Blog @ MoreWhat.com

Without presenting some of the information provided in an article from The Economist, to avoid having your eyes glaze over, the following excerpt may some it up.

Most troubling of all is the continued failure of economic growth to benefit the labour market. Employment fell by over 300,000 jobs during the last three months of 2009, despite strong expansion in GDP. The first quarter of 2010 is unlikely to show as big an output gain, suggesting that the pace of improvement in employment may be slowing, even as regular job growth has yet to return. And the situation may be more dire still; initial jobless claims have grown in recent weeks, indicating that what momentum there was in labour markets has been lost.

And leave it to one of Obama’s economic gurus, Larry Summers, to spin the situation in a liberal form. He says the American economy is experiencing “a statistical recovery and a human recession”.

That’s liberal-speak for we present numbers that minimize the problem and portray continued losses in employment as a ‘human recession.’ How comforting. The report indicates 41% of the unemployed have been so for 27 weeks. How does that translate into it ’s all Bush’s fault? Those losses came within Obama’s first year in office.

I can hear the liberal response already. However, libs should understand that regardless of the degree to which the previous administration or anyone else contributed to an economic downturn, then candidate Obama campaigned that his hope and change would fix what’s wrong. He knew then what he would face if elected. It is folly to now say that the failure of his agenda is someone else’s fault.

That is why the overwhelming demand from the public, aka voters, is to return to the basics. Stop spending. Stop borrowing. Live within our means and take common sense steps toward recovery. Enough with the political agenda that only serves the ambition of politicians.

Stanford Matthews
MoreWhat.com

Every politician invokes the use of ’spin’ to some degree and with some frequency during their their term or terms in office. That is the essence of politics. And that is the dominant feature which cripples effective governance. Political games are often defended as a ncessary evil in government and public affairs. Of couse, politicians and those who craft strategy are the only ones who subscribe to that philosphy. And it is responsible for Scott Brown’s victory in the Massachusetts special election held last week.

But politicians and community organizers are addicted to that unfortunate part of the process. Enter President Barack Obama. Defined by supporters, of which there are less these days, as the consummate campaigner President Obama is once again embracing that which had served him well in getting elected. Even though it is largely responsible for his falling approval rating, failing agenda, dismal first year in office and party prospects in 2010.

White House officials say they understand why emotions are running high. The president’s top political aide says President Obama has had to take unpopular action to deal with an economic crisis far worse than anyone expected when he took office.

David Axelrod says he warned the president early on that his public approval ratings were likely to drop. “I said to him a year ago, Mr. President your numbers are going to be considerably worse a year from now than they are today because you can not govern in an economy like this without great disaffection,” he said.

Axelrod told the ABC television program This Week that he believes the president did the right thing. “I have no regrets about that. I think history will look back and say the President of the United States met his responsibilities,” he said.

Someone is smoking crack if they think reaction to Obama’s agenda is due to ‘an economic crisis far worse than anyone expected when he took office.’ Or have they forgotten all the Bush bashing in his last year of office over the ‘worst financial crisis since the Great Depression’?

Of course Axlerod suggests what history will say about Obama. There is nothing he can point to currently putting the President in a favorable light. The same goes for the President and the Democratic party’s agenda. Nothing positive is promised until years in the future with the expectation it can be passed and the sham will not be noticed for years.

With all this President Obama continues the spin strategy of politics.

Going into year two, political strategists expect the president to re-center himself Wednesday as a hard-fighting, bank-busting, Obama-on-your-side jobs president, while acknowledging the hiccups in getting to this point.

At the State of the Union, the state of the presidency may be the question that most needs answering.

“It’s going to be jobs, jobs, jobs. Economy, economy, economy,” said Democratic strategist Joe Trippi. “Year two’s gonna be this guy.”

And when that doesn’t work it will be some other guy. The never ending campaign continues.

Now, he is taking a more populist approach - focusing on the day-to-day issues that create money woes for many families.

He says it is part of an effort to show the administration cares about workers who are struggling to pay their bills or have anxieties about losing their jobs.

An entire year goes by before the tranformational President of hope and change recognizes the economy and jobs are the largest concern for voters. How reassuring.

Jan. 25 (Bloomberg) — President Barack Obama will propose a three-year freeze on federal spending outside of national security to save an estimated $250 billion over a decade as part of an effort to rein in record deficits, administration officials said.

