The details of the Obama jobs plan were unveiled yesterday. Most of the plan is warmed-over stimulus policy. The president is sold on the efficacy of the Keynesian model of economics. That’s where you spend tax money to try to promote growth. The only problem is that most of the growth is in the government sector. The private sector lags behind. Yet that’s where real jobs are grown.
We operate on a false assumption: government somehow creates prosperity. Presidents like Obama believe he and his policies are the engine whereby jobs are manufactured. That’s more “virtual reality” than anything else. He clings stubbornly to the idea that the next $400-some billion will finally do it—put us over the top economically. In the real world, all that does is put us deeper in debt.
One cartoonist explained the Obama approach this way:
Another one with the same perspective illustrated it in this manner:
They’re both right.
This foolishness needs to end before we do.