blame it on the President is pretty silly, even when it's someone like Obama. The Fed and the administration (both Bush and Obama) did a number of things right during the crisis. The stimulus provided very little bang for the buck, but that's another story. I'd be interested to hear how people recommend bringing down the unemployment rate. Unfortunately, it's a lagging indicator, and while there are a lot of positive economic signs, we're unlikely to see much movement until next year. I'm afraid this economic truth has very little to do with who the President is.
JohnD| 3.3.10 @ 4:32PM
"I'd be interested to hear how people recommend bringing down the unemployment rate."
Stop declaring war on consumers and small business, while subsidizing big business with record deficit spending and wrecking the dollar in the process. The U.S. economy is 70% consumer driven, and if consumers are unemployed and their savings are depleted by the shrinking dollar (again, obscene deficit spending) then 70% of the economy is hamstrung. Attacking small business hurts the sector of the economy that creates all the jobs.
Here's how to ramp up employment: a three month tax holiday, no federal taxes, no FICA, no social security withholdings. Let people spend and buy, which will increase consumer demand temporarily, will create jobs and snowball into wealth creation, small business profits, job creation and recovery.
Then repeal the sunset of the Bush tax cuts slated for next year and make them permanent.
As for the costs, offset it with a 2 year government hiring freeze, and the federal workforce and spending will shrink through attrition (30% of the federal work force is due to retire in the next 5 years).
In any event, the 3-month tax holiday may even result in higher federal revenues due to increased payrolls and profits.
An aggressive campaign of rolling back and repealing ridiculous regualtions and an end to threats of aggressive regulation.
Problem solved.
Phil Leach| 3.3.10 @ 5:10PM
John D- Except for the 3-month tax holiday, which I think is the kind of short-term gimmick policy we've been trying for the last couple of years, you have some very good ideas. The one point you make that is very important is certainty with respect to policy. You're quite right that uncertainty is very bad for markets and business. I have a small business, and you always look forward when making hiring decisions. While I think the tax issue is often exaggerated when it comes to employment decisions, there's no question that uncertainty is bad for hiring. And, we really need to do something about government employment. There are too many government workers, and they make too much money. My only point is that your very sensible policies are not likely to reduce unemployment quickly.
Phil Leach| 3.3.10 @ 5:16PM
Just to clarify on taxes. I do think conservatives go too far when they see cuts in marginal rates as some kind of panacea. Taxes haven't been much of a problem for business that last couple of years, as a whole lot of businesses haven't been profitable. I think taxes should be low because the private sector does a much better job of allocating resources.
JohnD| 3.3.10 @ 9:36PM
Actually Phil, it is the marginal rates, i.e. the tax rate on your next dollar earned on raises, bonuses, etc., that have the biggest impact on wealth creation, and revenues. Lower marginal rates are an incentive to earn more, and expose more income to (albeit lower rates of) taxation. At high marginal rates, high earners forego additional income and there is less income to be taxed and less wealth created.
Raising rates on the poor actually do result in more revenue, because the poor can't forego meager income to avoid the tax. Ironic, sad, but true. Great Britain financed WWI by lowering the level of income subject to taxation.
Raising taxes on the wealthy reduces revenues, because they just forego the additional income, which they don't need as much, and thereby create less income to be exposed to taxation.
Marginal rates are the key.
JohnD| 3.3.10 @ 9:45PM
Oh, and one more thing Phil; the 3-month tax holiday (sure it's a little gimmicky) is to jump start the consumer economy (70% of the U.S. economy) which is suffering the most in the current recession.
And by the way, I am actually a federal employee arguing for lower marginal rates, and cutting back federal payrolls, pleading my case to a small buisness owner.
Lastly, you are right about uncertainty; businesses can adapt to anything except uncertainty, which is why we have insurance and futures contracts. Eliminating the uncertainty of who this Administration is going to go after next is hampering any possible recovery.
tp | 3.3.10 @ 6:18PM
Government must be greatly reduced. Government workers are net tax payers - receiving total compensation from collection of taxes then returning only a portion back to taxes.
Regarding the President's failures, he remains unproductive. His retoric and impressively poor judgment were apparent long before the election.
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Missy| 3.3.10 @ 6:31PM
Spend our way out of debt? How's it workin' out for us?
Obama's a disaster; not only is he a socialist, he's an incompetent socialist. I hope Americans punish democrats for our outrageously high unemployment numbers. Vote them out!
Save the date: November 2, 2010.
Thom| 3.3.10 @ 8:13PM
Missy, very small point. Name me a single competent socialist that has ever existed? The theory of socialism is by definition incompetence run a muck.
JohnD| 3.3.10 @ 9:47PM
Maybe the metric of a "competent socialist" can be the number of lives snuffed out in the name of the people.
Missy| 3.3.10 @ 10:26PM
I understand your point, Thom; I just take every chance I get to insult the arrogant liberals' Obamassiah a little extra!
Makes me laugh.
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Sam Ponticello| 3.4.10 @ 12:03PM
IMPEACH OBAMA, now! If Bill clinton can be impeached for lying about "screwing " Ms. Lowenski, then Obama surely can be IMPEACHED for actually "screwing" the whole country! IMPEACH OBAMA, NOW!!
Janie| 3.4.10 @ 1:25PM
Clinton was impeached for obstruction of justice and lying under oath--Monica wasn't the only one he screwed over.
F Krautner| 3.7.10 @ 2:14PM
TERRORIST TRIALS
The GOP is in it's usual position of having nothing worthwhile to offer the general public. Their only hope is to deceive the public into thinking that their do nothing policy actually accomplishes something.
The GOP position on holding terror trials in military tribunals is a good example of advocating the worst possible policy just to attack the Obama administration.
When comparing terrorist trials in military tribunals to civilian courts, the record is clear. There have been only THREE convictions in military courts. Two of the guilty parties are already out of prison. At the same time civilian courts, requiring Miranda warnings, have convicted more than 300 terrorists and sent a lot of them away for life.
Therefore, the GOP approves of a policy that is 1/100 as effective as civilian trials. Whose side are they on????
If terror trials are put into military tribunals, these cases will not be settled for a hundred years! That's what the GOP approves and if anybody is being soft on terrorists, it is the Republicans.
The idea that a military court is tougher than a civilian court is a BIG LIE.
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