Monday, October 31, 2011
Thursday, October 27, 2011
My Newest Fox News Piece: Yes, the Economy Is Growing But Obama's Policies Are Not Helping
My newest piece at Fox News starts this way:
The economy grew slightly faster during the third quarter. But the newly released numbers mean that for the year GDP has only grown at an incredibly slow 1.4 percent, barely keeping pace with population growth. The change in per capita GDP so far this year is essentially zero.
Normally the more severe the recession, the faster is the recovery. During the Reagan administration, for same three quarters, GDP grew at 4.8 percent. Since the Obama recovery started in June 2009, GDP growth has averaged 2.5 percent, compared to 6 percent over the same time period under Reagan. The quarterly growth rates for the two recoveries are available here.
Obviously, more people working would result in more income. The slow GDP growth is tied to the continued record high unemployment. Unemployment has remained at least at 9 percent for 27 months and counting, a post World War II record. While the unemployment rate during the recession in the early 1980s went higher, reaching 10.8 percent, the high rates did not last as long, staying above 9 percent for a relatively short 19 months. . . .
Newest National Review piece: Is the Public Sector Hurting?
My piece at National Review Online starts this way:
‘It’s very clear that private-sector jobs have been doing just fine; it’s the public-sector jobs where we’ve lost huge numbers, and that’s what this legislation is all about,” Democratic Senate majority leader Harry Reid claimed last week. Senator Reid is simply wrong: The private sector has suffered from much deeper job cuts than public-sector workers have faced.
Obviously, Americans are hurting, with some 7 million losing their jobs since the start of the recession. And that doesn’t include the 7.2 million people who should have entered the work force over the same time period. But the pain hasn’t been in the public sector.
The only group of workers who are “doing just fine” are those working for the federal government, where employment has increased by 11 percent since the start of the recession. Both private-sector and state- and local-government employment have fallen. While private-sector employment has recovered slightly from 7.5 percent drop it originally suffered, it is still down 5.4 percent. . . .
Saturday, October 8, 2011
New health care regulations seemed destined to force many off of private health insurance
Almost everyone would like a Porsche or a Volvo, but the question is are we willing to pay the price. For the vast majority, the answer is obviously "no." No matter how much it would nice to own such a car, the cost simply outweighs the benefit. Not everyone wants to buy even a mid level car. Sure it would be nice for many people to own a somewhat nicer car, but the costs aren't worth it either. Notice this news article at Fox News reporting:
The advisers recommended that the package be built on mid-tier health plans currently offered by small employers, expanded to include certain services such as mental health, and squeezed into a real-world budget. . . .
Friday, October 7, 2011
Newest Fox News Piece: The China Currency Bill Will Make Americans Poorer, Not Richer
My newest piece starts this way:
We seem determined to repeat the policy mistakes that made the 1930s Great Depression so deep. Already we have seen the massive increases in government spending and regulation. Today's vote on the China currency bill by the Senate adds another mistake. It resembles the infamous 1930 Smoot-Hawley tariff law.
True, China is manipulating its currency to lower the value of the Yuan relative to the US dollar. This manipulation makes it cheaper for Americans to buy their exports, be it toys, furniture, or manufactured goods. It also makes it cheaper for us to purchase whole companies or shares in Chinese companies. It also means that the Chinese have to pay “too” much for American bonds and American products.
If passed, the Currency Exchange Rate Oversight Reform Act of 2011 would force China to raise the value of the Yuan. And if they refuse to comply, we will increase the tariffs on what we buy from them, equivalent to putting a special tax on the goods we buy.
China’s currency manipulation is a mistake. Yet, their mistake doesn’t mean we should make one also. If Chinese leaders are stupid enough to subsidize Americans by selling their goods and assets too cheaply, why should we stop them? . . .
Saturday, October 1, 2011
An easy way to find illegal aliens
The new Alabama law shows that illegals respond to incentives. Will the schools look at those who started not showing up to school after the judge's decision? From the Associated Press:
Education officials say scores of immigrant families have withdrawn their children from classes or kept them home this week, afraid that sending the kids to school would draw attention from authorities.
There are no precise statewide numbers. But several districts with large immigrant enrollments -- from small towns to large urban districts -- reported a sudden exodus of children of Hispanic parents, some of whom told officials they planned to leave the state to avoid trouble with the law, which requires schools to check students' immigration status.
The anxiety has become so intense that the superintendent in one of the state's largest cities, Huntsville, went on a Spanish-language television show Thursday to try to calm widespread worries. . . .
Newest Fox News piece: Media Silence Is Deafening About Important Gun News
My newest piece starts this way:
Murder and violent crime rates were supposed to soar after the Supreme Court struck down gun control laws in Chicago and Washington, D.C.
Politicians predicted disaster. "More handguns in the District of Columbia will only lead to more handgun violence," Washington’s Mayor Adrian Fenty warned the day the court made its decision.
Chicago’s Mayor Daley predicted that we would "go back to the Old West, you have a gun and I have a gun and we'll settle it in the streets . . . ."
The New York Times even editorialized this month about the Supreme Court's "unwise" decision that there is a right for people "to keep guns in the home."
But Armageddon never happened. . . .