The guy who couldn’t run a lemonade stand without running it into a $5 million debt within hours is lecturing private business about their “responsibilities” again.

“Completely clueless” doesn’t even begin to cover it:

President Obama called on U.S. businesses to do more to help grow the economy, saying that while the unemployment rate is getting better and jobs are being added, the U.S. needs “to get there faster.”

“Businesses have a responsibility, too,” said Obama in his weekly address on Saturday. “If we make America the best place to do business, businesses should make their mark in America. They should set up shop here, and hire our workers, and pay decent wages, and invest in the future of this nation. That’s their obligation.”

Wow. Trying to analyze those two paragraphs reminds me of what Donald von Wiedenman said before he tried to have sex with Mama Cass: “I’m not sure where to begin.”

The translation to Obama’s rallying cry to business is this: “You idiots better figure out a way to pay for all this irresponsible BS I’m shoving down your throats without laying people off and running up the unemployment rate or you’re in trouble!”

Does Obama actually believe businesses are “holding back” on hiring because they’re greedy and don’t want to spend money on labor? Not to put to fine a point on it, but jobs are created because those jobs create more wealth for the business ownership and stockholders than they cost. In other words, businesses hire because they’re greedy. Businesses that hire when they don’t need to will go out of business, and how the hell does that boost the economy? Ditto for businesses forced to pay artificially inflated wages demanded by many of Obama union buddies.

To the public-trough lifer, there’s no understanding the problems and challenges of private sector business. In government, if you want to hire, you just do it and go take the money to do so from somebody else. What’s the problem? Bill Clinton once best demonstrated this lack of ability to understand private-sector economics when he told Herman Cain, then CEO of Godfather’s Pizza, to “just raise your price” to cover additional taxes and regulations. Yes, economic brilliance at its finest.

Obama’s blaming private sector business for the sluggish economy when, if he wants to find somebody to fault, he could start by looking in a mirror — and we know he doesn’t mind doing that.

Bonus Saturday reading: Obama well knows what chaos he has unleashed

Comments

22 Responses to “Obama: Businesses Have Responsibility to Help Economy Grow”

  1. Nanny on February 5th, 2011 1:50 pm

    Let's see – for 2 years the One has derided businesses who make a profit, stuffed a bloated health care system down their throats, threatens them with union goons and now he wants them to cooperate and do the right thing? Ummmm can't have it both ways there dude. If I am not making a profit I am not going to go further in debt to hire more employees to NOT make any more profit – DUHHHHHH

    That's what you get when the president has no clue how to run a lemonade stand.

  2. OK_Loyalist on February 5th, 2011 2:15 pm

    It's the Obozo The Clown Show !

    Obowmao couldn't drive his thumb into a lard can.

  3. Joe Redfield on February 5th, 2011 2:55 pm

    Note the President's use of the conditional: "If we make America the best place to do business…". Well, Mr. President let us do just that – abolish the EPA, OSHA, etc, etc, etc ad infinitum and make America the best place to do business. We certainly are not that now.

  4. joyannaadams on February 5th, 2011 3:02 pm

    Great Post!

    Notice he want OTHER countries to set up business HERE…and hire the locals..while the big profits go back to THEIR country.

    He's like a fish flappin' out of water.

  5. SignPainterGuy on February 5th, 2011 3:12 pm

    It will simply never happen until government at every level and all the greenie orgs get out of the way !!

  6. Thingumbob on February 5th, 2011 3:15 pm

    What Ben Bernanke is actually thinking:

    "The Federal Reserve, in conjunction with the European Central Bank and the major nations of the West, is engaged in the most extraordinary bailout in history. Through a series of measures, both overt and covert, we are subsidizing the financial system and backstopping the major securities and derivatives markets with what amounts to a blank check. These operations are continuing, even expanding, even as we claim that the bailout is being wound down, and that the bailout is turning a profit. Without these extraordinary, taxpayer-funded, efforts, there would be no financial system.

    "The Federal Reserve and other regulators are doing everything we can to help the banks dress up their books, to hide the extent of their losses. These efforts have been remarkably successful at allowing these totally bankrupt institutions to keep their doors open, and pretend to be profitable. In doing so, we have successfully avoided runs by depositors, investors, and counterparties which could have destroyed these banks virtually overnight, and taken the financial system with them.

    "The Federal Government has, for all intents and purposes, become the residential real estate mortgage market, issuing or guaranteeing some 95% of new mortgages, and providing Federal guarantees for huge amounts of mortgage-backed securities and other mortgage-related derivatives. The maintenance of the illusion that these securities have value is a matter of the highest national security, as it is preventing the total collapse of the banking system.