Let’s see. Push a New Deal, eighty year liberal pursuit of the nanny state holy grail of government-run healthcare at 2 1/2 trillion dollars and then suggest a pultry $250 billion savings over the same time period as a new agenda strategy. It is remarkable his ratings are quoted at only down to about 50%. There must be a considerable number of people in favor of more job killing entitlements.

Stanford Matthews
MoreWhat.com

The excerpt below from President Obama demonstrates the rhetoric does not always mirror performance.

So my main message in today’s meeting was very simple: that America’s banks received extraordinary assistance from American taxpayers to rebuild their industry — and now that they’re back on their feet, we expect an extraordinary commitment from them to help rebuild our economy.

Minus an extensive review of bank failures over time Mr Obama’s comment that banks are ‘back on their feet’ may be premature. A list of failed banks as of this writing from the FDIC lists 142 bank failures since the Messiah took office. If everything that happened on former presidents’ watches are their responsibility then by Mr Obama’s habit of blaming Bush it would be fair to say Obama is responsible for the 142 bank failures. That would suggest his agenda is not changing the rate of bank failures.

Likewise Mr Obama and his crew indicated their agenda would not see unemployment over eight percent. Obviously it has been over ten percent and is currently hovering at that number. That does not include those who are underemployed and may not cover the hopelessly unemployed or those whe have given up the search. Yet Obamanation continues to tout their ability to create jobs and save the economy.

Senate Majority Leader Harry Reid (D-NV) has focused on ramming his so-called health insurance reform down the throats of American taxpayer whether they like it or not. His press release section is short on jobs information but there is some.

Harry likes to claim his ideas are necessary. And economists tell us that if we do nothing, those costs will continue to climb and climb.’ What Harry doesn’t tell you is his ideas will raise the cost of healthcare. Administration’s Own Actuary Says The Dem Bill Increases Health Care Costs.

A second report on the same topic is….

CMS: Reid Bill Raises Health Care Costs $234 Billion. What Harry is really means is: “We Would Do Almost Anything To Pass A Health Care Bill”

But good ol’ Harry is on the job for jobs. Washington, D.C.—Senate Majority Leader Harry Reid released the following statement this afternoon after his White House meeting with President Obama to discuss job creation initiatives to spur America’s economy:

“I had a productive meeting with President Obama this morning. The initiatives that he outlined in his speech yesterday and that we discussed this morning will help small businesses grow and hire new staff, invest in transportation and infrastructure, and give incentives to homeowners to make their homes more energy efficient. He has proposed positive, attainable steps to make sure more Americans have a good job to go to every morning.

Get real Harry. And just what hoops does small business have to jump through to get help from the government that usually means tradeoffs and not doing as you would if left to operate freely? Ooh, investing in transportation and infrastructure. Make work, taxpayer funded projects. Sure, Harry, that’s been done before with exactly what you would get now. Temp jobs with no economic upside beyond a temp paycheck for some. Incentives for homeowners is the same game. Give a break to one taxpayer at the expense of other taxpayers. Government does not create anything except more bills. Fondly referred to as deficits and national debt.

Speaker of the House Nancy Pelosi is on Harry’s page. Two press releases echoing the liberal agenda for false economic improvements. Item number one is here. And item nuimber two is here. More debt by use of taxpayer dollars to fund jobs for other taxpayers and those who do not pay taxes.

“Today’s meeting is further evidence how focused President Obama and Congress are on taking more action to keep creating jobs. Absolutely! All the King’s horses and all the King’s men couldn’t put the economy back together again. But they all parrot the agenda spin and sound bites.

Fight for effective and limited government. Not the crap the liberals are selling.

Stanford Matthews
MoreWhat.com

Click the image to read the rest….

Stanford Matthews
MoreWhat.com

Let’s assume the WaPo/ABC poll referenced below is correct. If that is true most Americans are not thinking this one through. What’s the problem?

New federal rules on compensation at companies that accepted bailout money are likely to get a warm public reception: in a new Washington Post-ABC News poll, more than seven in 10 Americans say they support such limits, most of them “strongly” so.

Okay, you agree to participate in a poll and you answer the questions you’re asked. How different would the results have been if the ‘pollsters’ asked the participants if they were in favor of government takeovers, bailouts, increased national debt, economy killing deficits, minimum wage increases and executive compensation limits?

