Austin Hill

Has the Obama Administration turned the corner, and become more “pro business?”

News about the economy and business growth has been getting better. Claims for unemployment benefits, and unemployment itself, seem to have dropped. And while unemployment and “under employment” figures remain painfully high, a look inside the latest data on American businesses suggests that many of them have mustered about as much productivity as they can with their current arrangements. Presumably, many of these American businesses will likely need to either begin hiring new employees, or at least begin deploying more independent contract laborers in the months ahead.

That’s all good news. And the fact that the American economy is showing signs of new growth after a near total collapse of the financial system less than three years ago is a testimony to the American work ethic, and American ingenuity.

If, however, America is to have a sustainably prosperous economy over the long haul, then America must demand a smarter government. It is always to be expected that Washington politicians (the President included) would have lots to say about “job creation,” and being “pro business,” and this is especially true given current conditions. But mere rhetoric is not enough.

In truth, the President and the Congress must always maintain a healthy dose of respect for what is entailed in both “job creation,” and “wealth creation.” Yet much of what emanates from Washington conveys not only a profound sense of disrespect, but completely cluelessness as well.

Some of the gravest signs of trouble with our President began long before he was elected. Back in 2008 while he was campaigning for the Presidency, candidate Obama made it a point to chastise American businesses nearly every time a robust earnings report was published. In the summer of that year, speaking to a stadium full of adoring followers, his disdain for the oil industry, in particular, became evident:

“First of all,” candidate Obama stated, “you’ve got oil companies making record profits…no… no companies in history have made the kind of profits the oil companies are makin’ right now…They..they…….one company, Exxon Mobil, made eleven billion dollars…billion, with a “b” ….last quarter….they made eleven billion dollars the quarter before that…makin’ money hand-over-fist…makin’ out like bandits…”

“Makin’ out like bandits” – that’s an amazing assessment of a successful business enterprise, to suggest that a company stole something in order to post “profits.” Of course at that moment in time, the early signs of a recession were appearing, and it was politically viable to send the message that “if we can’t all prosper right now, then none of us should prosper right now.”


Austin Hill

Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.