Monday, April 5, 2004

Repost - Kerry & the Ten Million

I posted the below in late March, right after Kerry floated this trial balloon. Now, he has actually issued an ad based upon it!!! This guy is a fool. You'll need to go to the original post for the hot links. ckm

John Kerry's Mystery Theater: Employing the Nonexistent

Kerry has proudly proclaimed that he will create 10,000,000 new jobs. I'm happy. That is a lot of jobs!!!! Economic locomotive coming!!!

Ut-oh! Problem!! Seems we only have 8,770,000 unemployed people. Bummer.

Well, let's see. We can bring in more folks from overseas. I just read Kerry's immigration policy on his official site. Sorry, no help there. I honestly don't know what his position is; the words are so vague as to be meaningless.

Oh my, we can't forget macroeconomics!! A primer on full employment is helpful. There always has been and always will be a portion of the available work force that is unemployed - between jobs, commitment problems, whatever the basis. Since we are talking about macroeconomics, the trends move glacially - so a 1999 statement that 4.5% unemployment represents "full employment" can't be far off. Let's cut the number to 4.0% to help Kerry's cause. From the current unemployment rate of 5.6%, that would mean that 2,500,000 persons of the present unemployed lot are "employable" ((8.77MM/5.6)*1.6).

Oh. 10,000,000 new jobs. 2,500,000 available American workers. Increase the work force 4-fold through immigration, newly available American workers (over age 16 - but don't forget to net out those leaving through age and death) ... I don't see it. Who does this clown's math? Well, anyway, it sure felt good to hear the speech!!

Yet another installment of John Kerry's Mystery Theater ...

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