If the economy is being sabotaged, who is the saboteur?
Yesterday, Senators Dick Durban and Chuck Schumer said the Republicans are sabotaging the economy.
Let's examine a few of the Obama Administration policies to see what the Democrats are doing.
- 1) In testimony before the House Small Business Committee on Wed. June 22, Treasury Secretary Timothy Geithner said we have no alternative but to raise taxes or we have to shrink the overall size of government programs. Small businesses are the job creating engine of the country. Raising taxes on them will destroy jobs. So who wants to sabotage the economy?
- 2) On Tuesday June 21, Geithner said we need to have tax increases and spending to help reduce the deficits. A tax increase during a recession is a way to prolong the recession or make it worse.
- 3) The National Labor Relations board has sued Boeing over a decision the company made to manufacture the new 787 Dreamliner at a second plant in South Carolina. South Carolina is a right to work state so the International Association of Machinists & Aerospace Workers (IAM) accused the company of retaliating against the union. So the Obama Administration, in support of their loyal union voters, sued Boeing. The NLRB is seeking a judicial order for the company to shift all production of its787 Dreamliner commercial jet back to its original planned facility in Washington State. This is a clear example of the Government interfering in the decision making of a private enterprise, so who or what other private decisions are in the crosshairs?
- 4) According to US News, "Two new EPA pollution regulations will slam the coal industry so hard that hundreds of thousands of jobs will be lost, and electric rates will skyrocket 11 percent to over 23 percent, according to a new study based on government data." So the Obama Administration has recommended tax increases and implemented regulations that will dramatically increase electricity rates.
- 5) As a direct result of Obama's gulf oil drilling moratorium, The Daily Caller reported "Texas-based Seahawk Drilling, the second-largest shallow-water drilling operator in the Gulf, announced it had filed for bankruptcy Friday and would be selling its remaining assets to Hercules Offshore." How many American jobs did the Administration kill with a policy that punished American drilling operators for the misdeeds of a foreign oil company? Will there be a shortage of drilling rigs as they move to other oil fields? As usual, it is the drilling company employees who suffer the most and isn't the Democrat party the party of the little guy?
- 6) If, after the 2008 election I wrote in this space that the Obama Administration would nationalize GM and Chrysler, dictate the salaries of banking executives and commit the country to a billion dollars of spending for "economic stimulus" I suspect I would have been declared crazy.
Taken together what effect are these policies supposed to have? Does the Administration want a strong, growing private sector or is it trying to sabotage the private sector and the economy?
Note: I'm showing examples of Obama Administration policies that have negative impacts on the economy. The reader can decide if the policies amount to economic sabotage.