President Obama’s Jobs Package is a Loser

Americans were once again witness to another round of stimulus talk as the President spoke to the nation last week in his jobs package promotional speech.  Those that argue this package is more of the same have every right to do so.  This package sidesteps the President’s elected responsibility to govern this nation and instead offers the President a pro-reelection financial boost.  This is unacceptable.

The root of our economic troubles is primarily related to our trade deficit and the failed trade policies that have allowed other countries to prey on our wealth.  The graph below, which can be clicked on to view a larger image, basically tells the whole story.

Trade Deficit by Year

While many Republicans, and even some Democrats, acknowledge that there is no money to pay for President Obama’s new jobs package, then why do they not acknowledge we can no longer afford hundreds of billions of American dollars a year flowing out of our country and into foreign businesses? Read the rest of this entry »

Archived under Economy Comments

Made in China and Owned By China

While it’s not news to most people that read the news, Chinese President Hu Jintao recently visited the United States to strengthen economic ties with the United States.  But I look at this trip more as an inspection by China’s leader to see how its largest debt consumer is doing.  Regardless, ahead of the trip the Chinese President announced $600 million in deals with American businesses.  This is standard procedure for China and is intended to smooth the rhetoric before arrival at most countries the President visits.

The trade deals announced ahead of this visit were very troubling.  General Electric, one of America’s largest multinational corporations known for innovation, had announced plans to build jet engines for the Chinese.  Many of us know about China’s horrible regards to intellectual property rights.  But even more troubling then this is that for GE to get the deal they essentially have to hand over the design plans for their engines.

It’s bad enough that China has taken many of our manufacturing jobs.  Now the Chinese are taking our blueprints to build jet engines.  This has military implications as well, since GE engines can be retrofitted for military aircraft. Read the rest of this entry »

Archived under Economy Comments

Why Our Health Insurance Premiums Will Soar

It’s no surprise to many that health insurance premiums are going up again in 2011.  As American’s, we’ve grown used to the fact that nothing gets less costly except maybe some of the paychecks employers sign these days.  Regardless, I was at a forum and saw some very insightful information about the reasons why health insurance premiums are rising, so I thought I would comment on the topic myself.

Many people are blaming President Obama for the health insurance premium increases.  But the owner of Temporary Health Insurance Pro hit the nail on the head, in my opinion, when he so directly pointed out that our aging country is simply encountering more costly medical problems then at any point in our past.  He noted these costs are being spread across the insured and policyholders are feeling the impact.  And this guy noted it was going to get much worse as seniors get closer to Medicare eligibility. Read the rest of this entry »

Archived under Economy Comments

Ohio Representative John Boehner Should Resign

Ohio, which many economists and housing experts deem as the housing bubble collapse capital, has been dealing with a horrific economic crisis well before the country as a whole entered the great recession.  And with hundreds of thousands of manufacturing jobs that have left the State of Ohio, so has the employer based health insurance many Ohioans once enjoyed.  So it is surprising that an Ohio Republican Representative in Congress would work so hard to block legislation that would help his constituents.  And I’m talking about Rep. John Boehner.

The debate about health care reform has escalated into a mudslinging match between Republicans and Democrats.  Republicans, eager to represent their corporate campaign donors, have used fear tactics and propaganda to further their message.  It’s time for all this nonsense to stop.  Republicans have crossed the line in promoting fear and illusion.  Republicans offer no plan to fix health care for Americans, but instead offer promises of economic collapse and widespread anarchy. Read the rest of this entry »

Archived under Ohio Comments

If Democrats are Socialists are Republicans Nazis?

Democrats, with their slim majority, are continually being called socialists by those within the Republican Party and anti-health care reform participants.  The question is, are Democrats really socialists or are Republicans really Nazis?

At the writing of this post, the nations unemployment rate stands at 10.2%.  This is certainly the highest unemployment rate the USA has seen in many years.  At the present time 5.613 million Americans are drawing unemployment checks, and that does not count the millions that have left the accounting of this nation’s unemployment system.

Broader figures place the unemployment rate much higher then 10.2%.  Even without the actual unemployed numbers, assume that each person drawing unemployment once supported a family of three.  If that were the case, over 16 million lives have been impacted by a lack of money and jobs.
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Archived under Economy Comments

Has America Lost the Trade War?

So the title of this post may catch some off guard as there is no “official” trade war.  But has America really went to this unofficial war armed with fists to fight an enemy armed with tanks?

Democrats have been pushing an economic stimulus package that includes “buy American” provisions.  Many Republicans are concerned such provisions would be the spark to ignite a trade war.  You can read more about these buy American provisions here.

But the truth is America has laid down and surrendered well before the trade war ever started.  Just look at the casualties – millions of Americans left unemployed and poisonous products made in China sitting on nearly every store shelf.  Why would Republicans be concerned about igniting a trade war when we have been getting our butts whipped in the current trade war? Read the rest of this entry »

Archived under Economy Comments

Ohio Unemployment Money/Benefits at Risk

With the troubling economy, many people are losing their jobs.  It’s unfortunate, but Ohio has been in this situation much longer then the nation as a whole.  Now this economic pinch is squeezing state unemployment budgets.

There is a growing fear that those receiving unemployment compensation in Ohio will be given IOU’s by the state, just in time for the holidays.  According to a news story released today, Ohio may run out of funding for unemployment benefits by next month.
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Archived under Ohio Comments

Congratulations to President Elect Obama

I think in this recent election Republicans were put on notice by taxpayers – either get your act together and represent the people or lose your jobs.

I would like to take this opportunity to congratulate Barack Obama for being elected President.  It is not only historic because of his heritage, but because he will take over at such a troubling time.

President Elect Obama has the potential to be one of the great Presidents this nation has ever seen.  He will face many challenges left behind by Bush and his incompetent Administration.  But if Obama can save this country, he will certainly become a hero to many working class Americans.
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Archived under Federal Government Comments

AIG Squanders Taxpayers Money

Most hard working blue collar workers agree that the $700 bailout, plus $100+ billion in pork, is not a solution to the crisis on Wall Street or main street.  AIG is a perfect example of that.

Previously it was reported that AIG executives went on a lavish spa retreat after receiving $85 billion in a a taxpayer funded bailout.  While people on main street are trying to feed their families and meet their difficult financial obligations, here comes AIG pissing money away on foot massages and aroma therapy. Read the rest of this entry »

Archived under Economy Comments (1)

Why Bush Can’t Be Trusted with $700 Billion

Like a racing horse with blinders on, The Bush Administration has blindly raced this country to near economic ruin.  The Jockeys in this case are corporate America, led by their huge lobbying efforts over the years.  From what we have witnessed over the course of the last eight years, we can not trust giving the Bush Administration $700 billion of our money.

First, let’s look at the Iraq War.  Some will argue that there was or was not just cause for invading that country.  Few will argue that Iraq was more stable, and less of a threat, under Saddam Hussein’s rule.  Many billions of dollars later, Iraq is still unstable and now is home to more terrorists then ever before. Read the rest of this entry »

Archived under Economy Comments

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