Wednesday, October 21, 2009

49 of 50 States Lost Jobs Despite "Stimulus"

How has President Obama's "stimulus program" been working out? Not too well, if you look at the latest figures available from the US Bureau of Labor Statistics. Despite claims that his emergency spending would create jobs, the only state that has registered an increase in the number of jobs is North Dakota, according to a report from Spero News.

Spero News reports as follows on the disappointing economic news.

"According to the data, 49 States and the District of Columbia have lost jobs since the stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus.

While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the US has already lost a total of 2.7 million – a difference of 6.2 million jobs."

There are ways to encourage the creation of jobs. Creating a tax structure that rewards job creation is a great way to encourage the creation of jobs. Creating tax rules that give people who use American labour is also a way of tilting the field in favour of job creation.

Talking about costly laws to cut down on "global warming" and hamstringing industry with crippling environmental legislation is a great way to discourage an increase in the number of jobs. Likewise, Obama's incoherent health care reform could not have been attempted at a worse time. The government can not directly step in and employ all those in need of work. But there is vast economic wealth that needs to be harnessed, nurtured and encouraged.

There can be no more important mission for government than to assure the stability of the economy, and that its benefits extend to all classes of citizens. Am impressive Dow Jones average that leaves the majority behind is no consolation to those who are out of work. it is time for President Obama to take a fresh look at his priorities. The best anti poverty program he can fund is jobs. And the overwhelming majority of jobs will be created by private business. The sooner Obama and his Democratic majority to realise this before we face even higher rates of unemployment. Nursing the economy to good health should be our top priority. Until then, everything else should be put on hold.

Left click on the table above to view it at higher magnification

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