This are the words from the Declaration of Independence that many people seem to think that the Pursuit of Happiness is a guarantee, one that is backed by our government if you believe the Liberal agenda. Yeah, those are probably fighting words for some Obama supporters, but let’s look at some opinions and facts starting with some personal experience.
I have worked for several different companies over the past 30 years, and they are rather large ones at that. FMC and ITW were two of them. I worked for divisions that were profitable, but didn’t meet the corporation’s goals for them. The companies either closed or sold the divisions.
There wasn’t any calls for government bailouts of the employees, nor the employees demanding compensation. No, most of us went about our business finding new jobs & careers. Some were old enough and had enough years with the companies to take early retirement.
Some of you know that I worked for Chrysler for a little over a decade, and took a buyout on the eve of Chrysler’s bankruptcy. While Chrysler seems to have recovered, it wasn’t without controversy, nor without government assistance. The working conditions in my former department have deteriorated according to conversations that I have had with friends still at Chrysler. Yes, it seems it was a good move, but I really have hated starting over. Thus, I’m still pursuing happiness.
In contrast, let’s take a look at my now deceased former father-in-law. At the age of 45, after spending 22 years at Anchor Glass, the plant closed. Rather than look for another job, he decided to sit back, take a reduced pension & Social Security, and do nothing. He became a bitter, sometimes cruel person with little to do for the next 20 years. Did he find happiness? No, he didn’t, not by a long shot.
Let’s be realistic – the Pursuit of Happiness is just that, pursuit – it doesn’t mean that we’re going to catch it. Some people will, but some won’t. There is not a guarantee of a happy ending, no matter what reassurances people (i.e., politicians) may make. This is why I am extremely suspicious of any promises the politician’s make for economic and society’s happiness.
Who out there remembers the talking point for passage of the over $800 Billion “American Recovery and Reinvestment Act of 2009” would keep unemployment below 8%? And how well did that work out? Unemployment skyrocketed, and is now barely above 8% three years later. And that’s still a bogus number.
This number does not take into account people who are no longer are kept on the unemployment rolls because their benefits have run out, and unemployment numbers only reflect the number of people collecting unemployment. The number of people who have found jobs are often underemployed because they can’t find anything else. This leaves a gap of people who have left the job market, i.e., quit looking because they cannot find anything. The Labor Department or whatever other department that is keeping the statistics never has and never will keep those numbers because they have no way to determine who has given up. So the figures lie, or at the very least don’t tell the whole truth.
So now the politicians are stating that the economic recovery (and by extension, the good times) is just around the corner. But is that true? According to this excerpt from a Bloomburg article:
It’s important to note that historical data collected by economists Carmen Reinhart and Kenneth Rogoff show that it takes almost five years for employment to recover from the wreckage of a deep financial crisis.
And a deep financial crisis it was too. Not a good time for anyone, and there doesn’t really seem to be the quick fix that the President or the opposition keeps thinking there is. From the same Bloomburg article:
Much of the problem is self-inflicted by Congress. Lawmakers are putting off until after November’s elections a crush of expiring Bush-era tax cuts, the payroll tax reduction and dozens of other tax breaks and spending programs. If they expire, and an approved $100 billion in spending cuts occur at the same time, economic growth would slow to 0.5 percent next year, the Congressional Budget Office says. As Bloomberg View columnists Betsey Stevenson and Justin Wolfers write today, last summer’s debt-ceiling fight almost derailed the recovery, and this year’s replay could be worse.
Congress also lacks a plan to attack the long-term problem of entitlement spending and has yet to fix an overly complicated tax code. Worse, lawmakers have purposely built instability into the system by disingenuously adding expiration dates to tax cuts to meet budgetary rules.
Those invoking the uncertainty principle fail to mention that inflation and interest rates are historically low. Federal Reserve Chairman Ben S. Bernanke has repeatedly pledged not to raise rates at least through late 2014 — a gold-plated certainty guarantee if we ever saw one.
The pledge may be showing up in an uncertainty index created by Steven J. Davis, a University of Chicago business professor, with two others. Using news searches, differences among economic forecasters and other tools, they have measured the level of uncertainty by month, back to 1985. Their research shows that monetary policy and taxes, not regulatory policy, are the biggest drivers of uncertainty.
The Senate has not passed a budget resolution in over 3 years. That’s uncertainty.
Here’s the bottom line – Neither political party will be able to guarantee your happiness, no matter what the political elite promise. Your happiness is up to you, because the politicians have a different agenda:
In case any of you didn’t know, a typical politician’s primary job is not to serve the people who elected him. His primary job is to get himself (or herself) elected or re-elected. Second is to reward all those contributors that gave $$ to help him get elected. Third is to get as many perks & benefits as he can while he is in office. Last on the list is the common person like you & I.
And that’s their happiness, not yours…