THE TOTAL WASTE-OF-TIME JOBS SUMMIT
Today, December 3rd, the White House is hosting a "Jobs Summit." What should the attendees be advising the president? Unlike Ronald Reagan, President Obama was schooled in law, not in economics. Thus, he may not understand that there is really no mystery as to why we have our current unemployment, and how we can regain full employment.
It would, of course, have been no mystery to Ronald Reagan, who was fond of saying: "Government is not the solution to our problem; government is the problem." That is, the recipe for more jobs is simple: lower taxes, fewer regulations.
Job creation should be at the top of the administration's domestic priorities, because the inability to find a job causes more misery and hardship to far more Americans (and particularly to those who can least afford it) than the lack of health care for the 10 percent who are uninsured or potential global warming ever will.
If the president really wants to see employers go back to hiring large numbers of people, the administration will do the following: