Why America is not creating jobs II.

• Position: Of the News

"According to research funded by the charitable Kauffman Foundation, in 1980-2005 firms less than five years old created 40 million net new jobs--equivalent to 100 percent of the net new jobs created in the entire American private sector. Alas, this magnificent hiring machine is sputtering."

"In 2008 and 2009 there were fewer initial public offerings of firms backed by venture capitalists than in any year since 1985. Medium-sized firms find the regulatory barriers daunting: the proportion of...