Academic

MICHAEL BARONE: Oil slick, joblessness may stymie Dems? rebound. ?The Democrats? stimulus package ?

By Glenn Reynolds

MICHAEL BARONE: Oil slick, joblessness may stymie Dems’ rebound. “The Democrats’ stimulus package kept many unionized public employees on the job. But, as liberal economists Paul Krugman and Robert Reich have pointed out, it has not done much to stimulate private-sector job creation. Maybe the contrary. We may be seeing something like the ‘capital strike’ of the late 1930s, when investors and entrepreneurs held onto their money and refrained from creating jobs because of high tax rates and intrusive government. Meanwhile, the Obama Democrats’ legislative agenda threatens recovery.”

Full post as published by Instapundit.com on June 06, 2010 (boomark / email).