Monday, July 11, 2011

Obama's dismal performance on jobs

Obama came into office saying that he would revive the economy and create jobs, but at this point his handling of jobs and the economy has pretty much been a complete failure, as this article explains quite well.

The White House Council of Economic Advisers' latest report showed that the so-called stimulus created or saved only 2.4 million jobs, at a cost to the taxpayer of $250,000 per job. That doesn't exactly inspire confidence in our leadership or the economy. As the author of the article says, it is "difficult to rally around what looks like foolishness."

Then, with the economy still down, the Democrats forced through ObamaCare. This was despite the fact that arguably the most liberal state in the country (Massachusetts) voted for a senator (Scott Brown) whose platform centered around his opposition to ObamaCare and the fact that he would be the crucial 41st vote needed to block it in the Senate. The health care law imposed a litany of new taxes and regulations on small businesses that drive up the cost of employment. Environmental regulations heaped further costs onto business, particularly manufacturing. Is it any surprise that the private sector is not eager to start hiring?

It seems that Obama thinks that jobs are created by government, not by entrepreneurs. The current economic slump has been a testament to that delusion.

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