Hans Bader has a good piece here on the manifold ways in which the policies the Obama administration is pursuing inhibit job creation. In fact, they tend to do the opposite.
The Leviathan state (whether you’re talking about France under Louis XIV, Russia under the Romanoffs, Argentina under Peron, Britain under the Labour Party, or the US today) always depresses entrepreneurial incentives, encourages lobbying, and squanders resources on whatever follies the rulers happen to favor.