Now that I've had a chance to digest President Obama's speech to Congress last week and read up on his budget proposal, it's pretty obvious to conclude that Obama has declared war on American business owners. The only thing missing from his pseudo "State of the Union" speech was him pulling out Mr. Moneybags from Monopoly with his top hat and monocle and hanging him in effigy right there on national television. It is stunning to see how much contempt Obama has for American businesses. According to him, they are all greedy and evil, and contribute nothing to society except misery for common man.
I happen to think that CEO's have lately been focused on short term gains rather than long term results. This must change and the pay schedule for CEO's must change in order to get them refocused on long term results, rather than just the share price of next quarter. But President Obama is forgetting, or maybe he never learned it, the basic principle of capitalist economy - the government creates no wealth. There is nothing they do to actually create money. The private sector creates money. They create jobs. The government then taxes the private sector in order to have money to actually run itself.
President Obama seems to be thinking that if we just expand government, everyone in America will have a job. Of course, that will never work. Anyone who has taken Econ 101 knows that won't work.
Has President Obama noticed that every time he or his Secretary of the Treasury Timothy Geithner open their mouths, the stock market responds by dropping? Have they not realized that despite the passage of the stimulus bill and the TARP I & II bailouts, the investor class doesn't like what it's hearing? President Obama, do you think that maybe your policies are causing this to happen?
This is certainly change, but not the kind I can believe in.
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