"The Real Reason Why Unemployment Won't Shrink"

[Beau Bowling]

The real reason that unemployment lines won't shrink.An article in Forbes, "Economics No Match For Politics" by Richard A. Epstein, December 8, 2009 is a good example of what is wrong with the Obama Administration, his policies, his "NEW WORLD view" and his advisors, who are nothing more than liberal socialist political "hacks" whose joint knowledge of economics is "nada" at best! Their political agenda is to win elections by buying off enough of the electorate poor and benefit the liberal wealthy who will be the beneficiaries of Cap & Tax and profiteers from his Green revolution to stay in political power. Any conservative, libertarian or Republican has to be furious and dismayed but not surprised at this systematic abuse of political corruption like in Chicago by Obama and his political hacks - Rahm Emanuel and David Axelrod !"No credible economist could think that direct incentives of homeowners to retrofit their homes to improve energy efficiency could place a dent in the ranks of the 15.4 million unemployed. High on Obama's agenda was an investigation of public-private partnerships that could, at best, only usher in yet another round of economic gimmicks" says Epstein.Obama touts his worst economic blunders as his greatest triumphs. The $787 billion stimulus package in the American Recovery and Reinvestment Act was a bust. Its "Buy American" provision peeved and remains a perpetual irritant to international trade. The "Cash for Clunkers" program was nothing more than a massive public giveaway, while doing nothing to help the so called "Green" environment.Labor markets will be improved by freeing them up, not with more government regulation. Scrap the looney socialist subsidy spending, lower taxes and deregulate business and Industry to where they can operate and start hiring workers back. As Mr. Epstein points out so well: "The president's basic gut instinct is to offset every unwise market restraint with an equally foolish government subsidy." Damn good observation is what I think!Note: Richard A. Epstein is the James Parker Hall Distinguished Service Professor of Law, The University of Chicago, The Peter and Kirsten Bedford Senior Fellow, The Hoover Institution, and a visiting professor at New York University Law School. His editorial can be read in its entirety at http://www.Forbes.com.