Obama-nomics and his layout for job recovery

[henryclay]

Some things speak for themselves. Here is one that doesn't just speak. It yells.

Obama-nomics is to make America less like Texas and more like California. Texas is a big state, its population of 24.7 million. 37% of all net new American jobs since the recovery began were created in Texas. California is a bigger state -36.9 million - and it has lost 11,400 jobs during the same period.

The Texas economy has grown on average by 3.3% a year over the last two decades, compared with 2.6% for the U.S. overall. Yet the core impulse of Obama-nomics is to make America less like Texas and more like California, with more government, more unions, more central planning, and higher taxes. That Texas has rejected that model and added 37% of all net new U.S. jobs suggests what an historic mistake Obama-nomics has become.

So sayeth that paragon of social governance, NOT! , , the Wall Street Journal
.
online.wsj.com/article/SB10001424052702304259304576375480710070472.html

[NoMoreLunacy]

Yeah, the boom in natural gas drilling has nothing to do with this. The WSJ can manipulate statistics like no one else.

[henryclay]

the boom in natural gas drilling has nothing to do with this.

Those are your words, not those of the Wall Street Journal. And don't you agree it's really some stretch to say that 37 percent of the jobs America has created in the last two years are all working in the natural gas industry in Texas? I wonder how many jobs there has to be for Texas to get 37 percent of them.

But of course, the people who make their living figuring that out are dittoheads anyway, so you're probably ri - -_ght , , er, , ah , , correct. . . not right, , , just correct.

[AgeOfEnlightenmentSCP]

Even more instructive...

Using straight nonfarm payroll employment, Texas accounts for 45% of net U.S. job creation. Modesty is not typically considered a Texas virtue, but the results speak for themselves.

That's nearly half of all the jobs added going to one state.

[Deleted]

Obama-nomics is to make America less like Texas and more like California.

I think that sentence SHOULD read "Obama-nomics is to make America less like Texas and more like Russia 25 years ago" but that's just my opinion.

[privateinvestor]

Obama-nomics and his layout for job recovery


This so called job recovery nonsense has been rejected by the Republicans for being another farce so deal with it. Obama has no recovery plan that will be accepted by congress..

[henryclay]

And it'd nice to see there's at least one state that doesn't pander to lawyers. I like the "tort reforms" part of their economic model.

And the housing bubble was taken more seriously several years ago, too. I see they have required 20% down for home purchases since back in the 90's. The folks in Texas did do more than just read the financial forecasts; Barney Frank and Chris Dodd were not there to keep them from doing the common sense and acting on what they saw.

[privateinvestor]

Joe Biden cannot get the Republicans nor the Democrats to agree on spending cuts or tax increases so how can his boss be able to have a job recovery plan?? Can our Liberal Political Experts explain that little issue?? Go for it..or deal with it

[billisonboard]

Jun 16, 2011 8:44:08 GMT -5 @privateinvestor said:

Joe Biden cannot get the Republicans nor the Democrats to agree on spending cuts or tax increases so how can his boss be able to have a job recovery plan?? Can our Liberal Political Experts explain that little issue?? Go for it..or deal with it

It is in the Republicans self interest to not have a job recovery take place prior to the next presidential election.

As far as the Democrats go, I defer to age old wisdom:

I don't belong to an organized political party;. I'm a Democrat. Will Rogers

[privateinvestor]

Jun 16, 2011 8:51:03 GMT -5 billisonboard said:

[quote author=privateinvestor
It is in the Republicans self interest to not have a job recovery take place prior to the next presidential election.

As far as the Democrats go, I defer to age old wisdom:

I don't belong to an organized political party;. I'm a Democrat. Will Rogers

Good Stuff you are getting better with age Bills

[Mkitty is pro kitty]

Obama-nomics is to make America less like Texas and more like California

"TX GOP Slashes Funding For Agency Battling Wildfires, While Also Blasting Obama For Not Spending More"
qwstnevrythg.com/2011/05/tx-gop-slashes-funding-for-agency-battling-wildfires-while-also-blasting-obama-for-not-spending-more/

Faced with drought and wildfires, Texas governor Rick Perry proclaims 'Pray for Rain' days

Read more at the Washington Examiner: washingtonexaminer.com/blogs/beltway-confidential/2011/04/faced-drought-and-wildfires-texas-governor-rick-perry-proclaims-p#ixzz1PRpLQpzR

So you want a bunch of people who slash taxes for their state and whine for the Federal Government to pick up the tab? Where's that self independence and personal responsibility?

