A Patch of Blue

UPDATE: An increase in the minimum wage caused student unemployment this summer. A signature issue for Obama and the Dems--indeed the only accomplishment of the Do-Nothing Congress this year--making it too expensive to hire kids for summer jobs.***I spent more time in an airport today than I would have liked, so I read USA Today, not my first choice, but I found this opinion and rebuttal interesting, on the economy. Actually, I thought the rebuttal was persuasive, which I give you in full. Read on for Obama pork. (Emphasis mine.)

In 2001 and 2003, President Bush led a Republican Congress in cutting tax rates and the marriage penalty, increasing the child credit, eliminating the death tax, and reducing capital gains and dividend taxes. Without action by this Democratic Congress, those laws will expire in January 2011, and Americans will face the largest tax increase in history. Congress should make the tax relief permanent.

If Congress fails to act, a typical family of four earning $50,000 a year will pay $2,100 more in taxes. The marriage penalty will return in full force, and the death tax will return to life. Expensive gasoline is painful; imagine if your family also had to pay $2,100 more in taxes.

Raising taxes on work leads to less work. Americans will have less incentive to enter the workforce, work and earn more, and invest in education.

When you hear that we should raise taxes on the rich, remember that most small businesses pay taxes as individuals. Raising the top tax rate will harm these small business owners, from restaurants and dry cleaners to shopkeepers and repairmen.

Raising taxes on capital gains and dividends will strangle business investment.

If Congress instead keeps taxes low and cuts spending, firms will invest more, productivity and wages will rise, and our economy will grow.

When you hear that dividends and capital gains relief helps only fat-cat investors, remember that half of American households are invested in the market, including seniors living on dividend and pension income, and families invested in prepaid college tuition plans.

If America raises taxes on capital, that capital and the better jobs created by it will go elsewhere.

Some say we can't afford more tax cuts. It is important to remember that our deficit challenge is a long-term problem driven by future increases in Social Security and health care spending. Washington should cut its spending so American families don't have to cut theirs.

Future tax increases will impede further economic growth if the Democratic Congress stalls. American workers, consumers and entrepreneurs are doing their part to keep our economy growing. It's time for members of Congress to do theirs.

Keith Hennessey is assistant to the president for economic policy and director of the National Economic Council.

I would also add that Sen. Obama has participated in continuing the practice of earmarks, which have increased again under the Dems, despite their pre-election promises to the contrary. The AP highlights this:

Anti-pork watchdogs, for example, point to the $1.8 million in five earmarks for Chicago's Shedd Aquarium, which ran $8 million in the black last year and has embarked on a four-year, $100 million fundraising campaign. With that kind of money, why should taxpayers fund a $400,000 program earmarked by Democratic presidential candidate Barack Obama to help the aquarium conduct a program aimed at preventing juvenile delinquency, watchdog groups ask.

Sen. McCain has requested zero earmarks, now and in the past.

To round this post out, James Pethokoukis, US News on why the economy is not as bad as you think:

The media love bad news. Bad news sells. A story with the headline "America's Best Airports" probably won't be as popular as a story called "America's Worst Airports." For another example, here's a story about the U.S. economy from the latest issue of Newsweek, "Why It's Worse Than You Think." Not a surprising piece, given that the magazine made its recession call back in February, though the economy has stubbornly refused to roll over.

I'm not sure how I would rate the airports I went through today, but that's another story. Could have possibly had something to do with the weather. I don't think I would blame President Bush.