Advancing a Free Society

Bernanke Knows the Problem But Will He Rise To Solve It?

Monday, June 27, 2011

It would be crazy to drive with one foot on the brake pedal with the other foot flooring the accelerator. You would burn out the brakes and ruin the transmission. But that is essentially how the Obama administration and the Federal Reserve have been driving the U.S. economy.

The extended period of low interest rates and expansionary monetary policy is being cancelled out by the current administration's restrictive and meddling fiscal and regulatory policies that raise costs and bring enormous uncertainty to business decision-making.

President Obama asks for patience with his policies to improve the economy and create jobs, but his actions are inconsistent with those stated goals. It's not just his continuous efforts to shift taxation to business owners and creators of jobs and wealth.

Continue reading Scott Powell in Investors Business Daily