The ever-sparkling Paul Krugman, in a missive just through the wormhole from his cosseted corner of the multiverse, reports on recent political history in a United States superficially similar to our own:
For more than a year and a half — ever since President Obama chose to make deficits, not jobs, the central focus of the 2010 State of the Union address — we’ve had a public conversation that has been dominated by budget concerns, while almost ignoring unemployment.
It is certainly interesting that there is a President Obama over in Krugman’s reality, too. But our own president delivered a different 2010 SOTU address. From ABC News:
"Jobs must be our number one focus in 2010," the president said. His call for a new jobs bill drew bipartisan support from the Members of Congress seated before him in the House chamber.
Obama dedicated about two-thirds of his address to the economy and domestic policy issues as he tried to reassure an increasingly skeptical U.S. public that his agenda is the right solution to fix the nation's economic woes.
Paul One-Note, predictably, tells us “the economy desperately needs a short-run fix.” And what would that fix entail? “First of all, it would involve more, not less, government spending for the time being.” Natch.
Seventeen months ago the nation was basking in the passage of the Affordable Care and Patient Protection Act. Just a year ago we were enjoying Recovery Summer, brought to flower by the Obama-Pelosi-Reid trillion-dollar stimulus. More recently we saw the president ignore his handpicked deficit reduction commission, proposing a budget containing no discernible detour from the current Road-to-Zimbabwe; a budget ultimately rejected in the Senate 97-to-zero. Who says bipartisanship is dead?
Meanwhile, the Business Destruction Agency (formerly, the Environmental Protection Agency) is pushing ahead with new ozone rules calibrated to create maximum uncertainty for those factories yet to relocate to Communist China or other business-friendly jurisdictions. But not to worry, the Wall Street Journal tells us “the EPA and the White House have emphasized that the final rule would be flexible.”
Whatever the flexible details of the final rule, I bet I can get a head start on the waiver process by writing a large check to the Obama reelection campaign.
Meanwhile, the BDA continues what William Yeatman, writing in the New York Post, evocatively terms its “War on Coal.” Perhaps Mr. Krugman can get another column through to our Earth explaining how they create jobs over there while intentionally and systematically destroying the sector responsible for 50 percent of electric power generation. And as Robert Bryce details at National Review, don’t expect clean-tech to come to the rescue. As Texans are discovering in the current heat wave—who knew that it might be hot in Texas in August?—the wind turbines built at a cost of $25 billion over the past few years have proven nearly useless in meeting peak energy demand since there isn’t that much wind when it is armadillo-baking hot outside.
Oh, and while Krugman’s Obama has been ignoring job-creation to focus on deficit reduction, our own president was ignoring non-government employment to push Obamacare as a new deficit-neutral entitlement. Except, as Forbes Magazine contributor Avik Roy explains, ObamaCare will easily cost as much as $500 billion more than originally estimated.
In our universe, at least, there are ample reasons why factories are not expanding and other businesses are not hiring.