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A Not-So Stimulating Encore

A PREVIEW OF WHAT BARACK OBAMA’S SECOND TERM HOLDS FOR THE U.S. ECONOMY By Howard Rich || In Barack Obama’s first term the U.S. labor force shrank to a 30-year low.  Job growth lagged behind population growth as millions gave up their search for gainful employment.  Income levels receded, productivity…

A PREVIEW OF WHAT BARACK OBAMA’S SECOND TERM HOLDS FOR THE U.S. ECONOMY

Howard Rich

By Howard Rich || In Barack Obama’s first term the U.S. labor force shrank to a 30-year low.  Job growth lagged behind population growth as millions gave up their search for gainful employment.  Income levels receded, productivity sputtered and deficits soared — all in the name of “recovery.”

So what does Obama have planned for an encore?  How does he intend to further “stimulate” the economy during his second term?

In his victory speech, Obama pledged he would continue pursuing “the kind of bold, persistent experimentation that Franklin Roosevelt pursued during the only crisis worse than this one.”

That’s a truly frightening thought.  In fact if left unchecked, Obama’s “bold, persistent experimentation” could very well wind up making this crisis every bit as bad as that one.

For example, atop Obama’s second term “to do” list is the full implementation of his signature first term accomplishment: ObamaCare.

Having secured another four years in the White House, Obama can now block any effort to overturn his socialized medicine law — although states can (thankfully) still stop much of its new spending if they reject ObamaCare’s “exchanges” and refuse its Medicaid enrollment expansions.  For the sake of our future deficits, let’s hope they do so en masse.

One provision of ObamaCare that can no longer be stopped, however, is its “employer mandate.”  While nowhere near as infamous as the “individual mandate” compelling citizen participation in the health insurance market, ObamaCare’s requirement that companies provide coverage to all employees working more than 30 hours a week will be a job killer nonetheless.

Not only will this mandate prevent job growth among small businesses, it will also result in fewer hours and less income for workers at larger companies.  These are people struggling to make ends meet on limited income — people who cannot afford to lose these hours.

Last month Darden Restaurants — which employs 185,000 people at nearly 2,000 Olive Garden, Longhorn Steakhouse and Red Lobster restaurants — revealed that it was scaling back many of its employees’ workweeks to 28 hours.  Ordinarily such a move would result in high turnover and an influx of less-competent employees — but not in Obama’s economy.

This month Kroger — the grocer that employs 350,000 people — announced that existing part-time workers and new hires would be limited to working 28 hours per week.

“Kroger is doing this to avoid paying for full-time health care for employees who currently only receive part-time benefits,” one employee explains. “And (so) they will not get hit with the $3,000 penalty.”

Darden and Kroger won’t be the only employers limiting hours in anticipation of ObamaCare’s crippling new levies. Millions across the country are likely to be affected by the mandate — and the vast majority of these will be lower middle class people who desperately need that extra income to make ends meet.

In other words ObamaCare’s “employer mandate” will wind up hurting the very people Obama claims to be fighting for — reducing their take-home pay at a time when loose monetary policy is already whittling away at the value of every dollar they earn.

The impact of all this lost income on our consumer economy — and on our soaring taxpayer tab — isn’t hard to predict. When people make less money, they spend less money — slowing economic activity.  They also become more dependent on government handouts — further inflating a welfare tab that exceeded $1 trillion during the last fiscal year.

What can be done to stop these terrible outcomes?  That’s what’s so depressing: Absolutely nothing — at least not over the course of the next four years. In fact, this is just the beginning of the “bold, persistent experimentation” that Americans are going to see from Obama during his second term.

Just ask him.

Howard Rich is chairman of Americans for Limited Government. He is also a syndicated columnist for Liberty Features. This piece – reprinted with permission – was originally published in Investor’s Business Daily.

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32 comments

SCBlues November 19, 2012 at 4:02 pm

And speaking of Thanksgiving and TURKEYS, along comes good old Howard Rich . . .

And Thank the Good Lord that the American people had sense enough to re-elect President Obama!!

Reply
Guero November 24, 2012 at 7:47 pm

Hear, hear. Howie told us McCain was going to win and told us Sarah Palin needed to be listened to. Howie told us President Obama couldn’t bring us back from BushNomics. Howie is never right, thankfully….

