A fool at the helm

Business is looking down the barrel of higher costs due to health care reform, talk of the VAT will only get louder, the ridiculous cap and trade scheme refuses to die, the current tax cuts will likely expire, and cap gains tax rates are going up. That is the opposite a job-producing environment.

And, of course, it's doing the opposite of producing jobs. 95% of the disappointing job increase in May was phony-baloney Government temp jobs. And, as we learned from undercover video last week, even those are tainted by bogus inflation of hours worked and double-counting of hires. The unemployment rate dropped from 9.9% to 9.7% only because more people are giving up and leaving the labor market, thus no longer counted as unemployed.

Obama's disastrous "stimulus" approach has produced nothing but massive deficits and crushing multi-generational debt. The resulting increases in taxes and higher interest rates are the precise opposite of what's needed, and they will depress economic growth even further.

Has any president ever in our history done the nation so much damage so quickly? And the awful possibility remains that we ain't seen nothing yet.

Byron