It is a fact that businesses in America are uncertain about Obama’s vision for the country and businesses long term health.
As Obama,Pelosi and Reid flit around Washington rearranging the deck chairs on the USS Sinking Economy, businesses are drawing their claws in and locking up their cash until something more positive appears on the horizon.
Here is an excerpt from Jon Ward’s post in the Daily Caller earlier this month….
By reaching into virtually every sector of economic life, government is injecting uncertainty into the marketplace and making it harder to raise capital and create new businesses,” said Verizon CEO Ivan Seidenberg at a speech in Washington in late June.
Federal Reserve Governor Kevin Warsh said in a recent speech in Atlanta: “Owing to a less-than-assured economic outlook and broad uncertainty about public policy, employers appear quite reluctant to add to payrolls.”
Roberton Williams, senior fellow at the Tax Policy Center, said in an interview, “The whole tax situation is very much in flux, very uncertain. It makes it hard to plan.”
“It’s clear that firms are not yet hiring. A lot of them are sitting on big bundles of cash,” Williams said, citing the examples of Google and Apple, which are both hoarding about $30 billion in cash instead of investing it or using it to expand.
The story goes on to quote Seidenberg…
Seidenberg said he was “troubled” by Obama’s agenda, so much so that he had “reached a point where the negative effects of these policies are simply too significant to ignore.”One fact that is indisputable when it comes to business leaders in our once great country….
these guys will take their ball and go home and wait out the storm.
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