A regular survey by the National Federation of Independent Businesses (NFIB) shows that recent capital expenditures and near-term plans for new capital investments remain stuck at 35-year lows. The same survey reveals that only 7% of small businesses see the next few months as a good time to expand. Only 8% of small businesses report job openings, as compared to 14%-24% in 2008, depending on month, and 19%-26% in 2007.They conclude that Obamanomics was a mistake:The weak economy is far and away the most prevalent reason given for why the next few months is "not a good time" to expand, but "political climate" is the next most frequently cited reason, well ahead of borrowing costs and financing availability. [Emph. and link added]
These facts suggest that it was a serious economic mistake to press for a hasty, major transformation of the U.S. economy on the heels of the worst financial crisis in decades. A more effective approach would have been to concentrate first on fighting the recession and laying solid foundations for growth. They should have put plans to re-engineer the economy on the backburner, and kept them there until the economy emerged fully from the recession and returned to robust growth. By failing to adopt a measured approach to economic policy, Congress and the president may be slowing the economic recovery, and thereby prolonging the distress from the recession.PREVIOUSLY on Obamacare:
Obamacare may raise insurance costs by 54%
Harvard's Dean of Medicine opposes Obamacare
Rahm Emanuel explains that they are not even trying have Obamacare make sense
Harvard economist explains why Obamacare will raise premiums
HHS says Obamacare will cause costs to go up and cause employers to drop coverage
To protest Obamacare, San Francisco holds a sick-in
Polls say majority of voters oppose Obamacare
The example from up North: the Canadian health care collapseRahm Emanuel explains that they are not even trying have Obamacare make sense
Harvard economist explains why Obamacare will raise premiums
HHS says Obamacare will cause costs to go up and cause employers to drop coverage
To protest Obamacare, San Francisco holds a sick-in
Polls say majority of voters oppose Obamacare
PREVIOUSLY on the subject of economics:
How Obamanomics destroys jobs
Obamanomics illustrated
Deficits: Obama goes where no man has gone before (illustration)
How to raise the standard of living
Obama's anti-intellectual economic theory
Obamanomics and the test of science
Jerry Brown learns economics, the left objects
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