Ask yourself this question: What if President Barack Obama doesn’t really care about unemployment?
I’m certain the president feels the pain of those who are looking for work but can’t find it, or who cannot find enough work. And it’s a sure thing that he’s worried about what chronic unemployment is doing to his reelection chances. The jobs situation is Obama’s biggest political vulnerability. But judging by his actions, joblessness isn’t a bug of his political philosophy — it’s a feature.
After choking off inflation, cutting taxes, and resisting any call for grand, new spending programs, President Reagan oversaw an amazing expansion of the U.S. economy. In just six years, the U.S. — quite cavalierly — conjured up an economy the size of West Germany’s and added it to the one we already had. Building on that base, President Clinton oversaw an even greater expansion, fueled by the entrepreneur-driven high-tech field.
Then along came George W. Bush (and a thoroughly corrupt Congress) with his “compassionate,” big-government conservatism — and we got huge increases in spending, a big new entitlement, and a lame economy. It all came crashing down in 2008, setting the stage for a young and untested Democratic senator to win the White House.
Not one to let a crisis “go to waste,” Obama oversaw spending increases that would make the old Spendthrift Republican Congress™ blanch, and yet another massive and labyrinthine entitlement program.
So here we are, more than two years into the recovery, and unemployment is rising while the labor force is shrinking — a feat unparalleled in modern times. And where are the entrepreneurs? They’re going Galt rather than deal with the massive Regulatory State foisted on us by meddling Democrats and their rent-seeking buddies in Big Business and Big Labor. Or they’re deciding not to grow their businesses, lest they get caught in ObamaCare’s snare.
None of which came as a surprise to anyone, really.