Commentary by Marita Noon - President Obama is trying, according to CNN, to “convince voters of a vigorous recovery that a majority still doubts.” Describing comments the president made on October 2 at Northwestern University’s Kellogg School of Management in Chicago, CNN
calls his attempt, the “political problem inherent in having to describe an economic recovery that many Americans still aren’t feeling.”
The coverage points to polling data that shows the public still sees that the economy is “poor”—with 56 percent disapproving of how Obama has handled the economy.
Perhaps people are beginning to sense what a new documentary makes clear. We may not officially be in a recession, as some numbers have ticked slightly up, but people, as CNN pointed out, aren't feeling it.
What are they feeling? Higher electricity rates at home, plant closures, and jobs being sent overseas, while few new jobs are being created at home.
On a recent
radio interview, a caller told me that companies shouldn't be allowed to move their business—and the jobs previously held by Americans—overseas. He wanted laws passed that prevented closing an American plant and reopening in China, hiring the locals. I believe laws can be passed that would slow, what Ross Perot called, the “giant sucking sound”—the sound of jobs and economic growth being sucked from America to Mexico, China, or some other country that makes it easier to do business. Instead of controlling whether or not a company can do what is best for its bottom line, wouldn't it be better to make America the best business environment?
Current government policy is actually the cause of that “giant sucking sound,” the reason people aren’t feeling a supposed economic recovery. These policies, in the form of regulations—especially those from the Environmental Protection Agency (EPA), are keeping people from living the American dream and are even lowering the
standard of living from that of our parents.
While we may not technically be in a recession, we are in a regcession—an economic decline caused by excessive regulations. The cost of complying with the regulations makes it virtually impossible to meet them and remain competitive or make a profit. The result of these regulations: Americans lose their jobs, as businesses close or move to more hospitable countries.
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Marita Noon: Regcession—why Americans aren't feeling Obama’s “vigorous recovery”
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