In a glaring example of Orwellian double-think, advocates of ObamaTrade say that it will create jobs while at the same time saying that we must pass a Trade Adjustment Assistance bill (TAA) to provide subsidies for U.S. workers who will lose their jobs.
While the U.S. Department of Labor continues to tout decreased unemployment rates, the reality is that a significant portion of the unemployed have simply withdrawn from the job market entirely, according to a survey by Express Employment Professionals. According to the survey, 40 percent of the 8.5 million unemployed Americans have given up looking for jobs.
Once again the free market is working its magic — this time in the automotive field, with driverless cars and leased cars. Its "invisible hand" is making life simpler, easier and cheaper.
Further evidence of the federal government’s vast overreach can be found in a report out of the Competitive Enterprise Institute (CEI) that reveals that over 3,500 new regulations were issued in 2014, and 224 new laws had been passed. According to the report entitled Ten Thousand Commandments, the cost of government regulations is $1.88 trillion per year, or $14,976 per every household.
Keynesian experiments with the economy are having, once again, unintended consequences. Freshly created money, instead of acting as a stimulant, is acting as a sedative.