Learning The Economic Lessons Of History

Yesterday George Will posted an article at National Review Online about the sluggish economic recovery under President Obama. When Ronald Reagan took office in 1981, the unemployment rate was approximately 7.5%. By January 1, 1983, the unemployment rate had risen to 10.4%. By January 1, 1988, the unemployment rate was 5.70%. Presidential economic policies do impact the economy.

The article reminds us:

Ronald Reagan lightened the weight of government as measured by taxation and regulation. Obama has done the opposite. According to the annual “snapshot of the federal regulatory state” compiled by Clyde Wayne Crews Jr. of the Competitive Enterprise Institute, four of the five largest yearly totals of pages in the Federal Register — the record of regulations — have occurred during the Obama administration. The CEI’s delightfully cheeky “unconstitutionality index,” measuring Congress’s excessive delegation of its lawmaking policy, was 51 in 2013. This means Congress passed 72 laws but unelected bureaucrats issued 3,659 regulations.

One of the things that is slowing down the recovery in our consumer-drive economy is the amount of student loan debt. Student loan debt is currently the fastest growing debt–larger than credit-card or auto-loan debt. Another factor is the retirement of the baby boomers.

The article further reports:

In April, the number of persons under 25 in the workforce declined by 484,000. Unsurprisingly, almost one in three (31 percent) persons 18 to 34 are living with their parents, including 25 percent who have jobs.

These are not positive numbers.

The article concludes:

There is, however, something new under the sun. The Pew Research Center reports that Americans 25 to 32 — “Millennials” — constitute the first age cohort since World War II with higher unemployment or a greater portion living in poverty than their parents at this age. But today’s Millennials have the consolation of having the president they wanted.

At some point the Millennials may realize that elections have consequences and that they have voted themselves out of jobs.

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Mistreating Our Friends (Again)

Haaretz.com posted a story today about America’s denial of Visas to Israeli defense and intelligence officers.

The article quotes a government defense official:

“During the past year, everything has changed: I’ve heard many stories of defense establishment people who weren’t able to renew their visas, and it didn’t make sense to me until I tried to renew my own – and failed,” the official said, adding he would have to cancel a forthcoming trip to the States because of the visa issue.

Evidently the defense and intelligence officers are not the only Israelis having trouble entering the United States.

The article reports:

Late last month, Israeli media reported that the number of Israelis being denied tourist visas to the U.S. has risen significantly in recent years.

According to i24news, which cited State Department data, 9.7 percent of Israelis (12,000 people) who applied for tourist visas in 2013 were denied, up from 5.4 percent of requests that were rejected in 2012 and 2.5 percent that were refused in 2007.

A senior Israeli official surmised that the increase stems from reluctance in the U.S. to allow Israel entry into the Visa Waiver Program. That policy allows travelers from 37 countries to enter the U.S. for business or leisure as visitors for up to 90 days without a visa.

Meanwhile, as I reported on February 11 of this year (rightwinggranny.com):

The Obama administration has issued new exemptions to a law that bars certain asylum-seekers and refugees who provided “limited material support” to terrorists who are believed to pose no threat from the U.S.

The Department of Homeland Security and the State Department published the new exemptions Wednesday in the Federal Register to narrow a ban in the Immigration and Nationality Act excluding refugees and asylum seekers who had provided limited material support, no matter how minor, to terrorists.

So let me get this straight, we have decided to let people with ties to terrorism in and keep Israeli defense and military officials out. Are we confused as to who our friends are?

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