In a period of seven short days the master magician Barack Obama has done it again. A major disappearing act, one of his best as commander-in-chief of the War on Prosperity, has netted a loss of 221,000 jobs.
Last Friday it was announced that the Keystone Pipeline project would be “delayed” until after the election with a corresponding loss of 20,000 jobs in the short-term. Translation: Politics trumps the economy. He needs the environmentalists for this election cycle and, if he happens to win, this project is dead and the pipeline will be rerouted to serve the Chinese.
Last Friday it was also announced that Stryker Industries was laying off 5% of its workforce (approximately 1000 people). Why, you might ask? Stryker’s press release said they “will cut 5% of its global workforce by the end of next year to reduce costs in the face of new fees on device makers required by the U.S. health care law.”
And today it was announced that the auction for mineral leases for the Wayne National Forest will also be “delayed.” Same translation as above. Several hundred immediate and an estimated 200,000 long-term jobs hang in the balance.
221,000 jobs. One week.
When we sum up this past week along with just one of the President’s other actions we come up with a shocking number. In July the House Committee on Oversight released a report stating that the unofficial closure of the Gulf of Mexico to drilling and exploration has resulted in the loss of 230,000 more jobs.
Total: 451,000 jobs lost.
As bad as this is, it does not even speak to the loss of $9 billion in capital investment (equipment). Do you think maybe our economy could benefit from someone spending $9 billion on equipment? Nor does it speak to the loss of $25 billion in royalty and tax revenues to the government. Isn’t there some kind of “supercommittee” in Washington searching high and low to find “revenues” to address the debt crisis?
These are actions of the President that he cannot say were “necessary because of the mess he inherited.” The closed for business sign hanging in the Gulf of Mexico belongs to him as does the albatross of Obamacare.