Small-business index declines in August (Jobs Plan Not Likely To ...

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Small-business index declines in August (Jobs Plan Not Likely To Change The Trend)

Topics: Political News and commentaries

The National Federation of Independent Business' small-business optimism index declined 1.8 points in August to 88.1... the sixth drop in a row and the weakest reading since July 2010. The number of small-business owners saying they expected the economy will improve six months from now fell to the lowest level since 1980.

Meanwhile, don't expect the president's jobs plan to do much to change the situation nor to induce them to hire more.

And despite Obama's claim his jobs plan is paid for, The AP says such a claim doesn't pass its Pinochio test. And besides the fact that his plan puts a strain on the Deficit Committee, there's also the possibility that it could force another debt-limit increase.

A poster at newsvine.com sums all this up rather succinctly; the Obama job plan (aka, "The American Jobs Act"), has nothing to do with jobs. It's purely political move to make the Republicans seem obstructionist because of their objections to it. Obama's job plan will have no real impact on the 9.1 % unemployment rate. He's pandering to Big Labor (teachers and construction unions in particular), and at the same time trying to achieve his political goal of being re-elected.

However, Victor Davis Hanson has some advice for Mr. Obama that could help the economy turn around: Step Back a Little, Mr. President:

The facts are these: For nearly three years and at a cost of nearly $5 trillion, Barack Obama, in serial fashion and through various manifestations, has tried massive borrowing to stimulate job growth, given that he had large Democratic majorities in the Congress for two years. It has resulted in high unemployment (9.1 percent), little growth in real GDP, and low polls (about 40-43 percent approval). Now he is barnstorming the country to find a wedge issue to achieve what neither the people nor the Congress want. I think it is about time that he should "step back a little" and his team should "let their egos go," since "everywhere he goes, the numbers just get worse."

Sound advice. Unfortunately, the president is unlikely to heed such advice ... for him, it's all about pandering to union money. Jobs for anyone other than union members just aren't included in his agenda.

Related: Economists cut growth forecasts for 2011 and 2012

Posted by Hyscience at September 13, 2011 9:37 AM

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Source: http://www.hyscience.com/archives/2011/09/small-business.php

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