We Need Jobs, Not Another Jobs Speech by the President

President Obama was under a lot of pressure after an August 2011 jobs report told the tale in no uncertain terms.   Job growth in that month was zero, and the unemployment rate was stuck at a disturbingly high level -- 9.1%.  Following a much-publicized brouhaha over the scheduling of a "jobs speech" in September 2011, President Obama finally delivered an address to the nation in which he outlined yet another stimulus program to create jobs. After all the hoopla associated with the speech, investors expected something imaginative -- something new, different, and better.  Instead, the president tossed up a $450-billion package that looked eerily similar to the "stimulus" programs he sold to Congress in 2009 -- the ones that failed so miserably.  Infrastructure spending, aid to states, high-speed rail, and temporary tax cuts highlighted the president's proposal, just like they did almost three years earlier.  Representative Paul Ryan (R-Wisconsin) gave an...(Read Full Article)