Taxes, perhaps? The Obama-Pelosi-Reid gang has inflicted a crushing uncertainty on the economy by refusing to extend the Bush tax cuts or to do anything about the uncertainty surrounding their expiration on 12/31/10.
There is an urgent need for employers and investors to know how the government is going to treat productivity and profits in 2011. Uncertainty stalls investment and kills growth which in turns chokes off new job creation as capital waits and waits and waits to see what the rules will be. That in a nutshell is why unemployment hit 9.6% today.
Hapless and ideologically-driven Team Obama doesn’t grasp this key point, and Speaker Pelosi has never cared about private sector job growth. Dizzy Harry doesn’t even appear to know what day it is most times he comes before a microphone, so the result is a dispiriting collection of Keystone Kop-like D.C. poobahs.
We did get an announcment, a signal, of what comes next from this Reuters story: “Food Safety a Priority for Senate: Reid Aide.”
The proposed bill –all 222 pages of it– is a bureaucracy expanding flotilla of government rules and expanding agency powers. Perhaps it is a good idea in some part, but a priority at this time in the country’s life? That’s why 300,000 people were on the Mall last week? Why Democrats are being routed in polls across the country? Because the FDA hasn’t got enough power with which to patrol eggs?
Like the inane conversation by and between many of the Beltway bloggers, pundits and cable talking heads which is increasingly resembling Versailles-like estimations of each other’s influence, the Obama-Pelosi-Reid “agenda” is almost completely divorced from the country’s needs. “Targeted” tax cuts from the gang that couldn’t hit a barn with a blunderbuss? More stimulus? Food safety bureaucratic expansion?
Proponents of massive change in November keep worrying that the lefty Beltway elites will get their acts together and mount a comeback.
Under the banner of “safe eggs for everyone” I guess.