More rapid growth requires importing less and exporting more. Dealing with the $450 billion trade deficit requires drilling for more oil offshore and in Alaska, and substantively addressing Chinese and other Asian governments' currency manipulation. Obama has flat out refused to even discuss proposals from liberal and conservative economists alike on those issues.
Essential is right sizing business regulations to make investing in new jobs less expensive. Regulatory protections for the environment and consumers and to ensure financial stability must be delivered cost effectively to add genuine value.
Overall the president must cultivate a climate more receptive to domestic investment. The administration's strident regulatory policies and rhetoric are creating a crisis of confidence in the business community as surely as George Bush's neglect cultivated arrogant and tragic risk taking on Wall Street.
More jobs require trimming back on tax increases and spending cuts, and more realistic and less ideological trade, energy and regulatory policies. These are words the White House and many on Capitol Hill simply do not want to hear.Follow @pmorici1 This article was written by an independent contributor, separate from TheStreet's regular news coverage.
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