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October 6, 2009
Washington Times Editorial: Jobless rate hits 17 percent
Topics: Political News and commentariesAccording to The Washington Times, America's jobless crisis is much worse than the 9.8 percent unemployment rate reported Friday, and that no amount of political spin is going to convince the growing masses of unemployed that recovery is around the corner.
What the WH and the liberal Democrats fail to understand is that government spending does not stimulate economic growth. It never has, and it never will. Instead, Washington should be following the Texas model of economic development: low taxes, fiscal restraint, and regulatory reform.
Texas has learned the most important lesson of job creation: government cannot create jobs; only the private sector can. While the government may seem to create jobs when it hires people or buys things, it destroys at least as many jobs as it creates when it does so.The WSJ article also noted that Texas embraces free trade, keeps taxes low, doesn't impose unions on business and has tooled itself for 21st century global competition. This is the exact opposite of what Obama and the liberal Democrats are doing.
Posted by Richard at October 6, 2009 11:22 AM
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