Kudlow on the bad jobs report

Larry Kudlow, one of the leading supply side economists - "A catastrophic jobs report ..."

The Keynesian government-spending model has proven a complete failure. It’s the Obama model. And it has produced such an anemic recovery that frankly, at 2 percent growth, we’re back on the front end of a potential recession. If anything goes wrong — like another blow-up in Europe — there’s no safety margin to stop a new recession.

Barack Obama doesn’t get this, but businesses create jobs. And firms have to be profitable in order to hire. Yet the president is on the campaign trail criticizing Mitt Romney by degrading the importance of profits. Huh?

Without profits businesses can’t expand. And if they don’t expand, they can’t hire. And if they don’t have profitable rates of return, they’re not going to attract new capital for investment.

It's all so basic, isn't it? But when your political philosophy is Big Government Knows Best ... you get the current mess.