Smoot and Hawley ginned up The Tariff Act of 1930 to get America back to work after the Stock Market Crash of '29. Instead, it destroyed trade so effectively that by 1932, American exports to Europe were just a third of what they had been in 1929. World trade fell two-thirds as other nations retaliated. Jobs evaporated.
Never far from my thoughts are memories of being a little girl in Queens, N.Y., our family of five crowded in a small one-bedroom apartment, struggling to learn English and survive a new life in a new country, America. We humbly and gratefully still recall the kindnesses shown by strangers and neighbors who became new friends.
European-style interventions to which the Obama administration is inclined will not make America more competitive in the world-wide economy. Such policies will not increase growth, will not decrease unemployment, and will not increase wages for workers.
It has long been said the only things in life that are certain are death and taxes. Automatic enrollment for insurance of 401k loans would add an additional certainty. Fewer Americans would suffer the unnecessary loss of retirement savings due to unanticipated and untimely misfortune in an already stressful time of need.
Even when America's economy has been by all measures healthy and the unemployment rate low, some businesses suffer or fail and lay off workers. But nearly always, a simultaneous and even greater burst of new jobs has been created to offset the jobs lost - millions of new jobs every year.
My husband has an outstanding record in promoting opportunity for women and the women that he surrounds himself in his staff and the women that he has promoted throughout his career. He's the father of three daughters. He's obviously a husband who's been very supportive of a very active wife with her own career.
To foster entrepreneurship, expansion and job creation, more leaders at all levels of government have to demonstrate some understanding of what it takes to build and grow businesses in the private sector.