There are a number of explanations for why America is grasping glorious new lows of economic despair, including the largest annual increase in the number of poor people in 54 years.
Some people will tell you our economic doldrums are the product of insufficient demand for goods and services. The housing crash, foreclosure crisis, and high levels of household debt have made consumers reluctant to spend money they don't have, hurting business growth. Mainstream "economists," which is probably a fancy word for "communists," believe payroll tax cuts and infrastructure spending could be the solution.
Yesterday, Speaker John Boehner offered his own economic diagnosis at a speech before the Economic Club of Washington, DC. According to Boehner, the executives of the world have arisen from their slumber and learned they have nothing to lose but their golden chains (and gold shower curtains, and corporate jets, and expense accounts)…
I can tell you the American people — private-sector job creators in particular — are rattled by what they've seen out of this town over the last few years.
My worry is that for American job creators, all the uncertainty is turning to fear that this toxic environment for job creation is a permanent state.
Job creators in America are essentially on strike.
What will it take to return our Galtian overlords to their rightful place in the corner office? Like all great movements for economic justice, all they ask for is a fair day's de-regulatory activity for a fair day's campaign contribution. And of course, like the song goes, yes it's bread they fight for, but they fight for tax cuts too.
Photo by Mark Wilson/Getty Images News/Getty Images
Tags: Economy, John Boehner, Taxes, Unemployment