I came across an article by John Stossel on Reason.com. I have always liked most of what John Stossel advocates. When he was at ABC, he was clearly a wonderful stand-up guy in a news organization that was very biased. At Fox, he is outstanding. A great voice of reason.
Speaking of reason, he makes the ultimate point on Obama and the private sector. This came out before Obama’s window into his blindness to the private sector that was revealed Obama’s news conference where he declared the private sector to be doing just fine.
Here is that reason:
Stossel: Obama should ask himself: “Would I start or expand a business without knowing what regulations or taxes government will impose next year?”
That is what Obama will NEVER get. Companies right now are watching this election. If they see Obama coming out on top, they are not going to take the risks. They have to budget for obscene taxes and an immediate risk of financial collapse in financial sectors of our economy. If they see Romney coming out on top, they will begin to take some risks. Likely, nobody will see the economy change strongly for the better until after the November election is history, and this only if Obama loses to a President Elect Romney.
More from Stossel in the article:
How will the problem be dealt with? Higher taxes? Massive inflation? Some combination? Where does that leave someone today who might, in a more stable policy environment, be eager to launch some big, long-term investment project?
In the dark, that’s where.
Economist John B. Taylor of the Hoover Institution summed it up aptly: “Unpredictable economic policy — massive fiscal ‘stimulus’ and ballooning debt, the Federal Reserve’s quantitative easing with multiyear near-zero interest rates, and regulatory uncertainty due to Obamacare and the Dodd-Frank financial reforms — is the main cause of persistent high unemployment and our feeble recovery.”
The full article by John Stossel is a must read. Read it here: