When jobs become too costly, they get destroyed and they never come back -- by the millions. Can you count a record 92 million people not participating in the workforce?
The only way our slow boat to permanent economic stagnation is going to be turned around is if we return to the economic policies of the 1980s and 1990s.
That’s when a pair of economically savvy presidents named Reagan and Clinton made sure tax and regulatory policies did not cripple the ability of capitalism to create economic growth, prosperity and jobs.
It doesn’t matter how many lightly taxed and lightly regulated “Promise Zones” President Obama sets up in North Carolina or Texas with a wave of his mighty pen.
The whole country needs to be turned into a permanent “Promise Zone.” But that’s never going to happen as long as we have someone in the White House who doesn’t appreciate or like the free market and doesn’t know the difference between capitalism and cronyism.