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Monday, October 03, 2011

Another Obama Supporting Democrat Suffering Buyer's Remorse

By Susan Duclos

We have seen and reported on a series of large and small business owners, some Obama supporters and donors, going public with what they think of Barack Obama and how bad he has been for job growth, business expansion and unemployment.


First a small business owner explained, in detail, how the Obama administration tax increase proposals would cause suffering and perhaps financial ruin for small business owners.

Then we showed when self-described Democratic Steve Wynn, the CEO of casino company Wynn Resorts, explain how the Obama administration "is the greatest wet blanket to business, and progress and job creation" he has seen in his lifetime. He goes on to detail why businesses are "frightened" and sitting on their thumbs until Obama is gone.

Bernie Marcus co-founded Home Depot gave an interview saying that Home Depot, which created hundreds of thousands of jobs, if started today, "would never have succeeded," because of regulations and the biggest impediment to job growth today is "The U.S. Government."

KISS star, Gene Simmons, wants his vote back (he voted for Obama in 2008) and states that Obama "Has No F***ing Idea What The World Is Like".

Just last week, Obama donor, Ted Leonsis, who is a business owner, expressed how disillusioned he is with the class warfare rhetoric that Barack Obama has been spouting across the country and says it blows his mind how he is asked for money at the same time as "getting blasted as being a bad guy!"

The examples business owners and/or Obama buyer's remorse folks, go on and on and on and today we see another former Obama supporting Democrat, Mort Zuckerman, current editor-in-chief of U.S. News & World Report and publisher and owner of the New York Daily News, explaining the problems for American businesses as long as Obama is president.

Via Financial Times:

Facing these challenges, businesses are trying to enhance productivity, not create jobs. Polls show that business leaders are growing increasingly pessimistic. In the past six months a third of companies have delayed or cancelled plans for capital spending.

Of course, none of this was helped by a government that lost credibility by predicting that its recovery programmes would bring the jobless rate down and growth up. This was the beginning of the yawning credibility gap between the Obama's administration and business. The gap is being aggravated by Mr Obama's recent sharp turn to the left.

This resort to divisive populism - laying the blame on "fat cats" and pillorying the president's favourite villains - "millionaires and billionaires" - is exactly the wrong approach. It seeds the suspicion that the administration is more interested in campaigning and undermines the confidence that business needs if it is to invest in the face of new regulations, healthcare costs and an increased bureaucracy. Businesses sense that the administration no longer understands how this perceived hostility saps the animal spirits required for taking risks on expansions and start-ups.

Barack Obama and liberals (yes, I know, redundant) are demonizing, punishing, and over regulating the very people America's economy needs to expand their businesses, employ those who are unemployed now, and kick start a stalling economy.

If that isn't a clear case of biting the hand that feeds you... what is?