Recent polls show that more than two in three Americans — Republicans, independents and, yes, even Democrats — are dissatisfied with Obama’s handling of the economy.
In an August Gallup poll, a whopping 71 percent said they disapproved of Obama’s actions about the economy, and a September Bloomberg poll put his economic disapproval rating at 67 percent.
While many conditions, such as recessions and technological changes, are beyond the influence of a president, presidents can create conducive or destructive economic climates by their tax policies, economic policy decisions and rhetoric.
History will record that Barack Obama has been one of the most anti-business, anti-job-creation presidents of the past century.
When he’s not telling people to stay away from Las Vegas vacations or bashing companies with corporate jets, he’s burdening businesses with back-breaking health care mandates; planning nearly $1.5 trillion in new taxes for 2013, largely aimed at small businesses; and overseeing an administration that sends numerous federal agents to bully America’s premier guitar manufacturer. Gibson Guitar’s CEO said he was told, “Your problems would go away if you used Madagascar labor instead of our labor.” That’s a great idea — create jobs in Madagascar.
Earlier this summer, businessman Steve Wynn said that the Obama administration has been “the greatest wet blanket to business and progress and job creation in my lifetime.” For the record, Wynn is a Democrat.
When Investors Business Daily asked Home Depot founder Bernie Marcus, “What’s the single biggest impediment to job growth today?” he replied, “The U.S. government.”
John Mariotti is an internationally known business executive. His assessment: “There will be no significant recovery in the United States of America while Barack Obama is president. The evidence is overwhelming: Everything Obama has tried to fuel a recovery has failed.”
These gentlemen are businessmen. They know how to start companies, and they know how to create jobs — and they say one of the nation’s largest economic problems is one man: Barack Obama.
Over the past 15 years, small businesses have created nearly two-thirds of the net new jobs in the U.S. economy. So why aren’t small-business owners
adding new employees? They contend that one of their largest problems is ObamaCare.
A July U.S. Chamber of Commerce survey of small-business owners
found that 33 percent of them said that the ObamaCare health care law was the greatest or second-greatest hurdle to new hiring. In other words, hundreds of thousands of businesses aren’t hiring new employees because of ObamaCare.
The president of the Federal Reserve Bank of Atlanta, Dennis Lockhart, agrees, noting, “We’ve frequently heard strong comments to the effect of ‘My company won’t hire a single additional worker until we know what health insurance costs are going to be.’”
As if the constant threat of new taxes and ObamaCare aren’t enough, the Obama administration has been one of the most regulatory-happy governments on record.
During his first 26 months in office, Obama’s administration imposed 75 new major regulations, with an estimated cost to the private sector exceeding $40 billion. That’s more than any comparable period on record.
Since 1890, the only U.S. president with a worse record than Obama in job creation in his first 2½ years in office, measured in terms of percentage change, according to the National Bureau of Economic Research, was Herbert Hoover, who presided over the emergence of the Great Depression.
The statistics abound. The housing crisis that began in 2006 and has recently entered a double dip is now worse than in the Great Depression. About 6.2 million Americans, 45.1 percent of all unemployed workers in this nation, have been jobless for more than six months, a higher percentage than during than the Great Depression.
Obama himself has said, “…That after three years, if the economy wasn’t fixed, he should be a one-term president.”
On that count, Mr. Obama was right — he deserves to be a one-term president.
• A Tracy resident, Steve Wampler holds a master’s degree in political science from the University of Kent in Canterbury, England.