The President Makes another Turn to the Right
January 18, 2011
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The President’s Wall Street Journal article on reforming the U.S. regulatory system is another big right turn in Mr. Obama’s presidency. The rhetoric sounds good on the surface and I’m sure CEO’s around the country are pleased as punch. But I’m sorry: really, it’s a goofy article with hollow arguments. The President repeats the GOP mantra that regulation is killing innovation and economic growth. Mr. Obama needs to read some of the other pages of the Journal; he might notice that America’s mega corporations are thriving and are awash in record profits. What innovations does he think we’re all missing? That he couldn’t think of any is evidenced by his saccharin example:
- “For instance, the FDA has long considered saccharin, the artificial sweetener, safe for people to consume. Yet for years, the EPA made companies treat saccharin like other dangerous chemicals. Well, if it goes in your coffee, it is not hazardous waste. The EPA wisely eliminated this rule last month.”
So has removing saccharin from the hazardous substances list inspired innovations and ignited a boom in hiring? And later he writes about getting input from “experts, businesses and ordinary citizens.” What are the chances anybody who doesn’t wear a starched white shirt to work will have any influence on corporate regulation?
It pains me to see the President writing in the same newspaper that so often features the likes of Rove, Limbaugh and Palin. Maybe the White House will open a branch on Wall Street. And maybe the Democrats will nominate someone else to run in 2012 because Obama will be the Republican candidate.