Tuesday, July 19, 2011

President Obama is the Problem: Democrat Stephen Wynn

Stephen Wynn is a Democrat and a Las Vegas businessman, the Wynn Casino for one. Here is his explanation to investors about the problems with Barack Obama:
Well, here's our problem. There are a host of opportunities for expansion in Las Vegas, a host of opportunities to create tens of thousands of jobs in Las Vegas. I know that I could do 10,000 more myself and according to the Chamber of Commerce and the Visitors Convention Bureau, if we hired 10,000 employees, it would create another 20,000 additional jobs for a grand total of 30,000. I believe in Las Vegas. I think its best days are ahead of it. But I'm afraid to do anything in the current political environment in the United States.

You watch television and see what's going on, on this debt ceiling issue. And what I consider to be a total lack of leadership from the President and nothing's going to get fixed until the President himself steps up and wrangles both parties in Congress. But everybody is so political, so focused on holding their job for the next year that the discussion in Washington is nauseating. And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems -- that keeps using that word redistribution.

Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration. And it makes you slow down and not invest your money.

Everybody complains about how much money is on the side in America. You bet. And until we change the tempo and the conversation from Washington, it's not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the President. And a lot of people don't want to say that. They'll say, "Oh God, don't be attacking Obama." Well, this is Obama's deal, and it's Obama that's responsible for this fear in America. The guy keeps making speeches about redistribution, and maybe we ought to do something to businesses that don't invest or holding too much money. We haven't heard that kind of talk except from pure socialists. Everybody's afraid of the government, and there's no need to soft peddling it, it's the truth. It is the truth.

And that's true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans. And I'm telling you that the business community in this company is frightened to death of the weird political philosophy of the President of the United States. And until he's gone, everybody's going to be sitting on their thumbs.
I am not sure why anyone would be surprised by this president. As a university student, he fancied himself a Communist. Even if he has moved somewhat closer to capitalism, he is still far to the left of rational economic thought.

Folks like the president think that government regulation, if not ownership or everything, is the answer to all their perceived ills of society. Sure, they think, big government has been a bit of a problem in the past (Soviet purges, the Nazis' final solution), but surely we will get it right this time.

Continual ratcheting of government regulation destroys incentives for businesses to expand. Uncertainty is an serious enemy to business prosperity. Undoing the regulatory ratchet would be a positive and a friend, but even a steady state of frozen regulation would be better than Obamaisn. (Obamaism = "If it creates private jobs, regulate it, so it won't grow.")

Of course with all the new regulations from the Obama administration and Congress, the problem cannot be solved with a freeze. No one knows how the mass of new regulations will be interpreted. So the uncertainty is here to stay without a bunch of repeals.

2012 elections can't come too soon. Impeachment would be quicker, but unfortunately is unlikely.

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