Lack of Demand, Not Regulation, Caused Jobs Crunch, Says Treasury Official

[nofurylike]

by Adele Stan
October 25, 2011

http://blog.aflcio.org/2011/10/25/lack-o...-official/

Businesses are not creating jobs for one simple reason, says Jan Eberly, assistant treasury secretary for economic policy: lack of demand for the products those businesses make or sell.

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Yet right-wing politicans continue to blame the jobs crisis on either existing government regulation of businesses or on proposed regulations in such areas as greenhouse gas emissions. But data presented by Eberly today demonstrates that the assertions of the anti-regulation crowd are patently false. He writes:

If regulatory uncertainty was a major impediment to hiring right now, we would expect to see indications of this in one or more of the following: business profits; trends in the workforce, capacity utilization, and business investment; differences between industries undergoing significant regulatory changes and those that are not; differences between the United States and other countries that are not undergoing the same changes; or surveys of business owners and economists…none of these data support the claim that regulatory uncertainty is holding back hiring.

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[atomic]

The GOP crashed the economy and now are using the 'opportunity' to try to gut regulations. I don't understand why America isn't on to their same old trickle down economics. They have tried it and it has failed. It really doesn't take a genius to understand that it is lack of demand that is contracting the economy, but we're talking about the GOP here. My dog has a better sense of the economy than they do.

[nofurylike]

(10-26-2011 07:09 AM)atomic Wrote:  The GOP crashed the economy and now are using the 'opportunity' to try to gut regulations. I don't understand why America isn't on to their same old trickle down economics. They have tried it and it has failed. It really doesn't take a genius to understand that it is lack of demand that is contracting the economy, but we're talking about the GOP here. My dog has a better sense of the economy than they do.

VERY well said, atomic!! great analysis in-a-nutshell!

love this: "My dog has a better sense of the economy than they do."

thank you!