Eleven days from today will mark the one-year anniversary of the day The One strode to the podium atop the steps of the US Capitol and took the Oath of Office which made him the 44th President of the United States. Contained within his first (of many) presidential addresses was this snippet:

For everywhere we look, there is work to be done. The state of our economy calls for action, bold and swift. And we will act, not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together.

As the last employment numbers of 2009 were today made available for public dissection, let’s take a look and see how The One has done.

Jobs lost in 2009 – 4.2 million
Average unemployment rate: 9.3%
Number of Americans unemployed: 15.3 million

Number of days Team Obama has laid the blame for this economic travesty at the feet of W: 354 and counting.

Team Obama put its collective faith in Plan Porkulus to rescue the American economy from all but certain collapse. We were told that millions of jobs would be created by public investment in “shovel ready” projects. Then Team Obama hedged their bet (with our borrowed money) and in the fine tradition of Beltway bandits “revised and extended “ their remarks couching their job creation promises in the murky and hitherto unknown definition of “save or create”.

The Team Obama economic team is busy trying to spin the latest unemployment numbers as a sign of economic improvement. They say this despite the fact that November’s job losses were around 11,000 when compared with December’s number of 85,000. I’m sure Team Obama is spending a lot of time and tax payer money trying to figure out what they can do to make up for the glaring fact that Obama’s sorry excuse for an Administration has yet to be responsible for creating a single job.

I say that, dear reader, for the simple fact that I can add. In order to have created one net new job in 2009, the American economy would have had to create at least 4,200,001 jobs. It hasn’t. Obama blames W. Frankly, that isn’t going to stick for much longer.

In order for job creation to take place, businesses (not the government) must feel somewhat comfortable in taking the risks that are inherent in the process of expansion. This means they must believe (not hope) in the possibility that expanding their workforce will result in something constantly decried and pummeled by Team Obama. What is that motive that propels job creation by the private sector? One word, dear reader: Profit.

Profit is a foreign concept to Team Obama. When asked what would promote job creation by the private sector, Team Obama Labor Secretary Hilda Solis remarked that “the economy is in a rough situation” and companies are reluctant to ramp up hiring because they’re waiting to see what new stimulative steps the government might take to provide relief.

So, what kind of stimulative steps do businesses see the government willing to take? Well, there’s the promise to “spread the wealth”. Then we have the promise to kneecap economic growth with the Cap and Tax and Tax and Tax and Tax bill. Add to that the promise to tax the hell out of businesses. Oh, and don’t forget that The One himself has derided those businesses which have thus far survived the economic disaster of 2009 by doing what it takes to remain somewhat profitable. They’re run by stingy Scrooges who “squeeze more productivity out of fewer workers”.

And then there’s also the promise of a government takeover of the nation’s health care system. This is of course a good idea because Team Obama has done such a bang up job with everything else thus far.

Prior to taking office, The One had never been responsible for anything of value or importance. He had never taken a business risk that resulted in a single job being created. In fact, it can be argued that prior to sitting in the Oval Office’s Big Chair, he had never even held a real job. What he did was give awe inspiring speeches infused with a deity-like reverb which, to paraphrase The Bard, were full of sound and fury. In the first year, however, said works of rhetorical wonder ended up signifying much less than nothing.

At the risk of parroting an oft quoted disclaimer found in nearly every company’s annual report, past performance is not necessarily an indicator of future results. With The One, however, I believe contrary will be proven.

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