As Congress shrugs off the stunning level of unemployment and busies itself with the next step in the job-destroying takeover of American medicine, it will do everyone a great bit of good --especially Members of Congress and their staffs-- to spend three minutes this weekend watching this video.
QuantumSphere is seven years old, founded and operated by a University of California Irvine grad in Santa Ana, one of the country's most impoverished cities, with capital he raised for himself. He employs 21 people in the invention and production of advanced materials and process chemistry used in a wide variety of products from batteries to industrial inks.
These are 21 jobs that didn't exist seven years ago, with an upside that is almost unimaginable. A true jobs strategy would concentrate on letting the founder and CEO, Kevin Maloney, keep plowing his profits back into growing his company. Cutting the taxes he pays not only allows him to hire more people, it benefits the stressed city of Santa Ana and the distressed state of California. And the nano-materials products QSI produces powers productivity gains in other companies and industries.
That's how jobs are really created and that's how real GDP growth is achieved. The past year in D.C. has been an exercise in unicorn wishing done by 535 legislators and one president with almost zero experience in ever creating even one job.
Much more damage will be done before this Congress can be replanned and the president replaced in 2013. But Tuesday's elections show that the country is very much aware of the disastrous course we are on and demonstrates that our votes can and will fix it in November 2010 and November 2012. While the thousands and thousands of Kevin Maloneys of the country do their best to stay in growth mode for the next three years, political activists need to do whatever they can to get resources to the pro-real growth candidates who will defeat incumbents who are simply ignorant of how an economy grows and with it a country's prosperity and security.