Key To Joblessness -- The President's Response

In a July 9, 2011, Los Angeles Times news story, this is what President Obama said was the key to solving record unemployment:

• more spending on high-speed rail, roads and bridges; 
• improvements to the patent system; 
• free-trade agreements; and, 
• extending a one-year payroll tax cut that is expected to provide an average benefit of $695 per worker.

With regard to high-speed rail, roads and bridges -- that's already been tried, and even the President joked there are no shovel-ready jobs. Talking about "spending on high-speed rail, roads and bridges" won't change anything before the 2012 election.

With regard to the patent system: you have got to be kidding. Exactly how soon would new jobs materialize even if the patent system was improved overnight? I didn't even know it was broken; the companies suing Apple are doing very, very well. Of all the things he could mention, why the patent system? Which company/industry has his ear on patent protection? Google, GE? Probably both.

Free-trade agreements? Hmmm. It ain't gonna happen, and if it did, we wouldn't see results for months, if not years. My hunch is the free-trade agreements have nothing to do with "free trade" at all, but rather, protecting union jobs in the US.

Payroll tax cut? Another $700/worker/year -- divided by 50 weeks, that amounts to about one McDonald's meal out for a family of three each week. And it's the seniors that don't work that need the money. Heck, just send everyone $700 on November 1, 2012, for walking-around money.

Due To Traveling and Family Activities, Much Less Blogging

I apologize for a lot less blogging yesterday and today.

I am traveling and involved in a lot of family activities.

I hope to catch up this evening.

E15 Likely To Cause Problems -- Witnesses Tell House Panel

Well, doh!

Link here.

Federal approval of higher ethanol concentrations in gasoline without further testing could seriously damage engines instead of improving the environment, several witnesses told a subcommittee of the House Science, Space, and Technology Committee on July 7.

The US Environmental Protection Agency’s desire to allow more ethanol to be used in conventional vehicles should not be allowed to harm investments motorists make in safe, reliable, and economical vehicles, according to Bob Greco, American Petroleum Institute downstream and industry operations director. Greco told the committee’s Energy and Environment Subcommittee: “The oil and auto industries cannot support a premature action that could put consumer satisfaction and safety at risk.”

Of course, this may improve the jobs picture: hundreds of thousands of new auto mechanics will be needed to repair engines damaged by E15. Just saying. 

Now if only the EPA would grant permits to fossil fuel industry as fast as they approved E15.