Fear Of Democrat Actions In Washington DC Has Paralyzed The Economy
The biggest problem with America’s economy may be that it’s investors and entrepreneurs are crippled by the unknown. From health care “reform” to a cap and trade tax, they simply don’t know what sort of new burdens the Democrats are going to saddle them with.
So says William Galston in The New Republic:
The economic contraction is of course the prime force driving companies to lay off workers. But a health-care overhaul grinding through Congress could bring unknown new obligations to insure employees. Bush-era tax cuts are set to end next year, and their fate is unclear. Legislation aimed at tackling climate change might raise businesses’ energy costs. Meanwhile, a bill aimed at increasing transportation spending is stalled. Many companies say they have responded by freezing hiring, cutting benefits and delaying expansion plans. With at least 60% of job growth historically coming out of the small-business sector, according to the government’s Small Business Administration, that kind of inertia could impede an economic recovery.
I’ve said before that the best thing Obama and his Democrats could do to spur economic recovery is to announce that they’re going to stop doing things.
