By John Tamny of Forbes
With the federal government’s measure of unemployment in the double digits, President Obama has unsurprisingly moved job creation to the top of his list of initiatives. And while his priorities could surely be worse, his approach has been contradictory to that which might actually lead to the creation of new jobs.
Some will no doubt say Obama’s propoals on job creation are evidence of his lack of private sector experience, but it could be argued that his success in raising money for and running a national presidential campaign speaks to intimate knowledge. There are some similarities to say the least.
Indeed, when Obama sought financial support for what was at the time a long shot bid for the Democratic presidential nomination, he surely didn’t wax poetic to potential supporters about all the workers he was hiring and equipment he was purchasing in order to run the campaign. More realistically he pointed to a lean operation (including voluntary workers) and polls suggesting he had a chance to secure the nomination; those polls and subsequent primary wins the “profitable returns” that campaign donors were interested in given their desire to achieve a return on their investment in him.
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