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Saturday, June 26, 2010

Larry Summers, the Most Dangerous Man in the World?

*15 Million Americans are unemployed.
*15 Million Americans are underemployed or have stopped looking for work.
*11 Million jobs have disappeared since The Great Recession started.
*1 Million unemployed Americans will lose all unemployment benefits in the next few weeks.
*Congress and the Administration refused to extend unemployment benefits this week.
*The Administration expects the jobless rate to fall when the unemployment benefits end because then people will go out and get jobs.
*Larry Summers, Obama's main economic guru, believes that anybody who is unemployed is simply lazy. A claim he has repeated in scholarly papers.
*Small businesses create about 70% of all new jobs and have done so for decades.
*Small businesses are going out of business at record rates because their sales failed to cover their costs.
*The Administration's only effort to help small businesses is to give them a tax credit for each new employee they hire between now and the end of the year.
*No small business has ever hired a single new employee to get a tax break.
*And to get the tax break, the small business has to prove the new employee had been unemployed for over six months, and paper work is the single thing small businesses hate the most.
*The Great Recession will not end until 15 million Americans are back at work, and another 15 million Americans are not afraid of losing their jobs.
*When that happens, confident Americans will do two things; 1)Continue to pay down the debts they accumulated during the last expansion of the Business Cycle (a good thing), and 2)They will begin spending their incomes (a VERY good thing)and the economy will start to grow again, and The Great Recession will come to a close.
*The government needs to create jobs to get money flowing into the economy again and end the incredibly stupid Larry Summer's tax breaks.
*There are 47,000 miles of the Interstate Highway system that are now over fifty years old and much of it is desperately in need of repair. One of America's crown jewels is falling apart. Try driving the Interstate in Arkansas if you want proof.
*We have 150,000 bridges that are either obsolete and badly in need of repair. Ask anybody who lives in Minneapolis about that one.
*The list of our failing infrastructure goes on.
*This is work that will have to done someday and it will have to be paid for someday. So if not now, then when?
*This work should not be confused with the make work WPA (mostly) projects of the 1930's. This is all work that is needed, and needed now, that will provide the jobs that are needed now.
*You can find complete details on how to put people to work at It is also available as a Kindle book and as a Google book.
*Until that happens, Larry Summers will continue his one man rampage to destroy the country with his cockamaimee economic theories.
*Until then, be afraid, very afraid. And living in South Africa or New Zealand will not protect you. When the U.S. falls, it takes the world with it.

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