Commentary Magazine


Topic: Roger C. Altman

The Private Sector? Who Knew?!

At his “jobs summit,” Obama discovered: “Ultimately, true economic recovery is only going to come from the private sector.” Mon dieu! You mean lambasting business, hiking taxes, imposing a flurry of mandates, and regulating carbon emissions aren’t the way to go? No, no. The Obami still want to do all that. They just expect the private sector to grow and hire workers in spite of all that. I guess.

One senses the cloud of incoherence descending daily, now on the verge of enveloping the White House in a blanket of contradictions and policy dead ends. The summit produced “a to-do list for the private sector that sounded rather familiar: weatherization, small-business incentives, regulatory and other help for exporters, and tax credits for employers who hire new workers.” But there was no recognition that the big stuff — ObamaCare and cap-and-trade — will drown out whatever small benefit might be obtained from this “familiar” list of shopworn ideas.

Clinton economic guru Roger C. Altman, writing in the Wall Street Journal, warns that the Democrats are heading for an electoral wipeout and suggests:

By providing new incentives for job creation and bank lending, offering more detailed and forceful commitment to deficit reduction, improving relations with industry, and taking a more forceful stance towards Wall Street, the Obama administration can reduce next year’s election risk.

Sounds like a good idea. They could have a summit. Perhaps they could call it the “Undo the Damage Summit.” Well, I’ll leave the marketing to others, but you get the idea. If you want the private sector to create jobs, you first have to stop bludgeoning employers.

At his “jobs summit,” Obama discovered: “Ultimately, true economic recovery is only going to come from the private sector.” Mon dieu! You mean lambasting business, hiking taxes, imposing a flurry of mandates, and regulating carbon emissions aren’t the way to go? No, no. The Obami still want to do all that. They just expect the private sector to grow and hire workers in spite of all that. I guess.

One senses the cloud of incoherence descending daily, now on the verge of enveloping the White House in a blanket of contradictions and policy dead ends. The summit produced “a to-do list for the private sector that sounded rather familiar: weatherization, small-business incentives, regulatory and other help for exporters, and tax credits for employers who hire new workers.” But there was no recognition that the big stuff — ObamaCare and cap-and-trade — will drown out whatever small benefit might be obtained from this “familiar” list of shopworn ideas.

Clinton economic guru Roger C. Altman, writing in the Wall Street Journal, warns that the Democrats are heading for an electoral wipeout and suggests:

By providing new incentives for job creation and bank lending, offering more detailed and forceful commitment to deficit reduction, improving relations with industry, and taking a more forceful stance towards Wall Street, the Obama administration can reduce next year’s election risk.

Sounds like a good idea. They could have a summit. Perhaps they could call it the “Undo the Damage Summit.” Well, I’ll leave the marketing to others, but you get the idea. If you want the private sector to create jobs, you first have to stop bludgeoning employers.

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