On October 25th of 2011, President Obama said that the American people have lost their ambition and their imagination. Is that what you think? In 2009, Congress passed an approximately $800 billion stimulus package that was proposed by President Obama and the Democrats. They promised that jobs would be created and the unemployment rate would never be above 8%. Today, and for the past two years or so the unemployment rate has been around 9%. What is the answer to job creation coming from the President? Offer another stimulus program like the one that didn’t work before and blame Congress because they won’t pass this new package.
I believe that government is often a roadblock to job creation. The government needs to create a better environment for job creation which includes a simpler tax code with lower rates for businesses as the US has one of the highest corporate income tax rates in the world. Instead of the government trying to pick winners and losers, such as in the Solyndra case, the government should be working with the private sector in an open fashion and possibly creating public/private partnerships for huge projects such as building a new gasoline refinery or improving our infrastructure. And most importantly and immediately, the government needs to remove onerous regulations such as those prohibiting offshore drilling, creating unnecessary costs to the banking system and stifling environmental regulations.