John Ransom

With data showing that the housing market has gone into reverse, another of Obama’s blue ribbon panels is about to report to the president on ways to get the U.S. economy going.

Heading up the President's Council on Jobs and Competitiveness is corporate welfare queen GE’s Jeffery Immelt.

Expect, then, Obama’s Council on Jobs and Competitiveness headed by Immelt to recommend more of the top-down central planning where Big Business, Big Labor and Big Government connive to divide up the jobs pie at the expense of the rest of us, the little guys.

The program will kind of be like Obamacare, only for our whole economy.  The council is liitle more than a way-and-means commmittee for Obama's academic views of the economy. It will contain nothing new or notable.  

Maybe they’ll let us all apply for a waiver now.

“General Electric Chief Executive Jeff Immelt and 25 other business, labor and academic leaders on Monday will present President Obama with five ‘fast-action steps,’” writes the Los Angeles Times, “to create 1 million jobs through such moves as increased worker training in advanced manufacturing skills and streamlined visa procedures to boost tourism spending.”

Amongst the recommendations, according to the LATimes (my comments in notes):

1) Develop training partnerships with community colleges and vocational schools to help fill what they said were more than 2 million job openings in advanced manufacturing in the United States. (Note: More pork barrel spending. This program is nothing new. It's already in existence. Note the Times use of “what they said were more than 2 million job openings.” I asked the National Association of Manufacturers to verify the 2 million job openings. They could not. It’s an estimate based on retirements over ten years, not jobs right now.)

2) Increase travel and tourism industry jobs by making it easier for foreigners to get visas to visit the United States. (Note: More illegal immigration.)

3) Streamline the federal permit process for construction and infrastructure projects. (Note: More high-speed trains and union transport jobs. This one’s for Richard Trumka.)

4) Make it easier for companies to obtain Small Business Administration funding. (Note: More too-big-to-fail loans)

5) Encourage retrofitting of commercial buildings to be more energy-efficient, creating additional construction jobs. (Note: More green jobs.)

John Ransom

John Ransom is the Finance Editor for Townhall Finance, host of Ransom Notes Radio and you can catch more of the best money advice and monetary commentary by him daily 10am PT, 1pm ET at or on Comcast Cable


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