Tag: United States dollar

Obama Admin comedy gold..

That comes from Obama’s Secretary of Agriculture Tom Vilsack when he equates food stamps with a stimulus:

Every dollar of SNAP benefits generates $1.84 in the economy in terms of economic activity. If people are able to buy a little more in the grocery store, someone has to stock it, package it, shelve it, process it, ship it. All of those are jobs. It’s the most direct stimulus you can get in the economy during these tough times

Someone should ask this moron how much every dollar government took away from people so it could then turn around and give probably less than 50 cents on the dollar – cost of government employees processing that money – in food stamps to people actually ended up costing us. I bet you that when all is said and done the number is big time negative. But why allow those facts to crowd/beclown the narrative?

I have to laugh, because otherwise the option is to cry at the stupidity of these people. Think anyone in the LSM will point out Vilsack is an economic illiterat douche? Not holding my breath.

UDPATE: In the comments below CM keeps pretending that since I only pointed out great economists had already disproved this broken window fallacy, that it was all nonsense, but didn’t actually write a dissertation about the proof myself, that there are no facts to substantiate my point that this is all bogus, so I figired I would show him some facts about how government job creating usually works out, and then do it while focusing on his enviro-fetish. Take a look at another great example of how well< a href="http://www.komonews.com/news/local/127844048.html" target="_new">government job creation works out in the real world:

Last year, Seattle Mayor Mike McGinn announced the city had won a coveted $20 million federal grant to invest in weatherization. The unglamorous work of insulating crawl spaces and attics had emerged as a silver bullet in a bleak economy – able to create jobs and shrink carbon footprint – and the announcement came with great fanfare. McGinn had joined Vice President Joe Biden in the White House to make it. It came on the eve of Earth Day. It had heady goals: creating 2,000 living-wage jobs in Seattle and retrofitting 2,000 homes in poorer neighborhoods.

But more than a year later, Seattle’s numbers are lackluster. As of last week, only three homes had been retrofitted and just 14 new jobs have emerged from the program. Many of the jobs are administrative, and not the entry-level pathways once dreamed of for low-income workers. Some people wonder if the original goals are now achievable. “The jobs haven’t surfaced yet,” said Michael Woo, director of Got Green, a Seattle community organizing group focused on the environment and social justice.

“It’s been a very slow and tedious process. It’s almost painful, the number of meetings people have gone to. Those are the people who got jobs. There’s been no real investment for the broader public.”

The only people surprised by this result are the big government believers in the whole “broken window economic model” which is at the center of Vilsack’s idiotic claim that food stamps programs create jobs. Any job government creates will cost too much, produce too little, if any, in value, and basically waste resources that would have better been utilized elsewhere. In fact, I would not be surprised that if studied a guy wasting $1 million dollars whoring, drinking, and drugging for a weekend will produce more real wealth and economic growth/stimulus than government getting its hands on that money and doing whatever with it.

BTW, this isn’t the only horror story about government money going to create green jobs going awry. There is that Solar energy company in MA that got a ton of stimulus money and which Obama talked so much about when selling this idiotic patronage bill that just recently went belly up. Of course, the political and academic class that believe in this green nonsense, blamed capitalism for yet another pie-in-the-sky wishful thinking dumb idea not working.

If you really want to see government at work, look at the USPS for your example.

The Dollar Dilemma

I’m not sure how you guys feel about dollar coins. I’ve spent many months in countries, particularly Australia, that have dollar coins. They are massively more convenient than bills, in my opinion. I really can’t understand why they haven’t caught on in this country. It seems mainly to be inertia. We don’t use dollar coins because … we don’t use dollar coins.

Well that … and strippers tend to get annoyed when you try to put coins in their g-strings.

I think the main problem is that we keep printing dollar bills, which only feeds the inertia. If the mint announced to the American people, “Hey, we’re no longer making dollar bills! Deal with it!” there would be a huge outcry followed, within a year, by everyone learning to live with it. The same thing goes for the tremendous amount of money we waste making useless pennies. If we abolished the penny, coin collectors would scream. Within a year, we’d be fine.

It’s not clear to me that switching to dollar coins would save any money in the long haul. Coins and bills are a means of exchanging goods, not goods themselves. But if we’re going to do it, let’s do it. Either switch to dollar coins completely or give up on it.

Still, it takes a Congress to look at this issue and … find the dumbest possible course of action when it comes to dollar coins:

Unused dollar coins have been quietly piling up in Federal Reserve vaults in breathtaking numbers, thanks to a government program that has required their production since 2007.

And even though the neglected mountain of money recently grew past the $1 billion mark, the U.S. Mint will keep making more and more of the coins under a congressional mandate.

The pile of idle coins, which so far cost $300 million to manufacture, could double by the time the program ends in 2016, the Federal Reserve told Congress last year.

A joint inquiry by NPR’s Planet Money and Investigations teams found that the coins are the wasteful byproducts of a third, failed congressional effort to get Americans to use one-dollar coins in everyday commerce.

Read the article and you’ll find some really hilarious quotes. The most recent idea was to put all of the Presidents on the coins on the idea that people would see them as “educational”. But people don’t use coins to educate, they use them to buy things. If I want my daughter to know who the 13th President was, I’ll show her wikipedia and keep my dollar for the strippers (or at my age, the vending machine).

When they revised the dollar coins, they insisted that, despite the Presidential heads educational initiative, at least 20% of the new coins had to be made with Sacagawea on them. Because we all remember the riots that rocked the country when, for a brief period, it looked the dollar coins we’re not using would not be embossed with the face of someone we never heard of.

I actually have several of the dollar coins on me and they are quite pretty. It would be great if I could use them in vending machines or on the Pennsylvania turnpike. But until Congress and the mint shit or get off the pot, that won’ happen. And those coins will continue to sit in a vault, draining money from the treasury.