Maybe not all at once but if the items mentioned above were included it may have altered the results. If Americans consider the liberal agenda in terms of wage and compensation controls they may not favor what was asked in the poll featured in this post. Liberals have no problem raising minimum wage, increasing the wages of workers in general and decreasing compensation for those who own or manage companies. Allowing the government to limit executive compensation may be one of those slippery slope issues. Careful what you ask for, you might get it. If POLS are allowed to control executive pay how long will it be until they control your’s? (Not that they don’t already to some degree.)

But the point is the more government controls the more freedom and liberty are threatened.

When the public is exposed to all the available information and given adequate time to digest it poll numbers have a way of changing.

Poll finds nearly 2 in 3 Americans are Manmade Global Warming ‘Deniers’
Marc Sheppard

According to a Pew Research Poll released today, the number of Americans believing there to be “solid evidence that the earth is warming” has dropped 14% since last year. And the biggest drop – 22% — was among those identifying themselves as independents.

And while 57% are still buying into the continuing warming hype, the number attributing the warming to human activity has dropped from 47% to 36%. What’s more, the number seeing global warming as a “very serious” problem is down 9 points to 35%.

Here’s the Pew Research excerpt and link…..

Fewer Americans See Solid Evidence of Global Warming
Modest Support for “Cap and Trade” Policy

October 22, 2009

There has been a sharp decline over the past year in the percentage of Americans who say there is solid evidence that global temperatures are rising. And fewer also see global warming as a very serious problem — 35% say that today, down from 44% in April 2008.

On the issue of healthcare reform….

Six in 10 say Obama’s proposal, if enacted, would not achieve his goals of expanding coverage to nearly all Americans without raising taxes on the middle class or lowering the quality of health care. For the first time, a majority disapprove of the way he’s handling health care policy.

Given sufficient time, there appears to be a better than even chance most Americans will draw the correct conclusion on the issues. Gee, could it be that is why the liberal majority in Washington is so eager to ram their agenda though Congress?

Of course there’s the other side of the liberal agenda. The side where they do little or nothing. Like Iran, North Korea, Iraq, Afghanistan and all the other foreign affairs policy areas that feature their appeasement strategy. VPOTUS Joe Biden was touted in the 2008 campaign as Barack Obama’s answer to those criticizing his lack of foreign policy experience. Since the election the Obama World Apology Tour remains the only noticeable event on the international stage. Biden and Clinton have been MIA as is any meaningful US foreign policy.

Some other polls have suggested Americans are losing interest in US involvement in Iraq and Afghanistan. Perhaps that is because President Obama has failed to provide leadership on these issues and appears to be clueless on the next step or fearful there is no political upside for the community organizer-in-chief. About all that has happened lately is Mr Obama has again assured all that the US will be out of Iraq by next August. One can only suspect terrorists or insurgents are gearing up for the conveniently provided timeline.

Problems, politicians and polls dominating public debate on criticial issues. We may be waiting a long time for real American leadership. Will it begin in 2010 and end in 2012?

Stanford Matthews
MoreWhat.com

from Maggie’s Notebook the following is offered…..

E-Verify expires on March 6, 2009 – thanks to the Stimulus Plan!!! Please sign the petition and if you are a blogger or have a forum put the petition on your site!

Wake Up America Movement has sent out the following alert and call for urgent action. If you believe that illegal immigration is a serious issue which damages our US economy and our culture, sign this PETITION for REINSTATEMENT OF E-VERIFY (see petition at end of this explanation).

E-Verify is a free, simple web-based system that verifies employment eligibility of new employees. It is the primary means by which American businesses can easily ascertain the work status of new hires online - and is long considered a “Smart Business Practice.” http://www.smartbusinesspractices.com/legal_everifyfaq.php

TIME IS SHORT AND YOU WOULD BE WELL ADVISED TO RESPOND TO THIS APPEAL IMMEDIATELY. That is if you are truly concerned about the wrong direction this country is taking since January 20, 2009. If you require self-serving reasons to participate then consider your current job and future jobs are at greater risk of loss if E-Verify is not continued. Take a stand.!! Do something!! It is not asking much for you to sign a petition to save your own job(s). It is the least you can do on your own behalf and that of your country, providing you are a citizen or legally engaged in the process to become one.

