Clear Examples of Obama Losing Jobs

September/14/2011 16:20PM
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Here we go. Bank of America will shed 30,000 jobs. Dodd/Frank bill at work, plus the court jester of the Senate, Dick Durbin who took away swipe fees from banks. This will cost Bank America $300 million in this quarter alone. It will save WalMart a few million. Did it save any jobs? Does it contribute to the Bank of America job problem. Of course it does. Add to that the cost to comply with Dodd/Frank, the cost to litigate all the mortgage lawsuits stemming from the purchase of Countrywide in 2008, the pending suits from Freddie and Fannie to escape their losses from insuring bad mortgages, and you begin to see the pattern. Meddling, middling and more meddling from Obama and his friends. Who is really benefiting from all this meddling? Certainly not the 30,000 employees about to be laid off. Nor the banks that hold their mortgages, the merchants that sell them goods, or the communities that will collect less of their taxes. Nice work boys.

Then we have the little ATT&T and T-Mobile proposed merger. The Justice Department has filed suit to stop the merger. Here we have our government looking after our best interests. Right? Wrong.

The parent company of T-Mobile is in Germany. They have announced that they don’t intend to invest in the US. ATT&T, on the other hand intended to spend billions to take advantage of T-Mobile’s spectrum. The limited radio frequencies that government has set aside for cell-phone use. So all of those jobs that would have been created by the AT&T investment won’t be created. And, T-Mobile will languish until the parent company can find a buyer. Or, until they shut it down.

But, not to fear. Your President will roll out a new stimulus bill that will create( or save) at least the number of jobs these decisions and those like them will lose. So, for only a half-trillion in new taxes we can break even between the jobs Obama is destroying and those he is creating with those tax dollars. Wait, he is spending all of that money in one year and taking in the taxes over 10 years. Those tax increases may result in less spending and may cause more job losses.

Then there’s Gibson Guitar. Twenty-six armed federal agents raided the business and shut it down. They were using wood imported from India. Another plant shut down, more workers on the unemployment line. Why, supposedly the wood imported was on some rain forest list of material not to be used in the US. Every other guitar maker in the US uses this same wood. One difference, the CEO of Gibson is a big supporter of the Republican Party. Is Obama and Holder running this country like Nazi Germany?

Never mind, everything that is happening is Bush’s fault or soon will be the fault of the Republicans in Washington, so don’t worry, reelect Obama in 2012. He knows how to get it done.

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