Shocker. Employers Say Dem's Policies Are Hostile to Job Growth
Posted by Jim Hoft on Thursday, June 24, 2010, 5:59 AM
It’s no secret that Barack Obama is the worst president in history on job creation and worse than Herbert Hoover on job losses.
(Misery Index data)
Since his election in 2008, the US economy has shed 4.4 million jobs. That’s worse than Herbert Hoover.
Yesterday, Ways & Means Committee Republican Ranking Member, Dave Camp released this statement yesterday on the Democrats hostile policies to job growth and economic recovery.
As the Washington Post today reported, the chairman of the Business Roundtable “accused the president and Democratic lawmakers Tuesday of creating an ‘increasingly hostile environment for investment and job creation.’”
In a letter from the Business Roundtable and The Business Council to Office of Management and Budget Director Peter Orszag, these business leaders stated that policies pursued by President Obama and Congressional Democrats are “squelching economic growth and job creation.” The Business Roundtable represents American companies with over 12 million employees and that comprise nearly a third of the total value of the U.S. stock markets. The Business Council represents American businesses from a wide range of industrial and service sectors such as Ford Motors, US Steel and Caterpillar.
Below are just a few excerpts from the letter and the 41-page accompanying report that details current Democrat “Policy Burdens Inhibiting Economic Growth.”
The Big Picture:
“Many regulations and legislation – both existing and proposed – exacerbate the uncertainty created by today’s volatile economic environment….With a massive new health care law and financial reform legislation looming, companies are more worried than ever about the impact new regulations and legislation will have on their operations and their bottom line. Not knowing what to expect from these pending regulations, businesses are acting cautiously to forestall any negative impact. These actions are squelching economic growth and job creation, as companies are forced to freeze investments and hiring until they understand how they will be affected by these new mandates.” (p. 1)
Democrats’ Spending Is Too High and Harms Economic Recovery and Growth:
“The current levels of U.S. debt, as well as those required to finance the forecast deficits, will crowd out private capital. If less capital is available for corporate borrowers, it will retard future growth and investment, erode the value of the U.S. dollar, accelerate inflation and, eventually, reduce consumer spending power. Economic recovery must be lead by the private sector, both large and small, if we are going to create jobs and reduce the unemployment rate.” (p. 4)
Democrats’ Proposed Tax Increases on U.S. Employers Will Hinder Job Creation, Decrease Competitiveness:
“The Administration and Congress have proposed a number of policies relating to the taxation of foreign earnings that will harm the ability of global American companies to create and retain U.S. jobs….The international tax increases proposed by the Administration – as well as those contained in the current tax extenders bill (H.R. 4213) – would make sweeping changes to U.S. tax law that would make U.S. companies even less competitive in foreign markets and reduce the potential for job growth at home.” (p. 1-2)
“The Administration has proposed a number of regulations that threaten to dramatically undermine the ability of U.S. global companies to compete in the global marketplace – and this is worrisome. The Administration’s approach to domestic and international tax policy needs to pivot and recognize that U.S.‐based multinational companies must compete in a global economy to ensure domestic jobs and economic growth.” (p. 17)
Democrats’ Health Care Bill Will Increase Costs and Harm Employers’ Ability to Hire:
“[The Democrats’ health care overhaul] does little to change the underlying problems of our delivery system, which are the primary drivers of the unsustainable cost trends of employer provided care. Therefore, the ongoing cost increases in the system will continue to shift to the private market, putting additional cost burden on employers and other healthcare consumers….In addition, uncertainties associated with the law’s implications have already likely delayed business decisions regarding expansions and dampened new hiring. …The potential for detrimental unintended consequences on the nation’s economy and workers is very high.” (p. 20)
“The new tax [on private health insurance] will divert resources away from investment in new technology, process and jobs, and will significantly raise costs.” (p.21)
Democrats’ Failure to Sign Pending Trade Agreements Is Costing American Jobs:
“The Administration’s failure to move forward on pending free trade agreements and a more expansive presidential trade negotiating authority has emboldened foreign competitors while hurting our economy, global competitiveness and job creation. The Administration should swiftly resolve any outstanding issues and move forward with the implementation of free trade agreements with Colombia, Panama and South Korea, and must also seek a new presidential trade negotiation authority.” (p. 2)
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Featured Story:
Busted!… Obama Headlined a DEMOCRAT SOCIALISTS OF AMERICA Event in 1996 **FLIER**
Published May 24, 2012 at 8:46 pm - 89 Comments
Granny commented:
No surprises here. The focus of this administration is not improving America, it is destroying America economically & environmentally.
CLN commented:
And soon life will be so bad that Obama will nationalize corporate and individual assets. The media is complicit
Steve commented:
THANK YOU FOR POSTING THIS GP!!
