Tony Marsh

Jared Bernstein, a former senior economic advisor to Vice President Biden, made the incredible statement that American corporations are reaping great profits overseas and there is no reason why they shouldn’t bring those profits home.  It seems he’s never considered the fact that businesses are making profits overseas because the tax systems and regulatory environments there are better, and that the U.S. penalizes enterprise, making profitability more difficult here.

What is it about cause and effect of investments seeking the most efficient return on capital that liberals do not understand?  The ideas of liberals like Obama, Krugman and Bernstein are, however, perfectly consistent with the idea that you can advocate policies based on their emotional appeal and political advantage without regard for their ultimate result.

Witness the President’s demand that we extend unemployment benefits as part of economic stimulus.  Clearly, no one wants those who are unemployed to suffer more than they already have.  But Obama uses even these innocents in his political calculations.

Why were unemployment benefits initially extended to January of 2012, or in this case, thirteen months?  Why not a calendar year or 15 months which would align on a quarterly basis? Could it be that the timing for Congress’ consideration for benefit extension falls just before Christmas?  Rather was the timing coincidental with the start of the 2012 presidential campaign making it unpalatable for politicians to apply what will certainly be considered harsh treatment of the jobless if the fiscally responsible try to advocate against a crippling debt expanding extension of benefits.

It was in his very insistence that Congress play “no games, no politics, no delays” that the President showed his own motives.  Every single statement he made was carefully calculated to elicit an emotional response.  Veterans shouldn’t have to fight for jobs; small businesses must be helped to create jobs; students can’t learn in dilapidated buildings; we must keep policemen and firemen on the streets – every statement true, but none relevant to the actual legislation he proposed.

The reality is that every one of these groups would be hurt by Obama’s plan right along with the rest of us.   He either doesn’t understand or doesn’t care that continued borrowing and spending by government is not just irresponsible, it’s reckless.  It assures we slam into the coming debt wall at a speed our economy cannot withstand. 

It is time to face reality.  It is time Americans heard the truth.  It is time for leadership. 


John Ransom | Create Your Badge

See more top stories from Townhall Finance. New Homepage, more content. Be the best informed fiscal conservative:

John Ransom Congress Likely to Cram Down Solyndra Billionaire
Political Calculations Gas Prices, the Unemployment Rate and Desperation
Mike Shedlock Hold on to Your Homes: Mortgage Default Notices Surge
Stewart Scott The Evolution of a Pakistani Militant Network
Bill Tatro Fire Foreign Workers; Hire Americans
Tony Marsh Obama Sends American Con Act to Congress
David Malpass Europe Tilting a Bit Positive
Jeff Carter Dems Aim to Tax Fund Business
Eric Singer Time for Republican Jujitsu on Social Security
Michael Vodicka Economy Down, Pawn Stocks Up - Investment Ideas
Sheraz Mian Inflation, Jobs & Manufacturing - Analyst Blog
Bill Wilton NetEase.Com - Aggressive Growth
Email Ransom thfinance@mail.com
Twitter http://twitter.com/#!/bamransom
John Ransom Congress Likely to Cram Down Solyndra Billionaire
Political Calculations Gas Prices, the Unemployment Rate and Desperation
Mike Shedlock Hold on to Your Homes: Mortgage Default Notices Surge
Stewart Scott The Evolution of a Pakistani Militant Network
Bill Tatro Fire Foreign Workers; Hire Americans
Tony Marsh Obama Sends American Con Act to Congress
David Malpass Europe Tilting a Bit Positive
Jeff Carter Dems Aim to Tax Fund Business
Eric Singer Time for Republican Jujitsu on Social Security
Michael Vodicka Economy Down, Pawn Stocks Up - Investment Ideas
Sheraz Mian Inflation, Jobs & Manufacturing - Analyst Blog
Bill Wilton NetEase.Com - Aggressive Growth
Email Ransom thfinance@mail.com
Twitter http://twitter.com/#!/bamransom

Tony Marsh

Tony Marsh is President of Marsh Copsey + Associates, Inc., a strategic communications and political consulting firm based in Washington DC and is a consultant to www.debtwall.org.