Stanford Matthews
MoreWhat.com

Additional link:

Economic times being what they are who would expect the price of gas to rise? What could consumers learn about the last time the prices fell after reaching near five dollars a gallon at the pump? From the basics of supply and demand to specific world events that affect the markets the consumer sometimes has a significant effect on prices. A huge decrease in demand as gasoline prices peaked last year is often cited as why the price eventually fell. Wouldn’t it be nice if consumers did not require such a severe price increase to encourage cutting back on gasoline purchases? A small reminder of the power of the consumer was illuminated last year but will likely be forgotten in times ahead. That is one reason for this post being published now.

The excerpt below links to an interesting analysis of how the price at the pump is determined. This blog cannot speak to the validity of this appraisal but it is interesting nonetheless. In other words it is worth a read.

Did you know that gas price gouging almost never occurs as prices rise? Rather, it’s most often when dealers keep prices artificially high even as their costs fall. As gas costs were near $5 a gallon until falling and oil companies earn around $100 billion each year, it’s a good time to question what really goes into the price of gas. The numbers on the gas station sign hide a complex set of transactions. Before gas can power your car, it must be discovered as crude oil, traverse three markets, and be refined from crude into gas. Inside, we’ll explain the three markets, walk you through the role of refineries, and show how oil companies use creative tactics to manipulate gas prices…

The piece below is what renewed the interest here on gas prices and how it all works and who is in control a few weeks ago. It mentioned one of the big players.

Lack of Spending Kills US Jobs, Profits
By VOA News
27 January 2009
(brief excerpt)

Valero, the largest U.S. oil refiner, said it lost more than 43 billion as the recession dampened demand for gasoline.

The item below simply describes this major player and is from Wikipedia.

Valero Energy Corporation (NYSE: VLO) is a Fortune 500 oil and gas refining and retail company based in San Antonio, Texas. The company owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America.[1] Valero is also one of the nation’s largest retail operators with more than 5,000 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names, including Valero, Diamond Shamrock, Ultramar, Shamrock, and Beacon.

A piece from Motley Fool expands on the list of player and how things are going right now.

Along with Valero Energy and pint-sized Calumet Specialty Products (Nasdaq: CLMT), Holly possesses the ability to process sour-crude feedstocks that provided a competitive advantage during oil’s last climb. With expansions and improvements nearly completed at both refineries, Holly will not only face the next rise in oil prices with about an 18% increase in refining capacity, but also an enhanced ability to process sour crude. In fact, the Navajo refinery will soon be equipped to rely entirely on sour crudes if needed. Although I’ve been cool on the refining sector lately, as the majors have been cutting production, I am intrigued by the company’s competitive refining spreads and the steps underway to enhance that sour-crude advantage.

And who can forget the large campaign by the man below suggesting what we should do about energy? So what has he been doing lately?

T Boone Pickens buys Peabody Energy Corp., Chesapeake Energy Corp., sells ABB Ltd., Westport Innovations Inc, Valero Energy Corp., Tenaris S.A., Talisman Energy Inc., Schlumberger Ltd., The Shaw Group Inc., SANDRIDGE ENERGY INC, National Oilwell Varco Inc., Petrohawk Energy Corp., Halliburton Company, The Greenbrier Companies Inc., Foster Wheeler Ltd., Fluor Corp., DresserRand Group Inc., Chevron Corp., Clean Energy Fuels Corp., BPZ RESOURCES, INC, XTO Energy Inc. during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, BP Capital. T Boone Pickens owns 9 stocks with a total value of $40 million. These are the details of the buys and sells.

This is just a little public service feature that will hopefully keep people’s minds on some of what falls to the back burner these days. Notice what is focused on in the news lately and what has been pushed aside. Not like the current economic conditions will make those items pushed aside a non-issue for the future. Can those we elected to serve in Washington keep their eye on all important issues? Or will they falter and obsess on the most popular while dropping the ball on others?

What could happen or what could be ignored to cause another damaging rise in energy prices? Just a little food for thought on a lazy Sunday in February 2009.

Stanford Matthews
MoreWhat.com

Imagine that.. Someone is interested in taking Bill Gates and his legacy, Microsoft, to task for laying off American workers. The complaint from US Senator Charles Grassley of Iowa ties the current financial crisis and the trend of increasing unemployment to companies who abuse the H-1B visa program of hiring foreign workers for American jobs.

