Ezra Klein takes on the ridiculous notion that the Obama administration.
This White House has “vilified industries,” complains the Chamber of Commerce. America is burdened with “an anti-business president,” moans The Weekly Standard.
Would that all presidents were this anti-business: according to the St. Louis Federal Reserve, corporate profits hit $1.37 trillion in the first quarter—an all-time high. Businesses are sitting on about $2 trillion in cash reserves. Business spending jumped 20 percent last quarter, and is up by 13 percent against 2009. The Obama administration has dropped taxes for small businesses and big ones alike. Maybe the president could be anti-me for a while. I could use the money.
The reality is that America’s supposedly anti-business president has led an extremely pro-business recovery. The corporate community has recovered first, and best.
He goes on to explain how deep recessions take time to recover. Read it for a dose of reality.
We shouldn’t be surprised, but less than a year after the largest bailout of Wall Street in history, somehow the government is anti-business. What a joke.
