“No Man’s life liberty or property is safe while the legislature is in session”.

- attributed to NY State Judge Gideon Tucker

Thursday, September 15, 2011

Wonderboy's Approach To Job Creation

I heard some of Wonderboy's latest jobs stump speech yesterday afternoon on Bloomberg. It was hilarious.

From the soundbite I caught, his understanding of how businesses create jobs amounted to this,

'....so business owners can get some more money in their pockets and say, hey, I can hire some more people.....'

Hahaha....if only!

What a simpleton the president shows himself to be.

Business owners don't make decisions about the future based on today's cash balances. They don't take near-term income as the basis for long-term investments in hiring or buying capital equipment.

No, those decisions are based on their projections of future sales and costs. Currently, it's looking like the US economy is re-entering a recessionary phase. And taxes for next year and after are highly uncertain. Thus, most business people who can, will defer investments in people or assets until the future becomes clearer and brighter.

But Wonderboy's wrong-headed, simplistic view of economics and business is what you get when you elect a lawyer who has never actually managed anything in his life.

Except, of course, his election campaigns.

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