But is what’s good for “business interests” good for businesses?
What are businesses saying they need? Sales!
The numbers for taxes and regulation are both within their historical range. Those citing regulations has ticked up about 2% from where it was in 2006. Businesses don’t think it’s a skills mismatch problem, and they’re not seeing any crowding out.
So basically everything Charlie Dent says he believes about what’s wrong with the economy is completely wrong. He’s fighting problems that businesses aren’t having.
Dent thinks slashing government spending in the middle of the slump will grow the economy, despite the overwhelming evidence that it will make things much worse. Even the Morning Call’s usually-cautious economics columnist Dr. Sam Laposata says cutting spending is going to hurt job growth.
How can it be that “business interests” would cheer on a Congressman for inflicting great pain on their small business members? The political economy here seems strange indeed until you think about it as an issue of rentiers vs. debtors. The financial services industry dominates the Chamber of Commerce, so what you have here is the rentiers thanking Dent for bleeding out debtors, even though it’s preventing the labor market from improving.