Speaking on The McLaughlin Report, Mort Zuckerman offered yet another trenchant critique of the Obama presidency. We know well that Obama has lost the confidence of world leaders. Now, Zuckerman says, he has also lost the confidence of American business leaders.
The result, they are cutting back on new investment.
Initially an Obama supporter, Zuckerman saw the light very early on in the Obama presidency.
His views today, as summarized by Breitbart News:
“[The economy] has...grown by about 2%, 2.1%, for the last five years, which is the lowest rate of growth coming out of a recession we have had ever, since the Great Depression. And what’s more, that only took place, not because of the fact that the economic environment was that good, it's because we have a hugely stimulating monetary policy and fiscal policy. We have run up huge national debt and we have undermined the value of the dollar, and this is in my judgment not representing a good economic policy” he argued. And “he [Obama] has lost the confidence of the business community and the business world in terms of where it counts, which is investment, and new plant[s] and equipment.”
Zuckerman concluded that the national debt would “restrict what we are going to be able to do as a country for decades,” adding that “we have a situation where we are losing the competitive edge that we had, not totally, but in many, many areas.”
Something worth thinking about.