As I was closing some open windows on my desk top, I caught this comment from former GE CEO Jack Welch on what the president could do to right a listing economy, contrasting that with what he has proposed to do:
Oh, he can do a lot about the economy. He could look at drilling for oil. He can, by himself, can drive that posture. He could put a moratorium on regulation until we’ve got unemployment below a certain level. He could do it. And he could, most importantly, change the posture. Everything we do in this administration is more punitive than it is incentivized. Let me give you a perfect example. Let’s take the jobs bill. They put in there Section 371. That is an ability to sue for unemployed people who are out looking for a job to sue for $300,000, for example, if they hire Andrea who has a job and don’t hire me, unemployed. It’s crazy. They, they give a $4,000 incentive to hire an unemployed person, then they give a $300,000 penalty if you happen to discriminate against an unemployed person. Come on, you’ve got to get a positive framework.
Emphasis added. Sounds like some pretty sound advice.