The reason job growth is stagnate Mr. President, is because of the regulations your administration is putting on America’s businesses.
It does not take an economist to figure this one out. You just have to look at what you have done over the past two years to see the direction you are taking our country.
The President’s administration has imposed 76 new regulations in their first 26 months in office. This has cost the private sector more than $40 billion to comply with these regulations.
In July of 2011 the administration imposed a total of 379 new rules that will cost over $9.5 billion to do business. It is not stopping here, as the Federal Register notes that more than 4,200 regulations are on the books to be implemented. This does not even include the new regulations that the EPA is going to impose on clean air, new derivative rules, or the FCC’s net neutrality rules. Nor does this include recently announced fuel economy mandates or eventual ObamaCare and Dodd-Frank regulations.
These regulations impose ever-increasing costs on businesses and stifles growth because of uncertainty of what those costs mean to the business. A business is not going to grow and add employees as long as they do not know what there ultimate operating costs are going to be based on these new regulations.
The small business administration estimates these costs will exceed $1.75 trillion a year. It will cost small business an additional 36 percent of operating costs just to stay in business.
The EPA has stated that new regulations will fuel the economy. I guess that is why we are seeing the unemployment rates at 4 percent instead of 9.1 percent and employers are growing their business like back when we had an industrial revolution.
If the Obama administration can’t understand how to energize job growth after seeing what their regulations are doing to business, then they truly do not want job growth.
It is time to regulate the regulators and 2012 will be our answer if we stand for what is right and take our country back.