What a boring news day - no fallen beauty queens, no republicans tap dancing in bathroom stalls. Even Britney Spears hasn't had a meltdown that we could all enjoy. No, it's the same old boring stuff on how millions are still jobless and despite a campaign promise to make jobs a priority
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In October 2008, the candidate Barack Obama delivered a major economic speech in Toledo, Ohio. In it he said: “Right now, we face an immediate economic emergency, and that requires urgent action. We can’t wait to help workers and families and communities who are struggling right now — who don’t know if their job or their retirement will be there tomorrow; who don’t know if next week’s paycheck will cover this month’s bills. ... We need to pass an economic rescue plan for the middle-class, and we need to do it not five years from now, not next year, we need to do it right now.
“So today I’m proposing a number of steps that we should take immediately to stabilize our financial system, provide relief to families and communities and help struggling homeowners. It’s a plan that begins with one word that’s on everybody’s mind, and it’s easy to spell: J-O-B-S.”
you hear nothing. Not even a whisper, even though polling shows that jobs are the number 1 issue on American minds today.
And the President? He's on Capitol Hill pushing for health care reform, a reform that does not happen NOW, but a few years down the road. Which is too bad because I think there will be more than a few liberals filing PTSD claims in the near future.
We can look on the bright side - it's only 2 months until American Idol returns.
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"A government big enough to give you everything you want is a government big enough to take from you everything you have."
Sit down shut up and have a cup of HOPE and some CHANGE. Your choice of bread didn't win this time around but you still get to take a bite of the shit sandwich. ENJOY!
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Never underestimate the predictability of stupidity.
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Working "hard," or the perception of working hard, doesn't really mean anything. Sweating, vomiting, and breathing hard could be a good workout or a tropical disease kicking in.-Dan John
I think that even in the medium term some sort of universal (near) health care is one of the most important things for low income folks, and for those who are unemployed. I hope the legislation will address the later problem with a solution that kicks in earlier.
Economists I read said a year ago that the stimulus package was too small by half. Of course even the Democrats who know that don't have the guts to push it through.
Anyone want to guess which socialist countries we're beating in unemployment? Too bad the regressives are screaming 'oh noes, its teh socializm!1!!1!'
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"The strongest steel goes through the hottest fires."-Anonymous
"When you begin to believe nothing is heavy, all weights become light." -Rossbow
"Just remember, somewhere there is a little Chinese girl warming up with your max."-Jim Convroy
"It's a round hole, dammit. Everyone fits."--Anonymous Mod at Strengthmill
Serious question: If employers don't have to worry about providing health care to their full-time employees, isn't it easier and cheaper for them to staff up?
Last week we saw that productivity has skyrocketed in the past year, which means that the employees who weren't laid off are doing the work of the people who were. I've been in that position a few times -- ad revenues dry up, and staffers are told to generate all the copy we used to assign to freelancers. It's a short-term strategy; people burn out if you make them work that hard for too long. But you can't beat it for enhancing the productivity of each person on your payroll.
I think it's accurate to say that employers need more employees but aren't hiring them. And I think it's accurate to say that one reason they don't hire them is because of the high cost of providing benefits to each employee they bring in.
Then there's the hidden cost of laying people off. No one wants to lose a job, but even if you know you're in the wrong position -- you've stagnated, or the company's focus has changed and you're no longer in synch with your employers, or your skill set is no longer as valuable as it used to be to this particular company -- one of the reasons you're reluctant to accept the inevitable is because you know how difficult it'll be to get health insurance for your family. That goes double if you or your wife or one of your children has a pre-existing condition. So you make it difficult for your employer to push you out the door, even though you both know it's better for your career in the long run to move on.
That's a long way of saying, why wouldn't health-insurance reform make it easier for employers to bring in new employees, and several years down the road make it easier to let them go, thus producing a more fluid job market?
Where have you seen that employers will no longer have to provide health care benefits to their workers? And why would it be cheaper? According to this health care cost for a family of 4 average $13,400 per year with employees paying 27% ($3,618). Let's say they pay someone $52,000 before taxes and benefits. If the company passes on all health care costs to the employee do you think that they'll be able to hire for $52K or will it be closer to the $65K they are paying now?
And what would be the reason a company would invest $65K in hiring someone? Have the productivity gains translated into increased output, more sales? Consumer spending is down, and isn't that what really drives the economy? If you note in this article talking about the productivity gains, health care cost doesn't get a mention. Additionally, companies can push their workers harder (freeze wages, less hours) and know that they will take it because they have a job. When unemployment is high they can get away with it. They know a worker will not say "fuck this" because the chance of them finding employment is low.
There has to be a business reason for making a hire (demand is higher than the goods you are able to produce) and that's just not happening right now. Health care costs are minimal part of the decision.
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"A government big enough to give you everything you want is a government big enough to take from you everything you have."
Have the productivity gains translated into increased output, more sales? Consumer spending is down, and isn't that what really drives the economy?
Its actually up this quarter (though I suspect its not from the general population buying more) as are net exports and government spending. Consumer spending is only part of what drives an economy, and its a short run aspect. We've tried to use it as a long run aspect when we should have been saving.
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There has to be a business reason for making a hire (demand is higher than the goods you are able to produce) and that's just not happening right now. Health care costs are minimal part of the decision.
Just because they are not mentioned doesnt mean they are not considered. A company will hire if the marginal productivity of the worker is greater than the marginal cost. No company shifts the entire burden of health care premiums onto their workers (in fact according to the EPI, employees pay about 22% of the health care premium). Companies also consider payroll taxes as part of the 'marginal cost' of a worker. Europe has decided to subsidize employment by reducing that tax rather than increase unemployment benefits.
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"The strongest steel goes through the hottest fires."-Anonymous
"When you begin to believe nothing is heavy, all weights become light." -Rossbow
"Just remember, somewhere there is a little Chinese girl warming up with your max."-Jim Convroy
"It's a round hole, dammit. Everyone fits."--Anonymous Mod at Strengthmill
Serious question: If employers don't have to worry about providing health care to their full-time employees, isn't it easier and cheaper for them to staff up?
...........
That's a long way of saying, why wouldn't health-insurance reform make it easier for employers to bring in new employees, and several years down the road make it easier to let them go, thus producing a more fluid job market?
There are about 8,000 people working in our portfolio companies. We are hiring to meet changes in demand. Health insurance is not a factor. Right now, we are more concerned about access to capital (the system is still more broken than bailed out) and tax uncertainty.
There is little health insurance reform in the bill. If that were the purpose, we could do something incrementally, in a lot fewer pages for a lot less money.
There are about 8,000 people working in our portfolio companies. We are hiring to meet changes in demand. Health insurance is not a factor. Right now, we are more concerned about access to capital (the system is still more broken than bailed out) and tax uncertainty.
There is little health insurance reform in the bill. If that were the purpose, we could do something incrementally, in a lot fewer pages for a lot less money.
Then it wouldn't be the American Way.
Is there any substantial legislation that isn't hundreds or thousands of pages, laden with pork? Rhetorical question, I know.... but really, unfortunately, probably not.
Crap
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