Ed Morrissey on what Ben Bernanke said at the Federal Reserve’s annual conference, held this year in Jackson Hole, Wyoming (emphasis is mine):
We need to create jobs — lots of jobs, and fast. That would mean reducing regulatory expansion in a meaningful way, especially on energy production.
Bernanke is wrong about one point: Washington isn’t the solution — it’s the problem. When the Obama administration and its reckless expansion of the regulatory regimes it uses to impose its agenda finally retreats, investors will fill the vacuum, and we will create the jobs Bernanke rightly says will boost the economy. Until that happens, we will continue with the stagnation, staggering costs, and lost opportunities that have been the hallmark of Obamanomics since Porkulus.
Which explains why the previous, strongly anti-regulatory, administration has the worst record for job creation since Gerald Ford was President.
But, like Charlie Brown, Ed Morrissey and the right in general will never stop believing that THIS year, the Great Pumpkin will show up.