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Investors.com
We Need A
Startup President Who Knows How Jobs Are Created
09/21/2012
Economy: How can the next presidential get the American job machine
functioning again? One way is establish a policy environment that
incentivizes business startups, which have fallen hard under the
current administration.
President Obama tells small-business owners they "didn't build" their
companies. But they know better. And they are also aware of the
important role they play in employment.
Small businesses employ about half of all U.S. workers and they create
the majority — by some estimates 80% or more — of the new jobs.
Rather than trying to convince entrepreneurs they're not responsible
for their own success, Obama should be telling them how much he's done
to make it easier to launch new companies.
But he can't. Consequently, just like businesses sitting on cash and
refusing to hire due to the uncertainties spread by this White House,
entrepreneurs have been sitting out the recovery that began only months
after Obama took office.
"The state of entrepreneurship in the United States," laments economist
Tim Kane, "is, sadly, weaker than ever."
In a paper for the Hudson Institute, Kane cites a Bureau of Labor
Statistics journal that says, "New establishments are not being formed
at the same levels seen before the economic downturn began, and the
number is much lower than it was during the 2001 recession."
Using Census Bureau data, Kane determined that startup jobs per 1,000
Americans were steady under both Bush presidencies and that of Bill
Clinton — averaging about 11.1. The range was from 11.3 under the first
President Bush to 10.8 under the second. The rate during the Clinton
years was in between at 11.2…
Read the rest of this article at Investors.com
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