George Rebane
In the classic fashion of the Left, Obama’s jobs summit asked dumb questions – “I want to hear from CEOs what’s holding back our business investment.” – and then didn’t understand the answers. With his top cadre weighing in at fewer than 8% having had any private sector (i.e. wealth creating) experience, what else would you expect?
An example policy output of that little White House charade is a tax credit for a company creating a government acceptable ‘new job’. As anyone who has run businesses knows, that is a topical band-aid, and not a systemic benefit for sustained growth, like lowering the corporate tax rate. Henninger’s piece in today’s WSJ lays out the main issue of American job creation. He concludes with –
The Obama bet is that the U.S. can be a Franco-German welfare state, with a mammoth public sector, and still compete with China, India, Brazil, Korea and the rest. This is a pipedream. We are going to spend four years treading water. If we tread quickly enough, we may get enough growth to save the Democrats, but not the nation.
BTW, no one really knows what a job is. Is it someone who weatherizes five houses and is then let go? Or is it someone who is working in a sustainable business with growth and career prospects? Or is it another government employee?
Meanwhile one Nevada County version of ObamaJobs is hiring people with grant money to raise earth worms. Now there’s a growth industry.


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