Publicado el 07-06-2012
The Economy Will be the Decisive Factor in November
All experts agree that the economy will be the most important issue that will decide the presidential election on November 6th.
This Friday, as it is done every month, the unemployment figures and the number of new jobs created for the month of June were made public. Unfortunately, there has been no improvement since May. National unemployment is still 8.1%, although in a few states that number is less and in others it is higher, and only 80,000 new jobs were created. But, upon checking unemployment figures for minorities the number is higher, sometimes reaching 10 or even 11%.
The entrepreneurial sector is uncertain about making new investments because of the doubts about the extent of Obamacare and other regulations. For example, beginning in 2014, any company that has fifty or more employees will have to offer health insurance or will have to pay a fine (or tax, depending on how your want o look at it) for each employee in its payroll. This requirement will increase expenses for the company although it is not yet known how much and it is possible that many companies opt to reduce their personnel or only employ part-timers who do not get benefits. This insecurity affects the nation’s economy.
At the end of a bus tour through two states, President Obama spoke on TV from Poland, Ohio, just before noon on Friday, July 6th. Logically, he spoke about the economy and why he ran in 2008 because, as he explained, he saw that for many Americans what is known as the “American dream” was becoming more elusive. Unfortunately, in the last three years under his administration, the situation has not improved, rather it is worse. Certainly, Obamacare has some good points that will help many, but it also has an extremely high cost for the next ten years that will increase the deficit. Republican candidate, Mitt Romney, also made some comments worthy of consideration on Friday when the unemployment figures were known.
What American voters have to be very clear about when they go to the polls in November is that we can not expect miracles, that the recovery will be slow and that they must carefully consider what each candidate promises. The basic thing in order to reduce the deficit and improve the economy is that the federal government cut unnecessary spending and that the private sector feels secure to invest its capital. Governments don’t create jobs; the private sector is the motor of the economy.