Obama promises 2.5 million new jobs.
The Huffington post writes about Obama's promise to create 2.5 million jobs. "WASHINGTON — President-elect Barack Obama on Saturday outlined his plan to create 2.5 million jobs in coming years to rebuild roads and bridges and modernize schools while developing alternative energy sources and more efficient cars." What should be extremely frightening in all of this is the notion that we are going to climb out of recession via expanding employment within the public sector. This approach is taken directly out of the New Deal handbook and to a lesser extent Japan's lost decade . We are rapidly heading towards a situation where the government becomes one of the most lucrative employers in the country. While this immediately gives the illusion of dropping unemployment, the effect is temporary at best. Not only are these projects the most expensive and inefficient in comparison to their private sector counterparts, but they eventually lead to government expansion and ulti