Because, as has been proven the jobs growth has been in part time, low quality jobs. At the end of the day, a healthy recovery is one that is fast enough to create more jobs than new entrants to the labor force (new college grads and the like), and increase incomes through high quality, high paying jobs. Not only are we not creating enough jobs to overcome new labor force entrants, the jobs are of low quality. In addition, we have discouraged workers and baby boomers dropping out of the labor force very fast. It's the worst of all worlds, because at the end of the day, what it means is tax revenues are shrinking relentlessly, even as more and more people are sucking off the government tit. None of it is sustainable.
That's what you guys don't get. You think if you just pump Keynesian stimulus into the economy and print money, it will paper over all of these issues, but it will not. There are root causes that must be addressed for the economy to really grow again in a sustainable way. Obama and Bernanke both have turned out to be cosmetics specialists putting lipstick on a pig. I want a pig farmer who will breed the pig and a butcher who will kill, clean, and cook the pig and get the proceeds from their labor to the people. |
