Tuesday, September 6, 2011

Another Concession By Obama

This can be added to the long list of concessions Obama has made to the business class -- rejection of EPA recommendation on ozone level regulations.

Obama explained the decision as aimed at "reducing regulatory burdens and regulatory uncertainty". He has now adopted just another Republican and business class talking point. Blaming the economic crisis on government.

There are a number of points worth noting here. First, regulatory burdens and uncertainty have nothing to do with the economic crisis. This is a demand side crisis and the obstacle to growth is the lack of effective real and earned income-based demand by workers. Second, what happened to the business prowess and entrepreneurial spirit based on risk taking. Today, business expects no uncertainty? Do they also expect to gain a guaranteed return on investment?  

Finally, Paul Krugman makes a strong case that these clean air regulations could actually stimulate new investment and generate jobs.

It might be better to simply take the position that the EPA rule was designed to protect the health of Americans, therefore is worth supporting, and this is more important than any impact on job growth positive or negative. That would be a principle worth fighting for.  However, the current administration shows no inclination to stand by any principle or conviction.

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