Creating Job Aids

The Black Jesus and the Old, 'new Deal ' to 'create' 2.5 Million Jobs!

O Believers!

The new Messiah. His divinity is all about change, hoping for change and changing for the hope - not to mention coolness and hype. So what is the second coming of Jesus doing ? In the name of progressive change the divine one has reappointed 28 former Clinton advisers to his 'shadow government', named Tim Geithner an insider from the New York Central Bank and someone who is partially responsible for the current economic mess as Treasury Secretary [bad choice]; and now his holiness has announced that HE and HIS government [not markets you understand], will create 2.5 million jobs. Right out of thin air! Or maybe just by adding holy water ? Note to the Messianic genius - governments cannot create anything. Maybe his divinity can read the history of the 1930s and the failure of the New Deal to re-educate his Harvard trained mind before he wipes out the US economy 'creating' 2.5 million eco-jobs with welfare money.

O Believers!

The great one, the new prophet and savior of mankind, truly believes that HE [with divine approval?] will save the US economy and 'manufacture' jobs. Listen to what his Harvard trained eminence, with the ancient prophets smiling from above no doubt, had to say about HE and HIS team's plan to solving the government created economic crisis: "..this plan is big enough to meet the challenges we face. ... We'll be working out the details in the weeks ahead, but it will be a two-year, nationwide effort to jump-start job creation in America and lay the foundation for a strong and growing economy."

O Believers!

Blessed be the prophet Obama. The new messiah's plan in his own words [are they divine?], "will mean 2.5 million more jobs by January of 2011." Saving, creating, - a national effort ! personal and communal meaning ! Maybe we can call this the new 'Volksgemeinschaft' or the O'Messiah's state-individual community agreement ? His divine being has proclaimed that the US will be engaged in a 2 year national socialist effort at inventing jobs - how communal, patriotic and heart warming. Tears well up in sundry eyes, as hearts throb to the messianic beat. But there is a slight problem for the holy messiah and the true believers - governments don't create jobs.

O Believers!

But the kool-aid drinking media and the frenzied and brainwashed [but they hate Christians remember] O'Messiah cult, too busy to read, to get educated, and too disdainful of human skill and ingenuity, will wildly applaud and believe the Black Jesus and his commandments that 'we shall create and save 2.5 million jobs!' That would be the 11th commandment along with the other 10 that no one in today's highly educated world can name. Markets will no doubt rise, female media correspondents faint, and Oprah and friends, along with the racist Trinity Church in Chicago will scream and dance.

O Believers!

The only problem is that government does not create anything. Government does not have independent revenue sources. Government does not have private capital. Government does not create private markets, private contracts, supply and demand and price points. Government does not expand anything other than state power which crowds out and destroys private capital. By destroying private markets in 'creating' welfare programs all a government will do is increase debt and actually increase real unemployment over a longer period of time.

Apparently basic economic knowledge is not a requirement to be President or a messiah.

O Believers!

The O'Messiah is simply imitating the failed policies of FDR in the 1930s - one of the great statists and socialists of all time and much beloved by students, professors, and the media. FDR's statist deal apparently 'created' 5 million jobs in the US during the 1930s. Roads, bridges, stadia, public gardens and parks were all 'created' by FDR's autocratic government. However in 1939 25-35 million men were still unemployed - the same number as in 1932. So over a 7 year period nothing changed. FDR did not create jobs, he did not stimulate the economy. In fact he raised taxes, increased government spending by 3 times, increased the Federal debt by 10 times, and after 7 years of hyper-active government interventionism the result was the same - mass unemployment.

Henry Morgenthau was Treasury Secretary during this period and was the man responsible for writing the cheques. In 1939 he admitted the entire New Deal program was a colossal failure: "We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and now if I am wrong somebody else can have my job. I want to see this country prosper. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. I say after eight years of this administration, we have just as much unemployment as when we started. And enormous debt to boot."

You will never see such quotes or facts in history books, classrooms or in the media. FDR like the O'Messiah is a saint like figure. FDR 'saved' America during the Great Depression. Actually no, he and his policies and that of the preceding Hoover administration caused the Great Depression. The dirty thirties were a government creation not a market failure. High taxes, protectionism, reduced credit, massive regulation and an orgy of spending and governmental interference created and deepened the Depression. Far from saving anything, FDR actually destroyed not only millions of jobs, but millions of ordinary lives.

O Believers!

And for that FDR is a hero.

