... Congress passed and the president signed a financial reform bill that is a complicated and a politically driven mixture of sensible reforms, and senseless changes that have little to do with stabilizing the financial architecture, or correcting what was defective in prior regulations.,,,business investment started trending [down] way back in 2006 and did the bulk of its plunging in 2008. It also seems to me that George W Bush was president at this time. Soon after Barack Obama took office, investment bottomed-out and began to rebound. Neither Obama’s rhetoric nor his policies can possibly be responsible for the Obama-era drop in investment for the simple reason that no such drop occurred. [source] (via DeLong
It is no surprise that this rhetoric and the proposed and actual policies discouraged business investment and slowed down the recovery.
Tuesday, June 21, 2011
Yglesias: Yet Another Conservative Economist Thinks Barack Obama Can Travel Through Time
Gary Becker explains that the left-wing policies of Barack Obama and the 111th Congress slowed business investment: