Where Are The Jobs?

Mon, Jan 25, 2010

The rumor around Dupont Circle is that the recession is over. Wall St. has shown monstrous gains in the last year. So, if Washington politicians are happy and the New York bankers that those same Washington politicians bailed out are happy, why is the jobless rate still in double digits?

This nation’s economy cannot be defined by just one aspect. Success in one sector may not be indicative of prosperity in another and conversely richness in one division may be entirely dependent upon another. The economy is confusing to even the “experts” but to the laymen like most of us, even attempting to grasp it is daunting.

Now that the disclaimer has been issued, here is the best guess at why the road to job recovery is so long. Consumer confidence is in the toilet. The Obama Administration has made no bones about a hands-on approach to “solving” the economy and they have not been secretive about using successful business dollars and debt spending to pay for their experiments. As businesses show accomplishment, the men in black suits show up in the lobby to increase taxes to fund those businesses that have not operated so smartly. As new taxes are levied on prosperous businesses, including payroll and benefits, the option of expanding the workforce is not so enticing. This Administration needs to take a close look at their policies and consider working with American business instead of against it.

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