President Obama is initiating an "Insourcing American Jobs" dialogue with top business leaders. The latter are always looking for tax breaks and special benefits, and this could quickly degenerate into pleas for special treatment, whereas creating the best overall environment for all private investment would best foster growth and jobs.
Huge losses in Washington's equity stake in GM illustrate government financed jobs are too expensive. Fiascos like Solyndra and other ill-fated energy projects prove yet again businesses not bureaucrats have the fine grain information and financial acumen to make the right bets-investments that create new products, advance established industries and multiply jobs, not merely pay politicians' debts to campaign supporters.
Globalization makes abundant U.S. technology, energy and capital, if correctly deployed, much more valuable. China and Germany-so often are cited for their effective manufacturing and technology strategies-ensure their businesses compete in an advantaged environment. The policymaking challenge to Washington is defined by the necessity of leveling the playing field for U.S. businesses.Page 1 of 4 | Next Page