Despite trillions of dollars in fiscal and monetary stimulus aimed at boosting employment and economic growth, America’s weak labor market persists.
The numbers are grim: 10.5 million Americans are unemployed, and labor force participation is near 35-year lows. Meanwhile, the Obama administration has overseen 157 major new regulations, which have cost Americans $73 billion annually.
Rather than throw more money and more government at the problem, House conservatives have proposed the JOBS Act, which Heritage Foundation expert Rachel Greszler says would “boost economic growth and employment by freeing up the labor market, reducing unnecessary and harmful regulations, and unleashing federal lands for productive use.”
Perhaps more than any other time since World War II, the past five years has been witness to tremendous growth in federal spending, debt, regulations, and unnecessary resource restrictions. Accompanying all of these attempts at top-down governing has been the poorest labor market recovery since the Great Depression.
Washington should step back and let the private sector take the mound. The JOBS Act offers such an approach by increasing the freedom of American individuals and businesses rather than the size, scope, and debt of the federal government.
Do you think the government should get out of the way and let the economy flourish?