This is from Obama’s opinion piece that appeared in Rupert Murdock’s Wall Street Journal on Monday.
For two centuries, America’s free market has not only been the source of dazzling ideas and path-breaking products, it has also been the greatest force for prosperity the world has ever known. That vibrant entrepreneurialism is the key to our continued global leadership and the success of our people.
But throughout our history, one of the reasons the free market has worked is that we have sought the proper balance. We have preserved freedom of commerce while applying those rules and regulations necessary to protect the public against threats to our health and safety and to safeguard people and businesses from abuse.
From child labor laws to the Clean Air Act to our most recent strictures against hidden fees and penalties by credit card companies, we have, from time to time, embraced common sense rules of the road that strengthen our country without unduly interfering with the pursuit of progress and the growth of our economy.
Sometimes, those rules have gotten out of balance, placing unreasonable burdens on business—burdens that have stifled innovation and have had a chilling effect on growth and jobs. At other times, we have failed to meet our basic responsibility to protect the public interest, leading to disastrous consequences. Such was the case in the run-up to the financial crisis from which we are still recovering. There, a lack of proper oversight and transparency nearly led to the collapse of the financial markets and a full-scale Depression.
Over the past two years, the goal of my administration has been to strike the right balance. And today, I am signing an executive order that makes clear that this is the operating principle of our government.
This order requires that federal agencies ensure that regulations protect our safety, health and environment while promoting economic growth. And it orders a government-wide review of the rules already on the books to remove outdated regulations that stifle job creation and make our economy less competitive. It’s a review that will help bring order to regulations that have become a patchwork of overlapping rules, the result of tinkering by administrations and legislators of both parties and the influence of special interests in Washington over decades.
Obama, you idiot, regulations are not stifling job creation. There has been widespread deregulation during the past 15 years. Some of that deregulation led to the near total collapse of our economy. It was only AFTER deregulation that we saw dismal job growth. Why? Because the new rules made it easier and more profitable for companies to close factories here and move them to countries where they could pay their employees just dollars a day, such as in China.
Large corporations are raking in record profits but still not hiring in the U.S. They are hiring, though. Most new job creation is occurring in countries that are providing massive socialistic incentives for them to create factories there. Countries, such as China, are partnering with businesses and providing money for them to build factories.
No, deregulation is not going to bring jobs back to America. Obama is doing that for purely political purposes. Right-wingers have the loudest voices and so they’re the one’s who are heard. Their lies get propagated around the internet and become “fact” to many. So Obama is just doing what he thinks it will take to get reelected in two years. He is NOT doing what it will take to bring jobs back to America.
DRUDGE RETORT 