It hasn’t happened in the lifetimes of anyone who isn’t eligible for social security.
Zero net jobs were created in the month of August for the first time since 1945. It is almost mind boggling to think about what may turn out to be this President’s singular accomplishment — ending a 792 month job creation winning streak for the American economy.
Historians will be looking to determine just how the Obama Administration reached this milestone?
What were Obama’s secrets?
Just how did he spend almost a trillion dollars in ‘stimulus’ funding and get to a very round number?
The search for answers takes us around the country and indeed around the globe.
In Seattle, Washington, the federal government spent $20 million dollars on a federal grant to weatherize homes as part of their greening of America plan. How many jobs were created for $20 million? Fourteen total, eight of which are specifically tasked with administratively handling the grant.
The green economic boom continues in California where the Obama Administration provided Solyndra Corporation, a $550 million loan guarantee to make solar panels. The President himself thought so highly of this company and its future that he visited this Bay Area factory last year. So, it shouldn’t be surprising that the business visited by the man with the reverse Midas touch just announced that 1,100 workers will be laid off immediately and it is expected to file for bankruptcy.
In his zeal to promote job creation, this president pumped $2 billion into an offshore oil drilling operation that promises to create a secure energy future — in Brazil. While in the U.S., the same president is blocking offshore oil drilling that would create hundreds of thousands of American jobs, and in reaction to the Gulf oil spill has driven job creators out of business. After all, it’s not easy being green.
Of course, Obama’s taxpayer funded venture capitalist misadventures are not solely responsible for his getting the first zero on a monthly job creation scorecard since Harry Truman was reincorporating hundreds of thousands of troops coming home from the Big One.
His Administration partners in crime have jumped into the job destruction game with an almost unparalleled zeal.
EPA Administrator Lisa Jackson has been at the forefront in the Obama quest for zero. Her agency has promised new air quality regulations that are estimated to eliminate 1.4 million jobs by 2020, while just one regulation in her war on coal is projected to eliminate 800,000 jobs. Of course, Jackson is not content to just use her agency’s new found authority to push a radical anti-job agenda using the Clean Air Act, as she is also using the Clean Water Act to put mining and other resource industries under the gun.
While Jackson has been incredibly effective at stifling our nation’s job creation to zero, Treasury Secretary Timothy Geithner’s continuous calls for higher taxes on job creators cannot be ignored as a factor in the Obama zero strategy.
Of course, you can’t get to zero without an active Labor Department, and Labor Secretary Hilda Solis has been a vigorous conspirator in the fight. Her focus on bringing employers to heel through OSHA and Wage and Hour regulators, who sometimes seem to have been turned into proxy union organizers, has certainly created the business climate necessary for the Obama success story.
The Obama labor team of course includes his National Labor Relations Board appointees who have received notoriety for their decision to battle Boeing Corporation because they had the audacity to try to create new jobs in South Carolina.
But you cannot really have the perfect storm unless you threaten the bottom line of every company in the nation by “reforming” health care and increasing their per employee costs substantially. Nothing quite stimulates hiring new people like the specter of facing a major per employee cost increase in the near future, and O’s continued aggressive regulatory pursuit of this major bureaucratic boondoggle is the coup de grace that ensured his achieving his zero.
It takes a lot to achieve something that not even Jimmy Carter dreamed of, and the entire Obama team deserves full credit for what they have done.
Unfortunately, this attainment hasn’t been fully appreciated within the Administration as the President himself offered a curt no comment on the August employment numbers while he raced to catch Marine One for a quick trip to his weekend retreat at Camp David. Of course, no one can blame him for needing a rest, after all, he had been back on the job from his Martha’s Vineyard vacation for a full four days.
Having created these changes that no one had hoped for it is not hard to understand why O is becoming known by the new superhero name, President Zero.
Rick Manning is the Director of Communications of Americans for Limited Government. You can follow Rick on Twitter at @RManning957.