economic recovery

No Winners, Only Losers in the Debt Ceiling Train Wreck

/ Jack Marshall / 14 Comments

I object to “a pox on all their houses” assessments on principle, because it encourages the lack of accountability. If everyone is at fault, nobody is at fault, or at least nobody will be willing to accept responsibility as long as he or she or they can point fingers at someone else. Reading all of the clichéd “Winners and Losers” columns in the media this morning as the debt ceiling crisis winds down, however, convinces me that there were no winners, only losers, in this sorry spectacle. In the latter group I include the writers of the “Winners and Losers” pieces, which are all just spin, obvious and biased attempts to extract a writer’s favorites from the train wreck using the rhetorical Jaws of Life.

They are all losers, all of them, together with the United States of America. The perfect storm of cowardly, irresponsible, reckless, stupid and arrogant leadership weakened the recovery, weakened the economy, weakened foreign faith in American investments, weakened American prestige, split the Republican Party, revealed the Democratic Party as hell-bent on chasing the European-style nanny state even as their model is crumbling abroad, exposed the Tea Party as a unmannerly mess of deluded doctrinaire ideologues with no grasp of political or economic realities, and most disastrously of all, showed the American President to be hopelessly, pathetically, frighteningly weak, devoid of leadership skills and leaderly instincts. Continue reading →

Extending Job Benefits: Irresponsible, Unfair and Unethical

/ Jack Marshall / 45 Comments

Last week, Republicans blocked yet another extension of unemployment benefits, and we can only hope they have the integrity and courage to do it again, in the face of predictable cries that they are cruel and heartless. The correct term is “fair and responsible.”

Well over a decade ago, President Clinton and a Republican Congress instituted welfare reform over similar accusations that it would spark tragedy and starvation. What it did was help end cycles of poverty and dependency. Hardly anyone except die-hard socialists argues that limiting welfare was a mistake today.

The serial extensions of unemployment benefits we have seen for two years, however, have become indistinguishable from welfare, and are now blatant political pandering to a large unemployed voter bloc in distress. The government is broke and in debt, and in no position to add an open-ended entitlement that pays Americans not to get jobs. Continue reading →

Obama’s Damaging Ethical Blind Spot

/ Jack Marshall / 11 Comments

For several years, I have been using a hypothetical in my business ethics courses involving the head of a non-profit who brings in a fundraising whiz to help the organization survive. While he is settling in and before he has had time to rescue the organization with his fundraising wizardry, she has asked the staff to accept a freeze on raises and hiring, and has cut other expenses, and even some staff. She asks the new fundraiser to live with his dilapidated office, though she had promised him a redecoration while recruiting him. But he objects: Continue reading →

Obama on Jobs: Spin, Deceit or Encouragement?

/ Jack Marshall / 2 Comments

What constitutes dishonesty in politics, in leadership, for a U.S. President?

The Labor Department reported today that the nation added 431,000 jobs in May. The good news: it was the fifth consecutive month of job growth. The bad: private employment, the best indicator of real economic recovery, climbed just 41,000. It had increased by 218,000 in April, and economists had predicted private employment, to rise by at least 190,000 in May. Thus the low number was a setback for the economy’s recovery.

Not to hear the President describe it, however. “What these numbers do mean though is that we’re moving in the right direction,” he said. “The economic policies that we’ve put in place are working.” Continue reading →