John Stossel aptly explains why economic growth has been so tepid throughout this recovery.
Read more:Uncertainty Paralysis
By John Stossel
President Obama would do us all a big favor if he'd ask himself this: "Would I start or expand a business without knowing what regulations or taxes government will impose next year?"
If he'd just stop and ask that, he'd have a sense of what's wrong with the economy. He'd understand why a country that must create 120,000 new jobs each month just to absorb newcomers created only 69,000 last month.
Past recoveries were quicker. Something is different. What could it be?
Let's remember that the economy -- which is to say, us -- is already burdened by byzantine bureaucratic impositions. Every week, the feds add another thousand pages of rules and proposals for rules. Local governments add their own. My mayor, in New York City, even proposes micromanaging the size of the drinks restaurants may sell.