Friday, December 11, 2009

not in the labor force


ASPO | Some of us think America is in Big Trouble. The often sarcastic way I cast doubt on government unemployment statistics today may strike you as negative in the extreme, and in a way it is. But the real dilemma we face is simple: are we going to address deep structural problems in our economy? Or are we going to keep lying to ourselves about those problems? How long are we going to pretend they don’t exist?

President Obama has proposed another band-aid stimulus to create jobs. Rather than level with the American people about the extraordinary difficulties we will have in getting people back to work over the next decade, the President would rather pretend that throwing another dollop of borrowed money at the jobs problem will somehow fix it.

I believe Americans have to own up to the difficulties they face to have any chance of fixing them. Bear this in mind as I reveal the extraordinary lengths we go to to put an optimistic spin on a truly ugly jobs situation. Looking on the bright side, I don’t think we have to worry about a resurgence of oil demand in the United States for a very, very long time.