Though you wouldn’t necessarily know it based on news coverage, the United States in the reign of President Obama is enduring the most prolonged period of slow growth and high unemployment since World War II. The president asserts that he saved us from another Great Depression, which, like his claim that the stimulus would “create or save” millions of jobs, is about as provable as the number of angels that can dance on the head of a pin.

The Obama administration has done little to spur job creation, but a great deal to inhibit it. The president mocks the idea of deregulation (“cut two regulations and call me in the morning”), but the new layers of rules and directives his administration has layered over the already-existing sedimentary encrustations cannot have helped.