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    This site is about libertarian ideas, politics, economics, government, freedom, property rights, entrepreneurship, innovation, objectivty and other such stuff important to humans. I uphold libertarian principles and believe wholeheartedly in minimal government, or no government if it would work -- this blog explains why.

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    « Does Obama feel our pain? | Main | Obama's ambitious agenda »
    Friday
    Jun042010

    Disappointing employment report

    No matter how many times the adminsitration and its lackeys try to pump up the economy, the employment numbers are still awful. Without census hiring, which has fallen under a cloud lately regarding firing and re-hiring to inflate the numbers, new hiring is anemic and many people are giving up looking for work. It appears we might have around 20% unemployment and underemployment for quite awhile, especially as companies become more efficient.

    The new healthcare law, energy regulation proposals and pending financial reform wil also delay hiring  until employers know what their employee costs will be.  Europe is struggling and this doesn't help as exports will likely shrink along with tourism. If Obama bans oil drilling this will also contribute to unemployment, and it's unlikely new energy hiring will take place due to lack of a market for these energy resources.

    Government can continue to hire, but if it's not productive work, it will only increase the debt and put pressure on higher taxes -- higher taxes will hurt private sector hiring.

    The administration is going in the wrong direction -- we get more evidence everyday. Mr. President and congress -- release the private sector -- it's the only way to turn around the economy.

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