Now fast forward the new O'Messiah. HE and HIS government, like FDR's, will create or save 2.5 million jobs. This is rather disappointing since the great socialist FDR created or saved at least 5 million. One would expect more from a divine being. But no matter. Like FDR the Black Jesus will create public works programs targeted at 'infrastructure' since according to his holiness only public money can 'save' the US' decrepit infrastructural system. However we have the added bonus of hundreds if not thousands of Greenie programs which will be added. Apparently since the state is the only actor which can build a road, it must de facto be the only actor who can love and nurture Mother Earth. So not only will the adoring and publicly paid legions of O'Messiah supporters be busy repairing roads, bridges and sewers, they will also be engaged in trimming bushes, planting flowers, hugging trees, and tenderly cleaning up rivers and streams. We should expect that the welfare created armies of the new Messiah, during the GlobaloneyWarmed summer months of massive climate change will be dancing naked and gaily in the pristine forests and meadows that they have 'saved'.

Not only will his holiness 'save and create 2.5 million jobs', he will also save Mother Earth!

O Believers!

It is enough to make one drop to his knees, crying and driveling snot and thanking the divine presence for his prescience and massive intelligence in saving us from ourselves! Blessed be the new Jesus !

So let's see. The Black Jesus will hire 2.5 million good little statists. He will pay them by either raising taxes on others, or by incurring more debt by selling debt instruments to largely foreign buyers [if any remain]; or he will simply print the money. So the 2.5 million 'created' jobs are not actually jobs per se but a massive welfare program paid by taxes, future obligations with interest, or through a devalued currency and hence a living standard reduction for all taxpayers. Nice.

Would it be any different if his holiness asked every American to go outside and dig holes for 6 months ? He could then claim to have created 300 million jobs overnight and saved the US economy. He could repay the labor of digging holes, by granting every American a welfare cheque for this 'work'. This payment would come from sur taxation or debt. Is increasing taxes and debt creating jobs? Does an economy flourish when incentives to produce product and make a profit are diminished? Does real GDP actually grow when you print money or sell debt and hand over the proceeds in welfare payments?

O Believers!

The O'Messiah's plan is plainly stupid. It is FDR statism. New Deals have always failed. Nazi Germany contrary to popular myth was a bankrupt state in 1939 thanks to nationalist socialist engineering. War in 1939 was inevitable. The Russian empire imploded as 'New Deals' destroyed capital, jobs and even morality. Now we have the Black Jesus, whom the media chants is 'gonna save us' [so eloquent] proffering the same nonsense. HE will create or save 2.5 million jobs? No he won't. Like FDR he will destroy millions of jobs and with it millions of lives. And like FDR being an elitist Ivy league snot he won't care a whit and will use deception and lies to justify big government and the expansion of state power.

About the Author

Nothing good will ever come out of increased taxation or another FDR statism.

I want to create a organization that aids homeless people with a place to eat, stay, shower, find a job, etc.?

Also housing placement and drug/alcohol counselor/mental health. But I'd have to apply for grants. How do I go about all this?? NEed alot of advice, I need to write a grant, but kind of confused. Any help would be appreciated. Thanks!

An organization like that already exists, The Salvation Army, and they do a great job.

Creating Job Aids

Creating Opportunities in the Kibera Slums of Nairobi

529 Plans and Financial Aid Eligibility

If you're thinking about joining a 529 plan, or if you've already opened an account, you might be concerned about how 529 funds will affect your child's chances of receiving financial aid. Of all the areas related to 529 plans, financial aid is perhaps the most uncertain, and the one most likely to change in the future. But here's where things stand now.

First, why should you be concerned?

The financial aid process is all about assessing what a family can afford to pay for college and trying to fill the gap. To do this, the institutions that offer financial aid examine a family's income and assets to determine how much a family should be expected to contribute before receiving financial aid. Financial aid formulas weigh assets differently, depending on whether they are owned by the parent or the child. So, it's important to know how your college savings plan account or your prepaid tuition plan account will be classified, because this will affect the amount of your child's financial aid award.

A general word about financial aid

Financial aid is money given to a student to help that student pay for college or graduate school. This money can consist of one or more of the following:

• A loan (which must be repaid in the future)
• A grant (which doesn't need to be repaid)
• A scholarship
• A work-study job (where the student gets a part-time job either on campus or in the community and earns money for tuition)

The typical financial aid package contains all of these types of aid. Obviously, grants are more favorable than loans because they don't need to be repaid. However, over the past few decades, the percentage of loans in the average aid package has been steadily increasing, while the percentage of grants has been steadily decreasing. This trend puts into perspective what qualifying for more financial aid can mean. There are no guarantees that a larger financial aid award will consist of favorable grants and scholarships--your child may simply get (and have to pay back) more loans.

The two main sources of financial aid are the federal government and colleges. In determining a student's financial need, the federal government uses a formula known as the federal methodology, while colleges use a formula known as the institutional methodology. The treatment of your 529 plan may differ, depending on the formula used.

