Posted by Craig Battaglino on Wednesday, October 20, 2010,
Anger: It's the defining political emotion of this campaign season. It's boiling across the country, much of it directed at President Obama and the congressional Democrats over the way they have handled the economy. Not far behind is dissatisfaction.
The combination, detected in a new ABC News/Yahoo! News poll, spells trouble for Democrats three weeks out from the election. Angry people, analysts say, go out and vote. Dissatisfied people tend to stay home.
The Obama administration has failed to recognize the complexities of the problems facing the labor market. Lack of job creation is not just a function of small business borrowing, or lack thereof. The more pervasive issues that are preventing hiring are: costs of labor that employers are unwilling to pay given the current economic situation and weak consumer demand.
The inability of small businesses to obtain lending is affecting job creation, but to a lesser ex...