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Economics

President Bush makes a few good points…

President Bush
Pres Bush (GG file photo by Doug)

In his radio address this week, President Bush raised several good points about the economy and what we should be doing about rising enegy costs. While I’m not all that "stimulated" by the so-called rebate checks coming our way, I do know many people that DO need that money, and it will help, no doubt. If the government is going to spend money to buy our way out from a recession, at least by giving it directly to the people, it lets US decide how and what to spend it on. (This is how I’m viewing it, anyway, because then it makes me less uptight when I think about the thing…)

The radio spot hit on several items near and dear to where I’m at: Drilling in Alaska, build refineries, and restart the nuclear power industry. Additionally, he rightfully bags on the farm bill, and, yes, he once again calls on Congress to make his tax cuts permanent…

THE PRESIDENT: Good morning. This week, the Commerce Department reported that GDP grew at an annual rate of six-tenths of a percent in the first quarter. This rate of growth is not nearly as high as we would like. And after a record 52 months of uninterrupted job growth, April was the fourth month in a row in which our economy lost jobs, although the unemployment rate dropped to five percent.

My Administration has been clear and candid on the state of the economy. We saw the economic slowdown coming, we were up front about these concerns with the American people, and we’ve been taking decisive action.

In February, I signed an economic growth package to put more than $150 billion back into the hands of millions of American families, workers, and businesses. This week, the main piece of that package began being implemented, as nearly 7.7 million Americans received their tax rebates electronically. Next week, the Treasury Department will begin mailing checks to millions more across the country. And by this summer, it expects to have sent rebates to more than 130 million American households. These rebates will deliver up to $600 per person, $1,200 per couple, and $300 per child.

 

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Economic Facts and Fallacies. If only more people knew this stuff…

. Our buddy John Hawkins at RightWingNews interviewed Thomas Sowell late last week. Discussing his latest book, Economic Facts and Fallacies, Sowell offered a few tidbits showing why he has few peers when it comes to the subject: what we’re really saying is that there are lifestyle differences that have profound effects on economic outcomes. So, … Read more

Ooh baby… Give me some STIMULUS! Yes… Yes… Huh? That’s it?

Stimulus Package
One shot deal?
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I’m sorry, but I’m havin’ a bit of trouble getting overly excited by the "stimulus" package being offered up by President Bush and his spend-happy pals on Capitol Hill. And of course, it’s bad enough as it is, but, as usual, there are some in the Senate that want to add even more scabs to the package…
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Don’t get me wrong–  as a small business owner, I appreciate the tax cuts offered should I decide to purchase some new equipment. And I do like the drop in the rate on the first 6/12K of income. It would be nice to see this accompanied by a meaningful and much deeper cut in the overall rates. Because I employ people, I see how much money is taken from everybody’s paychecks, plus from my business as a whole in addition to what they pay. A once time payment, as also included in the package is great, but for most people, in an instant, it will be gone.

"How’s your ‘stimulus’ doin’, Frank?" 

"Not bad, Doug. I paid for a tank of heating oil, and the wife bought some new clothes."

We know where THAT stimulus ended up, don’t we?
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The Bad Bush Economy…

. . As we approach the holiday season, despite the fact that we continue to pay ever-higher costs for energy of all types, it has been my observation that the economy is indeed much stronger than one might be led to believe. If you listen to the doom and gloom politicians and their comrades in … Read more

Stop the Swine!

  Know that feeling you get when you see a solid chunk of your paycheck missing because its been sent off to some obscure place in a federal district far, far away? You feel like your getting ripped-off by the man, but you convince yourself that its necessary to fund a strong military and protect … Read more

Attention Wal-Mart shoppers…

Wal-Mart
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In recent years, I have come to appreciate and admire the marvel of American logistics and ingenuity that is Wal-Mart. Unfortunately, others don’t see it in the same light. In a number of posts stretching back over the past year and more, I have written quite a bit about the ongoing campaign against Wal-Mart by labor unions and their friends in the Democratic Party . In a posting from last November, I reported:
The Democratic war against Wal Mart moves on. With the socialist-leaning party in power, one wonders if the assault on the premier American retailer/ logistics giant will intensify and begin to cause the company real damage.
As I said in this one,
Wal-Mart represents the latest target in the left’s war on successful American businesses.
Last October, I discussed the vehicle chosen by those joining in the assault: the WakeUpWalMart campaign. At the time, I was writing about the NEA teacher’s union’s joining with that group as they attacked Wal-Mart. As found on their website, one sees the union roots of the effort:

Participation in the campaign, which is organized by the United Food and Commercial Workers Union (UFCW), the AFL-CIO union with primary jurisdiction for employees of retail stores, was approved by the NEA Executive Committee in May 2005 and endorsed by the 2005 Representative Assembly in July 2005.

