Thursday, December 1, 2011

Gah! It won't create jobs, you twit!

Really, I'm not in the habit of insulting people--especially our elected officials--by calling them names, but the stupidity and arrogance on display in Washington, D.C. has just got to stop. The latest politician guilty of both is Nancy Pelosi, who said--with regard to Obama's proposed payroll tax break plan--that this plan:
“has more economic growth than what the Republicans are proposing. It creates more jobs than the Republican proposal.”
Extending the payroll tax cuts won't create anything. In fact, the only demonstrable impact of such an extension will be an increase of the National Debt, since the government will be forced to borrow monies to fill the shortfall in the Social Security Trust Fund (or I guess they could decrease Social Security payouts across the board).

All this bone-headed talk of job creation is really getting tiresome. I'm not sure exactly when it started, but I'd very much like to figure out who is responsible, because I don't remember such dimwitted terminology being commonplace among politicians and pundits ten or fifteen years ago.

The real chore we have before us--when it comes to the economy--is getting the technocrats out of the game. As long as we have such people that assert their expertise on economics and public policy in D.C., we'll have politicians making outlandish and stupid claims like Pelosi's. The really sad part about this is that she doesn't even know how clueless she is. She actually thinks she knows what she is talking about. And even if she got exactly what she wanted--and the there was no demonstrable creation of jobs--she still wouldn't concede the point. As we already know from the failure of the Stimulus package, she'd just switch to "saved" jobs.

Cheers, all.

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