e-News July 9, 2010

The Week Just Past:
Billions in ‘Stimulus’ and Small Business Still ‘Sidelined’: Jobs, Jobs, Jobs

“The real life consequences of Speaker Nancy Pelosi and Senate Leader Harry Reid’s failure to enact an emergency funding bill before July 4th for our troops in Afghanistan and our well advertised withdrawal from Iraq came into clearer view this week. 

“The Department of Defense disclosed that our military may have to curtail training and base maintenance this month because Congress did not clear a ‘supplemental’ spending measure before leaving for its July Fourth recess. Defense Secretary Gates warned us in June that a failure to enact the supplemental’s war funds prior to Independence Day would force the Pentagon to shift money ‘beginning in July’ from regular ‘operations and maintenance’ accounts to units in Afghanistan, where the funds are needed to support a troop buildup.

“However, before adjourning on July 1, the House amended the Senate-passed ‘supplemental’ bill to add $21 BILLION IN NON-EMERGENCY, DOMESTIC SPENDING to the $58.8 billion in appropriations for war and Haiti disaster relief that the Senate approved back in May. The measure now goes back to the Senate, which does not reconvene until next week. And there is considerable Senate opposition to the non-war funding, and that chamber may not move quickly to consider the bill.

“President Obama stated back on June 23: ‘We need to remember what this is all about.  Our nation is at war.  We face a very tough fight in Afghanistan.  But Americans don’t flinch in the face of difficult truths or difficult tasks.  We persist and we persevere.  We will not tolerate a safe haven for terrorists who want to destroy Afghan security from within, and launch attacks against innocent men, women, and children in our country and around the world.’ 

“The President has it right. 

“It is the Leadership in Congress that apparently does not understand that we must remain committed to supporting our military, intelligence, and civilian personnel deployed in harm’s way by ensuring they have the proper resources to implement the combined military and civilian counter-insurgency strategy in Afghanistan.”

       Rodney Frelinghuysen

Recommended Reading:  As troops come home from Iraq and Afghanistan, some employers are becoming increasingly resistant to rehire service members who return from active duty as federal law requires.  Read “Returning troops face new fight for old jobs,” by Kathryn Watson of the Washington Times.

Billions in ‘Stimulus’ and Small Business Still ‘Sidelined’: Jobs, Jobs, Jobs

President Obama and the Congressional Majority plowed hundreds of billions of taxpayer dollars into a ‘stimulus’ program with promises it would create jobs ‘immediately’ and keep unemployment below eight percent. 

Nearly 18 months later, more than 3 million private sector jobs have been lost and unemployment is at 9.5 percent nationally and over 10 percent in New Jersey. 

Over the same period, more than 400,000 new GOVERNMENT jobs have been created. 

More government, fewer jobs:  this isn’t the picture of recovery, it’s just another Washington program that overspends and underdelivers. 

The impact of so-called ‘stimulus’ failures is felt in every promise broken, every job lost, every small business “sidelined,” and every new dollar of debt piled on our children. 

In the meantime, ‘mom-and-pop’ firms, usually the first to resume hiring, are stymied by slow demand, the real estate slump and uncertainty about the future.  Adding to the uncertainties for businesses of all sizes are the shaky global economy and the prospects of higher taxes to deal with the federal deficit and higher than anticipated costs to deal with healthcare and the recent government overhaul of financial regulations.

Read more in the Los Angeles Times, “Small business sidelined in slow recovery from recession.”

Recommended Reading III: Wall Street Journal’s Tuesday editorial on the potential effects of the Dodd-Frank financial regulatory ‘reform’: “A Trillion Unintended Consequences.”