I hear all about this candidate's Jobs Program and that party's Jobs Program, and I think they are all full of crap. The best thing our government could do to encourage job growth is to prove to business owners that they are not on dope and have some kind of handle on the federal budget.
I talk to business owners every day and most of them are doing OK. Not great, but OK. Most of them are convinced that the government is out of control, though, and that they are the ones who will be targeted to fund the runaway spending. In that environment, who in their right mind would invest in new facilities, new equipment or new employees?
A long-term plan to bring federal spending under control would do wonders for both consumer and business confidence. Even tax reform that cost them money in the form of lost loopholes and deductions wouldn't deter them if the new structure made sense and if there was some confidence that it was relatively permanent and could be used to forecast future tax consequences of different investments in people and equipment.
So, my advice to the Super Committee, with apologies to Nike's ad agency, is this: Just Do It! Come up with a plan that puts us on the path to long-term sustainability and don't worry about the short-term consequences.
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