Obama's Jobs Errors | Daniel J. Mitchell | Cato Institute: Commentary

Obama's Jobs Errors | Daniel J. Mitchell | Cato Institute: Commentary: "The White House last year released a supposedly scientific analysis that claimed to show that adopting the 'stimulus' bill would cut unemployment. Indeed, the report specifically estimated that the unemployment rate today would be down to 7.5 percent.

Something obviously went wrong. The actual unemployment rate is 9.5 percent, a statistic that doesn't include the millions who've given up looking for work or can only find part-time jobs. What were President Obama's biggest mistakes?"

"businesses are not charities. They only create jobs when they think that the total revenue generated by new workers will exceed the total cost of employing those workers."

"If a worker is only worth $6.50 per hour, then a required wage of $7.15 is a one-way ticket to the unemployment line."

"Obama supported these and other Bush economic policies, so the 'mess he inherited' is also a mess he helped to make."