Slow to Spend -- The anti-business president’s pro-business recovery.

[LTC]

This White House has “vilified industries,” complains the Chamber of Commerce. America is burdened with “an anti-business president,” moans The Weekly Standard.

Would that all presidents were this anti-business: according to the St. Louis Federal Reserve, corporate profits hit $1.37 trillion in the first quarter—an all-time high. Businesses are sitting on about $2 trillion in cash reserves. Business spending jumped 20 percent last quarter, and is up by 13 percent against 2009. The Obama administration has dropped taxes for small businesses and big ones alike. Maybe the president could be anti-me for a while. I could use the money.

The reality is that America’s supposedly anti-business president has led an extremely pro-business recovery.

http://www.newsweek.com/2010/08/07/slow-to-spend.html?from=rss

[Jeremy Roenick]

Yeah, it's this type of monetary and business policy that is the reason my Co. laid off 15% of their office employees last week.  With more to come if things to pick up in the next 6 months.

If businesses are making money, it's because they're trimming payrolls, making smaller crews worker harder and longer, and figuring out ways to make profits on much smaller volume.

One things for darn sure, they ain't building diddly squat.

[LTC]

The Obama administration has dropped taxes for small businesses and big ones alike. Maybe the president could be anti-me for a while. I could use the money.

[Jeremy Roenick]

Proof?  Documentation?

If BHO has dropped business' taxes then why aren't they hiring, expanding operations, growing?  Tax reductions on business incentivise growth.  Sorry pal, I'm just not seeing it.

In my business (industrial & commercial construction) we always see a brief period of non-movement in the construction industry prior to a major election.  The corporations out there want to know who's going to be in charge and making the rules before they expand.  This brief period of hesitancy usually precedes the election for only a couple months and quickly dissipates shortly after the election.  I can personally say that his is the longest, driest, period of "election anxiety" that I have ever seen in my sector of the economy.  The cuts have been deep to our sector.  Commercial and residential construction unemployment is running somewhere around 34% and it promises to get worse unless things improve in the next 6-9 months.

[Sasquatch]

Hey LTC, thanks for proving my point on an earlier thread. NCVol, doubted me, but you helped solidify my position. For a refresher:

-businesses be they small or large are posting sales and profits in THIS year to avoid the pain that is coming in 2011 and beyond.

-I noticed your story mentioned companies are sitting on a LOT of cash. Do you have a ratio that divides cash reserves by this supposed increased spending? Thank you again for pointing out the cash reserves.

-As JR said, why are businesses STILL laying off/firing employees? Is the unemployment number going up/down/or staying the same? Why are unemployment benefits being extended if it is so peachy?

I really appreciate all that you do to help the conservatives on this board LTC. Thank you!  

Here is an update on the Recovery Summer:

Fed set to downgrade outlook for US

http://www.ft.com/cms/s/0/dedcb986-a316-11df-8cf4-00144feabdc0.html

Can you or the writer of your post please send me some of your Obama glasses? 

[Jeremy Roenick]

Thanks for posting that story Sas.  I saw that last night before I turned in.  That is a huge story that will get little media exposure today.  The Fed has been the biggest cheerleader for this so-called recovery.  Just one week ago Big Ben Bernake was touting the upside that he believed sits underneath the unemployment and hiring numbers.  With Big Ben and the Fed changing their tune so shortly after a recent cheerleading session you had better take notice and you can bet the markets will take notice.

[GRAY]

LTC continuously posts things he cannot understand. he is also the one who posted about someone dying in a govt hospital as proof we need universal health care.  he's the kid that is retarded and everyone just kind of smiles and moves on