More piling on.

Home Depot Co-Founder: Obama Is Choking Recovery

Excerpts:

Bernie Marcus co-founded Home Depot (HD) in 1978 and brought it public in
1981 as the U.S. was suffering from the worst recession and unemployment in
40 years. The company thrived, creating hundreds of thousands of jobs and
redefining home improvement retailing.
But Marcus says Home Depot "would never have succeeded" if it launched today
due to onerous regulation.
...
IBD: What's the single biggest impediment to job growth today?

Marcus: The U.S. government. Having built a small business into a big one, I
can tell you that today the impediments that the government imposes are
impossible to deal with. Home Depot would never have succeeded if we'd tried
to start it today. Every day you see rules and regulations from a group of
Washington bureaucrats who know nothing about running a business. And I mean
every day. It's become stifling.

If you're a small businessman, the only way to deal with it is to work
harder, put in more hours, and let people go. When you consider that
something like 70% of the American people work for small businesses, you are
talking about a big economic impact.

IBD: President Obama has promised to streamline and eliminate regulations.
What's your take?

Marcus: His speeches are wonderful. His output is absolutely, incredibly
bad. As he speaks about cutting out regulations, they are now producing
thousands of pages of new ones. With just ObamaCare by itself, you have a
2,000 page bill that's probably going end up being 150,000 pages of
regulations.

IBD: Washington has been consumed with debt talks. Is this the right focus
now?

Marcus: They are all tied together. If we don't lower spending and if we
don't deal with paying down the debt, we are going to have to raise taxes.
Even brain-dead economists understand that when you raise taxes, you cost
jobs.

IBD: If you could sit down with Obama and talk to him about job creation,
what would you say?

Marcus: I'm not sure Obama would understand anything that I'd say, because
he's never really worked a day outside the political or legal area. He
doesn't know how to make a payroll, he doesn't understand the problems
businesses face. I would try to explain that the plight of the businessman
is very reactive to Washington. As Washington piles on regulations and
mandates, the impact is tremendous. I don't think he's a bad guy. I just
think he has no knowledge of this.

Read more here:
http://www.investors.com/NewsAndAnalysis/Article/578920/201107201835/Marcus-Home-Truths-On-Jobs.htm

J

-
I'm not sure Obama would understand anything that I'd say, because he's
never really worked a day outside the political or legal area. He doesn't
know how to make a payroll, he doesn't understand the problems businesses
face. - Bernie Marcus

His speeches are wonderful. His output is absolutely, incredibly bad. As he
speaks about cutting out regulations, they are now producing thousands of
pages of new ones. With just ObamaCare by itself, you have a 2,000 page bill
that's probably going end up being 150,000 pages of regulations. - Bernie
Marcus


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