WillowTree
Diamond Member
- Sep 15, 2008
- 84,532
- 16,092
Barack Obama has spent much of his presidency attacking the rich and berating businesses for not hiring more workers. But many businesses arent hiring because they see an uncertain future with a President who at best doesnt understand business and at worst is at war with capitalism.
The headlines tell us that the unemployment rate in November fell to 8.6%, its lowest level in more than two years. But, as with much in the Age of Obama, the devil is in the details. The primary reason for the drop is that more than 300,000 Americans ceased looking for work altogether last monthmore than twice the number who actually got jobs. (Just think: Unemployment could go to zero if those pesky unemployed folks would just drop out of the job hunt.)
These are people who perhaps understand better than Obama that economic recovery entails more than companies simply step[ping] up to hire new workers, as Obama admonished CEOs to do last May.
Last week, Leon Cooperman, CEO of Omega Advisors, a hedge fund, sent Obama a blistering open letter, criticizing the Presidents desperate demagoguery against job creators. Capitalism is not the source of our problems, as an economy or as a society, Cooperman wrote before reminding Obama:
As a group, [capitalists] employ many millions of taxpaying people, pay their salaries, provide them with health care coverage, start new companies, found new industries, create new products, fill store shelves at Christmas, and keep the wheels of commerce and progress (and indeed of government, by generating the income whose taxation funds it) moving.
Obama's Class Warfare May Backfire as Big Business and Workers Team Up - HUMAN EVENTS
The headlines tell us that the unemployment rate in November fell to 8.6%, its lowest level in more than two years. But, as with much in the Age of Obama, the devil is in the details. The primary reason for the drop is that more than 300,000 Americans ceased looking for work altogether last monthmore than twice the number who actually got jobs. (Just think: Unemployment could go to zero if those pesky unemployed folks would just drop out of the job hunt.)
These are people who perhaps understand better than Obama that economic recovery entails more than companies simply step[ping] up to hire new workers, as Obama admonished CEOs to do last May.
Last week, Leon Cooperman, CEO of Omega Advisors, a hedge fund, sent Obama a blistering open letter, criticizing the Presidents desperate demagoguery against job creators. Capitalism is not the source of our problems, as an economy or as a society, Cooperman wrote before reminding Obama:
As a group, [capitalists] employ many millions of taxpaying people, pay their salaries, provide them with health care coverage, start new companies, found new industries, create new products, fill store shelves at Christmas, and keep the wheels of commerce and progress (and indeed of government, by generating the income whose taxation funds it) moving.
Obama's Class Warfare May Backfire as Big Business and Workers Team Up - HUMAN EVENTS