Entering 2013, businesses do not know what their tax rates will be. That’s a big chunk of any business’ planning. There are also plenty of questions still undetermined about the implementation of Obamacare and the many new taxes hidden within it and the new reporting and regulations coming down the pike with it.
Throw in the impact of going over the fiscal cliff with a national economy that is running only a notch above a recession already and it’s no wonder job growth is at a standstill in most of the country.
We are now in the most expansive big government movement in America’s history and it is crushing the private sector.
Consider the impact of the Dodd-Frank banking legislation allegedly drawn up in response to the financial crisis brought on by sub-prime mortgages. The law with more than 2,000 pages doesn’t even touch on sub-prime mortgages, but creates more than 70 new regulations and policies that banks are required to monitor and adhere to – regardless if they made a subprime mortgage loan or not.
Locally we are most fortunate to have real job and economic growth spurred by the Eagle Ford Shale. Without it, we’d be stalled in the doldrums like the rest of America.
We can only hope 2013 turns out better than it looks going in, but until the federal government takes its foot off the neck of the economy, the likelihood of an economic rebound will remain a pipe dream.
All should buckle up for a bumpy ride.
– Jeff Latcham
The Dow closed Jan. 31 at 13,860.58, up 5.77% this month. The Standard & Poor's 500 Index closed at 1,498.11, up 5.04% so far this year.
That's good news for investors. The theory is that the stock market's performance in the first month of the year sets the direction for the following 11 months.
Oops, Jeff?
Although unemployment went from 7.8 percent to 7.9 percent, the Dept. of Labor revised the job growth estimates for November and December. With the inclusion of January data over 240,000 jobs were added in the latest report.
I guess that any Tom, Dick or Harry can claim to be an economist after they find the prize at the bottom of a box of Cracker Jacks?
Second, Jeff can hand the editorial to the employees at the publishing company when they are told that there will not be any pay raises during the year.
That's the way to kill two birds with one stone! How convenient.
The overall gloom and desperation of the editorial is tempered near the end with the local energy boom and the "We can only hope" statements, but concludes with a pessimistic note intended to spread fear which in turn hurts the economic recovery.
As for the Eagle Ford stuff, it's getting pretty desperate when one hinges their hope on a "boom" that pollutes our environment and contributes to traffic accidents due to recklessness. Call me a true Liberal and I will acknowledge with a smile!
Now you asked for it. You are a true (insert multiple adjectives) LIBERAL! Duck and cover--LOL!
Prepare for snark and keep on smiling. It riles them to believe that you perceive the web they weave and keep on thinking free.
And of course, congratulations are to be offered since you were recently conferred admission to the house of LOLCats!
You know, the snark you mention is always there in our right-wing friends' comments, and having taken a lot of it in the past, one will find that giving it right back to them, supported by facts (not Faux News talking points), is pretty effective at shutting them up-temporarily.
And keep an eye on Texas--it is starting to turn blue..........