No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

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American Economy Held Hostage

by @ 14:32 on July 12, 2010. Filed under Economy, Miscellaneous, Politics - National.

On June 17th, Vice President Biden kicked off “Recovery Summer.”  If you missed it, Recovery Summer was designed to be a celebration of the massive surge of jobs that was to result from the implementation of the various stimulus projects.

Vice President Biden was the perfect mascot talking head for Recovery Summer in that just 2 months prior, he was touting how the Obama rejuvenated economy was soon to be generating 500,000 jobs a month.

So, how’s that recovery going for us? In just the past week we’ve seen:

  • June employment numbers that are worse than any sub retirement age individual has seen during their working life.
  • The Canadian dollar closing in on parity with the US dollar because the Canadians, a country of just 34 million people and an economy of just 1/10th of the US, generated 93,000 net jobs in June while the US economy could only generate 83,000 private sector jobs.
  • Even though the US Government was denied a reinstatement of their gulf drilling moratorium, the risk for drillers is so high that the moratorium is, for all practical purposes, in effect.  The first big drilling rig has left the gulf heading for more sure work in Egypt.

Not yet recognizing the impact of his agenda and choices on the US Economy, President Obama is rumored to be pushing Congress to pass both Cap and Tax and card check during what will surely be a lame duck session for the Democrats. While the negative impact of card check would be harder for most Americans to discern, Cap and Tax, by the administration’s own admission, would increase the costs for the average family by over $1,700 each year.

If it wasn’t clear before, there is no longer any doubt that the happy talk from the Obama administration about “job creation” and “an economic recovery” are just that, happy talk. It’s now clear that the American economy is being held hostage by the Obama administration and won’t be released until Obama has accomplished the redistribution of wealth that the far left has only managed wet dreams about since the days of FDR.

Note the new counter on the home page. We’ll be incrementing until the month that 500,000 net, private sector jobs are generated. Until then, we’ll be counting the days of the American Economy Held Hostage!

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