President Obama’s assault on capitalism continues. The liberals continuously blame all the country’s woes on business without ever pointing the finger back at themselves. Now I guess we are suppose to expect the economy will bounce back without business? Yesterday, the president had a press conference with Treasury Secretary Geithner by his side and criticized Wall Street calling their behavior “the height of irresponsibility” because they had paid out more than $18 billion in bonuses last year. You see, even if you have a contract that states you will receive a performance bonus and you earn it, you should not be paid it because your business had to seek a bailout.
Obama continued by claiming, “It is shameful. And part of what we’re going to need is for the folks on Wall Street who are asking for help to show some restraint, and show some discipline, and show some sense of responsibility.” If Wall Street has a contract, isn’t it responsible to honor that contract? While I agree that it is difficult to hear about bonuses being paid out after my tax money has been used, this is the way business is run. Incentives are used to raise performance in all areas of life. It is a fact.
But even more troubling were these comments from the president which has me questioning his IQ and desire to bring America out of this recession, “There will be time for them to make profits, and there will be time for them to get bonuses. Now is not that time.” If now is not a time for bonuses when is the time! Who is going to go into business without the chance of making a profit? I’m sorry, but Obama has got to be an idiot to make a comment like that. If no company in this country made a profit they would either all leave or go out of business and then that leaves us where?
President Obama is bad for business! And I haven’t even discussed the labor handouts he offered this week in his newly signed executive orders. He said during those signings that “I do not view the labor movement as part of the problem. To me, it’s part of the solution.” Tell that to the car companies. We all know this is payback for the unions’ efforts to get him elected. You should have seen the crap we had sent to our house from the union my partner is in through Disney. There was no doubt that the union expected their members to vote for Obama.
I know I keep saying this, but it is going to be a long four years and we’re only two weeks into this thing.