Pro-growth Or No-growth

Guy Benson posted an article at Townhall today about the impact of the Trump Tax Cuts on the American economy. As has been pointed out by anyone with a brain, any deficits in Washington are caused by a spending problem–not by a lack of tax revenue.

The article includes a chart showing revised economic growth estimates based on the growth that has already occurred because of the tax cuts:

The Congressional Budget Office (CBO) now projects 156.8 million jobs in America by year-end 2027—2.6 million more jobs than in its June 2017 Budget and Economic Outlook. CBO attributes an average of 1.1 million additional jobs over the next 10 years to the recently enacted Tax Cuts and Jobs Act.

On April 10, I posted an article detailing the Democrats plan to roll back the tax cuts and increase both personal and corporate taxes. That will bring us back to the slow economic growth we experienced under President Obama. The Republicans need to make sure that the American voters understand that–a vote for a Democratic Congressman is a vote for economic slowdown.

Economic policies do have consequences. That has become very obvious in the past year or so.

Lost In The Partisan Hype

Guy Benson posted an article today at Townhall about the American economy under President Trump.

The article quotes a Wall Street Journal article listing economic milestones:

The number of Americans claiming new unemployment benefits has never been so low for so long.  Initial jobless claims, a proxy for layoffs across the U.S., decreased by 9,000 to a seasonally adjusted 233,000 in the week ended April 7, the Labor Department said Thursday. This means claims have now held below 300,000 for 162 consecutive weeks, cementing the longest streak for weekly records dating back to 1967...The current streak eclipsed the previous longest stretch that ended in April 1970. Taking into account the size of the labor force, claims today compared to the late 1960s and early 1970s are much lower…The consistently low claims levels point to labor market health because they mean relatively few Americans are losing their jobs and applying for benefits to tide them over until they can find new employment. After several years of consistent job growth, firms are reluctant to let employees go in a tightening labor market in which many available workers are quickly snapped up.

Wow.

Further good news:

Trump’s speech came amid surging optimism among American manufacturers thanks to the after-effects of the GOP’s recently-implemented tax reform law. More than 93% of manufacturers have a positive outlook on their company’s prospects in the U.S. economy – the second-highest level ever recorded by the National Association of Manufacturers –  its most recent quarterly survey revealed. Meanwhile, optimism among small manufacturers was at its highest level ever recorded throughout the survey’s 20 year history; 94.5% of companies reported that they were positive about their future. Wage growth among those manufacturers surveyed also rose at the fastest pace in 17 years…The survey showed that manufacturers expected full-time employment to increase by 2.9% on average over the next year, an all-time high by the survey’s standards. Companies also said capital investments are likely to rise by 3.9% over the next 12 months, while inventories are expected to rise by 1.7%.

The two main causes for the economic boom are cutting the regulations that make it difficult for businesses to grow and changing the tax codes so that Americans get to keep more of what they earn. Small business is one of the main engines of job growth in America, and changing the way small businesses pay taxes has a very positive impact on job growth. One other factor in the economic boom is the move toward American energy independence. Low energy costs and low taxes are two things that attract foreign businesses. Because America now has both of these assets, we are more attractive as a place for foreign business to relocate. We are more competitive in the global marketplace because of the policies of President Trump. That is a really good thing.

It’s Generally Inconvenient When The Chickens Come Home To Roost

Guy Benson posted an article at Townhall.com today about what is happening to health insurance premiums in Florida due to ObamaCare.

The article reminds us of some of the promises made when ObamaCare was passed:

“We will lower your premiums by $2,500 per family, per year.”

“…save a typical family an average of $2,500 on their healthcare costs…”

“Everybody will have lower rates.”

Well, it just hasn’t worked out that way. There will be an average health insurance rate increase of 13.2 percent for Floridians who buy healthcare insurance on the individual market next year.

Those who supported ObamaCare also told us that ObamaCare would bend the ‘cost curve’ of overall health spending downward. That hasn’t happened either. The projected ten-year cost of ObamaCare has nearly doubled from its original estimated cost. It has followed the path of other government programs over the years–cost more, solve fewer problems.

To add to the mess, the Washington Examiner posted a story yesterday about a government healthcare program started in California as part of the economic stimulus package.

The Washington Examiner reported:

“We need to bundle payments so you aren’t paid for every single treatment you offer a patient with a chronic condition like diabetes, but instead paid well for how you treat the overall disease,” Obama told the crowd of physicians.

Obama was articulating what would become one of the key payment reforms in his health care law — a proposal aimed at giving incentives to providers to control costs by rewarding them for providing less expensive care.

But a study published in the journal Health Affairs looked at an ambitious three-year pilot program of bundled payments in California that was funded by a $2.9 million grant from Obama’s 2009 economic stimulus package — and found that the program was such a massive failure, it could hardly get off the ground.

“In spite of a high level of enthusiasm and effort, the pilot did not succeed in its goal to implement bundled payment for orthopedic procedures across multiple payers and hospital-physician partners,” the study reads. “An evaluation of the pilot documented a number of barriers, such as administrative burden, state regulatory uncertainty, and disagreements about bundle definition and assumption of risk. Ultimately, few contracts were signed, which resulted in insufficient volume to test hypotheses about the impact of bundled payment on quality and costs.”

Can we please get the government out of our healthcare and let the people who actually know something about it run it?

 

A Surprise Victory For Republicans

Guy Benson at Hot Air posted an article today on the special election held in Arkansas on Tuesday. The election took place in Craighead County, which has not been represented by a Republican in the state senate since reconstruction. John Cooper, the Republican candidate, won the election with 57.21 percent of the vote.

On Sunday, the Daily Kos reported:

The Democratic nominee is Steve Rockwell, a businessman and political science professor at Arkansas State University. The Republican nominee is John Cooper, a retired businessman and former candidate for the State House of Representatives.

…On the politics side of things, this election is huge. Craighead County is a key area of the state for both Mark Pryor and Mike Ross to win (they need to get at minimum 49% of the vote in this county to win the state) If Rockwell can’t put up a decent showing, Democrats are going to have some serious issues going into 2014.

The article at Hot Air concludes:

So here we had a contested race in a traditionally Democratic area, the outcome of which held significant implications for Mark Pryor’s re-election bid.  An Obamacare-related controversy drove the campaign. Oh, and according to an email blast from the NRSC, the Republican candidate was outgunned on the spending front by a three-to-one margin.

There is hope.

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Quote Of The Week

This quote is from an article posted at Townhall.com today by Guy Benson. The article deals with the lies currently being told by Debbie Wasserman Shultz (DWS) about Paul Ryan‘s plan to save Medicare.

This is the quote:

Just a reminder: I do not pick on DWS because she’s an easy target.  I hold her to account because she is Barack Obama’s hand-picked leader of his party.  She’s not a fringe player.  She’s the DNC Chairwoman, installed at the request of the president of the United States.  This seems like a good commercial for Mitt Romney: “I picked Paul Ryan.  He picked Debbie and Joe.  I’m Mitt Romney and I approve this message.”

That works for me.

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