In a perspective today on the record level of job losses, an IBD editorial asks, “Will it ever occur to our leaders in Washington that what they’re doing isn’t working – and may actually be damaging our economy?”

It’s a rhetorical question, of course, as it goes on to describe, “The spectacular failure of the so-called fiscal stimulus to stimulate anything other than economic misery.” It’s misery driven by the concern that we’re on “a slow-growth path that will lead to permanently high joblessness, weaker income growth and fewer opportunities.”

Why are we potentially facing a future of permanently fewer jobs? The problem and solution can both be found in American entrepreneurship. Entrepreneurs are critical job creators and right now they have many reasons to be fearful about their ability to find an upside in the current economic climate. The government is meddling deeply in how the private sector functions. This means that the upside of starting a new, successful company is now much less clear that it’s been in the past. Even if an entrepreneur starts a home-