Sunday, September 06, 2009

Why there are no new jobs

Jennifer Rubin on why there are no new jobs (emphasis added):
[President Obama] has utterly ignored or rejected proposals to promote private-sector job growth and instead set out on a course to burden, tax, regulate, and hound American employers. There is nothing in the array of Obama policy choices to encourage job growth and much to stymie it.

James Sherk of Heritage makes a compelling case that the problem is not persistent layoffs but a drop in job creation. The labor market simply can’t absorb new workers entering the labor force. That slowdown in job creation, he says, is in large part attributable to “enormous increases in federal spending on traditional liberal priorities, such as for government-run health care, [which] raise the prospects of vastly higher taxes or rapidly rising inflation.”...Couple that with the prospect that employers may be hit with higher energy costs, a cap-and-trade regulatory scheme, and health-care mandates and one can understand that a hiring paralysis may become a fixture in the economy, absent a substantial change in the administration’s approach to economic recovery. If the president and his advisers think we can have a recovery while they attack the private sector and seek a vast expansion of government, they are in for a rude awakening. It turns out we need those private-sector employers. Who knew?

Well, I did.

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