To follow up on my post Has the Tea Party accomplished anything yet?
Over the last two years, the Democrats have scored a lot of runs. They hit a grand slam with health care reform. Another home run with stimulus spending. Another with financial reform. They racked up one run after another.
Finally, the tea party movement struck out the Democrats in spectacular fashion (the biggest electoral turnaround in 62 years) and the top half of the inning is over. Now, it is the tea party’s turn to try and score some runs. But the limited government side is trailing 37 to zero (government spending excluding defense is 37 percent of GDP).
The GOP now controls the House of Representative, but it does not yet have Senate or Presidency. So the tea party movement has a man on first base. But it’s in a deep hole, down by 37 runs, and has to start scoring runs in abundance.
I’m sure you can see why I am not too excited by the tea party “victory” of November 2. Yes, the tea party movement, which didn’t even exist two years ago, stopped the Democrats from scoring more runs, but to win you must score runs of your own. In this respect, the tea party has not accomplished anything.
Posted in big government, Elections, Government spending, Tea Party
Tagged Democratic Party, GOP, Health care reform, Limited government, Republican, Tea, Tea Party movement, Tea Party protests, United States
Big election losses suffered by Democrats were “first and foremost” a reflection of the economy’s weakness rather than a wholesale rejection of his policies, President Barack Obama said on Sunday.
“The party in power was held responsible for an economy that is still underperforming and where a lot of folks are still hurting,” Obama told the CBS program “60 Minutes” in an interview.
Additionally, many are calling this Obama’s Watergate.
If Obama is correct that this election was a reaction to the weak economy and the political analysts are correct in comparing this to Watergate, a reaction to corruption and political heavy-handedness, we are little better off than we were before the election. We may have better people in Congress, or maybe not, but does this election reflect a change in the American people?
It is my hope that the election was about more than just the economy and more than just a reaction to Obama’s over-reaching. It is my hope that the election was about the direction of this country more than it was a referendum on the last two years. I hope this election was a reflection of the American people’s desire for a restoration of the Constitution and a return to republican ideals.
Most likely, the election reflects both dynamics. The Obama backlash will only be temporary, lasting one or two elections. To ensure that the 2010 election is the start of an American reawakening, we must double our efforts in promoting the Constitution and republicanism.
I fully expect the Republicans to take over the House on Tuesday and possibly the Senate. But what will they do once in power. Here’s my initial suggestion:
The first thing the Republican House should do is repeal 2.3% tax on medical equipment. The whole health-care bill was supposed to make health care more available and more affordable. This tax does the exact opposite.
The second thing Republicans should do is pass a bill permanently extending the Bush tax cuts. All of them! Including the tax cuts on high income taxpayers. They should also eliminate estate taxes. As explained in my previous post, estate taxes hurt Main Street. Additionally, it encourages tax avoidance and evasion while raising very little money for the government, about 0.8% of the federal government’s revenue.
Passing these bills will be both good policy and good politics. Maybe, hopefully, a Democratic Senate (if they hold on) will pass the House’s bills and President Obama will sign them, but I doubt it. But that makes these bills good politics as well. Republicans can claim they worked to make health care more affordable and help the American people. But the Democrats were more interested in government control and not helping the people make ends meet and health care more affordable.
These two bills would not only be a test of the Democrats’ resolve, but also of the Republicans’. I want to see these bills passed by the House without any of the crazy amendments or earmarks that too often get attached to bills. Let’s see if these Republicans really do believe in the Constitution and good governance.
These bills are not the end-all-be-all, but they will be a good start.
The United States may not be experiencing a sovereign debt crisis like Europe, which I have written about quite often recently, but we have our own problems. In Europe, 20 percent unemployment is making it very difficult to balance budgets. While unemployment is not as bad here, we are experiencing the worst economic recovery since the Great Depression. And today’s ADP report proves it:
Private employers unexpectedly cut 39,000 jobs in September after an upwardly revised gain of 10,000 in August, a report by a payrolls processor showed on Wednesday.
The August figure was originally reported as a loss of 10,000.
The median of estimates from 38 economists surveyed by Reuters for the ADP Employer Services report, jointly developed with Macroeconomic Advisers LLC, was for a rise of 24,000 private-sector jobs in September.
Employment fell 63,000 short of expectations, though last month was revised up by 20,000. ADP only measures private employment. The government report due out Friday also includes public sector jobs, which is expected to decline as census workers were recently laid off after the census was completed.
The ADP figures come ahead of the government’s much more comprehensive labor market report on Friday, which includes both public and private sector employment.
That report is expected to show overall nonfarm payrolls were unchanged in September, based on a Reuters poll of analysts, but a rise in private payrolls of 75,000.
Woh! These economists expect 75,000 private sector jobs were created last month when ADP said 39,000 were lost? Seems like somebody is way off the mark here.
Posted in Economics, Elections, Jobs, Sovereign debt crisis, Unemployment
Tagged 2010 European sovereign debt crisis, Democratic Party, Employment, Great Depression, jobs, Nonfarm payrolls, Private sector, Reuters, unemployment, United States