“To this day, economists don’t understand why firms cut production as much as they did, or why they cut labor so much more than they normally would,” said Romer. “The current recession has been fundamentally different from other post-war recessions… Rather than being caused by deliberate monetary actions, it began with interest rates at low levels… Precisely what has made it so terrifying, and so difficult to cure, is that we have been in largely uncharted territory.”Perhaps I may be of assistance to Ms. Romer. The administration and the Congress have demonstrated that they are hostile to businesses large and small. That have immeasurably increased the cost of hiring employees with their health care law. They continue to threaten to increase taxes on taxpayers. And they meddle in financial regulations as if they were Captain Picard from Star Trek:TNG and saying "make it so" actually made it so.
Were they not so incompetent at governing, business owners might have the confidence needed to hire new workers and expand the economy. We are not in uncharted territory. We are in old and familiar territory. It has been trod by decades of europeans. We walked it in the 1970s and in the 1930s.
And the solution remains effective, if lacking in the "nuance" that leftists desire. It is the free market.
Get government spending under control. We are not under taxed, they are spending too much.
Pass regulations that solve problems instead of regulations designed to stifle markets. It is not only acceptable for people to earn large sums of money, it is desirable.
And stop trying to make us look like Europe. Our forebears left Europe...and other places....for a reason.
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