Why haven’t jobs reappeared in the American economy? Normally, post-WWII recessions would have already dissipated by now, with job growth returning at around the 12-month mark at the latest. We’re now at the 29-month point and we’re still looking at massive unemployment and underemployment. Barack Obama demanded that business leaders start taking some risks, but as two-time Pulitzer Prize-winning editorial cartoonist Michael Ramirez points out, their hands are tied:
Red tape isn’t the only thing hamstringing American business. The Obama administration has sent plenty of price signals on taxes and burdensome regulation that will keep investors and businesses from betting on expansion. As long as the administration pursues those policies, it will keep the engine of American economic growth bound and gagged.
Ramirez has a terrific collection of his works: Everyone Has the Right to My Opinion, which covers the entire breadth of Ramirez’ career, and it gives a fascinating look at political history. Read my review here, and watch my interviews with Ramirez here and here. And don’t forget to check out the entire Investors.com site, which has now incorporated all of the former IBD Editorials, while individual investors still exist.