Regime Uncertainty Now Spooks Even Obama’s Former Big Business Allies
By Mary Theroux • Friday June 25, 2010 2:12 PM PST •
Big business leaders—heretofore merry shills for Obama’s disastrous policies—have finally woken up to the fact that such policies are bad even for those with friends in the White House.
The Chairman of the Business Roundtable, a group whose support helped further ObamaCare, Cap-and-Trade, and any and all Keynesian “stimulus” spending, now warns:
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.
In our judgment, we have reached a point where the negative effects of these policies are simply too significant to ignore.
As Robert Higgs has and continues to document, such regime uncertainty accounted for the Great Depression’s lasting more than a decade, as the Obama administration’s practice of it today dooms any hope for recovery.
It’s too bad big business has spent so many years making back-room deals for itself at the expense of those not in the room, and its coming around now is certainly only the result of its first-hand experience that beasts have a tendency to turn on those who feed them. But regardless of the cause of this sudden epiphany, we invite the Roundtable’s members and all others’ alliance in killing leviathan once and for all.
Tags: American History, Bailouts, Budget and Tax Policy, Business, Corporatism, Crisis and Leviathan, Economics, Great Depression, Integrity, leviathan, Mercantilism, Money and Banking, Politics, regime uncertainty, Regulation, Taxation