Sunday, August 15, 2010

The New Abnormal

Quoting Doctor Zero at HotAir:

image “The real unemployment rate, counting long-term discouraged workers who have dropped out of the labor force entirely, is over 16%.  Some metrics place it closer to 21%.  Does anyone really believe that the free market, of its own accord, would choose to leave a fifth of the working population idle?.”

“The New Abnormal is becoming a big part of the Democrats’ pre-election spin.  Americans are supposed to accept their reduced standard of living and shrunken economy.  They should lift their watery eyes in gratitude to the noble Democrat Party, which won’t let any semblance of fiscal responsibility stop them from looting the future to provide endless unemployment benefits.  The entire concept of unemployment has become a welfare hammock, with people like Biden essentially telling the jobless that a substantial number of them (eight million!) can expect to spend the rest of their lives that way”

“These factors combine to make the small businessman – seated at the controls of America’s engine of job growth – highly responsive to negative income and cost projections.  This Administration has absolutely hammered the small businessman with enormous costs and mandates.  Growing enough to cross the line that triggers the heaviest burdens of ObamaCare can swiftly obliterate a small business.  Reckless deficit spending makes them nervous about monetary policy.  Gigantic bills no one has read – or, in one especially shameful case, named – are packed with buzzing swarms of unintended consequences.  It’s no coincidence that unemployment grew worse as the land mines strewn through the ObamaCare bill began detonating.  Who knows what will come next?  There are some blood-curdling sounds coming from the fetid swamp of that lame-duck session of Congress.  It’s obvious from all the “unexpected” economic news that no one in Washington knows what they’re doing.”

“There is no reason for a sensible small businessman to do anything but dig in, protect his assets, and await less greedy, more competent leadership.  The decision to reject the New Abnormal will be made at the ballot box, not in the boardroom.  That’s why nobody is hiring right now.  We all understand that we need to fire a bunch of people in Washington first.”

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