A flourishing American economic sector is fossil fuels — especially oil and natural gas — which the Obama administration seems to regret and often impedes (see: fracking and the Keystone XL pipeline). Yet the natural gas boom is one of the main reasons why, in 2012, U.S. fossil-fuel emissions were the lowest since 1992. Obama’s wariness about the pipeline suggests that he subscribes to some environmentalists’ stupendously weird theory: If the pipeline is not built to carry oil from the (supposedly dangerous) development of Canadian tar sands, Canada will leave those sands undeveloped rather than sell the oil to China.
Small businesses create most new jobs, but many businesses are avoiding hiring a 50th employee, or are replacing full-time employees with those working fewer than 30 hours a week, to avoid Obamacare’s costly requirements regarding provision of health insurance. Some colleges and universities are reducing to 29 the number of hours adjunct professors can teach, which is condign punishment for those professors — most of them, surely — who favored Obamacare.
It and other regulatory burdens, combined with the subsidization of not working (47.5 million people receiving food stamps, 8.6 million receiving disability payments, unemployment benefits extended from 26 weeks to 73 weeks — so far), partially explain this fact provided by Richard Vedder of the American Enterprise Institute: “If today the country had the same proportion of persons of working age employed as it did in 2000, the U.S. would have almost 14 million more people contributing to the economy.” Fourteen million is more than the combined workforces of 18 states.
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