Day that unemployment rate rises to 9.1 percent and Obama administration is advocating $1 trillion in new taxes
Members of the historic class 87-member freshman class were unmoved by Geithner’s insistence that raising nearly $1 trillion in taxes was the answer to the problem; especially since Republicans have stated since the beginning of the heated battle that they would not vote for any debt limit extension if tax increases paid for the difference. . . .
Of course, Austan Goolsbee was out there on all the Sunday morning talk shows saying that Obama was pro-business. Obama's "leverage" approach has been to use government money to get firms to do what he wants them to do.
President Obama intends to employ a strategy going forward to revive America’s private sector and get companies spending again, Goolsbee said.
“This president will enact [policies] to leverage corporate money,” he said, noting that was the impetus behind the Obama administration’s regulatory reform effort.
Several economic experts appearing on Sunday morning shows said U.S. firms are sitting on large stocks of funds, but those corporations are reluctant to begin spending again due to worries about the fragility of the economy. . . .
Obama's message to job creators has been clear. Hire at your own risk. Higher taxes, more burdensome regulation and crony capitalism are here for some time to come.