Academic

THE NEW ABNORMAL. ?There?s nothing terribly mysterious about our high unemployment rate. The pri?

By Glenn Reynolds

THE NEW ABNORMAL. “There?s nothing terribly mysterious about our high unemployment rate. The primary engine of job creation in the United States is small business, which is generally held to produce about 70% of new jobs. . . . This Administration has absolutely hammered the small businessman with enormous costs and mandates. Growing enough to cross the line that triggers the heaviest burdens of ObamaCare can swiftly obliterate a small business. Reckless deficit spending makes them nervous about monetary policy. Gigantic bills no one has read ? or, in one especially shameful case, named ? are packed with buzzing swarms of unintended consequences. It?s no coincidence that unemployment grew worse as the land mines strewn through the ObamaCare bill began detonating. Who knows what will come next? There are some blood-curdling sounds coming from the fetid swamp of that lame-duck session of Congress. It?s obvious from all the ‘unexpected’ economic news that no one in Washington knows what they?re doing.”

Full post as published by Instapundit.com on August 16, 2010 (boomark / email).