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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV