Monday, June 7, 2010
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On Friday, the Whitehouse giddily touted 431,000 new jobs in May as proof that the economy is bouncing back. And Wall Street responded by plunging over 300 points, as stock brokers swan-dived out windows. But why?
Because fully 411,000 of those "new jobs" were just temporary positions for census takers - people who are being paid in tax dollars without creating anything, manufacturing anything, adding any value to the economy, and whose jobs will soon disappear.
The numbers indicate that real businesses still aren't hiring...and many experts believe it's because they're afraid of the myriad hardships that Washington is sending their way via increasing taxes, the costs and confusions of Obamacare, and the looming threat of "Cap and Trade."
In other words, the president's policies are very accurately described as "job-killing." And unfortunately, those policies are working very well indeed.