Early in his new administration, President Obama, meeting with a group of bankers, callously stated , "I'm the only thing standing between you and the pitchforks."    That one statement clearly showed the disdain that this president has for job-creating businesses in America.   He's now suffering from that misunderstanding of America's economic engine. 

For someone like Obama, all jobs are created equal.  He mistakenly believes that the creation of a government job is the same as one in the private sector. 

Burdening business with increasing taxes, health care costs, continuing governmental regulation and oversight has finally wrought an Obama economy, one in which business is so unsure of the future that they are reigning in any ideas of expansion or job creation.


    Some examples from the past 24 hours: 

            INTEL CEO offered a depressing set of observations about the economy and the Obama administration Monday evening
    
          John Stossel correctly points out that the uncertainty of new government regulation is necessarily hurting job creation.  He's absolutely correct. 


Recently I visited with the owner of a 60 year old firm that employs more than 250 employees (off of a high of 350).  It's a mainstay of employment for the community where it's headquartered. 

The owner of the manufacturing firm gave me some insight on the short term future of employment for his firm and the nation.  No matter what the outcome of the November elections, Obama needs to take note.

The firm is actually having a decent year.  Sales are less than before.  But cutbacks made in 2009 have helped the bottom line.  "Cuts" is easier to say then "layoffs".  Remaining employees, grateful for employment are expected to be more efficient.  And they are.  Without the cuts, its doubtful the company could have survived.  

It's a scenario that's playing out across public and private companies in the US.  Many public firms are reporting excellent profits.  But those profits are driven by the same type of cost reductions.  An improving bottom line is not sustainable, as you can't continue to wring out expenses every year.

The business owner won't be doing any new hiring because of the increased burden of having employees and the unknown threats emanating from Washington.   And he has no intention of bringing back the jobs that were eliminated. 

On a separate note - a young entrepreneur (who has started several on line companies) recently commented that he has two goals in life - First, he wants to start and run lots of companies AND Second, he never wants to have any employees! 

The number of jobs created by a firm used to be a point of pride for business owners.  Having a large number of employees was a mark of success. 

That was then.  Sadly, today, being a large employer still means you are a mark.............for pitchforks.