House Republican Majority Leader, Eric Cantor, announced that Republicans would begin to pass legislation aimed at repealing “jobs killing” regulations. Sanctimoniously, Cantor said the GOP would pass legislation which would ties the hands of Government rule making departments. Cantor also predicted tax cuts for small businesses. Their first target, however, would be clean air regulations for power (and pollution) generating utilities.
As usual, the GOP has proposed letting the fox back in the chicken coop.
The dust is hardly settled on the housing bubble collapse and the financial sector implosion. The nations economy has been staggered by events stemming from lack of, and enforcement of regulations. What are these people thinking?
The current high unemployment rate has exposed the real soft under belly of our Country. Real value adding productivity. During the buoyant 90’s and 00’s, the US shipped millions of jobs overseas. None of these jobs left for reasons of regulations or taxes. They left because it was simply cheaper to produce in China and other low labor cost countries. No one seemed to notice because the country was building houses and collateralized debt obligations, and living off credit when necessary.
But facts do not matter too much any more. The 24/7 news cycle demands quotes and the GOP, better than anyone, understands this. President Obama and the Democrats could not only be batting this soft ball down, they could be introducing their own plans.
Where is the Democratic plan?
The problem is there are no 24/7 plans that are possible. Rebuilding our jobs producing economy will be a lengthy process. No politician wants to stand up and ask the country to be patient, or demand that we sacrifice together in order to rebuild our productive strength.
I cannot fault Cantor for taking his best political shot. In the absence of any Democratic plan or statements, why shouldn’t the GOP try to get credit and help their 2012 election chances. The only reason I can think of is that the GOP medicine may make the patient even more seriously ill.