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Jeffrey Immelt Calls For A Second Stimulus

From the opinion page of the Wall Street Journal:

Barack Obama speaks at the beginning of a meeting with the Jobs and Competitiveness Council. Monday, June 13, 2011, in Durham, N.C. Seated at the right is Jeff Immelt, Chair.

How We’re Meeting the Job Creation Challenge

The President’s Jobs and Competitiveness Council, comprised of 26 private-sector leaders, is developing ideas that will accelerate job growth and improve America’s competitiveness.

OPINION – JUNE 13, 2011

The U.S. economy is resilient, but the inescapable truth is that we have a persistent jobs challenge that demands an aggressive response. That’s why earlier this year President Obama asked 26 private-sector leaders to develop ideas that will accelerate job growth and improve America’s competitiveness.

The President’s Jobs and Competitiveness Council is made up of industry leaders, people running large and small companies, and people standing up for the rights of workers. We’ve been at work for the past 90 days to develop recommendations for a series of immediate, actionable steps to accelerate job creation. Today we are presenting an initial "progress report" to the president that includes a series of steps that can help spur hiring in the short term in areas like construction, manufacturing, health care and tourism.

By the way, notice that there is no mention of health care in any of his suggestions. He probably just included that phrase out of habit. And, to be fair, it is always a good idea to give a ‘shout out’ to the SEIU.

No single idea, however well-conceived, will solve our nation’s employment challenge.

Except maybe de-regulation, and across the board tax and spending cuts. That is, ideas that have always worked in the past.

So we’re taking a comprehensive approach with eight teams focused on specific areas such as skills and training, regulatory reform, and innovation. We analyzed which actions are critical to accelerating job growth in high-potential sectors, while also addressing areas of concentrated unemployment. We believe that the following "fast-action" steps can support the creation of more than one million jobs within these industries.

• Train workers for today’s open jobs. There are more than two million open jobs in the U.S., in part because employers can’t find workers with the advanced manufacturing skills they need. The private sector must quickly form partnerships with community colleges, vocational schools and others to match career training with real-world hiring needs.

Didn’t the first stimulus pour untold billions into the public sector teachers unions in the name of job training? And how well has that worked? How many people now have work because of being re-trained?

• Streamline permitting. Cut red tape so job-creating construction and infrastructure projects can move forward. The administration can take a few simple steps to streamline the process of obtaining permits, without undercutting the protections that our regulatory system provides.

In other words, just like with the first stimulus, Mr. Immelt wants to push union construction jobs, even though it is the union requirements that have often bogged them down in the first place. Oh, and by the way, to hell with the environment.

But once again we have to ask, is Mr. Immelt unaware that we already spent untold billions on supposedly ‘shovel ready’ infrastructure jobs? What ever happened to those? In fact, we now know they never existed. And they never were intended to exist. Anymore than these are.

Boost jobs in travel and tourism. This industry is one of America’s largest employers, but the U.S. has lost significant market share. By making it easier to visit the U.S. through improved visa processes, we can win back market share in travel and tourism and create hundreds of thousands of jobs.

This is a particularly bizarre and truly laughable suggestion. Are we really supposed to believe that making it easier for foreigners to get visas will boost the US economy? Is that what has keeping unemployment so high? Not enough tourists? Not enough foreign workers?

Facilitate small-business loans. Help small-business owners obtain the information and support they need to access Small Business Administration funding.

We thought Mr. Obama already did this. But in any case, it is moot. What small business is going to want a loan when they could be facing tremendous tax hikes from the Obama administration at any minute?

Small businesses are those evil rich people who make over $200,000 a year. They are the very people Mr. Obama has sworn he will never give up trying to tax even further.

• Put construction workers back to work. More than two million construction workers don’t have work. Every city in America has commercial buildings that can be made more energy efficient. Both the private and public sectors can step up to create good jobs and save energy.

1) Much of whatever construction work we still have is being done by illegal aliens. 2) Making buildings more energy efficient was supposed to be done with the first trillion spent in the name of jobs stimulus. But nothing ever came of it, mostly because of the requirements that all the work be done by unions.

Our objective for this first set of recommendations was to identify areas where the private sector and the administration could accelerate job creation immediately without the need for major legislation from Congress or actions that would have a long runway.

Who is going to pay for all of this, Mr. Immelt? General Electric? Congress still controls the purse strings, you know.

But it’s not enough.

To truly bend the curve over the longer term, we need a more strategic view. Over the next 90 days, we will turn to addressing the actions needed to make a more significant, longer-term impact. This strategic approach will emphasize a number of areas for job growth. First, we need to focus on fast-growth companies and small business. Second, we need to make America the most attractive place on Earth for high-tech services and manufacturing jobs and to accelerate foreign direct investment in the U.S. Finally, we need to address the competitiveness of America’s infrastructure. The Jobs Council will deliver recommendations on these more strategic questions in September.

We can’t wait.

By year-end we also will have looked at and made recommendations on building and improving systems for national competitiveness, including R&D investment, tax policy, visa reform and high-skilled immigration, as well as applying business concepts (like the Lean Six Sigma approach) to regulatory processes. Some of these ideas, by their nature, require bipartisan legislation and therefore may take longer to move forward, but they are all critical.

America needs more growth. The United States needs to reverse trends that developed over a long period of time, and the solutions aren’t easy politically, socially or economically. The economic decisions we make now will determine American job creation and competitiveness in the years to come. Government, business and labor need to work together to get this done.

Clearly the only way to get unemployment down in this country is to have more government spending, paid the union payrolls, and to allow in more foreign workers. What could be more obvious?