37 percent of the jobs America has created in the last two years are all working in the natural gas industry in Texas?

So it's not about political ideology, but rather what natural resources they have. Oh, and where are all the "Wah! Obama doesn't allow drilling" complaints?

[privateinvestor]

So it's not about political ideology, but rather what natural resources they have. Oh, and where are all the "Wah! Obama doesn't allow drilling" complaints?

Wrong again Ma'am it is about jobs, jobs, jobs and not poltical ideology if you took the time to read the OP

[Mkitty is pro kitty]

Wrong again Ma'am it is about jobs, jobs, jobs and not poltical ideology if you took the time to read the OP

Jobs that all come from natural resources. You know, stuff that some areas have and others don't? No natural resources = no jobs. Try and keep up, or explain to us how you can have all those jobs, jobs, jobs without the the resources themselves.

not poltical ideology

I said that, did you read all of what I wrote?

[handyman2]

It has been evident for some time that the Obama administration has not a clue about how to create more jobs and neither does most others in DC.

[privateinvestor]

Jobs that all come from natural resources. You know, stuff that some areas have and others don't? No natural resources = no jobs. Try and keep up, or explain to us how you can have all those jobs, jobs, jobs without the the resources themselves.

not poltical ideology

I said that, did you read all of what I wrote?

[/quote]

Using Bureau of Labor Statistics (BLS) data, Dallas Fed economists looked at state-by-state employment changes since June 2009, when the recession ended. Texas added 265,300 net jobs, out of the 722,200 nationwide, and by far outpaced every other state. New York was second with 98,200, Pennsylvania added 93,000, and it falls off from there. Nine states created fewer than 10,000 jobs, while Maine, Hawaii, Delaware and Wyoming created fewer than 1,000. Eighteen states have lost jobs since the recovery began.

The data are even more notable because they're calculated on a "sum of states" basis, which the BLS does not use because they can have sampling errors. Using straight nonfarm payroll employment, Texas accounts for 45% of net U.S. job creation. Modesty is not typically considered a Texas virtue, but the results speak for themselves.

Texas is also among the few states that are home to more jobs than when the recession began in December 2007. The others are North Dakota, Alaska and the District of Columbia. If that last one sounds like an outlier at first, remember the government boom of the Obama era, which has helped loft D.C. payrolls 18,000 jobs above the pre-crisis status quo. Even so, Texas is up 30,800.

[Mkitty is pro kitty]

Using Bureau of Labor Statistics...

So what?

explain to us how you can have all those jobs, jobs, jobs without the the resources themselves.

No takers?

So you want a bunch of people who slash taxes for their state and whine for the Federal Government to pick up the tab? Where's that self independence and personal responsibility?

No takers?

Oh, and where are all the "Wah! Obama doesn't allow drilling" complaints?

No takers?

It has been evident for some time that the Obama administration has not a clue about how to create more jobs

Funny, I thought Texas was part of the United States. They didn't secede did they?

Oh, and how's this?

"President Obama calling for more oil drilling, including in Gulf of Mexico"
saintpetersblog.com/2011/05/president-obama-calling-for-more-oil-drilling-including-in-gulf-of-mexico/

"Obama seeks to promote more oil drilling in Alaska, offshore"
www.washingtonpost.com/business/economy/president-obama-seeks-to-appease-republicans-oil-industry/2011/05/13/AFipvK3G_story.html

Any takers?

[Driftr]

Jun 16, 2011 8:37:09 GMT -5 henryclay said:

And the housing bubble was taken more seriously several years ago, too. I see they have required 20% down for home purchases since back in the 90's. The folks in Texas did do more than just read the financial forecasts; Barney Frank and Chris Dodd were not there to keep them from doing the common sense and acting on what they saw.

