Gosh, I thought it was Thursday already. So much buzz about the Big "Jobs" Speech, and here I thought it would be coming up this afternoon sometime, only to discover it's only Wednesday, and the leaked Obama "Jobs" proposal is about what was expected and it's utterly laughable.
But then, this administration has never had a real Jobs Program, nor will it have one for the rest of its term. As I've said many times, it was clear enough by the Inauguration that Team Obama had no interest in any kind of Jobs Program that would actually keep more than a few people working who might otherwise be unemployed, and that would actually put the unemployed back to work. High unemployment drives down wages and benefits for those who can find or maintain employment and this is a very pleasing state of affairs for the employer class. Unemployment, therefore, is not to be addressed with a Jobs Program.
We keep hearing the myth that public sector jobs are not "real jobs" when in fact they are, even if they are only make work. There is such an incredible amount of work to be done, however, that there is little chance that any public works program would be "make work" at the present time. Public sector jobs are "real jobs" that actually contribute to the overall economy and can significantly increase "demand" -- just as household debt relief can -- which in turn expands the economy. Even Nixon knew this -- and it worked.
So you can be sure that the Obama administration will never propose nor even entertain the notion of a public works jobs program now or in the future. They don't want anything that will demonstrate success in reviving the economy. They don't want a revived economy, they want to be able to talk about reviving it.
Instead, they will proposed extending unemployment benefits and an infrastructure "bank." Instead of household debt relief, they will propose yet another scheme to provide mortgage "help" that in too many cases makes things worse rather than better for households.
They will propose yet more free trade agreements which typically don't improve domestic employment.
They will propose direct aid to states to keep teachers and first responders on the job -- what does that mean to other categories of State and Local workers? Sounds like more "net zero."
They will propose patent reform and regulation roll backs.
They will propose continuing the payroll tax holiday, possibly extending it to employers, thus further weakening Social Security into the future.
They will propose unpaid "internships" instead of paid work until the economy turns around.
They will propose retraining programs for unemployed workers until the economy turns around.
On and on, dancing around the problem that workers cannot find work, employers are not hiring, and nothing is being proposed to put people back to work or to seriously address the problem of household debt.
But they'll talk about "jobs." So there is that.