The Messiah continues the baldfaced lies about the economy and “jobs saved” with his speech at the Brookings Institute this morning. This column “The Job Creation Snow-Job” by Thomas Sowell on National Review Online was written prior to today’s speech, but it captures the essence of the ongoing con job:
But government creates no wealth. Ignoring that plain and simple fact enables politicians to claim to be able to do all sorts of miraculous things that they cannot do in fact. Without creating wealth, how can they create jobs? By taking wealth from others, whether by taxation, selling bonds, or imposing mandates.
However it is done, transferring wealth is not creating wealth. When government uses transferred wealth to hire people, it is essentially transferring jobs from the private sector, not adding to the net number of jobs in the economy.
If that was all that was involved, it would be a simple verbal fraud, with no gain of jobs and no net loss. In reality, many other things that politicians do reduce the number of jobs.
Politicians who mandate various benefits that employers must provide for workers gain politically by seeming to give people something for nothing. But making workers more expensive means that fewer are likely to be hired.
Economists have long been saying that there is no free lunch, but politicians get elected by seeming to give free lunches, in one form or another. Yet there are no magic wands in Washington to make costs disappear, whether with workers or with medical care. We just pay in a different way, often in a more costly way.
Nor can these costs all be simply dumped on “the rich,” because there are just not enough of them. Often people who are far from rich pay the biggest price in lost opportunities. A classic example is the minimum-wage law.
Minimum-wage laws appear to give low-income workers something for nothing — and appearances are what count in politics. Realities can be left to others, so long as appearances get votes….
…Constant government experiments with new bright ideas is another common feature of Obama’s “change” and FDR’s New Deal. The uncertainty that this unpredictable experimentation generates makes employers reluctant to hire. Destroying some jobs while creating other jobs does not get you very far, except politically. But politically is what matters to politicians, even if their policies needlessly prolong a recession or a depression.
Real people are still losing real jobs and no phony estimate of “jobs saved or created” by this pack of lying #@%*& s is going to change that anytime soon!