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As you may recall, on the campaign trail, Joe Biden was heralded as “head of the Middle Class taskforce” – whose activities can be viewed here.

Yet the question remains: What has Joe Biden done for the Middle Class?

Several months ago, I checked the Middle Class Task Force site only to find a discussion of ways to help people send their kids to college… and I thought, “So what?” What is the purpose of going to college if there are no jobs waiting at the other end of the tunnel? Moreover, a 20/20 special posited that Bachelor’s Degrees are “America’s biggest over-rated product.” Upping college enrollment seems to be the wrong approach. After all, 1 in 5 people who are unemployed hold at least a college degree, according to NPR.   

This month, everyone’s clamoring, “Where are the jobs, Joe?” We’re told there’s good news from the White House – that 150,000 jobs have been either saved or created in the first 100 days.

Yet, when questioned how they arrived at that figure, Joe just sheepishly replied, “I’m a little above my pay grade here as I try to explain in more detail how they count spinoff effects of actual jobs created, I’m sorry. I’m not an Economist. My background is in foreign policy and the constitution.”

He told us to be patient, that the $500 million training program was on its way. The latest unemployment figures indicate 345,000 jobs were cut in May, bringing the national unemployment rate to 9.4%. Back in January, we were promised the unemployment rate wouldn’t exceed 8% if the stimulus was passed. (To be safe, Obama changed his figures to a projected 10% unemployment rate before the end of the year.)

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2 COMMENTS

  1. Point 1: anyone who really believed that the stimulus bill would lead to many immediate jobs is, to be kine, naive.

    Point 2: any reasonable reading of the available data suggest that attaining a degree provides a moderate increase in the likehood that you’ll get a job. Around 25% or one fourth of Americans 25 and older has a degree. So, assuming you are correct that 1 in 5 of the currently unemployed are college graduates, we know that college graduated are unemployed at a lower rate than random chance.

    Point 3: while the prescriptions in your examiner article’s conclusion might lead to more jobs, they would also most likely lead to substantially reduced government revenue. Thus they would increase the deficit and make it even harder for the government to do things to mitigate the effects of the recession.

    So if you are currently unemployed, you have to wonder which you’d rather have: government funding to subsidize 65% of your cobra payments, or a reduced cap gains tax ostensibly leading to a slight uptick in employment.

  2. Joe Biden really is clueless regarding the economy and no one in the media bothers to point out that his remarks have no relation reality.

    There are three things I like about Joe Biden: I like his nice white teeth. And he wears great shoes and socks. He has the world’s most dapperly attired feet.

    Apart from his smile and his feet there is nothing else worth mentionng.

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