John Bolton

John Bolton

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Tuesday, June 14, 2011

Obama's War on Jobs

Give Obama "Credit" for job killing regulatory burden and failed economic policies!

From House Speaker John Boehnr's blog:
President Obama “cracked wise” about his failed “stimulus” spending bill yesterday and told supporters in Florida he deserves credit for our sluggish economic recovery, according to the Washington Times. Credit? President Obama wants “credit” for…
  • …9.1% Unemployment? The “unemployment rate rose to 9.1 percent” in May according to UPI and has averaged 9.5% since the president’s “stimulus” was enacted (far above what the Administration promised).
  • …A “Double-Dip” in Housing Prices? CNBC reported that “home prices are back to their mid-2002 levels” as single-family home prices dipped “below their 2009 low.”
  • Plunging Economic Confidence? The latest Gallup survey shows “two out of three Americans say …the U.S. economy is ‘getting worse’ -- approaching the high for the year.”
  • Falling Retail Sales? Associated Press reports that “[s]ales among U.S. retailers fell 0.2 percent last month … the latest report signaling the economy has lost momentum.”
  • The Worst Economic Growth Since the Great Depression? “[R]eal annual growth in GDP has been just 1.5 percent” on President Obama’s watch – the worst since the Great Depression, according to The Weekly Standard.
This isn’t the first time the president has sought credit for our faltering economy. Almost one year ago, the White House launched “Recovery Summer” to celebrate the failed “stimulus” – a PR stunt that went bust as the Democratic onslaught of spending, taxing, and regulating left the economy staggering.

Is it any wonder even Democrats are worried the president sounds “tone deaf – economically and politically?” Or that a majority of the American people disapprove of his handling of the economy?

Republicans are focused on jobs. The Republican Plan for America’s Job Creators is a blueprint for job creation that builds on the Pledge to America to eliminate the threat of tax hikes, pay down our debt, and rein in the mountains of red tape created by unelected bureaucrats. Learn more about it here.
Obama's Job Killing Bureaucracy

Want to know why it's so difficult to create new jobs? Former head of the Congressional Budget Office, Douglas Holtz-Eakin put together this short 44 second video:

Now of course not every business is subject to every  federal regulation but as a businessman you darn well better make sure which of this mountain of red tape and rules applies to you OR ELSE!

One example of how regulatory agencies are killing jobs comes from my former employer, the U.S. Environmental Protection Agency. Failing to get a carbon limit bill through congress the political activists who run EPA are now twisting the Clean Air Act to do the job for them and it's killing jobs. The Wall Street Journal has a piece titled: "The EPA's War on Jobs " in which the threat of elemental mercury from coal fired power plants is vastly overstated to the point where even career bureaucrats were alarmed.

The bottom line, is that the activism behind Obama's regulatory policies will cost 50,000 to 200,000 jobs and force the closure of many coal plants. In addition to that, electricity rates for all Americans would, in the phrase used by then candidate Obama, "necessarily skyrocket."

Whether it's Obama's failed stimulus or economic policies, his regulatory assault on job creators or sheer economic incompetence from a team with almost NO business experience, the result has been a crippling and extended recession; the worst since the Great Depression. And you can't blame George Bush for that! Obama should get the credit for the failure his policies have created!

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