Sep

Private Sector Payrolls Decline

ADP reports that private sector payrolls declined by 10,000 in August.

U.S. private-sector employment fell 10,000 in August, according to the ADP employment report released Wednesday, breaking a six-month run of increases.

“The decline in private employment in August confirms a pause in the recovery already evident in other economic data,” said Joel Prakken, chairman of Macroeconomic Advisers, which produces the report from anonymous payroll data supplied by ADP, in a statement.

Now, 10,000, it is true, is not a huge number. But there remains no desperately needed job GROWTH. $13 trillion in the debt hole and yet unemployment continues to mount!

Our country is in very rough shape. We need significant repeal – most notably, Obamacare – slashed spending, and to retake control of our economy from the convoluted regulatory web of Federal government.

The EPA needs to get out of the energy business and let markets work. (Many forget that BP was drilling so far offshore because the EPA had banned drilling closer to the coast.) They should instead be focusing on clean water and air, a much more modest mandate than global climate control.

Congress must re-assert authority over regulatory bureaucracies. Too often do unelected, unaccountable, pencilneck bureaucrats make law from their own desks. The most notorious recent example are the repeated promises and now efforts by the EPA to regulate so-called “greenhouse gases.” Ah yes, and the EPA has now decided to grade cars on a scale of A through D. Being that our Federal government owns GM and Chrysler, as well as controls the EPA, I can’t see any potential for corruption there!

-Hey Henry, this new Honda, it’s pretty good on fuel. Looks like a B+.

-No Frank, we gave the Ford a B. Let’s run the test again. Really punch the accelerator this time, and hard. The Honda should get a B-.

Meanwhile, Fannie and Freddie persist in destroying the American housing market. Barney Frank (D-MA), a longtime supporter and shill of these agencies, recently said that they cannot continue to operate with an implicit backing from government, but that government should and must continue to play a role in the housing market. Said Frank, “…You can’t tear down the old jail until you build a new one.” Translation: We’re going to fully nationalize the mortgage market. That’s a bit like going from the Nazi style of socialism, Zwangswirtschaft, to the Bolshevik method, total bureaucritization of entire markets.

Listening to AM 770, talker Mark Levin said recently that it will be the Tea Party who saves this nation. I hope he’s right.

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