    "To get through this crisis, the Fed is systematically destroying the value of the dollar. This will allow is to pay back our future obligations with cheaper dollars, a time-tested technique. At the same time, we must continue to sell huge amounts of dollar-denominated Treasuries to fund our deficit and raise money for the bailout. Therefore, we must publicly insist that we are committed to a strong dollar–even though our actions show that insistence is a lie.

    "The fact is that we are piling up new debt at a staggering rate, while the capability to service that debt is collapsing. We understand that this is unsustainable, but we view it as a short-term measure needed to help us get through the transition to a new financial system. We have no illusions that the old system can be saved, even though we constantly talk about how sound it is, and how it is recovering. We are lying, to keep the peasants calm while we set up our new global dictatorship.

    "If we told you the truth about what was coming, you would panic. We do not have the resources to keep the vast majority of the world's population alive, and save the financial system. We are therefore forced to choose between the monetary system and the people. The choice is hard, but obvious: we must protect the money, since it is money that makes the world go around. Without capital, we can not have finance, we can not have trade, there would be no credit for the economy. In the post-bubble world, under the new global system, the carrying capacity will be much smaller. That may be unpleasant, but we ignore Malthus at our peril. For now, we require austerity and depopulation, as we return to a sustainable balance.

    "At the same time, we will require a dramatic contraction in the size of the global financial system. The first to go will be the institutions most closely associated with the peasant–what some call the "real"–economy. That means the commercial banks which depend upon making loans to ordinary people and businesses, which will be the first to feel the effects of the economic contraction. When a bank's customer base goes broke, the bank is never far behind. We've closed some 300 banks over the past couple of years, and eliminated many others through mergers, but there are still thousands to go. Meanwhile, the biggest banks–ones with big securities operations in addition to their commercial banking activities–are increasing their dominance over the economy. This is all according to plan. At some point soon we will have to deal with these big banks, but for now we continue to insist they are healthy.

    "We are lying to you, for your own good. This is a period of great social engineering, and the herds are much easier to control when they are calm. Our plan requires moving the people to the slaughterhouse in an orderly fashion, and we can not–and will not–tolerate any stampedes. We would rather do this in a civil manner, but will take whatever steps are necessary to ensure our success.

    "The nation-state is an outmoded concept. In our modern, inter-connected world with its global marketplace, there is no room for such artificial divisions. If the markets are global, then governance must also be global. One world, one set of rules. The markets, and the corporations which operate within them, are far more efficient at managing scarce resources and economic activity. If the world is to get through this crisis, we must abandon outmoded concepts like nation-states and move into a truly globalized world. The Fed is doing its part to make this transition, even as we pretend the steps we are taking are for the benefit of the United States."

  7. Doug on February 5th, 2011 3:18 pm

    Yep, and also if he actually gave a damn about helping private business expand he'd give them all the same Obamacare waiver his buddies are getting.

  8. SignPainterGuy on February 5th, 2011 3:37 pm

    WOW, Thingumbob ! THAT is truly a "Now where do I begin" moment !

    Sounds like something from The Onion or perhaps Wikileaks !

    Whichever, that is immensely closer to what appears to be happening than any other BS coming out of the O`stration ! Too accurate !

  9. Pasadena Phil on February 5th, 2011 3:40 pm

    That is EXACTLY the attitude that destroyed Venezuela's economy. This is EXACTLY the same attitude that tells us that we have an obligation as citizens to buy Obamacare. We are all slaves to the state now known as "the people".

    The government's job is to protect us from unfair foreign competition, secure our borders and make sure that our markets are fair and competitive. That is what gives investors and entrepreneurs the confidence to risk their capital and create jobs. We don't follow Pied Pipers and Fearless Leaders who are only interested in picking our pockets at every opportunity. Just get out of the way and let us work! That's where jobs come from!

    This is what happens when our first reaction to everything is "There ought to be a law!" and "Why doesn't the government do something?". We all know what we should be doing. Why don't we just do THAT, and not just when someone is looking? Do it because it is the right thing to do. It's like my father always said: "Locks only keep honest people out."

  10. OK_Loyalist on February 5th, 2011 3:56 pm

    "Bonus Saturday reading: Obama well knows what chaos he has unleashed"

    The subject of Israel burns my ass worse than a 3 foot flame. While the good book tells us that we, as Christians, should revere Israel. The left does what it can to undermine/destroy it, and the majority of the Jews of this country voted for the ilk of Obowmao and still support him. What are they thinking, that the left is going to pass out soap for those showers ???

  11. Audacity of a dope: Obama says businesses have “obligation” to help the US grow « Sister Toldjah on February 5th, 2011 4:46 pm

    [...] Doug Powers breaks it down: The translation to Obama’s rallying cry to business is this: “You idiots better figure out a way to pay for all this irresponsible BS I’m shoving down your throats without laying people off and running up the unemployment rate or you’re in trouble!” [...]

