Category Archives: Economy
Guitar War
Maybe I pick on Obama too much but, sheeez. After his NLRB shuts down a Boeing plant in South Carolina and the 5000 jobs that go with it, his Justice Department raids the Gibson Guitar company. Gibson guitars are made in the USA. The frets are made of imported rosewood which may be illegal to harvest in India. Under the Lacy Act of 1900 it would be illegal to violate another country’s law. Except India isn’t complaining. In fact if Gibson exported its manufacturing to India and imported the finished guitars here there would be no problem!
Pass it Now, Right Away, Don’t Delay
President Obama’s jobs program calls for another $45o billion of the spending that dare not speak its name. That name would be “stimulus“. He wants it passed immediately – “no games, no politics , no delays”. And he wants it paid for by ending charitable deductions for the rich, capital gains tax rates for hedge fund tycoons, oil industry deductions, and of course, breaks for jet owners.
Unless Congress gets with his plan, unlikely, he says it’s up to the “super committee” to come up with other offsets. Right away.
The President’s Speech
It’s settled. The president’s latest big jobs speech will not be ignored in favor of the Republican debate on Wednesday. It will be ignored in favor of the NFL opener between the Packers and the Saints on Thursday.
No New Net Jobs
The Labor Department kicked off the Labor Day weekend with a jobs report which came up 60,000 short of the forecast 60,000 new jobs. The unemployment rate remains at 9.1 percent.
Dig at Green Jobs
Turns out some stimulus jobs were actually more shovel ready than we thought. Solyndra, a solar energy company with half a billion in federal funding, was one of several to assume room temperature this week.