Political life in Washington may be as fragile as anything else vulnerable to the impact of severe economic downturns. Where was all this angst over visas and foreign workers during the summer of 2007 when Congress and the White House tried to pass McCain/Kennedy shamnesty? There’s hardly a difference. A primary responsibility of the federal government is to defend its citizens from foreign attack. Whether that is from the typical source of armed forces of another country or countries, the sinister terrorism from radical groups without a well-defined geopolitical base or an economic invasion on our shores and borders from foreign sources the task is understood. You protect your own citizens first and once protected then and only then do you extend assistance to those who are not citizens.

One could say better late than never except these occasional expressions from elected officials are more often political in nature and for their vested interest and not yours. Senator Grassley is an elected official with some volatility. Similar to a company’s stock which responds wildly and unpredictably to changes in the market. But this recent press release and letter from the Senator does have some usefulness. To bring some attention to both inequities in the labor market as well as a renewal notice that immigration policies including visa programs and offshore outsourcing are by no means dead issues. With the election of the most liberal senator in the US to the Office of President of the United States you can bet the farm on the fact the issue of amnesty will rear its ugly again this year or next.

For Immediate Release
January 23, 2009
Grassley Works to Ensure American Workers are Priority

WASHINGTON – Senator Chuck Grassley today said that in a time of economic downturn, American workers must be a top priority for American companies. Grassley reiterated those words after he sent a letter to Microsoft urging the company to make efforts to retain qualified American workers during the recently announced lay-offs.

Microsoft employs thousands of people through the H-1B visa program. This temporary work visa program allows American companies and universities to employ temporary foreign guest workers who have the equivalent of a U.S. bachelor’s degree in a job category that is considered by the U.S. Citizenship & Immigration Services to be a “specialty occupation.” The purpose of the h-1b program is to help companies hire foreign guest workers on a temporary basis when there is not a sufficient qualified American workforce to meet those needs. However, the program is not intended to replace qualified American workers.

In October 2008, U.S. Citizenship and Immigration Services released an internal report that found the H-1B program has more than a 20 percent violation rate. The fraud identified in the report included jobs not located where employers claimed, H-1B visa holders not being paid the prevailing wage, forged documents, fraudulent degrees, and shell businesses. In one instance the H-1B position described by the employer was “business development analyst.” However, it turned out that the H-1B visa holder would be working at a laundromat doing laundry and maintaining washing machines.

Grassley has been a leader in the effort to improve the H-1B visa program. In the 110th Congress, he introduced a comprehensive H-1B and L visa reform bill with Senator Dick Durbin that would give priority to American workers and crack down on unscrupulous employers who deprive qualified Americans of high-skill jobs. He has also asked questions of both American and foreign based companies about their use of the H-1B visa program.

Here is a copy of the text of Grassley’s letter

January 22, 2009
Mr. Steve Ballmer
Microsoft Corporation
One Microsoft Way
Redmond , WA 98052-6399

Dear Mr. Ballmer:

I am writing to inquire about press reports that Microsoft will be cutting approximately 5,000 jobs over the next 18 months. I understand that the layoffs will affect workers in research and development, marketing, sales, finance, legal and corporate affairs, human resources, and information technology.

I am concerned that Microsoft will be retaining foreign guest workers rather than similarly qualified American employees when it implements its layoff plan. As you know, I want to make sure employers recruit qualified American workers first before hiring foreign guest workers. For example, I cosponsored legislation to overhaul the H-1B and L-1 visa programs to give priority to American workers and to crack down on unscrupulous employers who deprive qualified Americans of high-skilled jobs. Fraud and abuse is rampant in these programs, and we need more transparency to protect the integrity of our immigration system. I also support legislation that would strengthen educational opportunities for American students and workers so that Americans can compete successfully in this global economy.

Last year, Microsoft was here on Capitol Hill advocating for more H-1B visas. The purpose of the H-1B visa program is to assist companies in their employment needs where there is not a sufficient American workforce to meet their technology expertise requirements. However, H-1B and other work visa programs were never intended to replace qualified American workers. Certainly, these work visa programs were never intended to allow a company to retain foreign guest workers rather than similarly qualified American workers, when that company cuts jobs during an economic downturn.

