Investment equals jobs creation

Long-term capital investment is the single most powerful jobs creator anywhere in the world, according to the venerable U.S. Business Roundtable, whose member companies generate annual revenues of more than $7 trillion while employing 16 million workers.

We haven’t seen any major infusion of capital investment here since 2005, have we? Thus, the financial disaster found in the glaring cumulative deficit of more than $561 million. Revenue generation lags behind significantly for a paltry $126 million last fiscal year. Debts suffocate economic growth. It translates into joblessness as neglifluenza spreads among the multitude.

“And make no mistake, economic growth doesn’t happen absent private investment. …Where there is investment—a new factory or distribution facility being built, a new store about to open, new software being installed—that is where new jobs are created,” according to a Wall Street Journal op-ed by Randall Stephenson, chairman and CEO of AT&T and the new head of the Business Roundtable.

Here at home, the CNMI suffers heavily from the lack of capital investment. The elected elite tightens its ties sitting comfortably in the land of mediocrity as “do-nothings” keeping fingers crossed that a miracle falls out of the blue dome upstairs. Nah! Nothing is ever handed on a silver platter. We must work for it and earn our dues the old-fashioned way. The annual Christmas drops no longer exist. Even Santa Claus skips the islands!

Politicians can no longer ignore their fiduciary duty in terms of the essence and strength of positive policies that promote economic growth, stability and certainty.

For instance, no matter where you roam in these isles nothing tops the mouthwash of villagers other than CUC’s high cost of utilities. It has turned families into de facto employees lining up daily to pay their dues. At the same time it has forced marginal small businesses to close their doors or put up shutters.

When do we exit the usual syndrome of shooting an arrow then drawing the target around where it hits? How about some meaningful planning sessions involving the thoughtful process?

The issue doesn’t require rocket science to resolve, but the elected elite can’t continue doing its rain and fire dance of “do-nothing,” given the egregious hardship at the village level. Health premiums just went up by 40 percent (thanks to Kilili and Inos) while power rates are likely to spark like firecrackers every other full moon as we wait for another round of increases in food items.

Does this make sense to our men of wisdom upstairs or do they need a dog and pony show so we illustrate real hardship throughout households everywhere? You must move your best foot forward and lower policy uncertainty on this issue. It’s the way forward to instituting growth by simply lowering or removing uncertainty in this and other significant policy matters.

Some arcane policies like the excise tax and other predatory policies must be revisited. Fatal mañana would only deepen the economic mess for families throughout these isles.

As the heat of the election season picks up steam, we’ve seen some familiar names being dangled as candidates. The only trouble is: these names are as exhausting when realistically measured against their lack of performance to move the lot of the multitude forward. Look at where we are today struggling in the filthy waters of horrendous cost of living. Do we repeat with the “do-nothing” troops?

I find it troubling as candidates grope for words when quizzed why the economic mess today. Some dismiss it as though they weren’t part of it, conveniently mouthing off, “I don’t know.” Weren’t you policymakers in recent years? How could you have missed the towering drop and destruction of the local economy emanating from policies crafted within and without the NMI?

Must look for candidates with decent academic competence, vision, common sense, and mindfulness. After all, the quality of life in any given country is dependent upon the quality of leadership. This should be the focus of this year’s election! Sorry, not ready to repeat, “I don’t know” for it is a very clear indication you’ve failed the multitude. Not ready to repeat history of failure and if you ever ask for my vote, it’s simple too: “I don’t know.” Sorry!

When a dysfunctional government goes out of alignment, you’d assume it’s a huge and complex system. It isn’t as complex as a human body or automobile where a malfunctioning part strains the entire system.

“A dysfunctional Congress corrodes the rest of the constitutional architecture. It imposes a burden on other branches to pick up the policymaking slack, and threatens to shift excessive authority outside the legislature.

“Similarly, it throws off kilter the balance between the federal government and state, leaving laboratories of democracy without adequate tools and leeway to conduct their experiments.”

That Congress is broken may be the ultimate dog-bites-man column, but former Defense Secretary Robert Gates’ acidic assessment is as undeniable as it is quotable: “uncivil, incompetent in fulfilling basic constitutional responsibilities, micro-managerial, parochial, hypocritical, egotistical, thin-skinned, often putting self (and re-election) before country.”

Have we replicated the dysfunctional fad in Washington, D.C.? About the only positive event hailing from D.C. is the Senate Intelligence Committee’s report on Benghazi, the death of Americans being preventable. It does make a difference, right, Ms. Hillary Clinton? Would her reaction be lackadaisical or dismissive were a family member was included in the same group?

No matter the powerful plans to upstage Hillary Clinton as the likely Democrat for 2016, the ugly ghost of Benghazi will haunt her the entire trip on the campaign trail. How does she deal with some 62 percent of Americans who no longer trust their government?

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