WSJ Discovers Miscount in Total of Fairies and Dragons!

...two fairies and two fairies is four fairies and three dragons and two dragons is...

Totally agree. Only real indicator that can be relatively reliably relied upon is the unemployment rate, which can be measured, and it continues to inch toward 10 percent nationally and is already well into double digits in many parts of the country.

The government doesn't create jobs, except a relatively few government jobs, and throwing money at the problem only creates jobs like the alleged "shovel ready" ones which were touted as a selling point for the now almost universally recognized failure of a stimulus plan and which end when the "shovel ready" job is done.

Our small businesses create at least 70 percent of the more sustainable jobs and they've not been given enough credit to operate on or tax breaks to be incentivized to start up or expand.

I agree that we can use the unemployment rate as a broad measure of employment, though even there we have to be a little wary of the rather loose definitions (able to work and actively seeking employment, etc.). Still, as far as measures go, that is the only one even close to being both meaningful and reliable, as well as producing numbers which can be compared between two periods.

I also agree that the government has little or no role in job creation other than limiting taxes, keeping laws consistent and non-intrusive and enforcing contract law.

My only disagreement, and it is a small one is the emphasis on small business. While small business does create a large number of jobs, what that ignores is how many of those jobs then vanish as small businesses go under, as well as ignoring that many jobs are either for owner/operators or family of owners. Small business is essential, but so are medium and large businesses, and favoring small businesses over medium or large has a tendency to stunt growth, and usually in those small businesses which are most successful and creating the most jobs and wealth.

Don't misunderstand me, small businesses are important, but I am wary of our politician's small business fetish (at times). Businesses of all scales are essential to a healthy economy and favoring small business over large is as dangerous as the reverse.

(I don't think you were suggesting that, just a point I always make as last year there was a lot small business talk going around and I always had to make these points, so guess I got in the habit.)

But, with those two tiny caveats, I am in total agreement.