It is imperative that in implementing its layoff plan, Microsoft ensures that American workers have priority in keeping their jobs over foreign workers on visa programs. To that effect, I would like you to respond to the following questions:

* What is the breakdown in the jobs that are being eliminated? What kind of jobs are they? How many employees in each area will be cut?

* Are any of these jobs being cut held by H-1B or other work visa program employees? If so, how many?

* How many of the jobs being eliminated are filled by Americans? Of those positions, is Microsoft retaining similar ones filled by foreign guest workers? If so, how many?

* How many H-1B or other work visa program workers will Microsoft be retaining when the planned layoff is completed?

My point is that during a layoff, companies should not be retaining H-1B or other work visa program employees over qualified American workers. Our immigration policy is not intended to harm the American workforce. I encourage Microsoft to ensure that Americans are given priority in job retention. Microsoft has a moral obligation to protect these American workers by putting them first during these difficult economic times.

Sincerely,

Charles E. Grassley
United States Senator

The following is an excerpt from Microsoft’s website on the testimony of Bill Gates at a Congressional hearing in May 2008

U.S. immigration policies need to allow American companies to hire the best talent. Gates calls on Congress to reform immigration policies to allow more highly skilled professionals to work for companies in the U.S. “At a time when talent is the key to economic success, it makes no sense to educate people in our universities, often subsidized by U.S. taxpayers, and then insist that they return home,” he said. “To address the shortage of scientists and engineers, we must … reform our education system and our immigration policies. If we don’t, American companies simply will not have the talent they need to innovate and compete.” Gates urges Congress and the White House to address this problem by extending the period that foreign students can work in the U.S. after graduation, raising the cap on H-1B visas, creating a clear path to permanent residency for high-skilled foreign-born employees and increasing the number of green cards. “The shortage of scientists and engineers is so acute that we must do both: reform our education system and reform our immigration policies.”

Funding for basic research should be increased. Gates believes basic research funding is an essential part of keeping American companies competitive and sparking new industries. “Even though we know that basic research drives economic progress, real federal spending on basic research has fallen since 2005,” he said. “I urge Congress to increase funding for basic research by 10 percent annually for the next seven years.” Gates said that federal funding for basic research supports the education of the next generation of scientists and engineers, and provides the raw material that U.S. companies transform into commercially successful products.

Here is one reaction by an elected representative obviously enamored by Mr Gates and a believer that the Darth Vader of IT brought worthwhile technology to the masses.

“Bill Gates has played a key role in our nation’s economic and technological growth for more than 20 years and I found his testimony today informative and compelling. I was most struck by Gates’ strong appeal to Congress to fully fund the America COMPETES Act. This new law makes a significant commitment to our country’s future by investing in math and science education and federal research. I will continue to vigorously advocate for funding of the America COMPETES Act,” said Rothman.

The excerpt below combined with asking government and the taxpayer to do his research for him are the things Bill Gates was really interested in.

I personally witness the ill effects of these policies on an almost daily basis at Microsoft. Under the current system, the number of H1-B visas available runs out faster and faster each year. The current base cap of 65,000 is arbitrarily set and bears no relation to U.S. industry’s demand for skilled professionals. For Fiscal Year 2007, the supply did not last even eight weeks into the filing period, and ran out more than four months before that fiscal year even began.

In summary the view from this blog is as follows. For regular readers the views here on Microsoft are known. As an example there are reports on another lawsuit against MS called ‘vista capable’ where customers are upset that hardware requirements for vista exceeded those stated or some such nonsense. While this blog detests the attitude of MS toward customers and the repeated crap software sold, if customers have not learned by now what they can expect from MS they deserve what they get. But that is not the central point of this post.

There was mention of funding research in the information provided. That’s nice. The question would be is it the taxpayer’s responsibility to pay for research or educating future employees? Is it fair for the private sector to benefit from those expenditures rather than fund their own research? There are technology transfer programs with the federal government whereby arrangements are made to move publicly funded research to the private sector. Is a fair monetary exchange made for those transfers? And for the last point is Senator Grassley’s latest expression of discontent to Microsoft just another politician trying to make points with voters?

As this post really relates to the current economic conditions and the mass frenzy to push bailouts and stimulus packages on the public dime something else needs to be said. Once government does something undoing it is nearly impossible and if it is possible there is much more pain and suffering involved than would have been present with precise and reasoned action. There is no need for speed since no one in Washington nor anywhere else can guarantee that any solution suggested will work.