I don't know if this supports or refutes the statement above, but when we bought our house 9 years ago (edit in Dallas) we bought it with 80/10/10. 80% 1st mortgage, 10% second, and 10% cash.

[handyman2]

MKITTY: For your own personal info you might want to check how and why those jobs were created in Texas. And then explain how the Obama administration are part of that.

[henryclay]

Drifter,
From what the article says, (and I hope), you got a steal. Apparently the sellers sold for a good bit less than what was your lender's appraised value. For actual details, who can say? But the quote from the article is:

a rule in place since 1998 in the backwash of the S&L debacle that limits mortgage borrowing to 80% of the appraised value of a home.

The downside would still be the way real estate prices were unrealistically escalating for several years. I hope that the value of your home has not fallen below the remaining balance on the debt still against it.

MKitty,
I really wonder if you should concern yourself too much with the rationale behind job creation. You seem to avidly relate job creation to the availability of natural resources. You even defend your position by restating it. Please then, relate for us what are the natural resources in the "other" states that have "net plus job creation histories". Here I will list those that the article names. Can you tell us, (me), what natural resource these states have that supports their growth in jobs created? There were surely additional states and these are just the ones with the most and the ones with the least numbers of added new jobs. New York (98,000 jobs added), Pennsylvania 93,000 jobs added), with Maine, Hawaii, Delaware and Wyoming adding less than 1,000 each. But they all added jobs while other states are still losing jobs. Texas just happened to add 37% of the total.

But please help us, (me), understand what are the natural resources behind job creation in these states?

As for their fiscal policy, taxes, and failing to fund social programs to the point of indebtedness to the state, can't you see any wisdom in it? Or can you please explain how to avoid the disaster looming for the entire country because of funding social programs with borrowed money that have no possibility of diminishing?

[henryclay]

what kinds of jobs did Texas create?

The article didn't say and I have no idea. I think the thrust of article was to point out that the tighter we have government controls, the less we have jobs.

I would tend to agree with that, and if only because of the way the article presents job creation. It compares the most populace state in the nation, (California), and the monkey's fist of government/business/taxes/regulation interactions with Texas and points out the differences. California has lost, and continues to loose jobs, while it's rival state goes the other way and leads the nation in job Creation.

But that's just my knee-jerk reaction.

[Driftr]

Jun 16, 2011 14:12:04 GMT -5 henryclay said:

Drifter,
From what the article says, (and I hope), you got a steal. Apparently the sellers sold for a good bit less than what was your lender's appraised value. For actual details, who can say? But the quote from the article is:

a rule in place since 1998 in the backwash of the S&L debacle that limits mortgage borrowing to 80% of the appraised value of a home.

The downside would still be the way real estate prices were unrealistically escalating for several years. I hope that the value of your home has not fallen below the remaining balance on the debt still against it.

That rule is probably only applicable to a 1st and is probably why we were able to take out the 2nd at signing and still only put 10% down. Our house is probably worth a little more than we paid for it today. I know zillow says its worth a lot more, but you can't trust zillow. There's not a lot of turnover in our neighborhood so I couldn't say for sure. Regardless, we've been paying the principal down a lot faster than we probably 'should' and should own it in a few more years. Kids'll be with us for at least another 14 years so no plans to move any time soon. Really don't care what the 'value' of the house does. It's a place to live for us way more than it's an investment.

[privateinvestor]

Jun 16, 2011 14:28:36 GMT -5 @patstab said:

I'm curious what kinds of jobs did Texas create?

Texas for the past 10+ years has been taking tech jobs away from California because of the lower businesses taxes in that state compared to California....Jerry Brown pledged to end that but so far just empty rhetoric from Mr Brown who cannot get a state budget passed yet...Austin Texas is thriving while out here in San Jose we are still seeing jobs disappear...Lockeed Martin announced yesterday they are laying off another 1500 employees in Sunnyvale CA..

