The Business World Knows Better Than Obama

Tuesday, 20 Jul 2010 03:37 PM

By Dick Armey

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From the FreedomWorks website.

Larry Kudlow pleads for clarity and certainty regarding government intentions, especially on taxes and regulation.

A predictable legal order would free $3 trillion currently lying dormant in businesses and banks.

Investing this money is the definitive stimulus. A predictable legal order will propel the economy forward, benefiting all Americans.

President Obama knows the benefit of a predictable legal order.

Kudlow quotes the president: "The free market depends on a government that sets clear rules that ensure fair and honest competition . . . Too much regulation or too much spending can stifle innovation, can hamper confidence and growth, and hurt business and families."

Harmfully, the president’s agenda of expanding healthcare, strengthening unions, controlling the environment, and other causes is the opposite of establishing a predictable and stable legal order.

As examples, Kudlow comments on the banking law, Obamacare, and environmental regulations: "Take, for example, the new 2,300-page bank regulation bill, which spreads 243 new regulatory provisions across 10 agencies. No one really knows what's in this document, or what the unintended consequences will be. Until people figure this out, it could freeze bank lending for years.

"The Obamacare health bill similarly includes tax hikes and regulatory overreach that not only adds to business hiring costs but could put a freeze on the expansion of one of America's most vibrant private-sector industries. Meanwhile, threats of EPA carbon regulations only add to the cost burden for business."

Putting aside of $3 trillion by businesses and banks is an authentic response to bad governance. American industry and banks want to invest, expand, and make a profit.

Recognizing the grief associated with the gigantic economic crisis, America governance philosophy is even more important than freeing up $3 trillion of investment stimulus.

Does America have a governance system that promotes human freedom?

Again, tragically and harmfully, President Obama and Congress placed their power agendas — healthcare, unionism, environment, and others — over creating a stable legal order, allowing every American to have a rational basis on which to invest their intelligence, skill, and money.

The FREEDOM lesson is: With assurance of consistent and universal application of society's rules, a person plans and invests himself mentally, physically, and financially in opportunities to create and exchange ideas, goods, and services.

A stable and consistent legal system is essential for all humans to flourish.

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