The Obama Decline
Let’s take a look at a few examples pertinent to the fact that we’ve slipped to 18th in the Fraser Institute’s ranking of economic freedom.
Fifty-five percent of small business owners and manufacturers would not have started their businesses in today’s economy, according to a new poll that also reports 69 percent say President Obama’s regulatory policies have hurt their businesses.
“There is far too much uncertainty, too many burdensome regulations and too few policymakers willing to put aside their egos and fulfill their responsibilities to the American people,” said Jay Timmons, president of the National Association of Manufacturers, which commissioned the poll along with the National Federation of Independent Businesses. “To fix this problem, we need immediate action on pro-growth tax and regulatory policies that put manufacturers in the United States in a position to compete and succeed in an ever-more competitive global economy.”
Nothing happens in a vacuum. Nothing the government does is without consequences. Nothing. Obama’s insistence on regulation, legislation, and taxes that target small businesses is having an entirely predictable effect.
How about this slow-motion disaster?
No civilization can keep doing this. There aren’t enough rich people. You cannot continue overburdening productive people. You cannot keep plucking from the private sector indefinitely, and there is no such thing as a magic money tree. Everything has to come from somewhere.
Let us repeat one of the essential point made directly above:
There are not enough rich people to fund these levels of spending. Take everything they have, and it still isn’t enough. Watch and learn:
You cannot make us less economically free and expect us to become more prosperous. You cannot heap burdens upon small business owners and expect them to keep growing and creating jobs. You cannot addict more and more people to government transfer payments, transferred from an ever-shrinking population of productive people, and expect to be able to continue indefinitely. And yet this is the America that Obama explicitly tells us he is trying to create. And he is succeeding.
The bottom line: Freedom makes things better. Less freedom makes things worse.
(Kudos to Sean Malone for creating the infographic below, and to HotAir for posting it!)
Update/for more information:
Release from the National Association of Manufacturers:
The National Association of Manufacturers (NAM) and the National Federation of Independent Business (NFIB) today announced the results of a nationwide survey of small businesses and manufacturers. The results cast a harsh light on the state of the U.S. economy six weeks before Election Day.
The poll, conducted by Public Opinion Strategies (POS), surveyed 800 small business owners, manufacturers and decision-makers at small and medium-sized companies, with a majority (55 percent) saying the national economy is in a worse position compared to three years ago. Among the chief factors survey respondents cited were federal regulations, taxes, government spending and the cost of health insurance and energy.
Key survey findings include the following:
- 67 percent say there is too much uncertainty in the market today to expand, grow or hire new workers.
- 69 percent of small business owners and manufacturers say President Obama’s Executive Branch and regulatory policies have hurt American small businesses and manufacturers.
- 55 percent say they would not start a business today given what they know now and in the current environment.
- 54 percent say other countries like China and India are more supportive of their small businesses and manufacturers than the United States.
“Manufacturers have told policymakers in Washington time and again that uncertainty and a negative business environment is turning the American Dream into a nightmare,” said NAM President and CEO Jay Timmons. “The findings of this survey show that manufacturers and other small businesses have a starkly negative outlook for their future—with good reason. There is far too much uncertainty, too many burdensome regulations and too few policymakers willing to put aside their egos and fulfill their responsibilities to the American people. To fix this problem, we need immediate action on pro-growth tax and regulatory policies that put manufacturers in the United States in a position to compete and succeed in an ever-more competitive global economy.”
NFIB President and CEO Dan Danner said, “The small businesses who are the engine of our economy are clamoring for their elected representatives to stand up and lead so they can focus on the business of getting America back on its feet. Yet, instead of smoothing the way, our government continues to erect more barriers to growth through burdensome regulations that increase costs for small businesses and all Americans. It’s time Washington started listening to America’s job creators and offered real solutions to help us back to prosperity.”
Bill McInturff of POS said, “The data in this survey offer a striking picture of how American businesses view the current state of the U.S. economy. It’s clear that small business owners and manufacturers are becoming increasingly more frustrated by the federal government’s inability to solve America’s economic problems. Manufacturers place most of the blame squarely on policies coming out of Washington.”
Click here to view the complete survey and analysis.