The Obama legacy: An economy choking on red tape

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Obama does not get business. He is a product of prep-school and then found his way into Columbia and Harvard. Then he became a “community organizer” in the Saul Alinsky tradition in Chicago. Then he became a politician. He hasn’t spent any time in the world in which most Americans live.

Indeed Obama has been downright hostile to commerce and the private sector since the beginning of his presidency. Remember the “you didn’t build that” nonsense? I mean really, anyone who has worked in the private sector, never mind started a business or made payroll, knew that the president was just woefully off base. To be kind.

Obama could almost be forgiven for the statement if it was understood that he was just trying to score political points. But It appears that the president honestly believed the “you didn’t build that” bit. And that is absurd for an adult. Sorry.

This ignorance of business, commerce, the ebb and flow of the economy, whatever one wants to call it, has colored Obama’s business policy from the outset and as such the economy has been retarded. Obama’s failure on the economy is only second to his failure on the racial front.

(From The Washington Examiner)

Combining Obamacare rules, the Environmental Protection Agency’s power plant rule, water regulations, overtime rules and much more, “small business, for the last eight years, has felt like it’s been under assault,” said Jack Mozloom, communications director for the National Federation of Independent Business.

“The biggest single thing has been the dramatic expansion of regulations,” said Jim Powell, a historian at the libertarian Cato Institute, who has studied the records of presidents. Powell compared Obama’s years to the two other worst periods for business of the modern industrial era: The Great Depression, and the stagflation years of the 1970s.

Click here for the article.

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