In looking through the particulars of the President’s proposed job creation plan, if the estimated 1.9 million jobs are added it will be at a cost of $235,000 each with a total bill cost of $447B. Though it may be a slightly better deal for taxpayers than “Stimulus 1”, it still is nowhere near the type of recovery this economy needs and leaves us back at the original problem.
That problem being that government cannot “create jobs” as it wages both a regulatory war against business (see: the current National Labor Relations Board has had a flurry of job killing regulations work through the agency, the iconic American guitar manufacturer, Gibson, has been raided over the type of wood used in its production, the EPA has rolled out regulations that have the effect of immediately laying off thousands of people, and the list could go on and on).
The current plans seem doomed to keep us stuck in the same cycle of throwing money at bad ideas while telling us it’s a new plan or recycling failed ideas out of the history books. We need our elected officials to do more than give lip service to creating the right conditions for jobs to be created. Maybe the best they can do is just to stop attacking job creators and move out of the way.