Las Vegas Sun

September 18, 2014

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Letter to the editor:

Uncertainty not pinned to Obama

It was interesting to read Kevin Alexander’s recent letter blaming President Barack Obama for the slow recovery. He says that businesses “are sitting on plenty of cash” because they are afraid to invest it pending the outcome of Obamacare and the election. Really? It’s the Republican-controlled House and the unprecedented rate of filibustering in the Senate that prevent adoption of many of the president’s policies.

How did these businesses get all this cash if the Obama administration’s policies have been so anti-business? Got a problem with your mortgage? Per Republican presidential candidate Mitt Romney, bankruptcy and the market bottoming out will solve this problem. Democrats want to improve the economy by increasing government spending with job programs that would enhance income for teachers, firefighters, police officers and more. More income increases tax revenues, stabilizes home ownership and encourages consumer purchasing.

Has anyone pressed our governor to put in place policies to help solve these issues? Is the only solution laying off more workers and complaining that the jobless rate is going up?

The letter writer asked, “How and when are we going to pay this back?” referring to the debt. The answer is not by putting back in control the party that started it in the first place, Republicans. You know, the same ones who shut the government down and cheered at the lowering of the U.S. credit rating.

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  1. Hopefully one day you people on the far right will understand it's the middle class that creates jobs. It's the purchasing power of the middle class that boosts the economy not the so-called "job creators" and their tax cuts. As long as working class people are in disparity our economy will only provide more wealth for the wealthiest and eventually the middle class will be no more.

  2. Letter writer's view of current events and the political facts and circumstances is as twisted as his thinking. When the Supremes strike down President Obama's Health Care law/individual mandate, the letter writer, Pelosi, Reid, and President Obama can blame Bush2 and Cheney, like they usually do. Think Americans are still buying that overused alibi?

    CarmineD

  3. The writer makes a good point. If the Obama Administration is supposedly anti-business, how come all these corporations are awash with cash? They aren't investing it because they're unsure about the financial health of their customers. Meanwhile, the stock market bottomed about six weeks after President Obama took office and most major averages have doubled since.

    I just love all the whining about uncertainty. There is always uncertainty and business executives get paid big bucks to deal with it. If everything in the world was certain, I could run a Fortune 500 company.

    It's never the uncertainties that trip you up in business, it's the certainties. Take, for example, the certainty that the value of housing would always increase because it always has. Oh wait! Betting on that as a sure thing is what got us in this mess in the first place.

  4. Who in their right mind would propose that the nation should proceed under the failed policies of the past three plus years under Obama. The left is stuck on concerns that the leadership will revert to the failed policies that existed under the Bush administration. The left is critical of using low taxes as a means of stimulating the economy. Lower taxes not only eases the burden on businesses but also leaves more in the coffers of consumers to spend on goods and services. Business is responding to current demand levels in a highly successful way. The problem is that demand levels are below the levels needed to sustain a recovery. One of the significant sources of demand is the perception by businesses that their investments will allow them to recover costs and earn a profit from which they will both survive and create a pool for more investment. This is a process the left does not grasp. The left is preoccupied with grabbing more wealth by taxation,increasing government's size and spending unbounded sums raised from private citizens. This is a policy walk that is destined to fail and the reason that Obama's policies are not working for America.

  5. Government can create jobs FDR make millions of them. It seems to me the only way for we poor. Tax cuts are job destroyers. The rich just give us economic collapse and war. Lets get wise to these low lifes !

  6. The left correctly observes that many existing businesses are flush in cash. The left then plunges to the mistaken notion that businesses should run out and invest this cash in creating new jobs. This not the theory of the firm iunder a free market brand of capitalism. A business plans its next move by assessing what the result will be on a marginal or incremental basis. He or she asks the simple question " what will I be able to receive from the next incremental investment that I make"?" it is at this point that the left becomes lost. The left would wish that a business person would say " I have money to spend,let's hire another person". This is not the way it works. This is the reason that the climate for business must be conducive to motivating a business to invest that incremental dollar in the economy. This rational thinking frequently escapes the left who adheres to the mantra " if it feels good,do it!"

  7. Grose claims part of the "problem" on "unprecedented filibustering of the Senate" by Republicrats. Where was he during W's term? Asleep? Did he not notice the wrench thrown into the machinery to stop just about every proposal, nomination and program that W offered? And the wrench was wielded by none other than Harry "the Red" Reid. The filibuster is nothing new and is regularly used by the "loyal" opposition as a weapon of last resort. As for Kelly's assertion that FDR "created jobs" that did any good: baloney! FDR's policies prolonged the Great Depression and it was WWII that eventually broke its back. BTW Kelly: your grammar is pretty bad; makes your comments nearly unintelligible.

