Give Me Liberty

This morning the government released its monthly jobs report, a “net” loss of 63,000 jobs. But that included an increase of 38,000 government jobs. That means we lost 101,000 productive jobs and “gained” 38,000 parasitic jobs. So we really suffered a loss of 139,000 jobs - 101,000 real jobs, and 38,000 more that we taxpayers now have to pay for.

Of course, that’s just the salary cost. If those 38,000 people actually show up for work, the private sector will have to hire at least that many more to comply with the new regulations they hand down. Given the millions of businesses that must comply with regulations written by a single bureaucrat, ten times that many new overhead jobs would probably be conservative. And regulations are forever, and cumulative. Those 38,000 new bureaucrats will be piling on ever more burdensome restrictions for the next 30 years - and then collecting pensions for another 30 years! God only knows how much those 38,000 new “jobs” will cost our children and grandchildren.

The truth is, only productive labor and capital create jobs. Presidential candidates constantly promise to “create new jobs”, but it doesn’t work that way. Government hiring represents a net subtraction from the productive work force, just as government spending is a direct reduction of our personal wealth. So when you hear the politicians talk about “fiscal stimulus”, hang on to your wallet. Spend your tax rebate check as you see fit, but don’t for one moment be grateful to Washington. It’s your money, and it cost you a lot more than you got back!