Seven Ways President Obama’s Policies Are Hurting American Manufacturers
President Obama is back on the road today, treating Americans to another speech focusing on “his proposals for boosting U.S. manufacturing and high-wage jobs.” If those proposals look anything like the agenda he’s been pursuing, he’s facing a tough sell with American manufacturers who have repeatedly warned the president’s policies are holding back economic growth and making it harder to create jobs. Here’s how:
- Blocking the Keystone Pipeline. President Obama gave opponents of the Keystone pipeline “reason for hope” recently when he told the New York Times “there is no evidence” that the project “would be a big jobs generator.” The vast majority of Americans disagree. A recent National Journal survey found that “67 percent support building the pipeline” saying it “will ease America’s dependence on Mideast oil and create jobs.” The pipeline also has the backing of labor unions and manufacturers, who call it an “economic engine” that will create thousands of jobs.
- Threatening a Government Shutdown Over More Tax Hikes. The White House is spoiling for a government shutdown, issuing veto threats aimed at rolling back the sequester he proposed, and extracting more tax hikes on American job creators. The National Association of Manufacturers says the president’s tax hikes “will only fuel the headwinds manufacturers face, making them even less competitive and threatening economic growth and U.S. jobs.”
- Imposing a National Energy Tax. Last month, President Obama laid out his plan for a national energy tax that will have severe consequences for American power producers and the energy-intensive sectors, like manufacturing, that depend on them. According to a study released by the National Association of Manufacturers, the cumulative impact of several proposed Obama administration regulations “could cost, by conservative estimates, roughly $100 billion annually and more than 2 million jobs,” and, in a worst case scenario, “more than 9 million jobs.” The president’s war on coal has already put thousands of Americans out of work, and puts more than 800,000 more jobs at risk.
- Putting Offshore Energy Off Limits. The Obama administration has put 85 percent of America’s most resource-rich areas off limits to energy production and development, costing Americans as many as 1.2 million jobs.
- Doubling Down on Failed ‘Stimulus’ Spending. President Obama renewed his call for more ‘stimulus’ spending last week, despite the failure of his first trillion-dollar ‘stimulus’ to bring the unemployment rate down to five percent, as promised. Nearly 200 economists agree “the large structural deficit due to excessive government spending is hurting the economy,” and addressing out-of-control spending is one of the keys to helping the economy grow and create jobs.
- Implementing the ObamaCare Train Wreck. Labor unions have “grown frustrated and angry” about the president’s health care law, warning that it will “destroy the foundation of the 40 hour work week that is the backbone of the American middle class.” According to one recent survey, 82 percent of American manufacturers cite “increased anxieties related to” the implementation of ObamaCare as one of their top concerns.
- Rolling Out Red Tape on Natural Gas Production. “A 2011 PricewaterhouseCoopers study estimates that high rates of shale gas recovery could result in a million new manufacturing jobs by 2025,” The New York Times reports, with the “potential to spark a manufacturing renaissance in the U.S.” But, the Obama administration could put a stop to that with “burdensome, restrictive, unnecessary” regulations on hydraulic fracturing that would impose a one-size-fits-all policy on states that have been safely and effectively managing this type of energy production for years.
In a speech before the National Association of Manufacturers last month, Speaker Boehner offered a different approach, grounded in the Republican Plan for Economic Growth & Jobs, that will help restore our nation of builders. The Republican plan supports manufacturers by expanding American energy, reining in red tape, controlling spending, and delaying and dismantling the president’s health care law. “If the president wants a ‘better bargain,’” Speaker Boehner said last week, this “is pretty good place to start.”