2008 record      


Everyone agrees the American job picture is a disaster. The latest unemployment figures stretch from the official 9.5% to the Labor Department's U-6 figure of 16.5% to a sickening 22%, according to TechnoMetrica Market Intelligence. Politicians and pundits debate the reasons. You're familiar with the arguments:

--Those on the right look at the $1.8 trillion in cash reserves held by U.S. companies and conclude that business has gone on a capital strike. Business is refusing to invest aggressively in the future--including hiring more people--in an atmosphere of rising taxes and regulation, not to mention rhetorical attacks on business by President Obama.

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