Obama Spending Drive Will Suffocate Job Growth: Amity Shlaes

Private-sector jobs will be created. That’s the argument President Barack Obama will present tonight in his State of the Union address to justify his plan for any federal spending increases.

The president will pay lip service to the idea that the era of throwing cash at the economy is over. Yet either because strapped state governors and unions are pressuring him or because he believes it, Obama is likely to insist that domestic outlays are investments, not waste.