Message sent by Ford opening new plant in India?
FROM CNN's Jack Cafferty:
Here's just one more example of where the jobs have gone: Ford motor company says it's broken ground on a $1 billion manufacturing and engineering plant - in India. It will employ 5,000 people when fully operational. In India.
Translation: That's 5,000 additional jobs in India while America struggles under 9.1% unemployment.
The Ford plant is expected to open in 2014 and produce 240,000 vehicles and 270,000 engines a year.
This will be Ford's second plant in India. So far Ford has invested $2 billion in that country. It's also one of seven new plants that Ford is building in China, Thailand and India. It's not unusual for manufacturers to build plants where the customers are... happens all the time.
Ford says the new Indian facility will help them reach the goal of increasing worldwide sales by 50% to 8 million vehicles a year by 2015. They say they're expanding in markets - like India - that have the most growth potential.
Makes perfect sense. India likely has more people itching to buy cars than the U.S., with its rapidly vanishing middle class.
And therein lies the problem. People in America who don't have jobs are less likely to buy a new car. As President Obama prepares to address the nation with his jobs plan tomorrow night, the American worker is facing a real uphill battle.
Unemployment is at 9.1% nationally, underemployment is even higher... and last week we learned that there were zero jobs added to the economy in august. Zero.
Here’s my question to you: What message does it send that Ford is opening a new plant (with 5,000 jobs) in India?
Interested to know which ones made it on air?
How should Obama's $300 billion jobs plan be paid for?
FROM CNN's Jack Cafferty:
Here we go again: President Obama wants to spend another $300 billion we don't have.
The president is set to roll out his jobs plan Thursday night in a speech to a joint session of Congress.
But you need a magnifying glass to find where the job creation is hidden.
Early reports suggest the plan will focus on new infrastructure spending. OK, might be some jobs created there. But an extension of unemployment benefits? How does that create jobs? Aid to local governments meant to prevent teacher layoffs? That preserves existing jobs but doesn't create jobs.
There may also be an extension of the payroll tax cut, as well as some tax breaks for businesses.
Bottom line is a lot of this is just more government giveaways.
And once again, it's being advocated with no plan for how to pay for it.
Apparently the cost of the roughly $300 billion will have to be offset by "tax increases in later years." It would all be part of a long-term deficit reduction plan that would include spending and entitlement cuts as well as tax increases.
Translation: More empty rhetoric designed to justify more deficit government spending.
No one is making any tough decisions about cutting spending or raising taxes. The government continues to kick the national debt time bomb down the road, piling on more and more government spending for which there is no money.
Of course it's unlikely that much of the president's plan will make it through Congress. Some Republicans have already dismissed it, saying it's just a continuation of the failed 2009 stimulus plan.
Here’s my question to you: How should the estimated $300 billion cost of President Obama's jobs plan be paid for?
Interested to know which ones made it on air?
@jackcafferty on Twitter
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