I used it (with a big Hat Tip) on today’s “Thursday Reads” post on Common Cents…
http://www.commoncts.blogspot.com
Andy commented:
Where does all this venom come from? Obama wants to destroy America. Obama is a Socialist (or a Communist or the Antichrist). Obama isn’t an American citizen. Obama likes destroying jobs. And on and on.
Did the American public vote him into office to destroy the country? Really? Were the Republicans so great that they won elections in 2006 and 2008?
The blame game should be played fairly. Let’s just ignore the fact that the economy was in free fall under Bush (job losses of over 500,000 in some months) and give Obama 100% of the blame for the recession.
If that is how the game is played, then who gets 100% of the blame for the 9/11 attacks? Bush and his conservative administration. Who gets 100% of the blame for the Afghanistan and Iraq catastrophes (which is what they were when Bush left office)? Bush. Who gets 100% of the blame for $5 trillion in deficit spending under the Bush administration? Bush. How about sleaze like Jack Abramoff? Bush.
See how that wacky game works? It can go on forever. Blaming politicians for anything is almost pointless. Both liberals and conservatives failed. This emotional politics is fun and all, but it distracts from the real issue. The real issue here is that neither hard core Democrats nor Republicans are capable of effective government any more. They are out of ideas, corrupted by special interest money, slaves to failed ideology and, for the most part, self-serving.
The only thing that calling up hate and venom does is to distract the public from the fact that politics as usual by both parties failed. The question is how to rectify the situation. All I can think of is to vote incumbents out of office, particularly my own local incumbents because I cannot vote against anyone else.
There will be a Presidential election in 2012. If you don’t like
Obama, vote him out of office. But in the meantime, he is the President whether you like it or not. Don’t forget, the whole and only reason Obama is in power is because a majority of voters were dissatisfied with Bush and wanted to slap the Republicans down for their arrogance, corruption and failures.
Do you really think those dissatisfied voters wanted to put someone in office who is bent on destroying the country, coddling terrorists, killing jobs, taking over 100% of the economy, etc? Is that what people voted for in 2008? Really?
If that is what you think, then maybe some quiet introspection is in order.
At the moment, America is in some real trouble. Neither side in this mess has anything to be smug about because both failed. What would be helpful is cold hard looks at reality and proposals intended to fix problems as efficiently as possible. With hard core liberals and conservatives, that is impossible because reality does not fit their ideology. So, they play the blame game and distract from their own failures.
jorgen commented:
5.21% in the “Clinton years”??? Well, only due to the Republican Congress.
averagemelon commented:
Andy,
Your logic is seriously flawed.
Is America great? Did this nation of people feed, clothe, and give technology to the entire world? Yes. It’s the AMERICAN PEOPLE who did that. Governments either help us or hinder us. No president is perfect, but Obama is definitely hindering. He was voted in by the majority because he was black. He had ZIP for his accomplishments/ credentials. Americans wanted change from the Republicans, but NOT THIS change. They wanted to feel special that they helped elect the first black president. Well, elections have consequences.
Capitalism has never failed. It works brilliantly. Our governments don’t. They seek power, power, and more power which forever nibbles away at capitalism and FREEDOM which cannot be seperated.
THE AMERICAN PEOPLE need to decide who we are and elect the very type people who are most like ourselves. Nothing else can be substituted this coming election.
Sandy commented:
Like duh!! Course it would be too simple for the Dems to just lower taxes on Employers so they could expand their businesses and hire more people. But where’s the punishment in that? No No No people who are struggling just to get by must pay for those below the poverty line because its only fair.
Fire the Dems in November — its the only way there will be jobs for the rest of us.
Neo commented:
How unexpected … NOT
Neo commented:
Out of the “fog of politics” reality sets in ?
Sandy commented:
averagemelon — You forget one thing — the media sold Obama to the voters 24/7. Hillary was trashed because of her laugh and McCain was totally ignored by a media he courted for years.
Why would the media sell its soul and its ratings to put this guy in the White House? Maybe someday we’ll find out who was really behind all this?
Finncrisp commented:
CASA GRANDE, Ariz. – Fannie Mae and Freddie Mac took over a foreclosed home roughly every 90 seconds during the first three months of this year. They owned 163,828 houses at the end of March(2010), a virtual city with more houses than Seattle. The mortgage finance companies, created by Congress to help Americans buy, have become two of the nation’s largest landlords.
For all the focus on the historic federal rescue of the banking industry, it is the government’s decision to seize Fannie Mae and Freddie Mac in September 2008 that is likely to cost taxpayers the most money. So far the tab stands at $145.9 billion, and it grows with every foreclosure of a three-bedroom home with a two-car garage one hour from Phoenix. The Congressional Budget Office predicts that the final bill could reach $389 billion.
Yeah, I know Bush was in office,but that was then and this is now. No congressional oversight, asleep at the wheel, F & F will increase our taxpayer misery by leaps and bounds in the coming years.
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