Economy

Who is to blame for the state of our national economy is an issue that has become a political football. No one can argue that the recession that started prior to the Obama administration was owned by the former administration. President Bush responded with the Troubled Asset Relief Program (TARP) that was projected to be a $700 billion effort to avoid a catastrophic collapse of the banking industry. It is now projected to have done its job for less than $100 billion as many of the loans have and are being repaid with interest.

Dear Editor, The writer who states that the rich should pay more taxes has no concept of how the economy works. Today’s standard of being rich has been set at $250,000 a year. That covers about 80 percent of businesses that have more than 10 employees. If they pay more taxes, they hire less people. They are not in business to hire people. They are there to make profits. The more money they make, more people they can hire. Common sense. Right now, businesses have put all growth and expansions on hold until the government makes up its mind on what it’s going to do. Investors are sitting on their money, not investing because of a threat of higher taxes.

We've heard that President Obama doesn't understand the economy. What with his borrowing trillions, and the trillion dollars he printed right off the bat as soon as he got in office in 2008. But all those trillions he has had printed and borrowed from other countries, namely China, have served to flood our economy with a lot of money. So, people ask, where is it? Banks are sitting on it. Why are they doing this? I don't know, but I do know the printed money is worthless. It's nothing but paper.

Even during the best of times, opening your own business is a gamble against the odds. Three out of every 10 new businesses fail within two years, and half are gone within five years, according to the U.S. Small Business Administration. When the economy hits hard times and is slow to regain it’s strength, the challenge of starting up a new business is even more daunting. Yet a struggling economy hasn’t dimmed the entrepreneurial spirit. In Danville alone, 265 new business licenses were issued in 2010, down only slightly from the 273 new licenses in 2009.

Dear Editor: A recent contributor writes of "protecting Kentucky's economy" rather than supporting the Climate Stewardship Act. As an economist, I want to point out that environmental stewardship is important for our economy. We draw the inputs for our production from the environment. Our homes, clothes, medicines, this newspaper, and most things in the economy are made with great reliance on the environment. Even our workers and consumers eat and breathe thanks to a climate that is viable for ample plant life.

Dear Editor: You are misleading your readers if all you look at is the initial investment in a new basketball arena in Louisville. As Arena Task Force Chairman Jim Host has indicated, the Louisville economy is the foundation for the entire state's economy. The largest city must be successful for the rest of the state to grow and prosper. Taxes collected from Louisville Metro easily represent more than 30 percent of all taxes collected in Kentucky. I personally would prefer the arena be constructed on the U of L campus, rather than in the downtown area, but the job growth that would be generated by a downtown arena has the potential to benefit all Kentuckians.

Dear Editor, The best candidate who can help bring back jobs and help our economy is William Weyman. He is positive and not against any political parties. Don't buy into negativity. It will be easy to go to any doctor and get checkups and X-rays. Weyman has a lot of support. Weyman will strive to make things equal for everyone. Don't forget to vote for William Weyman on April 21. Tina KingDanville

Dear Editor, This is what our county is paying six-figure sums for - to increase the sale of alcohol? I was saddened to read the Economic Development Partnership's solutions for Danville's economy. Furthermore, I can't recall Danville ever looking to Nicholasville as a place we wish to emulate. I have lived in Nicholasville, and the people there are very nice, but it does not compare to Danville. Why should Mr. Lassiter stop there? Why not shoot for casinos as well? Never mind that all the increased revenue that this will supposedly generate will have to be spent on increased police patrols and numerous other services.

Dear editor, I am writing this letter so people will be aware that not all vandalism happens when it is dark or when no one is around. In Danville on Monday at around 3 p.m., someone broke the passenger front door glass out of my car as it was parked at the back door area of O'Reilly Auto Parts while I was right inside the door working. They knocked the glass completely out and stole my purse and billfold, which were lying under a sweater in my front seat. I was in total shock that such a thing could take place right by the door we go in and out of all day long.

The late Rodney Dangerfield, an amiable comedian, used to complain he just could not get any respect no matter how hard he tried. It strikes me the same is true for the U.S. economy. The economy has shrugged off a collapsed stock market bubble, a major terrorist attack, and a global war on terror. Not only has it rebounded from such shocks, it has continued to be a virtual job-creating machine in the process. Comparing our ability to create jobs with Europe's ability to create jobs should increase people's confidence.

