Category Archives: Economics

The Job-Creator-In-Chief

Why is he playing favorites in Texas?

According to the Bureau of Labor Statistics, 214,000 net new jobs were created in the United States from August 2009 to August 2010. Texas created 119,000 jobs during the same period. If every state in the country had performed as well, we’d have created about 1.5 million jobs nationally during the past year, and maybe “stimulus” wouldn’t be such a dirty word.

To quote the president in another context, you’d think they would be thanking him, but I’ll bet those ingrate Texan hicks won’t even vote for him in 2012.

[Tagged as “Satire” because I’ve never created a “Sarcasm” category. Maybe I should.]

An Open Letter From Ken Langone

Stop bashing business, Mr. President:

A little more than 30 years ago, Bernie Marcus, Arthur Blank, Pat Farrah and I got together and founded The Home Depot. Our dream was to create (memo to DNC activists: that’s build, not take or coerce) a new kind of home-improvement center catering to do-it-yourselfers. The concept was to have a wide assortment, a high level of service, and the lowest pricing possible.

We opened the front door in 1979, also a time of severe economic slowdown. Yet today, Home Depot is staffed by more than 325,000 dedicated, well-trained, and highly motivated people offering outstanding service and knowledge to millions of consumers.

If we tried to start Home Depot today, under the kind of onerous regulatory controls that you have advocated, it’s a stone cold certainty that our business would never get off the ground, much less thrive.

Wreckers.

So Why Aren’t There “Shovel-Ready” Jobs?

To read the comments here, it sounds like we’ve reached second-world levels of bureaucracy. It’s like the whole system is just grinding to a halt. And of course, California has become worse than most places, with little prospect for change, given that the electorate continues to go downhill as the productive leave.

[Update a few minutes later]

The Texas model:

What does Austin know that Washington doesn’t? At its simplest: Don’t overtax and -spend, keep regulations to a minimum, avoid letting unions and trial lawyers run riot, and display an enormous neon sign saying, “Open for Business.”

It’s amazing what can happen when you have political leaders who understand, and don’t hate business.