Friday, May 2, 2014

Cheering 288,000

The Labor Department announcement of 288,000 new jobs in April was cheered as a sign of an economy in break-out mode.   What would have been denounced as a pitifully weak month in the 1982-83 recovery is hailed as a triumph in 2014.

By comparison to other months in this recovery, April looks great.  But by comparison to past economic recoveries, April is just one more mediocre month amidst a string of terrible months.

If you look at a breakdown of who is employed and who isn't, it is clear that minorities and youth are the main victims of the Obama economic program.  Black unemployment rates are twice that of whites while youth unemployment rates exceed 25 percent.  So much for the great economic game plan of the current administration.

Why not try free markets?  They made American the economic powerhouse that it used to be.  It could happen again. 

Expanding government just means more pain for those at the bottom of the economic pile.  Wealthy liberals need have no fear.  They will remain in fine economic shape and can continue to loudly proclaim their support of the poor and their concern about inequality. 

The only hope for the poor and the economically disadvantaged is for a return to free market economic policies.  Expanding government only helps the entrenched and the powerful.

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