Earlier today President Obama gave a speech to the U.S. Chamber of Commerce in which he urged businesses to increase hiring and encourage investment. The President implored the gathered business leaders that “If there is a reason you don’t believe that this is the time to get off the sidelines — to hire and invest — I want to know about it. I want to fix it.”
Obama has proven more than willing to spend taxpayer money on bailouts for businesses looking for bailouts. Despite the President’s insistence in the speech that “winning the future is not just about what the government can do to help you succeed… it’s about what you can do to help America succeed,” the government "investments" we have seen so far have put large amounts of federal dollars into preferred companies' hands and steered industries in politically correct directions, rather than encourage vibrant economic activity.
Consider some of the administration's business policies: The health insurance mandate requires everyone to buy insurance from a private company. The auto industry bailout required everyone to buy GM stock (effectively). TARP, the $787 billion dollar stimulus bill, and even this new Better Building Initiative, which will issue guaranteed loans to companies looking to go “green.” New tariffs on imports prevent fair competition. State Department efforts to lobbying other governments to buy American products, such as Boeing airplanes, put civil servants in the service of private companies at the taxpayers' expense.
President Obama has already done plenty to skew the playing field. Why not try getting out of the way and letting businesses do what they’ve done for thousands of years?