Tuesday, August 25, 2015

Obama Unbound

The president’s major domestic objective, as stated in his 2013 State of the Union address, was to focus on job creation and revive a “rising, thriving middle class.” The president said that job creation would be the “North Star” of his administration.
His “North Star”? The president needs a new compass.
What the president has actually done through the government agencies he controls is stifle business:
New Environmental Protection Agency regulations to slash carbon emissions 30% by 2030 will have a devastating effect on factory jobs. A study by the Heritage Foundation found that this regulation by itself would cost each American $7,000 in income while killing 500,000 factory jobs and 45% of all coal-industry jobs.
Since Obama took office, thousands of new regulations have gone into effect. In 2012, regulation cost the U.S. economy about $2 trillion, or 12% of GDP. And manufacturers have been hit hardest. The average factory today spends $19,564 per worker to comply with regulations. For small manufacturers, it's bigger: $34,671 per worker.

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