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Nölff November 19, 2012 at 4:17 pm

I’d like to see Howard Rich and Paul Krugman fight it out in the thunderdome.

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? November 19, 2012 at 4:55 pm

A Bob Murphy/Krugman fight would be more interesting, with Bill Anderson refereing.

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Thank God for Scotch November 19, 2012 at 4:18 pm

You can thank Obama for the death tax. If you can manage to scrape together and bank a million to leave behind for your kids, the gubment’s gonna take 55% of it. If you leave that in land then the heirs will most likely be forced to sell it off.

What assholes like Obama fail to explain to their supporters (the takers) is that what actually happens is the gubment will take this newfound tax money and blow it while the extremely wealthy will step up at the liquidation of said property, purchase it at a bargain and continue to widen the gap between the rich and the poor.

The Dems and Pubs are playing by the same book – widen the gap and divide the spoils among the elite. Small farmers, i.e less than 1000 acre operations will continue to disappear.

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Millionaires Relief Society Member November 19, 2012 at 4:23 pm

“Scrape” together a million?

Yes yes

Pity the Millionaires!

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Jan November 19, 2012 at 4:42 pm

Actually if you are married its 2 million for a couple and the tax does not kick in until you are above that number. So no tax on the first two million you managed to scrap together.

We will see whether it actually goes back to that level from the current 10 million per couple exemption the Republicans complain is outrageous and must be repealed at all costs because it effects small businesses and small family farms.

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Jan November 19, 2012 at 4:48 pm

P.S. if you are really worried about it go ahead and give it to your kids before the end of the year. You can still give away 5 million to you kids without tax this year and if you are married, thats ten million.

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jeffy01 November 19, 2012 at 4:28 pm

….slurp slurp.

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Tricky Ricky November 19, 2012 at 4:31 pm

Capitalism in the 21st century: Pay the absolute lowest wage possible while providing the absolute least amounts of benefits in order to maximize profits. Employees are now considered expendable and easily replaceable.

Walmart has actually taught their employees how to apply for medicaid as their average wage/hours puts the majority of their employees below the poverty line.

Welcome to the third world.

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? November 19, 2012 at 4:57 pm

Healthy/viable markets make for a competitive situation for labor…

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The Ghost of Milton Friedman November 19, 2012 at 9:29 pm

You really believe that shit of mine eh?

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? November 19, 2012 at 4:58 pm

“This month Kroger — the grocer that employs 350,000 people — announced that existing part-time workers and new hires would be limited to working 28 hours per week.”

That’s what all (smart)business owners are doing…

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Ex Chamber of Commerce Member November 19, 2012 at 9:23 pm

Businessman=A crook that hasn’t been caught yet

Reply
? November 20, 2012 at 7:31 am

What’s amazing about your comment to me is how many people really feel that way.

It shows how inhospitable the U.S. has become to business.(mostly small)

Reply
Junga November 19, 2012 at 5:04 pm

Let the Olive Garden, The Red Lobster, and The Longhorn Steak House cut back on employees hours.
I don’t eat at any of those places anyway. But when their shitty food gets shitier and their shitty service gets shittier they will have no one else to blame but themselves when they drive their business in to the dirt. If they do not care to invest in quality employees why would anyone want to go there to eat? You get what you pay for…

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scmajor November 19, 2012 at 6:11 pm

When you think about it having those handling our food supply without healthcare is a recipe for disaster. Just a matter of time until one of the poors start an epidemic.

We need to get legislation so that food and healthcare workers are required to have health insurance provided by the company regardless of the number of hours worked.

If they decide to close up shop GOOD!! Better for us all in the long run.

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Frank Pytel November 20, 2012 at 12:23 pm

scmajor

Really?? REALLY?? Just exactly how does having health insurance impact the safety of the food supply.

My Lord, Please PLEASE PLEASE!! forgive my thoughts. I can’t help but think that nearly every post on this fracking forum is from a libtard scum sucking Obutthead loving Socialist Commie PINKO PIG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Have a Great Day!! There won’t be many left with Obonehead in charge.

Frank Pytel :)

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Smirks November 21, 2012 at 8:49 am

Really?? REALLY?? Just exactly how does having health insurance impact the safety of the food supply.

