What about Obama’s war of attrition on business?
How much has Trans-Canada Pipelines spent dealing with extra regulations, enviro studies, etc. for the Keystone Pipeline, required by Obama’s EPA? Or the moratorium on Gulf drilling that the EPA imposes? Hassling Texas refineries?
Face it, in a thousand ways major and minor, this Administration has sent a quiet message: we hate business, we view you guys as the enemy, and we will do everything we can to either stop you or tax you. And business is listening.
But Capital is mobile. It doesn’t have to be invested, or even stay in the US. The availability of capital was what always made the US unique, and helped it grow.
Same thing, individual entrepreneurs see that Government is toxic to the profitable use of capital, so they cease to engage, and jobs, business, profit evaporates