Admittedly, the country was not in great shape when Barack Obama came into office. The United States had already gone into recession, the housing bubble had burst, and the global economy didn't look so hot either. Unfortunately, Barack Obama took a bad situation and made it much worse. Had Obama done nothing, chances are the country would be better off today and had he actually pursued a pro-growth policy of slashing regulations, cutting taxes, and tamping down the deficit, the economy would be immeasurably stronger than it is now. Instead, Barack Obama pumped job-killing, growth-draining rat poison directly into the veins of our nation's economy.
1) Obamacare: Obama pushed a massive new entitlement program past a Congress that didn't even read the bill. Many businesses don't fully understand how Obamacare will impact them when it goes into effect in 2014, but they do know their lives will be much more complicated, it will cost them a lot more money, and it will be considerably more difficult to provide health care for their employees. Obamacare is a major disincentive to hire new people.
2) Regulations: When the economy is reeling, that's when you need to cut back on regulations to spur growth, not gum up the works even further. According to the Heritage Foundation, "the Obama Administration imposed 75 new major regulations from January 2009 to mid-FY 2011, with annual costs of $38 billion. There were only six major deregulatory actions during that time, with reported savings of just $1.5 billion." In addition, the Obama Administration is proposing another seven new regulations that are projected to cost businesses somewhere between 35 and 100 billion dollars more. Every dollar that businesses have to spend trying to extricate themselves from government-generated red tape is another dollar that they can't spend on new workers who can make more of their products.
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