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Friday, October 14, 2011

Regulations costing billions of jobs

John McCain spouted the usual line on regulation killing jobs - clearly misspeaking saying "billions and billions of jobs". Anyway, I am so tired of this line from the GOP. While there are some regulations that were introduced with bipartisan support (like Sarbanes-Oxley) and no party is solely to blame for this - it has become standard Obama-attack to blame him for all the "job killing" regulation. The GOP controls the House, if you want a moratorium on regulation, introduce a bill. For crying out loud, stop whining about it and pass it.

But the larger point is this; regulation is certainly a factor in job creation, but clearly the ONLY real problem is lack of aggregate demand. One can read literally dozens of economists who agree; one can read recommendations from a group of leading CEO's published recently who agree. For the love of Pete, even the staunchly-GOP-favoring National Chamber of Commerce agrees.

The GOP simply MUST stop talking about this minor issue, and focus on driving demand - which is what the White House Jobs Act does.

Shut up and pass it.


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