If these spending programs are to be deployed then they should be done in such a way as they can be stopped on command and rather than huge outlays smaller amounts should be floated as test balloons to avoid even larger mistakes. The experience thus far with AIG and others in their arrogance to spend taxpayer money should be proof enough that planned spending will not work without deadly force as a protection. Just today CITI has decided to buy a private jet. Ya, they say it will not be paid for with bailout funds. Right. If you need bailout funds then you don’t have enough of your own money or you lied about needing bailout funds. In any event you don’t need to buy a private jet. Has this post made the point clearly?

Stanford Matthews
MoreWhat.com

Two and a half million jobs, no wait, three million jobs, no, no, that’s not quite right, four million jobs will be delivered by The One as long as he is allowed to empty what little may be left in the US Treasury. It may be going out on a limb but the view here is most elected officials are lawyers. If you think about trial lawyers of the ambulance chasing variety numbers have no real meaning to them. The amounts of money won for clients bears little resemblance to reality or reason. Putting a value on someone’s loss over a lifetime or similar lawyer’s equation may exaggerate the value of whatever they are trying to determine.

So it is no wonder the bailout frenzy has created more lawyer’s playing with numbers. It may be a good idea to require elected officials who will have any control over large sums of money to take at least a few classes in mathematics, economics and finance. Barack Obama and many others in Washington are ‘poised’ to raid the Treasury even more than the current Administration and Congress. Not only will the money you have already paid the government in taxes be used but money you , your children and grandchildren ever hope to earn may be at risk. The criticism that overspending in government places the bulk of the burden on future generations is not new. And the ever increasing length of time in which those in Washington have overspent and will continue to overspend finds no one asking one simple question.

How much money can the government spend in a given amount of time before we exceed our ability to ever pay it back and have any expectation of living whatever is defined as a normal, reasonable or typical existence? At what point do we reach a level of borrowing on the future in which the Chinas or Japans of the world no longer offer financing or the terms rise above our capacity to pay? Granted their are differences between what is available in personal, commercial or government finance but the common thread is the math. There have to be limits. We need to know what they are. And we do not need to exceed them or even reach them or get close.

Stanford Matthews
MoreWhat.com

U.S. President-elect Barack Obama says his economic recovery plan is projected to save or create between three and four million jobs by the end of 2010.

In his weekly radio address Saturday, Mr. Obama says more than 90 percent of those jobs are likely to be in the private sector. The remainder are expected to be public sector jobs that will be spared from state and local budget cuts.

Earlier this month, Mr. Obama said his economic stimulus plan would create or preserve up to three millions jobs.

The president-elect says the new figures come from an analysis on the job impact of his recovery plan. Mr. Obama says he ordered his economic team to conduct the study so that Americans can see what his plan will do for them and the faltering economy.

In the report, Mr. Obama’s economic advisors warn the estimates are subject to significant margins of error because they are based on a hypothetical economic package.

The report says Mr. Obama’s plan will put more than half a million people to work on clean energy initiatives and another 400,000 on repairing the country’s roads, bridges and schools.

The president-elect says Friday’s announcement that the country lost half a million jobs in December alone is a “stark reminder” of how quickly Washington must act to revive the economy and create jobs.

Mr. Obama’s proposed stimulus package also includes an extension of unemployment insurance, health coverage and tax cuts for most Americans.

Aides to the president-elect say the plan could cost $775 billion.

You can usually count on James Carville to provide a quote that gets passed around. In this case he may be offering advanced excuses for more liberal scandals in the days ahead. Does he know something or does it just make sense to ease the burden of the coming scandals? Carville expects a streak of scandals for the Democratic party. His reasoning offered is not complicated. “With two big Democratic elections in a row, Democrats now hold a larger majority — 340 U.S. representatives, senators and governors. Simple math and history point to the fact that the more elected officials a party has in office, the more likely its politicians will get caught up in some sort of scandal.”

That’s great Mr Carville but you should have gone one step further. Just pick the percentage. If there is a 10% chance that would mean 10 politicians out of 100 or 20 out of 200, etc. That would also follow your logic of more politicians, more chance for scandal. Not a large leap for anyone to come up with this prediction. Gee, the more criminals there are the more crime there will be. That’s a tough concept to understand, NOT. Would it be fair to say it’s the percentages, stupid?