  12. Audacity of a dope: Obama says businesses have “obligation” to help the US grow | Conservatives for America on February 5th, 2011 5:01 pm

    [...] Doug Powers breaks it down: The translation to Obama’s rallying cry to business is this: “You idiots better figure out a way to pay for all this irresponsible BS I’m shoving down your throats without laying people off and running up the unemployment rate or you’re in trouble!” [...]

  13. Dandapani on February 5th, 2011 5:32 pm

    Businesses only have responsibility to turn a profit for their owners or stockholders. That's it. Everything else is a side effect. Deal with it BO, deal with it.

  14. TheBigJames on February 5th, 2011 5:38 pm

    If only every person in the country who heard the One's speech, or had an opportunity to read it were able to see how utterly stupid it is; it would bring down his approval rating another 20 or more points, but unfortunately the vast majority of the people who actually listen to him are either to stupid to understand how ridiculous and amateurish it sounded, or they are to far down the Socialist ladder to care.

  15. Roland on February 5th, 2011 5:59 pm

    Businesses also have the obligation to obey the law. Also, individual businesspeople have a personal obligation to behave morally.

    It would be immoral for a businessperson to undermine his business by hiring people it does not need, since such hiring will both cut into the business's profits (stealing money from shareholders) and risk the jobs of existing employees, Obama is actually exhorting businesspeople to behave immorally and unethically by violating their fiduciary obligations.

  16. Dandapani on February 5th, 2011 6:16 pm

    You digress by including morality. Businesses function in a capitalist system to turn a profit. Nothing more and nothing less. The rest is outside the scope of capitalism. Nothing wrong with a capitalist approach. In a free market, you may choose as the consumer to avoid businesses that are not acting legally or morally. The market place will eventually weed out bad businesses. Capital will flow naturally where it is needed most.

  17. Tweets that mention Obama: Businesses Have Responsibility to Help Economy Grow : The Powers That Be -- Topsy.com on February 5th, 2011 8:51 pm

    [...] This post was mentioned on Twitter by Michael Dreelan, Doug Powers. Doug Powers said: Economic genius president: Businesses have responsibility to help economy grow http://tinyurl.com/6kpd9m9 [...]

  18. Roland on February 5th, 2011 9:18 pm

    I was not digressing. I was pointing out that for businesspeople to do as Obama demands, they would be behaving in a clearly immoral way.

    I understand you might not want me to bring morality into the discussion, but Obama already did that. Socialists are immoral. It is what they are. They are destroyers of value. They punish producers and reward cronies. That is what they do. That is what they have always done. Always.

    They are immoral people. It is a big mistake by those of us who support free enterprise to fail to point out how immoral their philosophy is, and how it destroys capital and jobs so the socialists can buy votes and/or reward cronies.

    They are not just mistaken in their views. They are not confused. They are rotten people who do not care about the damage they do.

  19. Guest on February 6th, 2011 7:04 am

    I suppose you're right. There's absolutely no reason why corporate America should be expected to show the least bit of interest in anything other than their own corporate profits. If that means the jobs of millions of American workers are lost to foreign workers who will put in 12 hours a day for $300 per month, what of it? If that means the domestic production of critical components ceases, what of it? If the tax base of the nation erodes as American workers lose jobs and income, what of it?

    Of course, you'll significantly diminish the ability of American consumers to buy the products you want to sell to them in the process, particularly once they realize they're digging themselves a hole by relying too much on credit. There's a slim possibility that a serious economic downturn might result at some point…

  20. Guest on February 6th, 2011 7:22 pm

    The market place only weeds out businesses that don't make a profit. "Making a profit" isn't necessarily the equivalent of "good for the nation", "good for society", "good for our children", etc. It can be the exact opposite. Consider the history of the tobacco industry, for example. An industry directly responsible for the premature deaths of 440,000 Americans per year and for enormously inflating the shared financial burden of national health care costs has been highly profitable for over a century.

    Profit is how individual capitalist businesses keep score. That can't be the only way that a nation keeps score.

  21. Roland on February 7th, 2011 2:55 pm

    No society has actually figured out a better way of keeping score. The socialists claim they have figured out a way in order to seize power from foolish and/or desperate people, and then every time they default to corruption and/or tyranny. The default is inevitable, since they do not actually have any decent ideas about how to figure out a better way of keeping score without wrecking the values and benefits freedom of enterprise brings. They ignore moral hazard.

    Which brings us back to my point about personal morality. Just because no society can't figure out a better way to keep score, systemically, that does not mean individuals should consider that a green light to do whatever they can get away with under the law.

    The morally superior society is one with personally moral, compassionate people who will fight to defend freedom, including freedom of enterprise and property. Those are people very different from the one we elected President in 2008.

  22. SignPainterGuy on February 8th, 2011 12:58 am

    Can`t / wouldn`t argue with that !

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