Of course, just because those on the outside looking in say something is bad, it turns out, sometimes, when you consult people actually having firsthand information, the real story turns out to be quite different. In this post about a group comprised of Wal-Mart employees (Working Families for Wal-Mart), I pointed out:

I know several people that work for Wal Mart, and they genuinely like their jobs. Nobody forces anybody to work there.

Followed by this:

Nobody forces anyone to shop there. Imagine that- willing employees serving willing customers- What a concept!

Indeed. Did you know that Wal-Mart, under constant attack by those who always claim to be for "the little guy," saves the average American family who willingly patronizes them more than $2,500 per year? And now, for those willing customers, there’s a way to get involved and help defend the company that provides such a level of satisfaction: Wal-Mart New England’s Customer Action Network (CAN).

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A union hack, apparently taking the “high road,”, decries American corporations and their “unmitigated exploitation” of workers. What, did they want them to actually work?

California union members assaulting Arnold supporter in 2005 . When it comes to pointing fingers at who’s to blame for the continuing exodus of manufacturing jobs to China and other such places, I have long believed that the hardcore union types should look in the mirror for a glimpse of at least one of the … Read more

A conversation with John Ratzenberger

. Following Tuesday’s "Keep it Made in America" town hall style meeting here in NH, I had an opportunity to spend a few minutes with John Ratzenberger. We discussed the value of children doing things with their hands, playing outside away from the computers and videos, getting up early, and nurturing a "work ethic." We … Read more

How do we compete with this?

This video, shot in a factory somewhere in China, shows a multiple- ton press making what appears to be metal pan-inserts one might find in a buffet-chafing dish. What you are watching is workers sitting in the press itself, in between the form punches & dies, moving the parts by hand in progression from start to finish. The press appears to be the type with the big counterweight wheel as opposed to hydraulic.
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Anyone even remotely familiar with industrial settings here in America knows that what you see– people sitting within a machine such as a press– isn’t in the least bit safe, nor legal. And, rightfully so. A press with the counterweight wheel cannot be quickly stopped, nor can it be retracted in the event of an emergency, like if the worker’s hand got caught in the pan. Hydraulic machines, the chosen method here, can be easily reversed and withdrawn. Additionally, most shops found here and in other free countries use very expensive automated progression type die machines that eliminate the need for people to move stuff through dangerous portions of the works.
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If the Youtube above had been shot at a factory here in the United States, you can be sure that the owner’s face would quickly appear on wanted posters in Post Offices all around the country. Geraldo would report in front of the offending place, tears flowing, on the cruel treatment of such hapless examples of downtrodden humanity. Public outrage would be the order of the day– again, rightfully so. In today’s world, there is no reason for people to have to work in such conditions. Safety for workers is the top order of the day throughout today’s business world, excepting places like China, of course.

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Liveblogging from the Palace Theater in Manchester: “Keep it Made in America” Town Hall Meeting.

John Ratzenberger….Keep It Made in America….Granite Grok
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The GraniteGrok crew is here at the Palace Theater in Manchester, New Hampshire tonight where television and film star John Ratzenberger and the Alliance for American Manufacturing (AAM) are hosting the ‘Keep it Made in America’ Town Hall Meeting.  This is the first in a series of events, which will travel to seven cities in twelve weeks to highlight the growing demand among voters that the presidential candidates address the challenges facing American workers and manufacturers.
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What I find intriguing about the AAM is that it is made up of both manufacturers AND labor union elements– working in concert with each other in common purpose as opposed to the more traditional stances in opposition to each other. Judging by the tee shirts, there is a good number of union related people here this evening. I’ve also spotted prez candidate Vern Wuensche in the crowd, along with some McCain people. Mayor Giunta is welcoming the crowd and making introductions. Scott Paul, the executive director of the AAM is now speaking. BAA Systems. Steelworkers of Manchester are represented. Bringing together Dems, Repubs, union, management,etc. in common cause for US manufacturing. Sen. Ted Gatsas & Sen.Betsy Devries are here also. Gatsas is recalling the history of the mills here in NH. "Made in USA" is still an important slogan. There is much excitement and enthusiasm here in the room.

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Not paying a mortgage, but paying the price.

As readers of the ‘Grok are aware, we have been selected to receive and forward reader questions for candidate Fred Thompson to answer at some point. While we are still awaiting something from the campaign, the questions continue to trickle in. We got an email yesterday that happened to overlap with my prior posting about a possible … Read more

Tax Payers Against a Wall Street and Mortgage Bailout

. A new group, "Tax Payers Against a Wall Street and Mortgage Bailout", has started an online petition drive asking Congress NOT to bailout the financially ailing mortgage industry. I am fully supportive of this action. To take MY money to give to unscrupulous (or uncaring, knowing the "fix" would come at the right time) money lenders who made … Read more

What a deal!

