So The Populists Ask: Where Are The Jobs?

     Last fall President Obama promised to make jobs the new NUMBER ONE PRIORITY for his administration. He had another one of his summits with community bankers. He sent Joe Biden out to give some money away for roads, internet access and some so-called “green” jobs like planting trees. Congress approved a new stimulus package they called a “jobs bill” that was (thank goodness) much smaller than a year ago. And then, guess what? The Obama-Pelosi-Reid triumvirate refocused the entire federal government on the President’s unpopular healthcare bill. So what is happening to jobs? What is happening in the economy? Many respected economists are concerned we may be heading for a double-dip recession. The federal government has created a bunch of jobs. It now has more employees than ever before, but government does not generate wealth to pay these people; that comes from the pockets of we-the-taxpayers. And how does he expect to create new jobs in the private sector when every action he takes stifles small business. The Small Business Administration says there are 29.6-miullion small businesses in America …more than 99% of all firms, and they employ more than 50% of all employees. The Bureau of Labor Statistics says small businesses accounted for 64% of net new jobs between 1993 and 2008. They produce 13-times more patents per employee than large firms. They are the innovators, the risk takers. Common sense says we won’t start regenerating jobs until Washington gets off the backs of small business, but common sense is a commodity in short supply in Washington nowadays.


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