Obama Doesn't Understand Economics

[deacon blues]

Recently BO stated that businesses should hire people b/c so many ppl are available to work.

Business owners do not hire people so they can have a job. They hire if the work is great enough they need to employ more people. Businesses exist to make a profit for the owners and stockholders of companies. Profitability ensures job creation. Cut into businesses ability to make more money and they will stop hiring. Take more money from business owners and corporations through taxes and they won't have the extra money to grow their business, nor will they have the money to hire more workers. It shows pure ignorance of how capitalism works when you demonize "big business", you raise taxes on them and their owners, you make it more difficult for private industry and profitability and then you ask why they won't hire all of these unemployed people?

Obama said recently that banks need to be more freely to loan money so businesses can buy more equipment and make payroll.

If you are a business owner and you're borrowing money to make payroll, you're doomed. Another revealing statement of how ignorant BO is of basic economics.

BO stated that govt healthcare would be cheaper b/c profitability wouldn't be a part of the overhead.

Profit is NEVER considered "overhead" in business. Overhead is what is spent in order to make a profit!

We now rank as the worst country in the industrialized world in unemployment which just increased to 9.7%. This administration promised that the unemployment rate would not rise above 8% by August of 2010. They throw out numbers like this to help themselves, but they are based on liberal economics which prove time and again that they do not work.

I'm weary of the economy being toyed with as an experiment to see if these theories work. Leave us alone! Get out of the way! Cut taxes across the board, remove the cumbersome and unreasonable regulations on companies and businesses, and demand fair trade practices. Then you'll see unemployment go down as the economy grows.