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An Unusual Source Speaks The Truth

9:49 am in Economy, Financial Crisis, Government, Jobs, Media, Unemployment by dakine01

tell truth

tell truth by arimoore, on Flickr

Today (Monday, April 25) CNN has an opinion piece from former George W. Bush staffer David Frum that shocked me, and not in a Capt Renault kind of way.

Technically speaking, the U.S. economy is recovering right now. GDP growth has been positive since the summer of 2009. Employment is growing. If you like, you can say the recession is over.

But don’t say it too loud. With 13.5 million people out of work — 6.1 million out of work for 27 weeks or more — the odds are high that one of them may hear and take offense.

The recovery is weak, and job creation is slow. Everybody knows that. But here’s something that we don’t know, or anyway don’t think about enough: Isn’t it weird that in this dismal economic situation, neither of the two great U.S. political parties is offering a plan to do anything about the job situation?

Frum goes on to note that the Republicans at least have a “plan” (Rep Paul Ryan’s “budget”), even though the “plan” does nothing to help the unemployed, nor does it actually do anything on the budget. He also notes that the Democratic “plan” consists primarily of blasting the Ryan plan.

The administration does however have a political plan: Blast the Ryan plan. Since the Ryan plan is highly politically vulnerable, the blasting will likely hurt the GOP and help President Obama. The blasting will not, however, do much for the unemployed. But then we’ve all sort of given up on them, haven’t we?

I have to give credit when it is due and right now, Frum seems to be one of the few members in presumably good standing of the Village who is actually seeing something close to the reality faced by millions of us within the US today. Annie Lowrey of the Washington Post almost got it correct yesterday before reverting to Beltway cheerleading. The rest of the Very Serious People though are ever so serious as they toil away in the alternative world where the budget deficit is the ultimate problem in the world today. From Robert Samuelson at the Washington Post we get this. Of course in Samuelson’s world, everything is the fault of social spending. How else to explain these two little ‘nuggets’?

Who deserves government subsidies and how much? About 55 percent of spending goes to individuals, including the elderly, veterans, farmers, students, the disabled and the poor.

How much, if at all, should social spending be allowed to squeeze national defense?

Social spending is squeezing national defense? Seriously? I guess if you believe that we need a few more aircraft carrier groups, more nuclear submarines, more advanced fighter jets costing billions each, all relics of the Cold War, then I guess taking care of “the elderly, veterans, farmers, students, the disabled, and the poor,” that’s a squeeze. Enjoy life in that bubble Mr Samuelson.
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You Know They Really Are Insane

10:38 am in Uncategorized by dakine01

I went looking through der Google for the origin of the aphorism

The definition of insanity is doing the same thing in the same way and expecting to get different results.

Well, I found it attributed to Benjamin Franklin, Alfred Einstein and even one attribution to Rita Mae Brown.

Regardless of who first said it, we are witnessing it in operation in Washington, DC right now. We are seeing it in the current dance around another extension of Unemployment benefits (after having it killed last week). We are seeing it in the calls for fiscal integrity and "balance the budget" and the President’s Deficit Commission (aka Cat Food Commission).

In May 2010, the economy created 431K jobs but the vast majority of those jobs were temporary Census positions. Today there are reports that the private sector has added 13K jobs for June after adding only 41K of the 431K jobs added in May. Yet, the Senate (and House) just seem to want to dance their little dances. They have to be operating under the belief that to do nothing is to do something because it all works out some way or another in the end.

I really don’t know what they see when they go back to their homes and districts. Are they all in chauffer driven town cars? Or are the millions of un and underemployed just so much invisible waste? (don’t answer that, it is rhetorical). For the record, I am not eligible and have not been eligible for any of the various Unemployment Benefit extensions. But I have no problems with those who are getting it. I’ve been fighting this battle for six years now and at my age, anyone collecting benefits right now is more likely to find full time employment before I will. I do hope I’m wrong but doubt if I am.

But here we have an economy with over 15M people unemployed and most likely another 10M or so underemployed. An economy that needs to add 100K new jobs a month just to break even, adding 13K jobs. The fact is, all the un/underemployed and all the new folks entering the work force will keep falling further and further behind and the folks in DeeCee dance around providing an extension of benefits.

I don’t know how to penetrate the bubbles of our supposed leaders. Millions of us are out here, wanting to work, available to work, watching as more and more of our fellow workers wonder what they have done wrong (Nothing at all).

It is sometimes difficult to avoid visions of the apocalypse. Yet I always remember the little plaque my uncle kept on the wall of his office:

Don’t Let the Bastards Grind You Down. They’re the insane ones.

And because I can:

Cross posted from Just A Small Town Country Boy