The human brain is an incredible energy drain. Taking up only about 2 percent of the body’s mass, the organ uses more than a fifth of bodily energy.
In the latest indication of how complicated putting the Affordable Care Act into action will be, the Department of Health and Human Services and Internal Revenue Service issued 18-pages of regulations just to describe what a “full-time employee” is. Of note, to the Feds a full-time employee works an average of just 30 hours a week, not the normally accepted 40 hours.
According to the Committee on Ways and Means and the IRS, compliance with the new healthcare law will take 80 million man-hours per year. Perhaps that sounds like a successful jobs program, as it will keep 40,000 people fully employed, filling out paperwork and sorting through a confounding pile of government regulations. Only problem is, that work is entirely wasteful and creates zero wealth for America as a whole. It would be better for America and for the 40,000 workers to do something useful, like build the empire state building 11 times over, to use the Ways and Means example.
More revenue, less new spending does show improvement over ’11
Barack Obama is a wonderful salesman of a singular product: himself.
By 1970, nearly 20% of American workers were employed by government.
The U.S. Census Bureau figures released yesterday underscored the struggles of American families in a sputtering economic recovery. The report also showed the income gapbetween rich and poor people grew to the widest in more than 40 years in 2011 as the poverty rate remained at almost a two-decade high.
If President Obama had run in 2008 promising to cut family incomes, shove more people into poverty, create greater inequality and make people more dependent on the federal government — and that black Americans would fare worse than everyone else — would he have won that election?
Well, the latest Census Bureau report shows that these are precisely the results Obama has delivered since taking office.
I would like to believe the U.S. economy is firmly back on track and headed toward renewed prosperity. A slow track, to be sure, but at least things are moving forward. That would be something, at least.
Except the data show a recovery in reverse, headed the wrong way…