Politicians Continue to Pressure Job Creators

Last week my friends at SchumpetersCentury emailed me an post by Jonathan Ortmans — a Kauffman Fellow — arguing that Obama gets entrepreneurship. Then my father sent me an editorial from the Investor’s Business Daily exposing how our policy makers are destroying America’s job creation engine — entrepreneurs. I know which is closer to the truth.

Even more sick is that today’s WSJ highlights Biden’s saying that the administration ‘misread how bad the economy was’ — what this really means is that their policies are not working and they want another stimulus plan. Don’t let it happen. From the must read IBD Op-Ed – Stop the Madness That’s Killing Jobs:

But 18 months into this downturn, we’re still losing jobs — with 2.7 million gone in the private sector just since January, when the Democrats took full control of the government.

Shrinking GDP has crushed investment. First quarter gross private domestic investment — a proxy for business investment — plunged 20%, or nearly $450 billion, annually. The outlook is grim.

Worse, the June jobs data mark a milestone of sorts: Our unemployment rate equals that of the no-growth Eurozone nations.

Why is this job decline happening? The private sector — the real engine of economic and job growth — won’t hire because it’s scared of what it sees coming out of Washington.

On the horizon, as far as the eye can see, are higher taxes, uncontrolled spending and layers upon layers of new regulations.

Who would hire new workers faced with that?

Also, the federal government is meddling in the private sector as never before — in essence, nationalizing two of the three major carmakers with $200 billion in subsidies and capital infusions, turning our banking system into a fourth branch of government through the $700 billion TARP program, spending $200 billion to take over Fannie Mae and Freddie Mac and put them back in the business of lending to people who can’t pay their loans — which is how we got into trouble in the first place.

And that’s only what’s been done in the last half year or so. What really scares private businesses is what’s in the pipeline.

Please, read the whole editorial and then call your elected reps: tell them to stop the madness!

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