President Obama: Make Mitch McConnell and John Boehner's life a living hell for the next 2 years

[badtoworse]

7. What the people want and need are a growing private sector economy

We need to encourage private companies to invest in this country and build plants here. That means we are going to have exploit the advantages we have and become more competitive in areas where we lag other countries. We need to address trade imbalances where we are being hurt by unfair competition.

We have an enormous advantage in energy costs here. In Japan, natural gas costs $15 -$18 per MMBTU. In Europe, it typically costs around $12. Costs here have been in the $3 - $4 range because we have enormous shale deposits and the technology to exploit those assets. We need to leverage that advantage in energy costs as much as we can. Our tax code needs to be changed to make investment here attractive - accelerated depreciation on new plant, tax deals for new investment need to be on the table. We need to streamline the regulatory process to make it more business friendly. I don't have the expertise in trade to make informed suggestions, but my gut tells me that we're getting screwed left and right by China.

What we should not be doing is growing the public sector and paying for it by raising taxes. That will shrink the tax base even further as more capital flees the country and will make things worse.

I have no idea what Obama will obstruct. Hopefully, none of the above.