Pres. Obama “Taxer-in-Chief”
This morning, President Obama held a press conference to address the very dismal jobs report. Only 18,000 jobs were created in June, much less than half of what was created in May, and more than 100,000 below consensus expectations. The President also demonstrated his keen ability to be completely oblivious to what the real problems in America are.
“We’ve always known that we’d have ups and downs on our way back from this recession. And over the past few months, the economy has experienced some tough headwinds”
There are always going to be mitigating factors like this, constantly blaming them as a reason for his failed policies is getting old. As IHS Global Insights noted, “Supply-chain disruptions and bad weather are unconvincing as explanations for the extent of the weakness.”
“from natural disasters, to spikes in gas prices, to state and local budget cuts that have cost tens of thousands of cops and firefighters and teachers their jobs.”
When the government forces new rules and regulations onto businesses and states, it acts like an unfunded mandate, forcing states and businesses to allocate scarce resources where the feds tell them to spend it , which means other areas get cut. Take Obamacare, with so many burdens put on businesses and states, they will have to divert their revenue towards paying for the law’s costly requirements, which means less money for other things.
“The problems in Greece and in Europe, along with uncertainty over whether the debt limit here in the United States will be raised, have also made businesses hesitant to invest more aggressively.”
Is that what he thinks is causing businesses to sit on their money? How about the fact that the President keeps talking about raising their taxes and piling on new regulations? Maybe the fact that they don’t know how much of their money is going to be confiscated by the government is causing them to rethink investing it? Maybe?
Considering he is upside down in the polls, it seems like people are getting tired of the excuses and lack of results.