Obama's Bogus Explanation For Troubles: Too Much Regulation - HuffPo

[WillyT]

Obama's Bogus Explanation For Troubles: Too Much Regulation
Peter S. Goodman - HuffingtonPost
First Posted: 01/18/11 10:21 AM Updated: 01/18/11 12:10 PM

<snip>

Two years after inheriting the worst economic disaster since the Great Depression, President Barack Obama has settled on an unhelpful new explanation for his failure to restore jobs: A surplus of suffocating regulations.

In an op-ed published in Tuesday's Wall Street Journal, the president decries how regulations have sometimes "gotten out of balance, placing unreasonable burdens on business -- burdens that have stifled innovation and have had a chilling effect on growth and jobs."

In the crudest sense, this is probably wise politics. Pandering to businesses in possession of campaign cash reinforces the advantages of Obama's incumbency in the run-up to next year's presidential election. By brazenly stealing a long-established Republican talking point -- how geeky Washington bureaucrats are squeezing the life out of American businesses -- Obama is speaking to the core distrust of government that prevails in many homes. He is also following through on his pledge to get along better with big business, following his recent summit with prominent chief executives at the White House.

But as a message fed into the policy process, one that helps shape the tone of public discourse, Obama's words are nothing short of a public disservice. Having failed to marshal an economic program sufficiently muscular to restore vigor to a still-lean economy, the president will not even talk straight about how we got here, instead adding confusion to the narrative that will surely embolden industries hoping to write rules in their favor.

It wasn't too many regulations that trashed the economy. It was not enough rules -- a deficit that owes in large part to the efforts of many of the people Obama has leaned on in putting together his economic policies.

<snip>

More: http://www.huffingtonpost.com/2011/01/18/obamas-bogus-explanation-regulation_n_810262.html

:kick:

[villager]

1. "As I strive to remain indistinguishable from a circa late-70's Republican,"

he might have added.

though I guess his words continue to speak volumes on this front.

[msongs]

2. our biggest export is jobs n our biggest expense is endless war. great leadership from DC nt

[OhioChick]

4. Agreed n/t

[snot]

3. K&R'd

[Name removed]

5. Deleted message

Message removed by moderator. Click here to review the message board rules.

[abelenkpe]

6. pathetic. nt

[WillyT]

10. Please... Explain...

:shrug:

[abelenkpe]

25. Sorry

I just think it's pathetic that our dem pres is parroting republican talking points. Is he taking his cue from Issa?

It isn't regulation that is causing companies to send work overseas rather than do it here in the US. Take the company I work for as an example: We lose work to competitors in Canada, New Zealand and the UK for two reasons. 1. health care costs. The countries we lose work to have national health care plans and don't saddle businesses with providing health care for their workers. 2. Tax incentives. Those countries offer substantial tax incentives to bring and keep work in their country. Because they understand that workers don't want a handout, they want a job. The best way to keep an economy and government thriving is to keep people in steady jobs. If people are unemployed or in an insecure job situation worried about making it from month to month or day to day the economy falls apart and tax revenue dries up eroding services and undermining the effectiveness of the government.

We don't need less regulation. The ideas of self regulation, trickle down economics, letting the market decide, have proven to be a tragic mistake. We need a jobs program and trade deals that benefit American workers not "American" aka multi national corporations and the wealthy elite.

So yeah...his comments seem pathetic. Or maybe it's just pathetic that I thought he was a democrat, a new FDR. Jeez, I got an email just yesterday asking me to donate 75 bucks so they could defend HCR. Yeah....really? If the letter said it was going to strengthen HCR or push for single payer I'd have sent a thousand bucks, but they aim so low as to want money to defend their luke warm attempt at HCR.

Anyway...I guess it's the best we have. Better than a tea pot for sure, but still underwhelming.

[ProSense]

7. Actually, he made the exact claim

"It wasn't too many regulations that trashed the economy. It was not enough rules -- a deficit that owes in large part to the efforts of many of the people Obama has leaned on in putting together his economic policies."

From the President's op-ed

<...>

Sometimes, those rules have gotten out of balance, placing unreasonable burdens on business—burdens that have stifled innovation and have had a chilling effect on growth and jobs. At other times, we have failed to meet our basic responsibility to protect the public interest, leading to disastrous consequences. Such was the case in the run-up to the financial crisis from which we are still recovering. There, a lack of proper oversight and transparency nearly led to the collapse of the financial markets and a full-scale Depression.

<...>

[vi5]

8. I've said it before, I'll say it again...

He's clearly done his homework and consulted with the best pollsters money can buy and has determined that he does not need the votes or support of me or people like me to succeed and that he's better off throwing his lot in with businesses and Wall Street types and apparently some mythical group of republican voters who someone in his inner circle has convinced him that he can get.

I wish him the best of luck in his endeavors.

[midnight]

9. Obama needs to implement a Federal relief program for main street.

The tarp program that was suppose to give relief to main street was stashed away by the banks...

[WhiteTara]

11. Daley is whispering in his ear these days n/t

[Octafish]

12. More Reaganomics.

More Reverse Robin Hood.

Who is it who's supposed to be holding his feet to the fire, again?

[Octafish]

13. Oh, yeah! And de-regulation is what got us in this mess. Wall Street Gone Wild!

And We the People paid them to replace what they stole.

[AnnieBW]

14. He's playing them...

The Repugs want to go on a deregulation jihad. Granted, there are some outdated regs in the Government. However, Obama will use this to point out useful regulations, and why they can't be taken away. Or, better yet, update some of the ones that need to be updated, like the food inspections.

[Bluebear]

16. Yes that must be it.

[katnapped]

19. Ah yes, INGENIOUS!

Some more 88th dimension chess! Obama's got the Republicans right where they want him!

[Bluebear]

22. +

[True_Blue]

15. K&R!

:kick:

[Name removed]

17. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[Zephie]

18. Because more deregulation will fix this!

Lets just live in a society with no rules whatsoever and see how that works out for everyone! :sarcasm:

[SidDithers]

20. Gold, Jerry! Gold!...nt

Sid

[social_critic]

21. Excessive Regulation does hinder job creation

Evidently the prime cause for the economic crisis was relaxation of rules regulating lending by banks. But this was encouraged to create jobs and allow those in the lower socioeconomic classes to own their homes. It backfired.

Over-regulation of the job market does create unemployment, because it makes companies leery to expand if they feel it'll be difficult to shed jobs later. But I don't think this is as important as excess supply of labor at this point in time. To soak up this excess, it's important to help private industry crank up factories and other businesses - and this means they have to be able to compete with imports. The best way for them to compete with imports is to have a national health service, this takes the load off the private employer, who will then be able to lower costs.

It's such a simple issue, I wonder why the private sector doesn't push hard for a more thorough reform of the health system so it's paid for out of taxes, and not by individual corporatins and workers. And if they are worried about the budget being balanced, heck all we have to do is pull our troops out of Iraq and Afghanistan. That's enough money to pay for it.

[StarsInHerHair]

23. he says exactly what the Right says here-why? He's not as bright-it was his

speech writers who had that sparkling intelligence, apparently.

[democracy1st]

24. totally sold out to Wall St!

[tkmorris]

26. I have been one of the first to criticize Obama when he screws up

But that article badly misrepresents what he said in that op-ed. He DID pander to both Left and Right points of view, but the article makes him sound like Newt Gingrich, which is just inaccurate.