Originally Posted by Tortfeasor 335xi
Obama's only fault on oil policy is that he clearly doesn't have a policy.
Also, his fed chairman has chosen a low interest rate easy money policy that has caused money to move into commodities as a hedge against inflation which, in turn compounds the inflationary pressure on prices.
I have more fault with Obama's recession policies. In a time of recession he passes a healthcare bill promising to both increase costs and increase taxes on corporations. He then compounds this by threatening constantly to raise taxes by letting Bush tax cuts expire and raising taxes on high earners which also hits most small businesses through tax rules dealing with subchapter S corporations. Essentially, it treats small business income as personal income, and is taxed at income rates. On top of this he keeps trying to alleviate the tax pressures he is creating with temporary tax credits. The end result is a huge amount of uncertainty surrounding one of the largest expenses an employer faces, his taxes. This is a huge disincentive to hire anyone because it makes a company unable to adequately analyze the value of the additional capacity additional workers creates.
If you think Obama doesn't have an energy policy, you are willfully blind. If you spent a whole 1.273 seconds on google you would understand why you are completely wrong.
Obama doesn't run the Fed Bank. It is a non-gov't entity that doesn't answer to the US President. It is owned by a group of major private regional banks.
If Bush wanted to make his Tax cuts permanent, he should have done the required budget cuts to balance the lost revenue. Bush pvssied out by making them temporary so he didn't have to make the spending cuts, and he left the economic disaster that decision caused to future generations. Not sure how this is Obama's fault?
If you are going to cry about "uncertainty", there is absolutely nothing causing more "uncertainty" than the Republicans trying to shut down the entire government every 3 months. Small business owners that run payroll on a revolving line of credit indexed to the gov't bond rates, will see interest rates explode if we default. This is REAL uncertainty. Same for each and every company that has a gov't contract who doesn't know if they will be paid next month. Same for every single social security recipient, and every single business that gets business from social security recipients. Etc, etc, the damages go on and on, and will put us right back into recession.
The level of "uncertainty" being caused by the Republican House is off the charts!