This is what leadership in the United States has become. Criticize private business – the very essence of the capitalist system – at every turn, and in every way possible and then go out and demand they “do what’s right” and hire workers. More proof this guy knows nothing about running anything.
Businesses don’t hire new employees simply because they have healthy profits and they don’t hire employees when government bureaucrats or even the president of the United States tells them to do so. They hire new employees as a direct result of need as the company expands.
President Obama thinks companies have so much money they should just hire employees to come in and stare at a cubical wall for eight hours a day. From Reuters.
[President Obama] said businesses and banks that reaped the rewards of extraordinary measures to pull the country out of a deep recession had a responsibility now to invest hordes of cash into U.S. jobs.
“It is time for companies to step up,” Obama said.
“American taxpayers contributed to that process of stabilizing the economy. Companies have benefited from that, and they’re making a lot of money, and now’s the time for them to start betting on American workers and American products.”
Businesses take risks every single day. They bet on employee productivity, they bet on the economy, they bet on what a competitor is going to do.
President Obama is asking businesses to take unreasonable risks by hiring staff to appease him, and I’m willing to bet mandates are around the corner. These are the type of moves that put us into the current economic downturn. I guess Obama thinks private businesses can handle huge deficits and debts just like the US government.
UPDATE (Jim): Here’s the President at a CBS Townhall saying pretty much the same thing … with a little extra. He now says it will take years, not months before businesses start hiring. And that it’s businesses fault. H/T Jim Hoft.
Hope and change my little mobsters.