Walter Williams explains why saving jobs isn't good economic policy.
Losing a job means a financial crunch and readjustment regardless of the source of job loss. If it's not from an economic downturn, the loss might be a result of outsourcing, but much more likely, it's a result of technological innovation. Job destruction and job creation through natural market forces are enriching. Calling for Congress to save or create jobs is to court disaster.
This is an emotional issue to those that lose their jobs, and an economic issue to everyone else. While I agree with Williams, I can't help but wonder what the political ramifications will be as knowledge workers start to get replaced too.