The President’s Job Conference at the White House today was just another pathetic joke. BHO is following in the footsteps of Hoover and FDR at making an economic bubble into a disaster. Socialism never works. The laws of economics are like the laws of physics.
When governments raise taxes, they kill capital. Destroying capital kills jobs.
When governments spend money they kill capital. They take in a dollar and put out less than 28 cents in goods and services. Destroying that capital – by taking capital out of circulation – kills jobs.
When governments spend much more money than they take in, they create inflation. Inflation weakens the value of the dollar. A weak dollar increases the costs of foreign goods – especially oil. When the price of oil increases, then lower income workers lose their discretionary income. That shift of capital from domestic purchases to overseas oil producers kills jobs.
Governments create jobs by cutting taxes and cutting spending. And improving - which includes reducing – regulations, oversight and interventions in the market.
Not rocket surgery. Even for ‘moe-rahns’ in power skilled, only, in the art and science of politics.
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