Friday, August 6, 2010

The Employment Nightmare Continues

Today's job report simply re-emphasizes the Obama dilemma. The Obama effort has been aimed almost exclusively at preserving jobs in the public sector. Ultimately, the cost of preserving public sector jobs is unaffordable and a drag on the rest of the economy.

It's the private sector, now buried by Obama mandates, taxes, regulations, imposed government restrictions on lending, where the majority of new hiring must come from. Large businesses will begin to do more hiring, but small to medium businesses will not. The expiration of the Bush tax cuts will only add to the reluctance of medium size businesses to commit to new employees.