At first it appeared that the distinguished jurist Chief Justice Roberts had abandoned any consideration for decorum when publicly ‘begging’ for a pay raise. After a review of his case (snicker, snicker) it turns out he may have a point. “I must renew the judiciary’s modest petition: Simply provide cost-of-living increases that have been unfairly denied,” Roberts said in his annual year-end report on the federal judiciary.

Alone among federal employees, judges will not receive a cost-of-living allowance in 2009. Members of Congress are getting a 2.8 percent boost, worth $4,700. But they refused before Christmas to give an identical increase to judges.

Federal trial judges are paid $169,300 a year. Appellate judges make more, ranging up to Roberts’ salary of $217,400. The salaries pale in comparison to what top lawyers earn in private practice.

Yup, the Chieft Justice has a point. But part of that being a reminder of how twisted the thinking is in Congress does not help his case. The question of pay for services rendered is not a new topic. A popular set of common arguments hold that either you cannot recruit worthy talent without adequate pay countered with you should seek other employement if income is a higher priority than service. Both arguments have flaws but the point is at 200K plus federal benefits and pensions, etc., there are not that many people who will feel sympathy for Roberts or his colleagues.

Should have known that a story about moderate Republicans being the most popular politicians had nothing to do with their faithful support of conservative principles combined with a statesman-like demeanor and the ability to affect reasoned compromise. Quite the contrary as it would appear their popularity comes from the fact they are targets to be bought off if the Dems cannot overcome the lack of a filibuster-proof Senate requiring a 60 seat majority.

Just like the battles over immigration reform, in this case again, weasel Arlan Specter features prominent in the story. Although he thinks there are so few ‘moderate’ Republicans, sometimes referred to as RINOs, that they could all fit in a phonebooth it is more likely they could easily fill a corporate board room.

“The power of moderates is declining in the country: They are fewer in number and the country has polarized,” said Thomas F. Schaller, a political scientist at the University of Maryland. “But in any vote where you are down to one to two votes there are always going to be people in the middle who have decisive power.”

There in lies the rub. If there were no moderates and it never came down to buying off a vote the measure in question would fail because it should. Instead we get the crap legislation that comes with politicians who won’t stand their ground. The same problem is found with pork, earmarks, lobbyists and amendments. All they do is load someone’s wallet for a vote.

Stanford Matthews
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Unemployment in the United States rose sharply last month and government figures released late Friday show the number of new jobs was at its lowest level in four years.  As VOA White House Correspondent Scott Stearns reports, President Bush is considering more tax cuts in an effort to boost the nation’s sagging economy.

American unemployment rose to five percent last month, the highest rate since 2005.   And new employment statistics released Friday show the U.S. economy added only 18,000 new jobs in December, far fewer than most economists expected.

Following a meeting with his top financial advisers, President Bush said that while the Friday jobs report shows some uncertainty, the U.S. economy remains strong.

“This economy of ours is on a solid foundation, but we can’t take economic growth for granted, and there are signs that will cause us to be ever more diligent and make sure good policies come out of Washington,” he said.

The president says consumer spending is still strong and core inflation is low, but home values are declining and gasoline and food prices are rising.

Mr. Bush warned opposition Democrats in Congress against raising taxes, saying that is the worst thing lawmakers could do. But he did urge them to pass legislation that could help more Americans refinance their homes.

“When Congress comes back, I look forward to working with them to deal with the economic realities of the moment and to ensure the American people that we will do everything we can to make sure we remain a prosperous country,” he added.

The ongoing financial crisis over adjustable-rate mortgages continues to affect the overall economy and not just home sales.  There has been a cut in jobs in the building industry and the Labor Department report also shows a drop in factory jobs.

President Bush is considering an economic stimulus package that could include more tax cuts. In a Thursday interview with the Reuters news service, Mr. Bush said he and his economic team are considering all their options and he probably will not decide whether to act until his State of the Union address later this month.

Democratic Senator Charles Schumer is urging the president to take action to avoid what the lawmaker says could be the economy tumbling into recession.
By Scott Stearns
White House
04 January 2008

The government reports unemployment in the United States has risen to a two-year high, and that unsettling economic news triggered a sharp decline in financial markets Friday.