The Puzzle Goes On!!

Here are monthly retail sales compared to the month before;
January, 2010 +0.3%
February, 2010 +0.6%
March, 2010 +2.1%
April, 2010 +0.6%
May, 2010 -1.2%

If you can find good news in those numbers, please explain it to me.

However, the Obama administration seems to think they are pretty good news. But they still want to create new jobs, and they do recognize that small businesses are the engine that drives new jobs in the U.S.

So how are they going to encourage small businesses to create new jobs? According to today's Los Angeles Times, "President Obama urged passage of his proposals to stimulate hiring by small businesses through tax credits and lending incentives, arguing that similar measures are partly responsible for the economic recovery over the past few months."

What economic recovery? Fifteen million Americans still do not have jobs of any kind. Another fifteen million are working short hours or have temp jobs.

O.K., I can understand trying to put a good face on this dismal economy, but to try to give credit to small business tax credits is so absurd that it defies comprehension!!!

This government seems completely unable to learn from its past mistakes. See earlier posts for more examples.

It is obvious that Obama knows absolutely nothing about how real world business works so he must be relying on the world's (perhaps) worst economist, Larry Summers.

There will be no upturn until you read that theoretical Larry has left the White House. And that is one fact you can take to the bank.

What should be happening is that the returned TARP money should be made available to the 25,000+ mayors of cities around the U.S. and to the State Highway Departments on a first come first serve basis. They know how to put the money to work creating new jobs now and all across the country.