February 24, 2010
Why we don't need another jobs stimulus bill
The election of President Obama proved that tax and spending bills are not needed to stimulate the economy. While the U.S. economy suffered a bad year under the Obama administration and Democrat congressional leadership, bright spots do exist.
All federally licensed firearms dealers are required to request the FBI to conduct a NICS Background Check prior to the sale of a firearm. The FBI conducted over 14 million background checks in 2009, the highest number of requests in eleven years.
Winchester Ammunition 4/7/2009 press release:
Winchester Ammunition, like other ammunition manufacturers, has seen the demand for our products increase significantly since last fall. To meet that increased demand, our operations are running 24 hours a day, 7 days a week.
Hornady 4/10/2009 press release:
The shooting sports industry as a whole is currently experiencing record sales. Here at Hornady Manufacturing we are breaking our own production records in an attempt to keep up with customer demand. We have added extra shifts, machinery and we are also in the process of expanding our manufacturing plant.
Sturm, Ruger & Co. earnings report for First quarter 2009:
Firearms sales grew 55.5% from the first quarter of 2008. Chief Executive Officer Michael O. Fifer made the following comments: Demand for our products during the first quarter of 2009 has been unusually high.
Sturm, Ruger & Co. earnings report for Second quarter 2009:
Firearms sales grew 94% from the second quarter of 2008. Approximately 50% of growth is attributed to new products and 25% to industry-wide surge in demand.
Sturm, Ruger & Co. earnings report for Third quarter 2009:
Demand for Ruger firearms remained strong. Year-over-year increase in demand of approximately 50%.
Sturm, Ruger & Co. earnings report for Fourth quarter 2009 webcast is scheduled for February 25, 2010 at 9AM EST. Would anyone like to make a prediction?
This high level of business comes during the most severe economic downturn since the Great Depression. This is what creating and saving jobs really looks like. Strong sales are the result of motivated customers, not a government $787 billion stimulus package. This real stimulus was realized completely outside of President Obama's plan to increase hiring in small businesses by granting local banks $30 billion in loans.
Someone please inform our President and Congress that customer demand is the engine that drives the economy, not more government taxes and spending. All that's needed from government is to create a favorable climate and then get out of the way. Free enterprise knows what to do.