Where are the jobs?
The big news in the business world today is that American business had profits of an annualized rate of $1.66 TRILLION between July and September of this year. That is a record. Those are the biggest profits ever recorded by American businesses. And yet these same American businesses are constantly whining that the Obama Administration doesn't love them and that they have created an environment that is hostile to business. Personally, I wouldn't mind a share of that hostility! It was also announced today that the economy grew faster during that same period than was previously reported. The growth rate was 2.5% instead of 2%. That's nothing to shout about, but it is a clear indication that, thanks to government assistance that pulled it out of a deep, deep hole, the economy is moving in the right direction. We've now had five consecutive quarters when the GDP grew. So why hasn't this good news for business translated into more job creation? While some jobs ...