August 24, 2011

More 'tohu wevohu' for the economy - and for Obama?

For you non-biblical scholars, the words in italics are Hebrew from Genesis 1, about how the Earth was "formless and void" before Yahweh intervened.

Well, an AP survey of economists, while not having a majority predicting an actual second recessionary dip, does predict ongoing tohu wevohu into next year. That said, recession odds have been upped to 26 percent.

Now, what does this mean for 2012 elections?

On the presidential side, as I've said before, it all depends on who wins the GOP nod. Obama likely loses to Romney or Huntsman. Unless the economy tanks, though, he beats any other current GOP candidate - if he runs his campaign right. (Besides the grudge match of Rick Perry, it would be fun to see, for history and laughs alike, Herman Cain against Obama.)

Now, there is the caveat of running his campaign right. A Perry should be absolute poison to independents. And, Obama did sandbag McCain on the TARP vote issue in 2008. (Among many sandbagging acts.)

Of course, I'll still be voting Green, so, other than the chess match, I'm more concerned about Obama's pending jobs program, as to what it does for the country.

What's needed?
1. Direct federal jobs creation, or payments to states for direct state job creation, for infrastructure repair.
2. Targeted tax credits for creation of full-time non-contract jobs.
3. A moratorium on free-trade agreements unless they're proven to boost jobs, i.e., kill the "backdoor to China" non-free trade deal with South Korea.
4. Money for long-term job-retraining and career-vocational programs outside traditional collegiate education.

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