Posts Tagged With: Obama administration

Inequality Is Replacing the American Dream…..


Inequality is replacing the American dream, because the U.S. economy — thanks to Washington’s mismanagement — is underperforming.

America still produces one-fifth of the world’s goods and services, but accounts for a much smaller share of global growth. Many U.S. products are no longer the best in class. Consequently, the economy can’t adequately employ many of its college graduates, and wages are stagnant or falling for ordinary folks.

America still has great strengths. High labor productivity, coupled with rising wages in Asia, make American workers a good value for global investors. Along with cheaper energy, thanks to the onshore oil boom, that should attract new factories, but the promised flood of new jobs has only been a trickle.

Simply put, the bureaucratic quagmire created by complex and ineffective business regulations makes it easier to produce in Asia than in America. The highest corporate tax rates among major industrialized countries make the cost of investing here too high.

It is increasingly difficult to refine and efficiently move oil to California and the Northeast — gasoline costs too much in Monterrey and heating oil costs too much in Massachusetts.

Whether businesses are taxed or directly pay for healthcare, higher costs than in Europe or Japan require radical reforms in delivery and pricing that Obamacare will not accomplish and Republicans refuse to discuss.

Germany punches above its weight. Whether in aerospace or web-based businesses, its companies compete effectively for customers in rapidly growing developing country markets by emphasizing proven technologies, execution and patience.

Cities from Bangkok to Lagos are too congested and cluttered with street vendors to support a middle-class drive to the mall retailing. German firms like Rocket Internet are recruiting suppliers and sending young women with tablets into marketplaces and workplaces to demonstrate their websites.

American companies eschew such boring approaches in search of big profits to pay for Uncle Sam’s terribly burdened regulations and taxes.

Apple will only sell the very best for the highest price, while Microsoft ties up PC customers with awkward software. Now, too few Americans can afford an iPhone and even fewer want a Windows smartphone. Korea’s Samsung offers state-of-the-art handheld devices and gives American companies fits.

In a globalized economy, America must play its strengths. It can’t continue to permit China and other Asian nations to rig their currencies, and otherwise lock out competitive U.S. exports with subsidies and protectionist regulations. In Asia, the Bush and Obama administrations have placed higher priority on other goals.

America shouldn’t import 6 million barrels a day of oil and pay the cost of policing the Persian Gulf, when opening up offshore drilling and smart conservation could eliminate foreign purchases.

Together, the trade deficit on otherwise competitive manufacturers and oil is costing Americans 5 million good-paying jobs — many that would go to struggling working-class families.

America’s best and brightest can earn big bucks by heading for Wall Street, Silicon Valley and industries that innovate and sell in global markets. Meanwhile, the army of more ordinary workers remains underemployed and underpaid.

A slow growing economy is the cause of increasing inequality, and the best way to reverse those is to clear a path for investment and entrepreneurs. The ticket is to streamline regulations, simplify and cut taxes, open up offshore energy production, radically reform healthcare and make exports and jobs America’s number one foreign policy priority.

With lower taxes how would Washington pay for entitlements and a big defense budget? Simply, an American economy growing at 5 percent and producing its own energy would need less of both and would generate a bounty of government resources for good purposes like the world has never seen.

Categories: Politics | Tags: , , , , , , , , , , | 1 Comment

CBS, ABC Presidents Have Siblings Working for Obama………


The presidents of ABC News and CBS News have siblings who work in the Obama administration and are involved with Benghazi.

Political consultant Richard Grenell told “Fox News Watch” that the ties raise concerns as to why the mainstream media has not more aggressively pursued the story.

“I think the media’s becoming the story, let’s face it,” Grenell said. “CBS News President David Rhodes and ABC News President Ben Sherwood, both of them have siblings that not only work at the White House, that not only work for President Obama, but they work at the (National Security Council) on foreign policy issues directly related to Benghazi. Let’s call a spade a spade.”
Rhodes’ brother, Ben, is President Barack Obama’s deputy national security adviser for strategic communication, and Sherwood’s sister, Dr. Elizabeth Sherwood-Randall, is Obama’s special assistant, Newsbusters reports.

Additionally, CNN deputy bureau chief Virginia Moseley is married to Hillary Clinton’s deputy, Tom Nides, Grenell noted. “It is time for the media to start asking questions why are they not covering this. It’s a family matter for some of them.”

Nides is deputy secretary of state for management and resources.

ABC reported Friday that Rhodes, brother of the CBS News president, was key to revising the talking points that were issued after the attack and are under scrutiny from a House subcommittee.

CBS News reporter Sharyl Attkisson has come under fire from her own employer for allegedly “wading dangerously close to advocacy on” Benghazi.”

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