  8. I have a question for President Obama and all those that support him. How much money do we need to borrow, print and spend, before it's enough?

    You cannot argue that if government borrowed, printed and spent alot more money raising the salaries and benefits of current government workers, hiring more, offering more tax dollars for infrastructure projects that the people benefitting from all this would spend more and help expand the economy.

    The problem is that the money needed is not available from current tax receipts, so it has to be printed and borrowed. We've already printed and borrowed 16 trillion dollars and the world looks at our financial situation with worry.

    I worry that if we follow the approach the President, Paul Krugman and others favor, by the time our economy improves, we will be so far in debt, it will be generations before we are able to pay it off.... and our economy will be stunted for a very long time.

    Michael

  9. Jim Weber,

    You and the letter writer don't have to wonder why successful companies are sitting on alot of cash. It's the economy. Our economy is slow, not dead. The wise stewarts of successful companies saw the slowdown, reduced their labor force, reduced spending, became more efficient and just kept on truckin. They put away more of their profit and are waiting for better days to expand and spend what they saved. It's economics 101 and there is nothing sinister there.

    We'd all be alot better off if more Americans understood basic economics. The fact that they don't allows them to be bamboozled by politicians.

    Michael

  10. Vernos,

    Without people being successful in business and making lots of money, there are no jobs for the middle class...except government jobs. We've spent over a trillion dollars trying to stimulate the economy, added 5 trillion to our debt, reduced spending little if any and we are still bumping along economically. We are 16 trillion dollars in debt. How much more do you suggest we print, borrow and spend?

    Michael

  11. Is the letter writer asking HIS taxes be increased to pay for the Government spending he wants that is supposed to stimulate or is he asking the Government to go after the cash the corporations have saved up to weather the economic turn-down?

  12. Michael,

    I don't think I suggested that there was anything sinister in corporations holding cash, only that they have regained a great deal of profitability during an allegedly hostile Obama Administration.

    I understand why they are not investing that cash. It's because there is still a lot of pain being felt on Main Street and unused capacity out there doesn't cry out for new investment.

    Jim

  13. Jim,

    Thanks for clarifying. You do seem to understand, but many do not. Anyone that advocates raising taxes on business, as Obama has is going to be viewed as hostle by the business community. Well run businesses are profitable because they cut back and got more efficient during the downturn. Obama had little to do with that, negatively or positively.

    Michael

  14. Wait a minute, corporations got bail out right before Bozo slinked off to texas.

  15. Medicare for all , Social security and Obama for ever !!!

  16. Mr. Weber:

    There are two certainties in life: Death and taxes. After them, everything else falls into 2 categories: Risks and uncertainties. Risks can be measured. Uncertainties can't. That's the reason they are called uncertainties. There are always risks. The higher the risk, the greater the rewards. But they are humanly measurable. Not so with uncertainties. Don't know. They are called "too risky." That's where we as a nation and a people are right now. In the "too risky" zone. What happens? People and businesses sit on the sidelines and wait and see.

    CarmineD

  17. Boiling Point: Democrats, Republicans, and the Decline of Middle-Class Prosperity by Kevin Phillips

    Age of Greed: The Triumph of Finance and the Decline of America, 1970 to the Present by Jeff Madrick

    "Falling From Grace: The Experience of Downward Mobility in the American Middle Class" (1989) Katherine S. Newman

    "Upward Dreams, Downward Mobility: The Economic Decline of the American Middle Class" (1993) Frederick R. Strobel

    "Silent Depression: The Fate of the American Dream" (1994) Wallace C. Peterson

    "The Fragile Middle Class: Americans in Debt" (2001) Teresa A. Sullivan

    "War on the Middle Class: How the Government, Big Business, and Special Interest Groups Are Waging War on the American Dream and How to Fight Back" (2006) Lou Dobbs

  18. RedRocky - "It is just that 'your guy' on the radical left has shown himself a complete failure, intentionally so."

    http://www.washingtonmonthly.com/magazin...

    rusty57 - "President Khardasian is presiding over the most anemic post-recession recovery since WW2"

    Still no original thoughts? Mimicking Fox is not the way to self educate.