Obama restrains recovery

Kimberley Strassel:


A venture capitalist recently remarked to me that the uncertainty the administration has created is "nothing short of paralyzing." Nobody will invest in an industry that might be the next to be overtaxed, overregulated, or publicly disemboweled.

Add to that uncertainty the administration's new populist bent, and it's a recipe for a continued capital freeze. "People in the economy are thinking about whether to invest or take risks when what they are seeing are early signs of Hugo Chávez economics," says Wisconsin GOP Rep. Paul Ryan. With the White House's political fortunes fundamentally tied to economic recovery, this populist fire is an act of self-immolation.


There is much more.

I think Obama's ignorance of how the economy works is doing damage in several part of the economy. He has been devastating to the hospitality and travel business by criticizing business gatherings in exotic locations. He is also restraining banking activity and making it more diffuclt for people to borrow for business expansion.


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