Obama nomics and his layout for job recovery hasn't done much for those of us living and sweating it out in California...unemployment and higher taxes are a real concern for this state and don't see any end in sight despite Obama's campaign speeches lately so we just have to deal with it, I guess/

[Driftr]

I'm not sure which jobs we've taken from CA, but within the last few months or so there was a delegation here from CA looking into how we did it. I'll see if I can find the article. Heard it on NPR one day.

[privateinvestor]

Jun 16, 2011 15:24:01 GMT -5 Driftr said:

I'm not sure which jobs we've taken from CA, but within the last few months or so there was a delegation here from CA looking into how we did it. I'll see if I can find the article. Heard it on NPR one day.

Most were high tech jobs..And your Texas Governor likes to brag about it which has infuriated our Governor btw check it out..

Meg Whitman promised to bring those jobs back to CA which was just her playing to her conservative base I think??

While Texas gained over 800,000 new residents over a ten year period, 1.5 million more people left California than stayed. Among those who staying in California are illegal immigrants

Public employement has soared in in California, while at the same time, Texas’ middle-income private jobs grew by 16%, In fact, almost half of all the jobs recently created in the United States were in Texas.

High Tech Jobs

Since 2002 the comparison between the two states in high tech jobs is:
Texas 80,000
California 17,000

Evidence of the decline in California can be seen in the number of empty buildings and abandoned factories in Silicon Valley and the San Jose area.


Continue reading on Examiner.com Texas gains California looses jobs - National Watchdog Politics | Examiner.com www.examiner.com/watchdog-politics-in-national/texas-gains-california-looses-jobs#ixzz1PTOv2qTv

[bubblyandblue]

Taxes used to be assessed on things you wanted to prevent. I think we need to prevent monopoly, speculation and special laws that lead to privalage - what do I know, lets just tax labor and capital....anything that creates wealth in this nation and, stop taxing anything that emplyes no labor or capital to create wealth - like TBTF institutions that gamble in derivatives. -- sorry already done

[privateinvestor]

Jun 16, 2011 15:34:56 GMT -5 @bubblyandblue said:

Taxes used to be assessed on things you wanted to prevent. I think we need to prevent monopoly, speculation and special laws that lead to privalage - what do I know, lets just tax labor and capital....anything that creates wealth in this nation and, stop taxing anything that emplyes no labor or capital to create wealth - like TBTF institutions that gamble in derivatives. -- sorry already done

Texas gains California looses jobs

[wyouser]

Jun 16, 2011 15:24:01 GMT -5 Driftr said:

I'm not sure which jobs we've taken from CA, but within the last few months or so there was a delegation here from CA looking into how we did it. I'll see if I can find the article. Heard it on NPR one day.

There was a spot on Fox and Friends ,I believe about a week ago, talking about the california delegation (all members of the california state legislature as I recall) I think Gov Brown was encouraging this?? but dont quote me. At 4 AM before my quota of coffee I might not have that last part correct

[AgeOfEnlightenmentSCP]

Jun 16, 2011 8:27:32 GMT -5 @oldtex said:

Obama-nomics is to make America less like Texas and more like California.

I think that sentence SHOULD read "Obama-nomics is to make America less like Texas and more like Russia 25 years ago" but that's just my opinion.

Yeah! We have RULES for subject lines, dammit!

[AgeOfEnlightenmentSCP]

Jun 16, 2011 16:11:42 GMT -5 @patstab said:

I tried to post it but it didn't post right.

It said from 2001 to 2010 Texas created 550,000 jobs, 330,000 or so were minimum wage jobs, not sure what the rest were, better I'm guessing. But minimum wage?? That's nothing to brag about.

Yeah, and "We can't even create minimum wages jobs" isn't anything to brag about, either.

I hate when I feel like I have to state the obvious.

[reasonfreedom]

Jun 16, 2011 16:11:42 GMT -5 @patstab said:

I tried to post it but it didn't post right.

It said from 2001 to 2010 Texas created 550,000 jobs, 330,000 or so were minimum wage jobs, not sure what the rest were, better I'm guessing. But minimum wage?? That's nothing to brag about.

better than nothing. Beggars can't be choosers. Would you rather them all be unemployed?