    . Next time you feel bad for those poor state employees toiling away at their difficult jobs with little to no thanks or appreciation from the public, take heart in knowing that they will at least be getting a fairly decent raise. 10% in two years. . "Oh but Doug, the poor workers … Read more

Not yours to give…

  Col. David Crockett . Several days back, I posted a piece about the Federal government giving out $40 coupons (my tax dollars!) to people in order to purchase digital-to analog converters for their TV sets rendered useless by the government-mandated switch to digital broadcast television. . It is apparent that our government is on an unrelenting … Read more

“[I]mposing taxes on us without our Consent”

  Boston Tea Party. Is it time for NH to dump the Democrats overboard? . Some arguments are just made to go beyond face value into the realm of high philosophical debate. Such is the union-building legislation passed by the New Hampshire state Senate, SB-88. Consider the details, as reported by Bob Cook of the … Read more

Spend it like you’ve got it!

. What does New Hampshire want? Responsible fiscal policy. What did the New Hampshire House deliver? A record $10.4 Billion state budget. More information at: NHelection.info

Dems to “fix” college loans. Uh-oh.

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As the Lambert family finds itself in the final stretch of its first foray into the financial quagmire of grants, loans, and scholarships involved with sending a child into college (Really now, who doesn’t love the FAFSA form?), we often find ourselves searching the web for something on the topic.
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In the course of such research, I stumbled across an interesting and somewhat disturbing story located on one of our favorite blogsites here at the ‘Grok– GOPProgress. It detailed a little-known battle taking place behind the scenes over private sector versus government distribution and administration of federal student aid loans. And, as one might guess, because it involves fundamentally opposing world views (public vs private), it becomes a partisan issue, thus proving again that party affiliation does, in fact matter. Jess Mahone writes
One reason Republicans lost in 2006 is that they stopped being reliable stewards of the public trust.  It is becoming clear, however, that the Democrats who now control Congress are much worse–whereas Republicans screwed up due to their ineptitude, the Democrats are wasting money as a matter of policy.
I don’t think you’d get much of an argument from anybody on that one. He continues, giving an excellent example that proves, once again, that no matter how bad the Republicans might have been, the Democrats are worse. Writes Jess,

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A warning for NH…

Our friend BDP at AnkleBitingPundits weighs in with another great piece on failing public employee pension funds. This time it’s New Jersey: I know that many of your eyes glaze over when I talk about the coming financial disaster due to the bill coming due for public employee pensions. But the fact is that it’s … Read more

A secret well kept: the good economy. Bush on the radio this week.

This week President Bush talks about the biggest untold story of the Bush II era: the robust economy. It’s a good thing he mentions it, because Lord knows the MainStreamMedia won’t. Why, that might reflect well on the Bush Administration, and we can’t have that now, can we…
THE PRESIDENT: Good morning.
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This week was filled with more good news about America’s economy. We learned that our economy grew at an annual rate of 3.5 percent in the fourth quarter of last year. Overall, our economy grew 3.4 percent in 2006 — up from 3.1 percent in 2005. The Dow Jones reached an all-time high this week for the 27th time in the past four months. And we learned that America created 111,000 new jobs in January, which means we have added over 7.4 million jobs in the past three-and-a-half years.
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This good news is a result of the hard work of the American people and pro-growth economic policies like tax relief. By cutting taxes, we put more money into the hands of American families and small businesses. You have used this money to produce strong and lasting economic growth. And now Congress needs to make this tax relief permanent, so we can keep America’s economy growing.
This really is the very essence of the difference between a President like Bush, who believes WE THE PEOPLE know how to best spend our own money, versus the liberal Democrat viewpoint, as exemplified by the Clintons, who think only government knows how to best do that. Unfortunately, with the new Congress, tax cuts will only be a fond memory of days gone by…
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President Bush continues:
Pro-growth economic policies also play a vital role in our plan to balance the Federal budget. Our growing economy has produced record levels of tax revenue. This increase in tax revenue has helped us cut the deficit in half three years ahead of schedule. And on Monday, we will take the next step when I submit to Congress a budget that will eliminate the deficit by 2012.
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To meet this goal, we must set priorities for government spending. My top priority will continue to be keeping America safe and winning the war against extremists who want to destroy our way of life. The budget I will submit to Congress includes the cost of funding the global war on terror, including in Iraq and Afghanistan. Our troops deserve our full support, and this budget gives them the resources they need.
I hope he has a few bucks tucked away somewhere in there for dealing with Iran, too. He then discusses the need for restraint in spending in other areas in order to get a handle on the budget. It’s too bad he didn’t try this when the GOP was in control of Congress. Perhaps some restraint might have helped in the past election. Now it’s too little, too late. He then suggests this:
Cutting the deficit during a time of war requires us to restrain spending in other areas. One good way to help eliminate wasteful spending is to pass earmark reform.
Hmmm. Why now? Why not when the Republicans were in charge? Oh, that’s right- the Republicans in Congress were addicted to these. Now they’re out. It seems strange that this might have a better chance of actually getting fixed with big-spending Democrats, but, whatever– just do it! The President tells us what these are and why they must go:

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