Why the Economy Isn’t Recovering

The Wall Street Journal summarizes Washington’s generous contributions to the problem:  The Keystone XL oil pipeline could create more than a hundred thousand jobs, and an environmental review says it poses no threat to the environment, but the administration has held it up for three years anyway.  Administrative agencies generated 81,405 pages’ worth of new regulations last year, “bringing the total cost to the U.S. economy of regulatory compliance to an estimated $1.7 trillion a year.”  And so on.  

Less easy to quantify, but no less harmful, are the long-term uncertainties employers face . . . .  No wonder businesses are so reluctant to hire: When you don’t know how steep the trail ahead of you is, it’s usually better to travel light.

Read the whole thing.

Hat tip to Wintery Knight.