Looking beyond the debt-limit shenanigans preoccupying Washington, the big issue for the U.S. economy is long-term unemployment and what to do about it.
Simply put, the government’s role is to create an environment for job creation. The private sector does the rest.
The very act of asking what government can do creates the illusion that there is some secret formula for putting the 14 million unemployed Americans back to work. We know the diagnosis; all we need is the right jobs doctor to prescribe the appropriate cure.
Get out of the way, which is what Ayn Rand’s hero, John Galt, tells the desperate bureaucrats in “Atlas Shrugged” as they struggle to find someone with a plan to avert a national economic collapse.