LANCASTER - About 8 percent of Garrard County residents currently are unemployed, a dramatic drop from the nearly 13 percent unemployment rate reported to the U.S. Bureau of Labor Statistics in February 2010. Such statistics represent people using Garrard addresses to receive unemployment benefits and are not an exact science, said Garrard Judge-Executive John Wilson. The county collects a 1 percent occupational tax from each person working in Garrard. Despite the economic downturn that started nationally in 2008, occupational tax revenues have continued to rise every year.

August unemployment rate in Jessamine County dropped to a four-year low, coming in at 6.8 percent in August 2012, according to Kentucky Labor Market Information. Jessamine's rate was easily better than the state's, which saw the unemployment rate rise to 8.5 percent from July's 8.3 percent. “An uptick in the unemployment rate, especially when accompanied by a drop in the number of people employed, does cause some anxiety,” said economist Manoj Shanker with the Office of Employment and Training.

'm not sure President Barack Obama asked for help with sharpening his campaign message, but Politico reports that Kentucky Gov. Steve Beshear offered a couple of gems anyhow. First, he advised Obama to cease accepting so much responsibility for our nation's stalled economic recovery. Apparently, Beshear believes Americans' - including Kentuckians' - growing lack of confidence in the current administration has nothing to do with record unemployment, hundreds of billions in failed stimulus spending, forcing unsustainable energy sources on our communities or pushing the country down the treacherous road of socialized medicine.

We've heard that President Obama doesn't understand the economy. What with his borrowing trillions, and the trillion dollars he printed right off the bat as soon as he got in office in 2008. But all those trillions he has had printed and borrowed from other countries, namely China, have served to flood our economy with a lot of money. So, people ask, where is it? Banks are sitting on it. Why are they doing this? I don't know, but I do know the printed money is worthless. It's nothing but paper.

As the blame game by Democrats continues blaming George Bush and the Republications for their failures, recession and economic problems, etc., here are some facts about the situation:  1. The real problems with the economy started in the middle of George Bush's second term after the Democrats took control of both houses of Congress. 2. With Democrats in control, President Bush couldn't do much to constrain them so within two years they were well on their way to wrecking the economy.  3. Then after Obama won the White House and was sworn in, in January 2009, the Democrats were in total control of all three major areas of government - the House of Representatives, the Senate and the White House.    4. They continued unchecked for two more years, wrecking the economy until the Republicans took back control of the House of Representatives in 2010 and at least slowed them down.

Usury! Sounds as somber as its meaning. Biblically, lending and borrowing though acceptable practices demand accountability. That said, why is our nation nearly $5 trillion more in debt than just a few years ago? Americans who survived the Depression view usury as ANY debt beyond basic needs. Tragically, many today simply ignore that fundamental economic tenet; Congress tops the list of guilty parties. On one hand, Washington would seem to agree with prudence - at least when it's imposed on the lending side.

Often associated with baseball games, circus elephants, and a popular school lunch consisting of peanut butter and jelly sandwiches; peanuts play a vital role in American culture and its economy. Peanuts, also known as earthnuts, goobers, goober peas, and jack nuts; are grown in many Southern states. While 'nut' is in their name, peanuts are actually legumes. Peanuts, similar to beans and peas, are seeds gown in enclosed in pods. Peanuts are usually planted in April or May and actually start out as an above ground flower that, due to its heavy weight, bends towards the ground.

The Boyle County Public Library is thriving, according to a recent report shared by Georgia de Araujo, assistant director. “Opening a new building in January 2010 jumpstarted us in our location in town,” she said. “It was about the newnesss then but our numbers are staying up.” De Araujo believes the economy has played a big part in the 37-percent increase of visits over the past year. Families who cut back on their entertainment budget or cancel Internet service will instead take advantage of playgroups and wifi at the library, she said.

STANFORD - Cathy Mitchum, 59, lived her dream for three short years as owner of McKinney Station in Lincoln County. “It was a country store,” she said, smiling at the memory. “We had hardware and feed, and we cooked and had a grill.” But the reality of the economic downturn ended Mitchum's reverie in 2009 when she had to close the store and face unemployment. Many in her situation - jobless with only a few years until retirement - hung up their work boots and collected unemployment, but not Mitchum.

Only the Ohio River separates the worst-run state in America from one that turned a $200 million deficit into a $1.2 billion surplus in five years. While Forbes was lamenting the poor management of Kentucky's economy, Newsweek was running articles about why national political leaders should listen to Indiana Gov. Mitch Daniels. Somehow, I don't envision a national essay being published during the current fight over the debt crisis urging the nation to pay attention to what Gov. Steve Beshear has done during his tenure - despite the fact that he claims to have balanced the budget nine times while cutting $1 billion in spending.