Really, They Will Say ANYTHING! – House Majority Leader Eric Cantor On $45 Billion For School & Home Rehabilitation.
From the newsstand copy of POLITICO that I found in a Starb*cks this a.m., a report about Eric CAN’Tor’s thinking on a portion of the American Jobs Act, i.e. spending $45 billion dollars on rehabilitating schools and homes:
“I don’t believe that our members are going to be interested in pursuing that,” House Majority Leader Eric Cantor (R-VA) told reporters Monday. “I certainly am not. There are perhaps laudable goals behind the proposals, [but] the fact is we don’t have the money. And we’ve got to prioritize. And right now, it’s about getting people back to work.”
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| If hair were compassion and truth. |
I wondered, is Mr. CAN’Tor acquainted with how buildings are “rehabilitated”? Without exception, these projects require construction workers and the use of durable goods, two areas where the unemployment rate runs from 9.1% (durables) to 13.5% (construction). That’s a bit more than 2 million people, many out of work for more than two years, and many more doing part-time work only, among the huge numbers of underemployed. In addition, rehab projects require electricians, plumbers, architects, security personnel, inspectors, permitting, and other allied professions. These jobs then cause other services to gear up. Think insurance, food services, etc. The dollar put into the economy “grows” – $45 billion for these projects might then result in $145 billion in carry on spending from the private sector that, now, is sitting on huge piles of cash, literally, cash in money market funds.
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| Another of my TWSA! staff members: disgruntled, but quite insightful. |
To check my reasoning on this I consulted a turnip I employ here at They Will Say ANYTHING! My corporate turnip verified my thinking. Yes, $45 billion for school and home rehab will indeed employ people, “yet,” my thoughtful turnip observed, “3 million turnips remain sidelined due to lack of demand.” I do sympathize.
In any event, here’s the gist. Either Mr. CAN’Tor does not understand that construction projects require construction workers, who are people, and, moreover, that the workers require durable goods like sheetrock to do their work, or he – a leader of the Tea Party and House Majority Leader – does not have the common sense of a . . . yes . . . turnip, albeit a highly paid corporate one.
What do you think? The real answer, though, kidding aside, is of course the obvious one. CAN’Tor and his minions are out to remove Keynes from the economics texts, to dismantle governments – don’t kid yourself – of all sizes. Supporting useful fiscal stimulus (they actually do know it’s useful) is, to them, off limits. And all this despite the mischief it spawns in the country. In poker terms, they are all in. They believe, despite all evidence, that the private sector will leap to the rescue, and rehab those schools and homes! If only they could pay well below the minimum wage; if only they were utterly unregulated; if only they didn’t have to do this; if only they didn’t have to do that; if only; if only.
I promise to return my neighbor’s lawn mower before November if you do.
