The Jobs Act released by Obama last week will not enable employers to hire. Employers are waiting for a much improved economy.
That sentiment was echoed across numerous industries by executives in companies big and small on Friday, underscoring the challenge for the Obama administration as it tries to encourage hiring and perk up the moribund economy.
The plan failed to generate any optimism on Wall Street as the Standard & Poor’s 500-stock index and the Dow Jones industrial average each fell about 2.7 percent.
As President Obama faced an uphill battle in Congress to win support even for portions of the plan, many employers dismissed the notion that any particular tax break or incentive would be persuasive. Instead, they said they tended to hire more workers or expand when the economy improved. Source.
We won’t have that American economy until, and unless, this administration takes steps to kill ObamaCare, lower corporate taxes to bring our businesses back home, and stop their job-killing government regulations immediately.