Sunday, August 8, 2010

Obama: Most Anti-Business President. Evah!

President Barack Obama is the most anti-business president ever, or so the right wing would have you to believe.

Truth be told:

This White House has "vilified industries," complains the U.S. Chamber of Commerce. America is burdened with "an anti-business president," moans the Weekly Standard.

Would that all presidents were this anti-business: According to the St. Louis Federal Reserve, corporate profits hit $1.37 trillion in the first quarter -- an all-time high. Businesses are sitting on about $2 trillion in cash reserves. Business spending jumped 20 percent last quarter and is up by 13 percent against 2009. And the Obama administration has cut taxes for small businesses and big ones alike. Maybe the president could be anti-me for a while. I could use the money.

H/T Mike Mathias


  1. uh-huh, yet overall output is lower. You are making the fatal mistake of selectively grabbing data.

    Corporations have trimmed operations, reduced operations and are sitting on their investment cash.

    The same goes for households and this administration and this government are encouraging continued contraction because of the uncertainty that their policies produce.

    But, if you are trying to argue that everthing is rosey, you can go right ahead and try.

    That's what makes you a hack government union employee grabbing benefits that your private sector brehren pay for, but rarely enjoy because your friends in government tax everyone else to death to pay for it.

  2. Corporations have trimmed operations, reduced operations and are sitting on their investment cash.

    That is why I included the link, which states that already. It's the CEO's, not Obama, that is gumming up the works.

    Perhaps if the conservatives hadn't weakened the unions so much over the decades, we'd all be better off. But that wouldn't fit into the conservative's elitism, now would it?

  3. A simple search at the Federal Reserve website of St. Louis has no evidence of the above quotes, meaning its some person claim by looking at a table or data, with no links. Since it was also part of an Ezra Klein tweet on huffpost I am sure it is all true....rolls eyes.

  4. Sorry, but Obama and his policies are forcing companies to sit on their cash. Higher taxes, increased costs, more regualtion and other cost concerns- all promised by the Obama administration, are forcing companies from hiring and spending. That cannot be debated.