How Does Obama’s New Jobs Program Create Jobs?

Unable to get his lame, piece-meal “jobs” plans through Congress, Obama is now making lame, piece-meal changes in the agencies he manages, unveiling a new mortgage refinancing strategy today.  Apparently, he’s also going to lay out a new student loan program on Wednesday.

How are any of these programs going to reduce unemployment?  If I’m able to refinance my underwater home, it does not change my unemployment situation.  I may have more money in my pocket, but the bank will have less – it’s not like this will inject more money into the economy.  And more student loans?  So we’ll have more over-educated, unemployed buried in debt?

These programs may be brilliant, but the problem is that they’re programs.  I’ve seen it all over the Third World – lots of social programs but rotten economies because the government fails to execute its key functions: creating a stable and efficient legal and physical infrastructure.

I dunno.  I just don’t think Obama gets it.

 

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About Mystic Cowgirl

I worked overseas in the aid game for longer than I'd like to admit and learned several important things: 1) Third World countries aren't poor because America is rich. They're impoverished due to socialist governments that provide neither rule of law nor basic infrastructures; 2) These socialist governments redistribute wealth from taxpayers to the government workers. There's no benefit to the poor or downtrodden, and certainly not to the general welfare in terms of infrastructure improvements. 3) America is moving toward the Third World model. Rule of law has been subverted because equality under the law is disappearing as special interests carve out exemptions to regulations and special favors under the law. The redistribution of wealth to government began decades ago -- total compensation for government employees now outpaces salaries in the private sector.
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