Here’s a telling comment:

The drop in employment is unsurprising to those of us in the small business sector where 90% of jobs are created. In 2004 I helped start a company with two partners. We invested $500K of risk capital, put a traditional company infrastructure in place and eventually hired over a dozen people. Why? Because sentiment was positive, HSA plans were inexpensive, and growth a reality. After four years of solid growth, we sold our company to a public company, where we continued to work. In all that time, my proudest moments came from giving young people a career start in life. Many have gone on to work for places such as Symantec, Facebook and Wells Fargo. Today, my partners and I are independent, making good livings — solo. It makes ZERO economic sense for us to start a company again and employ people. The health plan we had is no longer available and coverage is twice as costly. The regulatory burdens are overwhelming and getting worse. We can see only risk on the horizon and little reward to justify that risk. So a dozen bright, talented 20somethings will likely never get the same chance to enter the private workforce.

Here are the two charts that say it all.

[Update a while later]

Some people aren’t seeing the comments at the Powerline post. I see them, but perhaps one has to be logged into Facebook to do so. A good reason not to use FB for comments. Anyway, at least that first comment is available for viewing here.

George Wills says it’s time for the Supreme Court to reestablish personal property rights.

…of Detroit:

In 1950, Detroit was the wealthiest city in America on a per capita income basis. Today, the Census Bureau reports that it is the nation’s 2nd poorest major city, just “edging out” Cleveland.

Could it be pure coincidence that the decline occurred over the same period in which union power, the city government bureaucracy, taxes and business regulations all multiplied? While correlation is not causation, it is striking that the decline in per capita income is exactly what classical economists predict would occur when wage controls are imposed and taxes are increased.

Yes, ignore theory, and ignore empirical evidence. It’s the Democrats’ war on science.

[Update a few minutes later]

This seems related: The Washington Metro — a failure of central planning.

…is a complete failure to budget:

Of course, this is par for the course for this president. His budget documents have all been studies in the dereliction of duty. And it’s true that this particular act of dereliction has in it more elements of class warfare and punitive and economically damaging targeted tax increases than the past ones. But as we take note of that added layer of misguided political economy, we should not lose sight of the underlying scandal—the president’s complete lack of interest in addressing the mounting fiscal crisis which his policies have so severely exacerbated, and his readiness to allow our government’s finances to collapse around him (or rather around his wretched successor) and to burden our children with an unprecedented and unbearable burden of debt.

I don’t think these people even understand the meaning of the word.