During the meeting President Obama demanded businesses and banks who he claims benefited from “extraordinary measures” to “rescue”, to spend massive amounts of money to hire new employees.
Translation: I bailed you out, bail me out from the poor polling data.
One might believe the semi-populist rant might provide a momentary wince during an other wise productive forum on the economy and possible solutions to move the country forward.
During the session President Obama continued to misdiagnose the causes of our economic woes and suggest solutions which provide only a fig-leaf of coverage to more government take over.
In each solution presented President Obama failed to understand basic market forces of supply and demand. Understanding of how and why any business invests in any job is thrown by the way side to make way for finger pointing rhetoric with no substance.
Months ago I wrote that businesses need revenue streams, not loans. Similarly before any business would dare to spend money and invest in hiring a person as an asset, there must be stable demand presenting a need. Without stable demand hiring more people is unwise expenditure.
Whats more, had Democrats not passed Obamacare and “financial reform” packages, businesses might be hiring more than they are.
It is as a direct result of new regulations, weak dollar caused by deficit spending, taxes and other additional expenses combined with low demand which is preventing businesses from hiring. Money which could be spent on new employees is being shipped off to Washington, or in some cases, completely gone as businesses shut down completely.
If President Obama is serious about creating jobs he must unleash American’s greatest asset: her people and their ingenuity. The President must become an advocate for this nation and its competitiveness, not a community organizer against its very foundation.
In the absence of real leadership who has faith in our Republic, the GOP and grassroots conservatives must take the opportunity and push real pro-growth policies. When the shackles are broken and the basic foundation of free enterprise is secured then, and only then will we see substantial growth.