"VIDEO: Debunking The Right-Wing Meme That The Obama Administration Is Anti-Business"
From GOP presidential contender Mitt Romney and Tea Party Sen. Jim DeMint (R-SC) to Sean Hannity and Bill O’Reilly, a general consensus has emerged that the Obama administration is “anti-business.” Yet any actual evidence of an effect from this putative bias has failed to materialize. ThinkProgress has compiled a video report. Watch it:
To sum up: In 2010, corporate profits hit an all-time high of $1.37 trillion, business spending increased at least 13 percent between 2009 and 2010, and businesses have been sitting on $2 trillion in cash reserves. Meanwhile, the stock market has performed spectacularly. Indeed, corporate and financial sector profits seem to be the only portions of the economy enjoying a significant recovery from the collapse, as employment, job growth, and housing continue to severely under-perform. As economist and New York Times columnist Paul Krugman pithily observed in January, this seems to be nothing more than a “Ma, he’s looking at me funny!” complaint over the president’s rhetoric and style.