Unless you were completely out of touch this weekend, you know the jobs report came in flat, as in zero, nada, “0”. The economy was in neutral, at least as far as employment was concerned. But flat is actually down, as we need 125,000 jobs a month (at least) just to stay up with population growth. As John Mauldin writes about. Government is not the answer, they are destroying our economy.
The simple fact is that net new jobs for the last 15 years came from business start-ups or rather small businesses.
- Goldman Sachs notes that historically 90% of new jobs come from small businesses, with 75% coming from firms with less than 20 employees. Some of those become Google, but a lot of them are simply small, local services. But every job, if it is yours, is important.
What we need to do is to make it easier for businesses to start and find capital. Reduce the regulatory burden that small businesses face. When small local banks need 1.2 employees to deal with regulations and compliance for every 1 worker they have making loans (as reported in the WSJ this week), something is seriously wrong.
The US has roughly the same number of jobs today as it had in 2000, but the population is well over 30,000,000 larger. To get to a civilian employment-to-population ratio equal to that in 2000, we would have to gain some 18 MILLION jobs.
- 1.2 million people over 75 are in the US work force, which is getting ever closer to 1% of the total working population.
Tomorrow night we are going to hear about JOBS, JOBS, JOBS…really. What has been happening for the past 2 1/2 years to create jobs. This administration doesn’t want to create jobs, they want people dependent on government like socialist country’s.
- Spending out of control. Highest deficit in history. Obama has added more deficit than all the other presidents combined in history.
- We have now reached 100% of GDP in our debt. History tells us that we’ve entered crisis territory. No wonder the S&P downgraded out debt for the first time in our nations history.
- QE3 funding, which they will relabel.
- More regulations on the back of small business?
- Let’s tax the rich…Really. Let’s just take all their money, which if totaled all up is $1.5 Trillion. That’s smaller than the deficit that Obama will run in this year alone. That’s how absurd this is. Our debt is now around $15 Trillion.
- More Green Jobs Funding. Like the one in California this administration gave them a $535 million dollar loan and they filed for bankruptcy. Another 3 green job company’s went under.
- More special deals for the select few.
- Hey another round of Obamacare.
- More stimulus where this administration spent $700+ Billion. Remember when Obama said we had to pass this to keep unemployment under 8%. That’s really worked, as unemployment shot up to almost 10% and some economists say it is closer to 17% because of the way we are calculating unemployment. Paying $278,000 per job that was created.
- Tell us where the TARP money is?
- Announce going on another vacation?
- Buying another million dollar bus to tour?
- How’s GM – Government Motors doing?
The insanity must stop. It’s not politics, it’s about ideology. We’ve always been free, and a capitalist society.
The sad fact of the matter is that we are in for a long, slow slog uphill on employment for most the remainder of this decade, until we work through the debt crisis and deal with the deficits.