Larry Collier’s recent chastisement rings hollow because he offers no analysis of his facts.
Three appeals courts have ruled that President Barack Obama’s recess appoints were unconstitutional. Many Supreme Court justices appeared skeptical of the administration’s defense of the appointments during oral arguments. Other courts have also struck down rules made by this administration.
Yes the stock market is setting records. But Collier does not explain the Federal Reserve’s policy of low interest rates drives money into equities, thereby raising prices. Corporations are also sitting on a trillion dollars of cash and have been using that money for stock buybacks, resulting in higher stock prices, instead of investing in job creating ventures.
New jobs have been created, but not enough for all the young people entering the work force. While the unemployment rate has declined, the employment participation rate is at record lows.
Next time, try analyzing the Obama administration's talking points!
- Roland Camp, Munster