A National Association for Business Economics survey predicts hard times through 2011

• Survey: Economic growth will be tepid through 2011Nov. 21, 2010, 11:01 p.m. CST

  NEW YORK (AP) — The pace of the U.S. economic recovery will remain steady but slow in the face of persistently high unemployment and heavy debt burdens, according to a new survey. The National Association for Business Economics survey, set to be released Monday, found economists now expect growth of . . . .

Editor's notes: the 111th Democrat congress passed a series of bills, each measuring a thousand pages or more (health care was 2700). Understand that none of these bills were fully written. Funding sources and regulations for heath care and the FinReg (the financial regulation bill) are two such bills. FinRig will be fully written sometime in the early spring and the health care bill will not be fully written until the end of the year . . . . . . . . . . 2011. As a result, businesses cannot plot their labor and material costs and are reluctant to hire because of that reality. The corporate/investing world is sitting on 3 trillion dollars, waiting for Washington to get their act together.

Added to the pressure to NOT hire is the issue of taxation. While Obama has decided that the "rich" are those making over $200,000 a year, a rather stupid notion, he has failed to appreciate the fact that this group of represent all of the major manufacturing jobs, all of the large construction and private utility companies, and 70% of all small businesses (those companies with fewer than 500 employees).

Understand that no one secures a long term job from a poor person. ALL long term jobs are produced by rich folk. Period.

Midknight Review believes that a "rich" person is someone who nets a million dollars a year, after taxes. The fellow who makes $200,000 a year clears around $100,000. That is "well off" but not rich. A doctor in general practice makes around #130,000 a year; his net income is around 70,000 dollars.

On a national level and with regard to our Gross Domestic Product, real GDP was a minus .6% for 2009 ; to date for 2010, GDP is near 1.8% - not enough to see a positive jobs increase. Most analysts tell us that a 2.7% to 3 % growth rate in our GDP is needed before more jobs are created than lost for any given period of time during the year. The survey cited above projects 9.2 % unemployed through 2011.

Point of post: to remind us all why the economy remains a serious problem and why that problem is not going away anytime soon.