Thursday, June 23, 2011

The Obama job market

Victor Davis Hanson explains the mindset in the world where jobs are made:
Two thoughts: One, the latest Democratic idea of borrowing even more money is de facto proof that all the bailouts, borrowing, vast increases in unemployment and food-stamp monies, Obamacare, etc., have done nothing but terrify employers, who are holding off buying and hiring. And, second, when one adds in the National Labor Relations Board roguery, the presidential quips about the wealthy, the Chrysler creditor mess, the nonstop spread-the-wealth, already-made-enough-money demonization of those who make over $200,000, etc., we are witnessing a sort of psychological stasis in which millions of employers are shrugging and collectively sighing, “I think I’ll pass until this crazy outfit is out of here.”
Hanson posted that in the morning and by the end of the day, CNBC reported this headline: "Firms have a record $800 billion of cash but still won't hire."

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