When you don’t have health insurance and make shit wages, you don’t tend to want to go to the doctor unless absolutely necessary. When you don’t have sick days, you don’t want to miss work unless absolutely necessary.

Sick person – sick days – health insurance = sick person + handling your food/product = sick people.

Of course, the owner of the business doesn’t want that kind of liability, say, for instance, some old guy catching the flu this way and dying. Nope. It would be much more hospitable to the owner if the employee just had cancer or some other disease that equates to you being fucking dead for not having insurance. Better to have to look for a new employee than to have to watch thousands go out the door via a lawsuit of some sort.

God bless America!

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Smirks November 21, 2012 at 8:52 am

Oh, and:

I can’t help but think that nearly every post on this fracking forum is from a libtard scum sucking Obutthead loving Socialist Commie PINKO PIG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Good job channeling Big(o)T on that one.

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Frank Pytel November 21, 2012 at 9:23 am

“Sick person – sick days – health insurance = sick person + handling your food/product = sick people.”

Stay home when your sick. Health insurance has nothing to do with food safety. Illness at the workplace, particularly when your in the food industry, is what causes transmission of disease and illness.

Oh, by the by (with my nose 10′ in the air), good job channeling Jan.

Anticipating some other moronic response, I didn’t tell you to take a job that doesn’t offer sick time. Get some skills and you might warrant it. But any monkey can wrap a piece of paper around a burger and drop it into a bag.

Don’t like monkeys, fine. Search automatic burger wrapping machiens. Cheap at $2000 to $5000 per. Then the food supply is safer and the food is cheaper (or doesn’t go up in price as much.)

http://www.alibaba.com/showroom/automatic-burger-machine.html

Have a Great Day!! There won’t be many left with Obonehead in charge.

Frank Pytel :)

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Robert November 19, 2012 at 5:19 pm

zzzzzzzzzzzzzzzzzzz

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Godslayer November 19, 2012 at 5:24 pm

Hey Howie! You and your money lost. Now get down on your knees and suck it.

Reply
scsince60 November 20, 2012 at 5:27 pm

Nice. At least I will never encounter you socially.

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scsince60 November 19, 2012 at 5:58 pm

That photo would be a lot more appropriate if it was of the Air Force One steward taking coffee on board for the pilots.

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Junga November 19, 2012 at 6:05 pm

So an employee works 40hrs a week for 50 weeks per year(let’s give them 2 weeks unpaid vacation) because I’m such a nice guy. That’s 40×50=2,000 hrs a year. The fine for not having health care is $2,000 per employee if you employ over 50 employees……one dollar a hour per employee. These people are going to cut their own throats over $1 a hour?

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God Bless Karl Rove! November 19, 2012 at 9:27 pm

They’re Republicans

This is about freedom

Did I say that right boys?

Reply
Strawman November 19, 2012 at 8:46 pm

FORWARD, comrades!

Reply
The Tax Man Cometh November 19, 2012 at 9:25 pm

A good audit of Howies tax returns

And he won’t have time to write this tripe!

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Jesse's Pontiac Ventura November 20, 2012 at 3:05 am

++++++++++++++++++
In other words ObamaCare’s “employer mandate” will wind up hurting the very people Obama claims to be fighting for — reducing their take-home pay at a time when loose monetary policy is already whittling away at the value of every dollar they earn.

The impact of all this lost income on our consumer economy — and on our soaring taxpayer tab — isn’t hard to predict. When people make less money, they spend less money — slowing economic activity. They also become more dependent on government handouts — further inflating a welfare tab that exceeded $1 trillion during the last fiscal year.
++++++++++++++++++

Unintended consequences, baby. They’ll bite you in the ass every time.

But were these consequences unintended? Only George Soros knows for sure.

Reply
junior justice November 20, 2012 at 7:03 am

You found it – you have found where that swamp gas stench is emanating from – you know the kind where you detect an odor for jus a split-second and then it is gone – but turn your head and you can smell it for a minute – but you really can’t tell exactly where it comes from or what it is –

— but you are smelling it now, so keep following the trail and keep us posted

Reply
junior justice November 20, 2012 at 7:06 am

PS: — it is all about control and putting people down and dependent upon “Sugar Daddy”.

Reply

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