We are in the sixth year of expansion since the last recession. To say this is a jobless recovery is an understatement. Our employment level is equal to the numbers we had in the seventies. Most will lay the blame at Obama’s feet, but that would not be fair.
Foreign trade deals have been going on since Nixon sat in the White House. Every President since that time has been involved in trade deals that have cost Americans jobs. Once the jobs have left, they have not returned.
Recently the job transfer has accelerated. The current Administration has put in place policies that keep manufacturing off our shores. Obama’s Cabinet has developed policies that have been hostile to business and success. I’ll run through some of these.
The Environmental Protection Agency has been very direct in their hostility toward business. Every time they issue more restrictive regulations on business that favor life other than human, it makes foreign manufacturing more favorable than trying to make products here at home. Let’s look at a few examples.
Coal is our most plentiful and cheapest energy source. The EPA recently proposed emission controls on carbon dioxide. That’s the stuff we humans exhale when we breathe. The requirements require technology that hasn’t even been put in operation. No one even knows if the technology will work. The fines for non compliance are staggering. 1/3 of the coal-fired power plants have shut down before the new requirements came out because of past regulations. As the power is replaced with more expensive alternatives, manufacturing is faced with increased costs, making manufacturing here at home more expensive. No such problem in foreign countries.
Our tax structure punishes profits. The attack on success drives manufacturers off shore because business represents their owners, the stockholders. Many can no longer afford to build things here at home. Obama wants higher taxes on the successful, so the move to China, India, or a host of other countries where business is welcome is an easy decision to make.
The oil industry hasn’t built a new refinery in the U.S. in decades. The EPA has made such a facility cost prohibited. Again, no new jobs. The Administration has kept public land free from drilling. There are proven reserves in the ground but we restrict ourselves from producing it. Again, no new employment. Oil is being drilled on private lands, but we could be energy independent if we drilled all the known reserves. Instead we funnel American wealth to the Middle East and other exporting nations. I haven’t even mentioned the Keystone Pipeline which would create jobs for the construction, but also provide cheaper end product for home consumption.
The Affordable Care Act makes hiring full-time employees very difficult. Has anyone else noticed that Fortune 500 companies have gone to part-time employment to man retail establishments? They no longer can afford to provide full-time jobs to those entering the workforce because of the penalty of healthcare. This means the youth of today can’t enter the workforce at the bottom and build a career.
All this means there is a lack of job opportunities here at home. We have become a part-time, minimum wage society that live on government handouts because of policies our government sets. And the more low-income workers receive these handouts, the more the successful will be required to pay, causing more business to leave our land.
Where exactly is my job?