It's Clear: Obama Policies Have Failed North Carolina

“As Vice President Biden travels to North Carolina to sell President Obama’s ‘to-do’ list, the state of the Obama-Biden economy is clear: fewer jobs and higher unemployment. For more than three years, President Obama has pushed liberal policies that drove up wasteful spending, spawned burdensome regulations, and showed an overall hostility toward job creators. Mitt Romney’s pro-growth agenda will finally get our economy moving in the right direction again.” –Andrea Saul, Romney Campaign Spokesperson

Today, Vice President Joe Biden Will Discuss Manufacturing And The Economy In North Carolina:

Vice President Will Speak In Winston-Salem, North Carolina Today To Talk About The Obama Administration’s Efforts To Create Jobs. “Vice President Joe Biden is scheduled to return to central North Carolina to talk about efforts by the Obama administration to create jobs. A statement from the White House says Biden is visiting Winston-Salem on Wednesday. He is scheduled to stop at Wake Forest Biotech Place, which is part of Wake Forest Baptist Medical Center.” (“Biden Making Return Trip To NC,” WAVY-TV, 6/5/12)

“Biden Is Also Expected To Discuss Steps The Administration Is Taking To Bring Manufacturing Jobs Back To The U.S. And Call On Congress To Act On President Barack Obama's ‘To Do List’ To Create Jobs.” (“Biden Making Return Trip To NC,” WAVY-TV, 6/5/12)

But Under The Obama Administration, North Carolina’s Unemployment Rate Has Increased And The State Has Shed Tens Of Thousands Of Manufacturing Jobs:

Under President Obama, North Carolina’s Unemployment Rate Has Increased From 9.0% To 9.4%. (U.S. Bureau Of Labor Statistics,data.bls.gov, Accessed On 6/5/12)

Since President Obama Took Office, North Carolina Has Lost 52,100 Jobs. (U.S. Bureau Of Labor Statistics, data.bls.gov, 6/5/12)

Under President Obama, North Carolina Has Lost 43,200 Manufacturing Jobs. (U.S. Bureau Of Labor Statistics, data.bls.gov, 6/5/12)

Why Are Workers In North Carolina Still Struggling For Work? President Obama’s Policies Have Been Hostile To Job Creators Around The Nation:

“[President Obama] Is Setting Up The U.S. Economy For One Of The Biggest Tax Increases In History In 2013.” “President Obama unveiled part two of his American Jobs Act on Monday, and it turns out to be another permanent increase in taxes to pay for more spending and another temporary tax cut. No surprise there. What might surprise Americans, however, is how the President is setting up the U.S. economy for one of the biggest tax increases in history in 2013.” (Editorial, “The 2013 Tax Cliff,” The Wall Street Journal, 9/14/11)

President Obama’s Tax Plans Would Come “At The Expense Of Smaller Businesses That File As Individuals” By Hiking Their Marginal Rates To “41% Or More.” “By contrast, President Obama's proposal yesterday (see below) to cut the corporate rate to 28% from 35% wouldn't apply to this ‘pass-through’ business income. It would thus favor big corporations at the expense of smaller businesses that file as individuals and would see their marginal rate rise to 41% or more under Mr. Obama's plan to raise individual tax rates.” (Editorial, “Romney's Tax Reboot,” The Wall Street Journal, 2/23/12)

• Approximately 50% Of Private Sector Employees Work At Firms That File Their Taxes Through The Individual Tax Code. “In 2008, flow-through businesses: Accounted for nearly 95 percent of all business entities; Employed 54 percent of the private sector work force; and, Reported 36 percent of all business receipts. Moreover, between 2004 and 2008 individual owners of flow-through business reported 54 percent of all business net income and paid 44 percent of all federal business income taxes.” (Robert Carroll and Gerald Prante, “The Flow-Through Business Sector And Tax Reform,” Ernst & Young, 4/11)

Nearly Three-Quarters Of Small-Business Owners Blame Obamacare For Impeding Job Creation. “As part of the explanation for the general economic pessimism, 78 percent of small businesses believe that taxation, regulation and legislation from Washington make it harder for businesses to hire more employees — and 74 percent blame the recent health care reforms passed by the Obama administration for creating an impediment to job creation.” (Tim Mak, “Chamber Poll: Small Biz Blames D.C.,” Politico, 1/18/12)

President Obama’s Dodd-Frank Regulations Will Impact “Storefront Check Cashiers, City Governments, Small Manufacturers, Home Buyers And Credit Bureaus.” “Far from Wall Street, President Barack Obama's financial regulatory overhaul, which may pass Congress as early as Thursday, will leave tracks across the wide-open landscape of American industry. Designed to fix problems that helped cause the financial crisis, the bill will touch storefront check cashiers, city governments, small manufacturers, home buyers and credit bureaus, attesting to the sweeping nature of the legislation, the broadest revamp of finance rules since the 1930s.” (Michael M. Phillips, “Finance Overhaul Casts Long Shadow On The Plains,” The Wall Street Journal, 7/13/10)

Gallup: Nearly Half Of Small-Business Owners Named Concern Over Government Regulations And Rising Health Care Costs As Reasons For Why They Were Not Hiring New Employees. (Dennis Jacobe, “Health Costs, Gov't Regulations Curb Small Business Hiring,”Gallup, 2/15/12)

According To The Small Business And Entrepreneurship Council, “Business Owners Remain On Edge Regarding The Tidal Wave Of Federal Government Regulation.” “‘Business owners remain on edge regarding the tidal wave of federal government regulation that has been advanced or proposed over the past two years. … The pain of the harsh recession was intensified and lengthened by this hyper-regulatory environment,’ Karen Kerrigan, president of the Small Business and Entrepreneurship Council, wrote in a Jan. 12 letter to Issa.”  (Philip Rucker and David S. Hilzenrath, “GOP Eyes Rules That Firms Say Hurt Jobs,” The Washington Post, 2/7/11)

And It’s Not Just Existing Businesses That Are Hurting – New Business Enterprises Are Struggling To Start In The Obama Economy:

The Average Number Of New Business Enterprises Under President Obama Is Approximately 100,000 Fewer Per Year Than During President Bush's Second Term. (Bureau Of Labor Statistics, www.bls.gov, Accessed 5/27/12)

New Business Startups Are At 30-Year Lows. “Not only the rate, but the raw numbers have declined, he said. In 1977, SBA figures show, Americans started 563,325 businesses with employees. In 2009, despite an increase in the population, they started 403,765. And no previous valleys dipped so low. A spreadsheet from Shane shows that neither the rate nor number of startups since 1977 ever hit the most recent level.” (Tom Feran, “U.S. House Speaker John Boehner Says New Business Startups Are At The Lowest Levels In 30 Years,” PolitiFact.com, 3/23/12)