Private sector not ‘fine,’ so most are hoping for change
June 14, 2012 01:20 AM | 1497 views | 13 13 comments | 10 10 recommendations | email to a friend | print
If the private sector of this country is doing “fine,” as President Barack Obama absurdly put it the other day, we’d hate to see what it might look like if it were distressed.

The private sector, and the economy in general, are doing so poorly that it comes as a shock to most people to learn that we are not still in a deep recession. But as a point of fact, the recession officially ended in June 2009, according to economists. The problem is that the “recovery” has been so feeble that it feels like we are still in a recession. And even though the recession is over, we certainly are not back to where we were before the recession. Not in Cobb County, not in north Georgia, not anywhere in the country, for that matter.

Yet President Obama says the private sector is “doing fine.” It’s not in Georgia, where the unemployment rate of 8.9 percent is even higher than the national average of 8.1 percent. And let’s not forget that neither of those numbers takes into account the millions of Americans who have simply stopped looking for work. Only 69,000 jobs were created nationwide last month, for goodness sake!

And then came word this week that the net worth of median American family has fallen nearly 40 percent since 2007, most of that period obviously coinciding with Obama’s watch.

Yes, the president sees weakness — but in the public sector, not the private one. He thinks government needs to grow, even though the public sector unemployment rate — 4.2 percent — is just half that of the private sector. Obama wants to spend your tax dollars to create more good-paying, bountiful-benefit government jobs. He thinks that will cure unemployment.

Not so, says U.S. Sen. Johnny Isakson (R-Ga.).

“The private sector is not ‘fine,’” he said. “In my recent travels across Georgia, I’ve talked to many people in the private sector who are not doing well, and they are not doing well because of government overregulation and uncertainty. If we could do anything to empower our economy right now, we should call a regulation timeout. In addition, this administration has tried to eliminate risk. Government’s job is not to eliminate risk, it is to mitigate risk. If you eliminate risk, you take the power of investment away from the private sector and entrepreneurs.”

Obama has proven once again that he has no fundamental understanding of how jobs and wealth are created. In fact, they come from the private sector. And if the private sector does not create them, they are not created at all. Government does not create wealth or income. It merely sucks capital out of the private sector and transfers it to a variety of favored constituencies and sectors — and takes a cut for itself in the process.

The public sector continues to grow in most parts of this country. It’s the private sector that’s barely hanging on — and hoping for change.
Comments
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J Balfour
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June 20, 2012
"Corporations are richer than ever and Mitt an d his multimillionaire friends are just fine" is what Obama should have said
Grandson of Flubber
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June 15, 2012
To follow-up from my previous post, it is the public sector which is doing just fine. The private sector is in terrible shape, which become particularly evident when compared to public sector unemployment. See the chart in the June 14, 2012 article by National Review entitled "Only the Public Sector Is ‘Doing Fine’". There is a significant negative difference in unemployment in the private sector versus the public sector. Sorry, but Obama's meme that the public sector is doing just fine is a flat out pants-on-fire lie.

G. Flubber III
RedBoard
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June 15, 2012
Poor Kevin. He has about as much understanding of the business world as does his buddy, O-Blama.

Stock markets are roaring along he says. That's a laugh. Look a little more carefully, Kevin. Do some actual research before writing such silliness. Can you say "Greece" or "Spain" or "Europe", Kevin?

In Kevin's world, corporate profits and surplus cash should all be donated to the State so the massive efficiencies of government can do all things good for all people. That worked out real well for the former Soviet Union, didn't it.

And as we watch an economy wallow along...just like the D-controlled Senate that can't even pass a flippin' budget for over 3 years, Kevin seems to think the GOP is bad because they won't pass a deficit-expanding jobs bill that doesn't even really exist in any reasonable or workable form.

We don't need more public sector workers, Kevin. We need jobs that produce something...like tax revenues. Your arguments are miserably lame, and economically void.
And you forgot
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June 15, 2012
to add, morally bankrupt.
nojobs!
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June 14, 2012
I've been out of work for 9 months and can't find anything good---the private sector is terrible, not "fine."
Grandson of Flubber
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June 14, 2012
An interesting article from Victor Davis Hanson entitled "The Liberal Super Nova", provides a statement that is poignant to this discussion:

"From Greece to Italy to California to Wisconsin to Obama’s Washington, the verdict is in: the democratic statist model of trying to provide cradle-to-grave benefits, administered by an elite technocratic class, using demonization to bully the opposition and redistribute income, not only does not work, but cannot ever work."

G. Flubber III

what the
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June 15, 2012
Victor Davis Hanson has been described as a neoconservative and has stated "I came to support neocon approaches first in the wars against the Taliban and Saddam, largly because I saw no alternative". Hanson has been a strong defender of George W. Bush and his policies especially in the Iraq War. Just the kind of backward thinking individual we should listen to.
@what the
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June 15, 2012
Big deal about your allegation that Mr. Hanson is a neoconservative. I used the quote to make a point about statism and how it has failed, continues to fail, and always will fail. The statment, in my opinion, remains valid no matter who said it. The march to Euro-styled socialism is repugnant to me as an American. The reference to Mr. Hanson was to credit the source of the quote and not plagerize. Your comments do not refute the idea.
Kevin Foley
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June 14, 2012
The private sector IS doing fine. Corporate profits are up. The markets are roaring along. CEO pay is at record levels.

The private sector is sitting on more than $2 trillion it could invest in the American economy and more jobs while the GOP leaders in congress refuse to pass Obama's jobs bill and Romney says we don't need more firefighters, policemen or teachers.
rjsnh
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June 14, 2012
Are you guys just making this stuff up like some of the news on "Faux News"....Your last sentence is CLEARLY in error and you must be well informed enough to know that...be honest, which sector has shed jobs in recent years and which sector is adding them? For goodness sake...check the facts before you start editorializing nonsense and misinformation.

Cobb Voter
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June 14, 2012
And yet the only real choice we have is to replace the current progressive with another progressive who implemented healthcare reform in Massachusetts. It is like our last gubernatorial election here in Georgia, no real choice for leadership at all.

How VERY sad for America!
rjsnh
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June 14, 2012
I guess you wouldn't want our leaders to be progressive....I guess you'd prefer them to regressive....the more regressive the better....I guess you're right....far right, that is.
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