Small businesses drive the growth of the U.S. job market.
So with today's unemployment rate over nine percent, which the White House anticipates will be the case well into 2012, it would only be natural for President Obama to focus on initiatives to support small businesses in his address this evening to a joint session of the U.S. Congress.
Because President Obama would really rather not be held accountable for the low rate of employment that has come to characterize the U.S. economy under his presidency (see the chart below for the period since 01/09), it is likely that he will point to two of his favorite union-approved economic bogeymen in another attempt to avoid having the focus of blame fall upon himself: banks "that won't lend" and businesses "that hoard cash."
Political Calculations is a site that develops, applies and presents both established and cutting edge theory to the topics of investing, business and economics.
Be the first to read Political Calculation's column. Sign up today and receive Townhall.com delivered each morning to your inbox.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for August 28th, 2014 | John Ransom
In Other News: Warren Buffet's Secretary Unavailable for Comment on Burger King Tax Move | Michael Schaus
In Other News: Rare Sighting of the Elusive President Obama in His Natural Habitat, the Golf Course | Michael Schaus