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Ear to the Ground

Review: Businesses Say Lack of Demand, Not Regulation, Kills Jobs

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Posted on Oct 5, 2011
TalkMediaNews (CC-BY)

In a memo released to House Republicans, Eric Cantor said he will push for “the repeal of job-destroying regulations” and “pro-growth tax relief.”

On Aug. 29, House Majority Leader Eric Cantor asked fellow Republican lawmakers to make the repeal of “job-destroying regulations” a top priority in the upcoming Republican jobs agenda. Bruce Bartlett, former senior policy adviser in the Reagan and George H.W. Bush administrations, says bollocks.

In his opinion, “regulatory uncertainty is a canard invented by Republicans that allows them to use current economic problems to pursue an agenda supported by the business community year in and year out. In other words, it is a simple case of political opportunism, not a serious effort to deal with high unemployment.”

In 2007, he points out, the Bureau of Labor Statistics began asking businesses nationwide why they laid off workers. In 2008, only about 5,500 layoffs were attributable to government regulation, accounting for no more than 0.4 percent of total layoffs. Meanwhile, hundreds of thousands of employees were let go due to lack of demand, comprising a minimum of 30 percent of all layoffs in the years fully recorded. And job loss due to regulation has declined—not increased—since Obama became president. —ARK

Economix at The New York Times:

These results are supported by surveys. During June and July, Small Business Majority asked 1,257 small-business owners to name the two biggest problems they face. Only 13 percent listed government regulation as one of them. Almost half said their biggest problem was uncertainty about the future course of the economy — another way of saying a lack of customers and sales.

The Wall Street Journal’s July survey of business economists found, “The main reason U.S. companies are reluctant to step up hiring is scant demand, rather than uncertainty over government policies, according to a majority of economists.”

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By Marian Griffith, October 5, 2011 at 2:18 pm Link to this comment
(Unregistered commenter)

—Sometimes it’s very hard to imagine if they really are this stupid- or its just incredible arrogance and sociopathology.—

They are neither. They are simply cynical and will lie, cheat, steal and threaten with violence as long as it advances their quest for more power and more wealth. And yes, that goes for politicians too.

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By omop, October 5, 2011 at 12:21 pm Link to this comment

John Sullivan.

Said it all. Bullsh*t flows naturally from a “bullsh**t*r.

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By GW=MCHammered, October 5, 2011 at 10:07 am Link to this comment
(Unregistered commenter)

Yet another light shed upon the black void that is political disconnect. We’d be better off minus their victimizing.

It’s We The People!
Not We The Politicians.

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By gstoddard, October 5, 2011 at 9:49 am Link to this comment

It is unlikely that this evidence will penetrate the Cantor “fact-free” zone.

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By felicity, October 5, 2011 at 9:31 am Link to this comment

Add to the lack of demand the seeming impossibility
of ‘reading’ the future as the primary reasons for
our high unemployment figure.

Not that long ago, Cantor and his cabal would have us
believe that raising the tax rate of hedgers (now at
15%) would result in a sharp rise in unemployment.
It’s working out so about every month or so, Cantor
(etc.) floats an ‘analysis’ of why the unemployment
rate is high.  If it floats, so much the better.  If
it sinks like a lead balloon, so what, there’s always
next month. 

This strategy is designed to deflect our attention
away from the real cause of our 9.1% unemployment
rate.  So far, it’s working.  People really need to

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By John Sullivan, October 5, 2011 at 9:09 am Link to this comment
(Unregistered commenter)

Yeah, it’s amazing to think that something coming out of the mouth of one of this generation’s Republicans would be bullsh*t.

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By surfnow, October 5, 2011 at 8:27 am Link to this comment

Sometimes it’s very hard to imagine if they really are this stupid- or its just incredible arrogance and sociopathology.

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