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Culled by Radiozx from The New York Times
Editorial
How Not to Write a Jobs Bill
Published: February 11, 2010
The jobs bill emerging in the Senate is pathetic, both as a response to joblessness and as an example of legislation deemed capable of winning bipartisan support.
An $85 billion proposal put forward Thursday morning by Max Baucus, the chairman of the Finance Committee, and by Charles Grassley, the committee’s top Republican, scarcely began to grapple with the $266 billion in provisions for jobs and stimulus that President Obama proposed in his budget.
It was not even in the same league as the modest House-passed $154 billion jobs bill.
Worse, about half of the proposal had nothing to do with new jobs.
The single largest chunk, about $31 billion, went to renew expiring tax breaks that are generally useful but unrelated to jobs. Another $10 billion would renew an expiring Medicare payment formula so doctors wouldn’t face a pay cut.
And, by Thursday afternoon, many Democrats said they could not support the lopsided proposal.
So the majority leader, Harry Reid, decided to hold a vote on a stripped-down, $15 billion version in late February. The rest of the package, plus many other job-creation ideas, would be left for another day.
With 14.8 million Americans unemployed — more than 40 percent of them for more than six months — the smaller package is so puny as to be meaningless.
Most of the $15 billion would cover the cost of a payroll tax holiday in 2010 for employers that hire unemployed workers. Since there are more than six unemployed workers for every job opening, a tax break for hiring is worth a try.
But the proposed credit is too small to have a noticeable impact.
At best, it would create about 250,000 additional jobs from April through the end of the year, according to an analysis by Moody’s Economy.com.
An even bigger problem is that the hiring credit is unlikely to work as intended unless it’s paired with other federal support to generate and maintain consumer demand — mainly extended unemployment benefits and more fiscal aid to states. No matter what Congress does to lower the cost of labor, employers won’t hire unless they believe demand will be sufficient to sell whatever the business produces.
Absent unemployment benefits (which will expire at the end of February if Congress does not extend them) and aid to hard-pressed states, there are, as yet, no compelling signs that consumer demand will hold up this year.
At a minimum, a credible jobs package must extend unemployment benefits through 2010. Piecemeal extensions only ensure that lawmakers will have to return to the issue repeatedly, creating avoidable uncertainty for unemployed workers and for businesses that rely on the consumer demand generated by jobless benefits.
A credible package also must provide fiscal aid to states, which continue to be slammed by falling tax revenues just as more people need help.
Without more aid, states will have to cut spending and raise taxes to close an estimated $142 billion budget gap for fiscal year 2011, which starts on July 1 for most states. Last year’s gap was $125 billion. Next year’s is anticipated to be $118 million.
What senators don’t understand or choose to ignore is that state budget cuts mean layoffs. State and local governments are among the nation’s largest employers, responsible for 15 percent of the labor force, about the same share as the health care sector and far larger than manufacturing or the financial sector. Since August 2008, states and localities have eliminated 151,000 jobs.
State budget cuts also end or reduce payments to private contractors and to recipients of social programs. That reduces demand, which leads to more job loss.
The $15 billion Senate proposal may win Republican votes, but better-than-nothing is not nearly good enough. Neither is a pledge to do more later. A full response to joblessness is already overdue.
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Credit Amnesty Needed To Aid Recovery
The news is filled with stories related to the unemployment rate these days. The media, Congress and President Obama speak endlessly about the "problem." The real problem not being discussed is that of the "risk takers" having lost their ability to return to the "risk taking" they were so adept at prior to the economic tsunami.........
by Roger Fredinburg
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on the WWW
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Who is Influencing and Controlling Fox?
I am all for capitalism and fair commerce, but does it really protect our freedom of speech and the truth in media, especially in a time of war with Muslim radicals, when our most conservative network FOX is largely controlled by a rich Muslim who wants control?
Are they completely on drugs or is it us who is on drugs for slowly allowing ourselves to boil in water while the temperature keeps getting higher..........
by Laurie Roth
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IBM boosts solar cell made of abundant materials
by Martin LaMonica
IBM researchers are developing a solar cell with an eye towards what's in the ground.
Researchers on Wednesday published a technical paper in the journal Advanced Materials that describes a solar cell made of abundant materials with relatively high efficiency.
The cell can convert 9.6 percent of solar energy into electrical energy, a 40 percent boost over current methods.
That level of efficiency is already far exceeded in commercial silicon-based cells and even beat by thin-film solar cells, which are cheaper to make than silicon cells but are less efficient.
But IBM researchers set out to make a cell that uses materials that are relatively abundant elements--copper, zinc, tin, and sulfur, or selenium (CZTS).
The availability of materials for existing solar technologies limits their long-term potential, according to IBM.
Solar cells made of copper, tin, zinc, and sulfur.
(Credit: IBM )
First Solar, which claims to have the lowest cost per watt, makes its thin-film cells from cadmium and tellurium. GE, too, plans to sell solar panels with cadmium telluride cells as early as next year as well.
There are also several start-up companies, including Nanosolar, Miasole, and HelioVolt, which make cells using a combination of copper, indium, gallium, and selenide, or CIGS.
The problem with these is the scarcity of materials or the environmental impact, according to IBM researchers Teodor Todorov, Kathleen Reuter, and David Mitz, who authored the paper.
That means that other solar cell materials are needed to meet anticipated renewable energy demands, they said.
"Other solar cells which perform at similar efficiency levels are comprised of materials that have been either too costly to produce or contain elements that could limit production capacity, or have poor prospects for further improvements in efficiency, making commercialization and wide usage less likely," said Thomas Theis, director of physical sciences at IBM's T.J. Watson Research Lab, in a blog post.
One of the advantages of thin-film technologies is that that not much material is needed to make a cell, compared to traditional cell manufacturing. CIGS cells can be made using high-speed fabrication techniques, such as roll-to-roll manufacturing. The technique developed by IBM uses a similar "ink-based" method.
Matthew Beard, a researcher at the National Renewable Energy Laboratories not involved in the work, called the IBM research a "breakthrough."
The researchers estimate that if the technology can be taken beyond its basic state right now and achieve 12 percent efficiency, it could be an economically viable alternative to current products.
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