How is your child's financial need determined?

Though the federal government and colleges use different formulas to assess financial need, the basic process is the same. You and your child fill out a financial aid application by listing your current assets and income (exactly what assets must be listed will depend on the formula used). The federal application is known as the FAFSA (Free Application for Federal Student Aid); colleges generally use an application known as the PROFILE.

Your family's asset and income information is run through a specific formula to determine your expected family contribution (EFC). The EFC represents the amount of money that your family is considered to have available to put toward college costs for that year. The federal government uses its EFC figure in distributing federal aid; a college uses its EFC figure in distributing its own private aid. The difference between your EFC and the cost of attendance (COA) at your child's college equals your child's financial need. The COA generally includes tuition, fees, room and board, books, supplies, transportation, and personal expenses. It's important to remember that the amount of your child's financial need will vary, depending on the cost of a particular school.

The results of your FAFSA are sent to every college that your child applies to. Every college that accepts a student will then attempt to craft a financial aid package to meet that student's financial need. In addition to the federal EFC figure, the college has its own EFC figure to work with. Eventually, the financial aid administrator will create an aid package made up of loans, grants, scholarships, and work-study jobs. Some of the aid will be from federal programs (e.g., Stafford Loan, Perkins Loan, Pell Grant), and the rest will be from the college's own endowment funds. Keep in mind that colleges aren't obligated to meet all of your child's financial need. If they don't, you're responsible for the shortfall.

The federal methodology and 529 plans

Now let's see how a 529 account will affect federal financial aid. Under the federal methodology, 529 plans--both college savings plans and prepaid tuition plans--are considered an asset of the parent, if the parent is the account owner.

So, if you're the parent and the account owner of a 529 plan, you must list the value of the account as an asset on the FAFSA. Under the federal formula, a parent's assets are assessed (or counted) at a rate of no more than 5.6 percent. This means that every year, the federal government treats 5.6 percent of a parent's assets as available to help pay college costs. By contrast, student assets are currently assessed at a rate of 20 percent.

There are a few points to keep in mind regarding the classification of 529 plans as a parental asset:

• A parent is required to list a 529 plan as an asset only if he or she is the account owner of the plan. If a grandparent, other relative, or friend is the account owner, then the 529 plan doesn't need to be listed on the FAFSA.
• However, any student-owned or UTMA/UGMA-owned 529 account is reported as a parental asset if the student files the FAFSA as a dependent student. A 529 account is considered an UTMA/UGMA-owned account when UTMA/UGMA assets are transferred to a 529 account.
• If your adjusted gross income is less than $50,000 and you meet a few other requirements, the federal government doesn't count any of your assets in determining your EFC. So, your 529 plan wouldn't affect financial aid eligibility at all.

Distributions (withdrawals) from a 529 plan that are used to pay the beneficiary's qualified education expenses aren't classified as either parent or student income on the FAFSA.

The federal methodology and other college savings options

How do other college savings options fare under the federal system? Coverdell education savings accounts, mutual funds, and U.S. savings bonds (e.g., Series EE and Series I) owned by a parent are considered parental assets and counted at a rate of 5.6 percent. However, UTMA/UGMA custodial accounts and trusts are considered student assets. Under the federal methodology, student assets are assessed at a rate of 20 percent in calculating the EFC.

Also, distributions (withdrawals) from a Coverdell ESA that are used to pay qualified education expenses are treated the same as distributions from a 529 plan--they aren't counted as either parent or student income on the FAFSA, so they don't reduce financial aid eligibility.

One final point to note is that the federal government excludes some assets entirely from consideration in the financial aid process. These assets include all retirement accounts (e.g., traditional IRAs, Roth IRAs, employer-sponsored retirement plans), cash value life insurance, home equity, and annuities.

The institutional methodology and 529 plans

When distributing aid from their own endowment funds, colleges aren't required to use the federal methodology. As noted, most colleges use the PROFILE application (a few colleges use their own individual application). Generally speaking, the PROFILE digs a bit deeper into your family finances than the FAFSA.

Regarding 529 plans, the PROFILE treats both college savings plans and prepaid tuition plans as a parental asset. And once funds are withdrawn, colleges generally treat the entire amount (contributions plus earnings) from either type of plan as student income.

Note:Investors should consider the investment objectives, risks, charges, and expenses associated with 529 plans before investing. More information about specific 529 plans is available in the issuer's official statement, which should be read carefully before investing. Also, before investing, consider whether your state offers a 529 plan that provides residents with favorable state tax benefits.

About the Author

Ishan Goraydiya is passionate writer and loves writing about Retirement and Financial Planning. These days he is writing on Netbenefits.

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Creating Job Aids