A lot has been written about the massive difference between the employer survey and the household survey regarding job creation; the two measures are almost 2 million jobs off. I deal a lot with new start companies, and it is obvious that these kinds of ventures are where the growth originates, and also obvious that the alleged entrepreneurial investors aren't. If there is one thing noticeably missing from the current economic outlook it is Risk Capital.

Investors BUsiness Daily explains why, for those who can't figure this out:
http://www.investors.com/editorial/issues.asp?v=3/8

The new firms hire and take risks to grow. What the old firms do is buy small young ones and then cut payroll.