IBD: Jobbed in America

August 14, 2010

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“Obamanomics has done more than just keep unemployment high during a modest recovery. It may also be keeping high joblessness permanent by raising the costs to businesses of hiring new workers.”

“July’s 9.5% unemployment level was bad enough. But the real problem is that the private-sector jobs machine, which is usually going full tilt at this point in a recovery, now seems to be broken.”

“To many, it’s becoming clear that if President Obama’s radical job-killing agenda stays in place, job growth will be nonexistent.”

“One of America’s great advantages has always been its flexible, private-sector labor markets. From 1985 to 2008, U.S. unemployment averaged 5.6%. For the six largest economies in the European Union, the average rate was 34% higher, at about 7.5%.”

“Yet many of those countries now have jobless rates lower than ours. Why? They’ve been dropping Keynesian stimulus as a strategy and moving more toward cutting spending and, in some cases, cutting taxes.”

Investors Business Daily

Makes me long for those “failed Bush policies” when we all enjoyed better living standards.

Tell ’em where you saw it. Http://www.victoriataft.com