I’ve been touting insufficient aggregate demand as the primary cause of America’s high unemployment rate, but it’s possible that Evan Bayh is single-handedly responsible for the situation:
Former Indiana Senator Evan Bayh will now serve on the board of directors of Fifth/ Third Bancorp. The new job adds to the list of responsibilities that Bayh has taken on since leaving the Senate, including positions as a Fox News contributor and a job with the United States Chamber of Commerce.
They forgot that he’s also holding down a third job as a lobbyist and a forth job with Apollo Capital Management as a private equity rainmaker. That’s a lot of jobs for one man, especially since in a few years he’ll be eligible to double-dip on pensions as a former governor of Indiana and a former senator.