Our relatively healthy stock market reflects not so much a recovery as an indicator that businesses are happier with their bottom lines now that they have fewer employees. Benefits are disappearing as well as employers run scared from Obamacare and regulation-crazed bureaucrats. With every employee representing a plethora of federal, state and local obligations, you can’t blame businesses for trying to do more with fewer. This is not good for those kids clutching their degrees and entering the job market.
The national deficit is careening upward of $1.6 trillion this year, with a projected debt of $24 trillion by 2021. Those young people applauding Mr. Obama so heartily are the very ones with bull’s-eyes on their backs for ruinous tax increases in their prime earning years. They also are going to find out that Social Security has been a huge Ponzi scheme, with them as the “marks.”
Young people love the Internet. It is one of the last unfettered, cutting-edge technologies. Well, enjoy it while you can, kids. Mr. Obama’s Federal Communications Commission Chairman Julius Genachowski and two Democratic commissioners decided in December that they needed no congressional authority to begin issuing net-neutrality regulations that could cripple innovation. If unchecked, this also could lead to government meddling with Internet content.
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