Recessions come and go. Typically we emerge with strong sustained growth. Not this time. Today we learned that employers added the fewest jobs in 8 months. Unemployment jumped back to 9.1 percent – and really, the level is 15.8 percent.
The housing market still stinks, as does other foundations of the economy. The answer from the Democrats has been bailout after bailout, antiquated economic schemes, huge expansion of regulation, calls for higher taxes, attacks on the profit motive, roadblocks to energy production, increasing moral hazard in markets, more crony capitalism, food stamps, dependency, massive new entitlement program, sharing of the prosperity but less new prosperity, the same wars (and more!), but no budget, no spending cuts and little economic hope.
Ian Murray at The Corner explains:
Today’s much weaker than expected employment numbers show that the president’s agenda of more regulation and increased spending has undoubtedly failed. However much money he throws at the problem, entrepreneurs are not going to start adding jobs to the economy while the burden of regulation is so high. Regulations cost the economy $1.75 trillion each year. It is regulation that is dragging us back to recession.
And via Business Insider, here is a chart that lays out the legacy of Obama’s Keynesian policies.
Republicans might have the wrong answers. They usually do. But what exactly has this administration done right? What creative ideas have they offered? How many alternative realities (you know, ‘things could have been worse’?) do we have to accept? Fact is, while these condescending technocrats accuse their opponents of being nihilists, ideologues and radicals, they are the ones that refuse to deviate from dogma no matter how much evidence of failure confronts them.