{"id":19744,"date":"2010-07-15T10:43:23","date_gmt":"2010-07-15T14:43:23","guid":{"rendered":"http:\/\/valorguardians.com\/blog\/?p=19744"},"modified":"2010-07-15T10:43:23","modified_gmt":"2010-07-15T14:43:23","slug":"shocker-big-business-afraid-to-spend-cash","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=19744","title":{"rendered":"Shocker: Big Business afraid to spend cash"},"content":{"rendered":"

Last month I wrote that Big Business is afraid<\/a> to hire new employees because of the climate Washington has created in the business world. Today, the Washington Post<\/a> announces that Big Business is sitting on a huge mound of cash – pretty much because of the reasons I mentioned in the earlier post;<\/p>\n

The answer to that question has become a political flash point between the White House and big business groups such as the U.S. Chamber of Commerce, which held a jobs summit Wednesday and accused the Obama administration of dumping onerous regulations on businesses. That has created an environment of “uncertainty,” which is causing firms to hold back on hiring as the unemployment rate has hovered near 10 percent, the Chamber said.<\/p>\n

The White House countered that companies are wary of hiring not because of new regulations but because they’re still waiting for consumer demand to return. The administration also claimed credit for 3.5 million jobs created by the stimulus bill from last year. <\/p><\/blockquote>\n

Big Business is waiting for those taxes to hit on January 1st. They’re also waiting for the new higher healthcare premiums that they’ll have to pay for their employees. And who knows what else will be streaming down the pike when the Democrats lose in November and they only have a month to jam through more anti-prosperity legislation through to the President’s desk.<\/p>\n

As for those three million jobs the White House claims they’ve created, the Wall Street Journal<\/a> says this;<\/p>\n

This is called a counterfactual: a what would have happened scenario that can’t be refuted. What we do know is what White House economists at the time said would happen if the stimulus didn’t pass. They said the unemployment rate would peak at 9% without the stimulus (there’s your counterfactual) and that with the stimulus the rate would stay at 8% or below. (See the nearby chart.) In other words, today there are 700,000 fewer jobs than Ms. Romer predicted we would have if we had done nothing at all. If this is a job creation success, what does failure look like?<\/p><\/blockquote>\n

That’s what I’m thinking.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last month I wrote that Big Business is afraid to hire new employees because of the … Shocker: Big Business afraid to spend cash<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46,11],"tags":[],"class_list":["post-19744","post","type-post","status-publish","format-standard","hentry","category-barack-obama","category-economy"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/19744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19744"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/19744\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}