Friday, October 9, 2009

The Obama Recession

"As job losses climb, President Obama faces two related questions. The first is more like a riddle: How do you pass a new round of stimulus measures without tacitly admitting that the first round didn't work? (Answer: Don't call it a stimulus.) The second is harder: When does the economy become his own instead of his predecessor's? (Answer: sooner than he'd probably like.)"

Read it all here:

I say: cut business taxes, cut the capital gains rate, provide business incentives to hire and, most importantly of all: stop trying to overhaul healthcare, and stop adding new regulatory burdens and increasing taxes. I believe that Obama knows precisely what he's doing and none of it is actually designed to fix the economy. His policies are contributing directly to an environment that is stifling small businesses from creating new jobs.

This administration has given no thought to creating jobs. As one political pundit has said over and over again, it's a lot easier for government to provide assistance to those who have lost their jobs than to create an environment that causes businesses to hire. But that is PRECISELY this government's role during this recession. But the administration is actually adding burdens to an unstable economy at exactly the wrong time (and we wonder why unemployment keeps going up). Raise taxes during a recession? Add heavy new regulations? Have they never taken a basic economics course?

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