Days of Change

Day 394

December 3, 2009
1 Comment

Today’s White House job summit comes one day before new unemployment figures come out. Offhand, I say they will come in with at least a stable, if not a 0.1% lower unemployment rate. Temporary Christmas help should lower the official numbers until January.

There are two basic factors preventing the free market from creating jobs. First, the government has decided not to cut taxes in any way on business. States have followed, in some cases raising them. The second factor is uncertainty. Cap and trade legislation, along with new health insurance laws, represent a huge change in what companies will pay to do business. Why hire employees when their insurance status could bankrupt you?

Either legislation will pass or dithering will continue. If a vote fails, it will come up again and again. This pattern could go on for the next year until the Democrats are soundly defeated. That dithering will keep hiring feeble at best. I wonder if anyone thought of that in today’s summit.

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