Obama swinging and missing...

A little snipe at the private sector during a Q&A session in Ohio yesterday. Obama was responding to a question about union pensions and unemployment numbers and foreseeable solutions...

Obama's final words in his response... "Now, we've got a mechanism at the federal level that provides a certain percentage backup or guarantee for these pension funds if they fail. But we're going to have to, I think, work with these private sector companies so that -- right now, they've become very profitable. Companies are making money right now. We were talking earlier about the economy and how it's moving slow. Well, corporate profits are doing just fine. They're holding onto a whole bunch of cash -- they're kind of sitting on it, waiting to see if they can make more money and more opportunity, but they haven't started hiring yet. One of the things they need to be doing with some of this cash is shoring up their pension funds that are currently under-funded."

Let's make one thing clear... No business owners that I know are profitable right now. And if there are any who are fortunate enough to make a dime in this economy, good for them. We certainly aren't hoarding cash as he claims here... At least no more than anyone else in America who is nervous about the future is. I know private business concepts are a foreign concept to him, but the reason we aren't hiring is because it would be counter productive since we don't have the volume to need the workers since no one is spending money in this economy. You see, no work to do, no workers necessary... I know government work is used to this, but why in the world would we hire 20 people to sit around and stare at the walls (Other than the obvious which is to make his numbers look better)? What little money we do have in reserve is being held onto because even though he claims the economy is doing better, there's no evidence to support that (For my industry, we are at 6% of the permit volume we were at from the same period in 2007 and 2008) and he's about to let Bush's tax cuts pass which is likely going to drain what little we have left and then some.

I know he likes to play Robin hood but here's an idea... Even though I know the school districts and their unions are nestled up tightly to his teet, why doesn't he ask that they put into play that 10 billion just tossed to them to hire new teachers and to rehire the thousands across the country that have been laid off?... You know, where the money was supposed to be spent! Many of these districts are admitting that they are holding those funds to keep a reserve in case budgets don't pass in the future. Why isn't he targeting them for hoarding the cash? Or better yet, why doesn't he just keep giving all of the people that we've had to lay off government jobs so he can get a step closer to the ideal world of a total government controlled America? Cheap shots aside (He started it though), his agenda that targets the private business owner is both transparent and tired. He needs to keep his eye on the ball as he has much bigger issues to deal with than taking pot shots at the little guys...

I have a client who was hired to do a job on stimulus money. He was forced to increase the pay of his laborers by more than double to meet federal standards. He then more than doubled his fee and even let the bureaucrat in charge know that he was doing so. The bureaucrat didn't care. That's the problem with these government jobs -- there are no incentives to be productive or efficient. It's monopoly money anyway, right?

i can never trust any politician who isn't informed or educated enough (or honest enough to admit it) to know that there his NO answer to our economic problems under the current monetary system. Our monetary system is designed to do 2 things : 1) Create perpetual debt and 2) and maintain our current social class structure in which the people at the top literally steal the money our of your pocket that you worked to earn.

Anyone who thinks this is about Right vs Left or bleeding heart vs ignorant country fucks is completely missing the big picture here. You have to dig a little deeper to see where it really stems from. Politicians don't change things, they keep them the same.

Great post from oggy. Smartest thing you've ever said.