This is the second of a four part analysis of some sections of Hillary Clinton’s economic plan. Since the plan on her web site consists of basic planks and little in the way of funding estimates, we will evaluate according to economic philosophies and precepts. Each plank is copied in full and then critiqued. See Part 1 here.
The second group is called “Jobs and Wages.”
Launch our country’s boldest investments in infrastructure since the construction of our interstate highway system in the 1950s.
We do perhaps need some investment in infrastructure, but spending $300 billion to create jobs while doing it is a huge waste and an incredidible blow to the national debt. At the moment interest rates are low, but they will not stay that way. This will be a huge burden in the years to come. Plus her other economic policies will take away jobs, so the net effect will be not nearly as impactful. $300 billion is enough to directly create 1.5 million jobs for four years.
Advance our commitment to research and technology in order to create the industries and jobs of the future.
Nice sentiment but meaningless. Research and development are often the first to go in hard times. Any money put into research by the USG, will be more than offset by losses to research in private industry by higher taxes. Plus U.S. Government research programs are notorious for being pillaged by other countries.
Establish the U.S. as the clean energy superpower of the world—with half a billion solar panels installed by the end of her first term and enough clean, renewable energy to power every home in America within 10 years of her taking office.
This has zero credibility. Half a billion solar panels is still a very small percent of our total energy consumption. By my calculations, if it is done correctly comprises 0.6% of Americas energy consumption. If she spents taxpayer dollars to do this, the cost will be likely in the $50 billion range. And even this much is doubtful.
With the current market we will have to buy the panels from the Chinese. Plus she will likely fall into the same pitfalls as Obama has, and funds will disappear with bankrupted companies. Mrs. Clinton has little grasp of business in America.
If you want to see how to do this correctly read my book. The Energy Net: A Free Enterprise Solution to our Economy, Radical Islam and Climate change – Built by All of America
Strengthen American manufacturing with a $10 billion “Make it in America” plan.
These subsidies will be gone in no time, gobbled up by second rate companies in trouble. Manufacturing is a $2 trillion segment of the economy, so the effects will be negligible.
Cut red tape, provide tax relief and expand access to capital so small businesses can grow, hire, and thrive.
This would be nice, but her other initiatives would seem to negate this. Equal pay bureacracy, increase in minimum wage and other benefits promises will overwhelm small businesses. Since Mrs. Clinton does not understand busines, her program here will not likely be successful.
Ensure that the jobs of the future in caregiving and services are good-paying jobs, recognizing their fundamental contributions to families and to America.
As mentioned above, many of her initiatives are anathema to the growth of small business. The best way to build a strong business sector is to cut regulations to the bone and then leave it alone to evolve. Any government interference halts growth and evolution. But this is beyond the realm of socialist beings such as Mrs. Clinton.
Pursue smarter, fairer, tougher trade policies that put U.S. job creation first and get tough on nations like China that seek to prosper at the expense of our workers. This includes opposing trade deals like the Trans-Pacific Partnership that do not meet a high bar of creating good-paying jobs and raising pay.
Very little credibility, given that these policies were not put into place during Mrs. Clinton’s four year stint as Secretary of State, and given that Obama Administration treaties have been poorly negotiated.
Commit to a full-employment, full-potential economy and break down barriers so that growth, jobs, and prosperity are shared in every community in America.
In light of what I have seen so far, this statement has little credibility and definite socialist undertones. I prefer “life liberty and the pursuit of happiness” as the ideal. First, full employment is not possible in a free society. Second, the Bureau of Labor Statistics data has been corrupted by the Obama Administration (the real unemployment rate if you count people dropping out of the labor pool has been shown to be much higher.
The “break down barriers” phrase is usually a code word meaning racism is a major problem and the government needs to fix it.
Summary: Overall I see very little credibility in this section of Hillary’s campaign promises. Her expenditures to create jobs will be offset by losses of jobs in the private sector, her energy plan is trivial and impossible (for her), and nothing in Mrs. Clinton’s history shows any ability to negotiate trade agreements.