Yesterday while visiting a North Carolina company which has received millions of “stimulus” dollars (while having major operations in China), Barack Obama announced a plan “to train 10,000 new American engineers.”
While it’s true that America is lagging in training of scientists and engineers (and in allowing foreigners who study here to stay here to work), focusing on adding supply of labor into a stagnant job market is like putting a constipated person on a low-fiber diet. It’s no way to get things moving.
If entrepreneurs weren’t so uncertain about what tax or regulation they’ll be hit with next by the Obama Administration — and particularly if they’re in easily demonized industries, which is to say industries which actually produce the things Americans most need, whether oil, medicine, or banking services — they would be hiring.
If businesses were hiring, those businesses and individuals who would like to work for them would help create the appropriate work force, whether that means training more engineers, pilots, nurses, or dog catchers.
As usual, Barack Obama’s economic prescriptions betray an utter lack of understanding of business, free markets, and of America itself.
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