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Unbridled capitalsim would bring back a thriving work force

  • Published in Letters

To The Daily Sun,

The Obama administration claims that the economic recovery is moving along just fine after what, five summers of recovery. So then, how is it that these "paragons of paradoxity" are simultaneously screaming for extending unemployment benefits to lengths unheard of? Because liberal progressives are marvelous at obfuscation and double speak. However, at creating jobs they suck muddy canal water.

Ninty-two million Americans who could/should be part of the labor force are not, and that is an all time record. In December, half a million folks gave up looking for work. That explains why the unemployment rate went down to 6.7 percent. Some would say that because there are so few jobs, folks have reluctantly settled for the very generous safety net. Marc Theissen of the American Enterprise Institute notes that the worst aspect of the safety net is not that it is so generous, but rather that so many people need it.

The labor participation rate is the lowest it has been since 1978. Meanwhile, liberal progressives and President Obama in particular, all jut their jaws while frothing at the mouth as they continue their attack on the rich over the age old issue of income inequality. This administration and the Federal Reserve are the cause of the increase in income inequality. Financial guru Melissa Francis brings this confounding conundrum clearly into focus. The Dow went up 26 percent, which is the best jump in stocks in 18 years. Interest rates, through endless quantitative easing, have remained extremely low and so the rich have no other choice except to keep putting money in the stock market.

In 2013, the number of hours worked fell, part time work increased, the number of temporary workers also increased while wages remained stagnant. A new Rutgers University study found that 6 in 10 Americans think our economy has undergone a permanent change and this is the new normal. The negative psychological impact of President Obama's job-killing policies have been immense and devastating to the psyche of the working class.

According to Investors Business Daily, 58.6 percent is the current employment to population ratio. It was 61 percent when Obama took office. Sixty two percent was the past 30 year average. $1006 was the drop in median household income during the 2007 — 2009 recession. $2,535 has been the drop in median household income after the recession ended in June 2009, according to Sentier Research.

The economy is not creating enough jobs to keep up with population growth and nearly one million folks have at some point slipped below the poverty line during the five year Obama administration. The dramatic increase in welfare recipients and disability recipients along with people getting up to two years of unemployment insurance may make liberal progressives feel all tingly with goosebumps of compassion. But the government plantation is sucking the soul out of those who have become dependent on it. All the better to take care of you cackles our secular, progressive nanny state. Vote for me and I'll set you free. Bread and circuses all around sneers the Democratic advocates of dictatorial powers. Please, focus on the twerking of Miley Cyrus and the drag racing of Justin Bieber. Don't worry your pretty little heads about that alleged soft tyranny fever. Will President Obama really use that phone and pen unilaterally? No sir.

Opportunity to work is what gives people self worth and dignity. Giving them free government benefits for longer than that short duration of a helping hand up, saps them of their self respect and takes away their dignity. That kind of compassion brings some short term relief, but far too often, long term misery. 50 years ago, Lyndon Johnson's "war on poverty" began. $20 trillion dollars later, the war rages on while the number of people still living in poverty remains largely unchanged.

Followers of Milton Friedman and F.A. Hayek know that unbridled free market capitalism with minimal, trustworthy, objective government oversight would bring back the dynamism of American economic entrepreneurship and dignity for a thriving work force. What a pity that progressive liberals will never give up their socialist ideals in order to see the real truth. And the jury is still out as to whether enough conservatives will have the wherewithal to win the battle of wills for the soul of this Republic. Capitalism versus socialism, which would you rather have? Hint: capitalism offers equality of opportunity while socialism quixotically offers equality of outcome or more accurately, shared misery for all. Please check in with your friends in France who are just the latest to suffer from the slings and arrows of a perpetually failed paradigm.

Russ Wiles