September 29, 2022

Obama’s Wierd Philosophy On Business Is Killing Job Growth

It’s a routine event to be excoriated by your enemies – you laugh it off and consider the source.  When harsh criticism comes from your friends, however, it should be a wake up call to reassess positions.

Barrick Obama’s wake up call came when Steve Wynn, CEO of Wynn Resorts recently let loose some very harsh criticism on Obama’s job performance and “weird political philosophy”.  Steve Wynn is a giant business presence in Las Vegas and has built and run a large number of casinos including the Wynn, Encore, Golden Nugget and Treasure Island.  Wynn’s business skills and determination have resulted in creating thousands of jobs and wealth.  Wynn knows business and he knows how to create jobs.  He is exactly the type of man who should be consulted for his advice on guiding the country out of depression levels of unemployment.

Unfortunately, the president spends most of his time demonizing wealthy businessmen for a litany of transgressions including not paying enough taxes.  The White House’s disdain for free enterprise has not escaped the notice of the country’s job creators.  In a conference call to investors, Steve Wynn lamented that businesses are being demoralized and paralyzed due to socialistic government policies.

Wynn said  that the “Obama administration is the greatest wet blanket to business and progress and job creation in my lifetime. And I could prove it…I could spend the next three hours giving you examples of all of us in this marketplace that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right, and a President that keeps using that word redistribution.”

Wynn also mentioned that he is a Democrat and a friend of Harry Reid, but “I am telling you that the business community in this country is frightened to death of the weird political philosophy of the President of the United States. Until he is gone, everybody is going to be sitting on [his] thumbs”.

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Wynn also said that Obama is “responsible for this fear in America. The guy keeps making speeches about redistribution and [the need] to do something to businesses that don’t invest, that are holding too much money. You know, we haven’t heard that kind of talk except from pure socialists. Everybody is afraid of the government and there is no need soft-pedaling it. It is the truth. It is the truth.”

And right on cue, Obama today confirmed Wynn’s worst fears.  Although unemployment has been at crisis levels in this country for three years, Obama has ignored the problem other than occasional lip service to the issue.   In an announcement proclaiming a new push for job creation today, the President came up woefully short on ideas.  The “new job initiatives” announced involve extending unemployment benefits and the social security tax cut, proving Wynn’s contention that Obama, as a socialist, does not understand or embrace free enterprise.  More social benefits merely transfers wealth from workers to non workers.  These initiatives would be underwritten with borrowed money, deepening the debt crisis.  Wynn is correct – until Obama is gone from office, the nation’s economic woes are certain to worsen.

It’s time for a change.

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