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  • Obama’s Vigorous Anti-Jobs Campaign

    The Obama Administration is visibly perplexed by the failure of the U.S. economy to be duly stimulated. It shouldn’t be. After frittering away political capital and taxpayer dollars on an ineffectual fiscal stimulus, Obama’s policies share the singular characteristic of draining the economy of the most important ingredient needed for a strong recovery – confidence.

    Nowhere is this made clearer than in an Environmental Protection Agency (EPA) “endangerment” ruling on Monday. This ruling gives the EPA broad authority to impose a massive new regulatory regime on such businesses as electric utilities and transmission and on the broader industrial sector that emits carbon dioxide and five other greenhouse gases.

    Add the uncertainty associated with this ruling to the mountain of Obama’s Washington-based uncertainties about tax policy, health care policy, and cap and trade, and add in the dangers of persistent, wildly unsustainable deficit spending and businesses have every reason to be doubtful of the future and leery of taking risks on new investments.

    Neither consumer spending nor government spending can trigger a strong recovery. Only a resumption of strong, sustained business investment can bring about the kind of recovery needed to create the jobs that will bring the unemployment rate down. Businesses invest today to prepare for the future, for the opportunities and competitive pressures of tomorrow. They more confident they are in the future and Washington’s attitude toward growth, the more businesses are willing to take the risks associated with new investment.

    Uncertainty about the future is always a factor when businesses invest. However, when government policies ramp up uncertainty, then government is actively ramping down current investment. When government policies threaten to increase regulations, increase taxes, and generally diminish the prospects for future prosperity, businesses have little choice but to hunker down and hope to survive a hostile government.

    We can be confident in one point, however. Whatever growth and jobs the economy manages to create in the next few years, they will arise despite a vigorous campaign from Washington to the contrary.

    Posted in Energy [slideshow_deploy]

    2 Responses to Obama’s Vigorous Anti-Jobs Campaign

    1. Larry D, Warren Oh says:

      I agree 100%. This administration has done nothing to promote job creation or economic recovery. Their current actions are not business friendly by any means. It should be painfully obvious to all that this adminstration is all about creating a government-dependent state. Disposable income gives us our freedom and they are doing everything possible to make sure we have none.

    2. Freedom of Speech, T says:

      CONFIDENCE is everything in investing, in purchasing, and especially in business.

      What tangible thing has this administration done to booster confidence in the private business sector?

      Unlike government that can demand and accrue seemingly unlimited money through taxation, borrowing, and printing, business HAS to plan – preferably 5 years with adjustments along the way.

      How can any business entity PLAN or ADJUST in this political climate? They can't.

      You can't blame Bush for this one.

      Do any of the economic advisors understand this? If they do they are not showing it.

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