Mr. Immelt is the chairman and CEO of GE and chairman of the President’s Jobs and Competitiveness Council. Mr. Chenault is the chairman and CEO of American Express Co.

And the country’s foremost beneficiary of Mr. Obama’s crony capitalism. Still, it’s no wonder that GE needs so much government support, with a man like Immelt at its helm.

This article was posted by Steve on Monday, June 13th, 2011. Comments are currently closed.

11 Responses to “Jeffrey Immelt Calls For A Second Stimulus”

  1. Rusty Shackleford says:

    “There are more than two million open jobs in the U.S., in part because employers can’t find workers with the advanced manufacturing skills they need.

    OK, first, two million out of how many who are unemployed?

    Second that statement is very misleading and doesn’t say it the way it should. What they failed to mention is that they can’t find minorities with the skills they need to stick in those jobs and that’s a two-edged sword because minorities have continuously scored into the “unmeasurable” on aptitude tests and therefore do not qualify for government spending on their training, or, if they do, they drop out soon after finding out that it actually is challenging and they don’t want to do the work, but usually blaming “racism” for their own failure.

    And all this, of course, at the expense of Caucasians who tested much higher but were ignored in favor of a quota or some other ridiculous “system”.

    In a way, I’m glad that socialists have hitched their wagon to the racism star because it’s now entering the earth’s atmosphere and is quickly burning to a cinder.

  2. Liberals Demise says:

    Just how many jobs did this hunk of wasted manhood ship overseas during his
    tenure at GE? The first Bamboozle of a Stimulus did what? N O T H I N G!!!
    Uh, where does the money come from, hmmmmm? We are broke and going down fast!! What a joke Obamao plays us for……..I ain’t laughing!

  3. Petronius says:

    Report of the Petronius Council on Jobs and Competitiveness.

    Elect me President and I will fix the economy within my first two days in office :

    Monday — Jobs : Appoint Arizona Gov. Jan Brewer Secretary of DHS and Sheriff Joe Arpaio chief of ICE. Put some real teeth in immigration enforcement: secure the border with Mexico; declare a 25-year moratorium on immigration; begin fast-track deportations of illegal aliens and criminal LPRs; abolish the anchor baby rule and replace it with the rule of jus sanguinis; cut off all Federal money to sanctuary cities; repeal all welfare for immigrants and refugees; tighten down the visa racket and deport the millions of overstays. Sharply limit the number of refugees to a few individuals (not groups) and declare that the Federal government shall have no authority to settle colonies of refugees within the United States. Abolish affirmative action, racial quotas, set-asides, and sub-prime mortgages. Lunch. Repeal Obamacare in toto. Abolish the EPA, and repeal its regulations and organic statutes. Appoint Sarah Palin Secretary of Energy and open up America to oil and gas exploration. Abolish the union shop, Labor Department, and the NLRB. Abolish all Federal government unions and open up government contracts to competition from nonunion firms. Whew! Monday was a busy day.

    Tuesday — The Economy and Public Debt : Appoint Bill Gross Chairman of the Fed; appoint Steve Forbes Secretary of Treasury. Slash the corporate tax rate to zero. Allow tax-free repatriation of corporate profits from overseas operations. Abolish the capital gains tax. Abolish FICA payroll tax, which falls only on American employers and employees, and substitute a national sales tax that will hit Chinese and other imported goods. Reform/privatize Social Security and Medicare to place them on a sound basis. Turn Medicaid over to the States to do with as they please. Abolish the progressive income tax, death tax, and exit tax; substitute the flat tax. Remove taxes on American farmers and agricultural products. Abolish all restrictions on ownership of foreign bank accounts, and restrictions against taking private property abroad or owning property abroad. Lunch. Repeal Dodd-Frank. Abolish Fannie Mae and Freddie Mac. Restore a sound currency. Reexamine trade relations with China and other countries that don’t play fair (free trade does not mean unfair trade). Begin a program to protect American intellectual property, trade secrets, patents, copyrights, trademarks, and brands. To encourage medical research, patents for pharmaceuticals and medical devices shall be for 40 years. Sell the UN building and apply the proceeds to reduce the national debt. Consider putting New England up for bids.

    There. That should about do it.

    • Liberals Demise says:

      Great piece here, Petronius!!

    • tranquil.night says:

      Well thought as usual Petronius. Imagine the growth this country would be seeing were we but to even begin to tap into the all of the repressed human potential out there.

      On Wednesday I’d reorganize NASA and propose that half of their budget go to private subsidies for the first company who can develop a cheap starship on which we can start giving Liberals what they really want and sending them to Mars.

    • BigOil says:

      …and on Wednesday, there was freedom.

  4. GetBackJack says:

    This is actually a heads up that Wall Street and our biggest corporations are cawing for another global war, bigger than WWII.

    That’s what saved the FDR’s similar attempts. Which is Canon to the Dems.

    • tranquil.night says:

      About time to save the planet by thinning out the numbers of the demons plaguing it, eh? That’s why any thinking person has to laugh at the so-called ‘peace loving’ Earth children. Who else kills more indiscriminantly? War is the order of Nature after all.. and after destruction comes regeneration?

      These world elites are sick on a level I can’t describe in words anymore. It’s reminiscence of how the Ancient Pantheon would apathetically toil in the affairs of mortals, cursing them, pitting them against one another – if only out of boredom and in need of amusement.

  5. BigOil says:

    Immelt is turning out to be a strong presence in the Politburo. This 5-year plan may put him at the head of the line for Premiere.

  6. GetBackJack says:

    I say we here assembled should be given the opportunity to “stimulate” Immelt.

    Petronius – superb, mi amigo grande.

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